MSP Business School MSP Business School

In the latest installment of MSP Business School, Brian Doyle hosts an insightful conversation with compliance experts Bo Bito and Angelika Mayen from Render Compliance. The episode zeroes in on the increasingly critical subject of SOC 2 compliance for Managed Service Providers (MSPs), delving into the nuts and bolts of the process and offering pearls of wisdom for businesses considering the SOC 2 journey.
The discussion kicks off with a detailed expedition into the SOC 2 process, demystifying the steps from an MSP's standpoint. Bo and Angelica highlight the importance of involving experienced personnel or consultants early on and underscore the value of engaging with auditors in the initial stages. Offering a rare peak behind the SOC 2 curtain, they detail the differences between SOC 2 Type 1 and Type 2 reports, explaining the significance of each type in establishing and demonstrating a company's commitment to security and compliance.
Key Takeaways: MSPs looking to obtain SOC 2 compliance should start by evaluating in-house expertise, consider working with consultants, and connect with auditors early in the process.
SOC 2 Type 1 vs. Type 2: Type 1 evaluates the design of controls at a point in time, while Type 2 assesses how those controls operate over a period.
Engaging with technology and tools such as compliance platforms can streamline the SOC 2 process by organizing tasks and centralizing evidence collection.
Timeline and cost: A typical SOC 2 engagement may span nine weeks, with costs starting from $16,000 up to $40,000, depending on various factors like business size and control complexity.

In this informative episode of MSP Business School, host Brian Doyle engages in conversation with cybersecurity expert Matt Quammen, President of Optimized Cyber.   Together, they unravel the intricate world of cyber protection, showcasing the significance of safeguarding businesses in today's digital age. This dialogue invites listeners to explore the realms of vulnerability scanning and penetration testing, emphasizing their roles in maintaining robust security infrastructures.
Quammen emphasizes the importance of remembering 'why' businesses must prioritize cybersecurity – to prevent the crippling financial losses that cybercrimes can inflict. As a guiding principle that steers all cybersecurity endeavors, this 'why' permeates Matt's advocacy for simple yet effective security strategies. Emphasizing the three pillars of cyber risk – IT and security management, cyber insurance, and risk management – they dissect how each element buttresses a business's defense against cyber threats. Detailed discussions around the necessity of manual, professional penetration testing versus automated vulnerability scanning are elucidated, conveying the gravity of personalized security measures.
Key Takeaways: Cybersecurity should be underpinned by a passion for protecting businesses from financial losses due to cyber attacks.
Simplifying cybersecurity for business owners is essential; focus on practical measures like Multi-Factor Authentication (MFA) and password management.
A comprehensive approach to cyber risk involves 24/7 IT and security management, cyber insurance, and risk management through regular audits and third-party tests.
Penetration testing, as distinguished from vulnerability scanning, must be a manual effort to emulate the behaviors of real-world attackers.
MSP businesses can expand their services and value to clients by becoming the 'governor' of cybersecurity, orchestrating the right tools, processes, and partnerships.

No views Apr 27, 2024
Show Website: https://mspbusinessschool.com/

Guest

Matthew Quammen, President | Optimize Cyber
Linkedin page:   / matthewquammen   

Company: website: https://optimizecyber.com/

Hosts
Brian Doyle:  https://www.linkedin.com/in/briandoylevciotoolbox/

Show Website: https://mspbusinessschool.com/
Guest:
Name: Frank Raimondi
Linkedin page: https://www.linkedin.com/in/frankraimondi/
Company: IGI Cybersecurity & Nodeware
Website(s): https://igicybersecurity.com/ and https://nodeware.com/
About the Guest(s):
Frank Raimondi is a seasoned channel and partner strategy specialist currently associated with IGI Global, working specifically with their Nodeware product. With a wealth of experience spanning over two decades, Frank has a track record of fostering partnerships and alliances in the tech industry. He has previously held notable positions at Apple Computer and Intel, where he focused on maximizing value from hardware components and driving vendor relationships. His entry into the cybersecurity and software realm marks a significant transition from his earlier focus on hardware.
Episode Summary:
In the latest installment of MSP Business School, we are joined by cybersecurity expert Frank Raimondi from Nodeware, a part of IGI Global. This episode dives into the intricate differences between penetration testing and vulnerability scanning and their integration into the assessment processes for security validation.
We unravel the essentials defining each concept and explore their roles in fortifying MSPs against increasing cyber threats. Frank Raimondi elaborates on the vital mechanics behind vulnerability assessments and management, illustrating how these defenses act as a company's internal security checkpoints.
In contrast, he clarifies the crucial role of penetration testing performed by an external third party to ethically evaluate the security from an outsider's perspective. The conversation further navigates the relationship between these tests, cybersecurity insurance, and regulatory compliance, underlining the importance of ongoing scrutiny in an ever-evolving threat landscape.
Key Takeaways:
Vulnerability Assessments vs. Management: A snapshot of current system vulnerabilities against a continuous, proactive approach to mitigating them.
The Necessity for External Penetration Testing: MSPs must ensure that an independent third party carries out penetration tests for unbiased security validation.
Preparation for Compliance and Insurance: Active vulnerability management programs are becoming essential prerequisites for regulatory compliance and favorable cybersecurity insurance premiums.
Strategic Scheduling of Cybersecurity Tests: Implementing vulnerability management can prepare a system for penetration testing and vice versa. Importance of Cyber Hygiene: Frank highlights four pillars of cyber hygiene: security awareness training, MFA, email security, and vulnerability management.
Hosts
Brian Doyle: https://www.linkedin.com/in/briandoylemetathinq/
Robb Rogers: https://www.linkedin.com/in/robb-rogers-07415251/
Tim McNeil: https://www.linkedin.com/in/timmcneil3/
Sponsors
vCIOToolbox: https://vciotoolbox.com
OSR Manage: https://osrmanage.com