How much does managed cyber security cost?
When it comes to MSSP pricing, you’ll want to understand how two major factors interact: Your provider’s pricing model and the attributes of your organization.
Here’s everything you need to know.
Key takeaways:
- MSSPs typically cost about as much as one expert staff hire.
- MSSPs with predictable monthly pricing and unlimited service consumption help their clients stick to a budget.
- Most MSSPs will charge extra for incident remediation services. Corsica Technologies is a rare exception, offering coverage through a Cybersecurity Service Guarantee.
- The value of an MSSP should be calculated in terms of ROSI (return on security investment), not ROI, as cybersecurity measures aren’t intended to increase revenue.
How much do managed cyber security services cost?
Managed cyber security services typically cost $100 – $200 per hour, depending on the provider. Broadly speaking, MSSPs offer access to an entire team of cybersecurity experts for roughly the cost of one staff hire. Most MSSP clients pay between $5,000 and $20,000 per month for cyber security services.
Of course, the complexity of your environment will determine how your MSSP prices your services. Use our MSSP Pricing Calculator to estimate pricing for your organization.
How do pricing models vary between different MSSPs and MSPs?
There are two types of MSSP pricing models: predictable and unpredictable.
It’s important to read an MSSP contract thoroughly. Even if marketing and sales promise unlimited service consumption or all-inclusive pricing, the fine print may tell a different story. Unless the contract explicitly promises a fixed monthly fee with unlimited service consumption, then your cost is going to fluctuate month to month.
Unpredictable pricing models
Some MSSPs will bill per unit count, such as total users, total devices, or total service hours consumed. Think of this model like ringing up a cash register. Everything you need will be a separate line item with its own cost.
Predictable pricing models
Some MSSPs, such as Corsica Technologies, use a predictable pricing model. Costs don’t fluctuate based on changing numbers of users, devices, or service hours consumed. Rather, the client pays one predictable monthly price for the duration of the contract—even as service needs fluctuate up and down.
The benefits of predictable pricing
Predictable pricing empowers a client to stay secure while sticking to a budget. Where unpredictable pricing may eat into an organization’s margin or reserves, predictable pricing offers greater financial health for the client. That’s one of the main reasons we offer predictable MSSP pricing at Corsica Technologies.
What factors influence the overall cost of cybersecurity managed services?
The MSSP’s pricing model is one factor. Predictable vs. unpredictable pricing models have a significant impact on what a client will pay. However, factors on the client’s side influence cost even more. The complexity of the environment under management is the #1 factor that affects pricing.
Here’s what that looks like in detail.
- Number of employees
- Number of devices supported
- Network complexity
- Number of locations supported
- Regulatory compliance needs
Is incident remediation usually included in managed cyber security pricing?
The answer depends on the provider. Most MSSPs don’t include incident remediation in a client’s monthly price; rather, they will charge extra for those services as needed. However, Corsica Technologies covers the cost of incident remediation services, with limitations, under a Cybersecurity Service Guarantee.
This guarantee is unique in the MSSP industry, and it directly impacts the calculation of MSSP pricing when you compare Corsica to another provider. This guarantee offers coverage for the cost of Corsica’s remediation services in the following categories:
- Ransomware infection—up to $100,000 in remediation service cost covered.
- Business email compromise resulting in invoice fraud—up to $100,000 in remediation service cost covered.
- Regulatory fine due to cybersecurity incident—up to $100,000 in remediation service cost covered.
- Revenue loss due to cybersecurity incident—up to $50,000 in remediation service cost covered, with $2,500 deductible.
- Legal liability due to cybersecurity incident—up to $250,000 remediation service cost covered.
Learn more here: Corsica Technologies Cybersecurity Service Guarantee.
How does the level of security service affect the pricing range?
Most MSSPs offer flexible service bundles to align with the level of protection that the client requires. The more comprehensive the protection, the greater the cost.
MSSPs will consult with a client to determine what their attack surface looks like and what services they require to mitigate risk. Recommended service packages are usually driven by the complexity of the client’s environment, the baseline security of their systems and processes, and any net-new cybersecurity controls that need to be implemented and maintained over the long haul.
What are the main cost differences between basic and advanced security packages?
Advanced security packages will generally cost more than basic alternatives. The exact cost difference will depend on the client’s needs and the complexity of their technology stack.
MSSP offerings can be broken out into two categories—foundational security and advanced security.
Foundational cybersecurity services and tools
- Automated patch management
- Perimeter security (firewall)
- Data backup
- Antivirus software
Advanced cybersecurity services and tools
- Strategic cybersecurity consulting
- MDR (managed detection and response)
- DNS security
- Email security
- MFA (multifactor authentication)
- SIEM (security information and event management)
- Intrusion detection
- Vulnerability detection and management
- MDM (mobile device management) and/or MAM (mobile application management)
- Cybersecurity awareness training and testing
- Dark web monitoring
How do you calculate the ROI of managed cyber security services?
Managed cyber security isn’t intended to generate revenue, so an ROI calculation is meaningless. There’s no revenue to plug into the equation. Rather, the value of a security investment should be measured in ROSI (return on security investment).
ROSI is a measure of financial loss avoided. It’s expressed in terms of a percentage of the cost of the security investment.
Learn more here (and try a sample calculation): Cybersecurity ROSI Calculator.
Looking for favorable MSSP pricing?
Reach out to schedule a consultation with our cybersecurity specialists.
