As a service provider — an MSP, MSSP, or consultant — you likely offer your customers cybersecurity advice and possibly vCISO services. You can scale your vCISO services to increase revenue, upselling opportunities, and profit margins.
There are challenges associated with scaling. However, with the appropriate tools, scaling is simple and seamless, and your vCISO services can flourish.
CISOs are one of the most sought-after jobs in businesses, but medium-sized businesses and SMBs are in critical need of the same degree of expertise to secure themselves.
CISO wages are rising as a result of this increase in demand. This has created a market opportunity for service providers, such as MSPs, MSSPs, and consultants, to provide their clients virtual CISO services.
Offering clients a full vCISO function necessitates having a high level of expertise, particularly in the security field; thoroughly evaluating the client's environment and analysing any gaps; finishing a full risk assessment and developing a strategy to address these gaps; and addressing compliance and regulatory issues, to name just a few. This is just a portion of what a true vCISO should be offering.
High margins and a strong point of uniqueness are advantages of this firm, but it also presents numerous obstacles.
Scaling vCISO services
An effective vCISO service can provide exceptional potential, including new revenue streams, an important upselling feature, the retention of existing clients, and a fantastic go-to-market strategy for attracting new business.
Scalability is the greatest obstacle: having one or two clients is one thing, but expanding beyond that in a sustainable manner is something else entirely. We will examine the primary obstacles to scaling vCISO services, as well as how to surmount them.
CISO duties are labor intensive
Similarly, to the preceding point, performing the duties of a CISO as a vCISO is time-consuming. There is an enormous amount of work to be completed, and with new regulations and hazards constantly emerging, a vCISO's work is never complete.
Scaled expertise is required
Many service providers have one security expert or a small team with C-level competence to cover their vCISO capacity. As these requirements develop, they cannot be delegated. Overworked key individuals affect retention, engagement, and client service. Growing swiftly with existing staff or hiring new experts is unsustainable. Security professionals must perform additional tasks.
Your security professionals are likely already extremely occupied. It is not practical to simply remove them from their current projects and clients and assign them to the new vCISO practise.
Risk assessments take time
A CISO or vCISO's primary responsibility is to conduct risk assessments. Among these are monitoring, documenting, and conducting analyses. A considerable amount of a security professional's time is consumed by these evaluations alone.
Risk evaluations precede planning
To make scaling even more difficult, the policies and remediation that must be implemented can only be implemented accurately after the protracted risk assessment has been completed.
Given these obstacles, how can you effectively scale your vCISO offering? Automated software is a crucial element for success.
The overwhelming volume of data that must be processed for each client makes it nearly impossible to manually scale a vCISO business.
Using automated, purpose-built software, on the other hand, enables the seamless scaling of a vCISO practise, thanks to all of the modern resources available, including cloud computing and advanced AI.
Complex algorithms utilise the best practises of CISOs from around the world to comprehend each business on an individual basis, perform automated risk assessments, and guarantee that a plan is generated that addresses all voids and regulatory requirements.
Software platforms can generate customised policies and remediation plans due to automation and AI.
Automated, AI-driven software addresses the majority of issues that arise when scaling a vCISO business:
CISO duties are labor intensive: With an automated platform, the software handles numerous labor-intensive duties, freeing up key personnel and providing a consistent and compliant experience. Scaled expertise is required: An automated, AI-driven platform enables service providers to offer all the CISO expertise in the world, and from a scalability standpoint, this can be offered to all the clients they could conceivably acquire.
Security professionals must perform additional tasks: Now, security specialists can focus on high-impact activities, such as time spent with clients, instead of time-consuming manual and frequently repetitive tasks.
Risk assessments take time: With AI and automation, risk assessments can be performed in a fraction of the time required by a human. This can typically be reduced from days to 2-4 hours.
Risk evaluations precede planning: This is no longer a stumbling block to scalability given the rapidity with which risk assessments are performed and the auto-generation of policies and remediation plans.
You can scale vCISO services straight away with the correct vCISO platform. You may stand out from the competition, enjoy significant margins, prove your value to current and potential customers, and add a dependable new revenue source.
Sign up and start selling with DataguardNXT. Get in touch with our experts for a demo and upscale your business.