The investigation into the 2024 Virtual CISO status advances Cynomi’s customary analysis of the rising trend of virtual Chief Information Security Officer (vCISO) services. Based on the unbiased survey, there is a noticeable increase in demand for these services, benefiting both providers and clientele. The upwards trajectory is predicted to persist, with even speedier growth anticipated in the future. However, entities aspiring to enter the vCISO domain must tackle hindrances like technological limitations and a deficiency in security and compliance proficiency.
For further insights on the vCISO landscape, delve into Cynomi’s detailed report.
The Survey Report on the State of the Virtual CISO by Global Surveyz, an impartial surveying firm, commissioned by Cynomi, furnishes an in-depth comprehension of the vCISO prospects and obstacles confronting MSPs and MSSPs today. The report disseminates insights from 200 security stewards in MSPs and MSSPs furnishing cybersecurity strategic services or cybersecurity consultancy and employing 50 or more workers. It spotlights the escalating adoption of vCISO services by service providers, the motivations fueling this adoption, the hurdles encountered by MSPs/MSSPs, and strategies for surmounting them.
1. The Broadening Scope of vCISO Services
Commencing with the most notable statistics: in the imminent period, 98% of MSPs and MSSPs presently excluding these services from their repertoire will incorporate them. This remarkable surge, depicted in Figure 1, mirrors the mounting SMB demand for specialized cybersecurity and compliance proficiencies, and how vCISO services harmonize with service providers’ expansion and business aspirations.
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| Figure 1 – Timeline for offering vCISO services among service providers that don’t |
2. The Rapid Evolution of the vCISO Domain
Subsequently, it is intriguing to analyze the factors fueling this upsurge. SMBs face the responsibility of safeguarding their assets, ensuring compliance, and fulfilling cyber insurance prerequisites. Nonetheless, many lack the resources and capacity to employ a full-time security leader. The vCISO role equips SMBs spanning various sectors with first-rate cybersecurity and compliance expertise, in a flexible and cost-efficient format. MSPs and MSSPs grasp this necessity and the opportunities it offers, incorporating vCISO services consistently into their spectrum.
Presently, 21% of MSPs and MSSPs provide vCISO services. This trend is escalating, rising from 19% in 2023. It seems as though this is just the inception, with vCISO services gaining momentum and anticipated to skyrocket in the succeeding years.
The vCISO landscape is poised for a substantial transformation in the impending years. As per the report, almost all MSPs and MSSPs will introduce vCISO services within their offerings. 98% of MSPs currently lacking this offering will adopt it. This not only represents a remarkable surge in the ecosystem but also signifies a shift in the mindset of MSPs/MSSPs, viewing vCISO services as indispensable components of their future offerings.
3. vCISO Services – A Rewarding and Tactical Opening
The allure of vCISO services resides in the assorted commercial and consumer advantages stemming from their integration into the MSP/MSSP portfolio. 59% of service providers augmenting vCISO services observed a revenue and/or margin upsurge. Can you guess how many saw revenue rise by over 20%? Find the answers in the report.
Similarly, 43% of MSPs and MSSPs highlighted enhanced client security as a favorable effect of incorporating vCISO services, 38% noted heightened client involvement, and 38% could successfully cross-sell additional products and services.
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| Figure 3: Impact of Offering vCISO services |
These benefits illuminate how MSPs and MSSPs harnessed vCISO services to portray themselves as security frontrunners and credible advisory figures. This alteration has been lucrative, generating increased sales, clientele, and revenue. Both of these benefits align with the strategic objectives service providers have delineated for themselves in the upcoming year.
4. Hurdles in Providing vCISO Services and How to Tackle Them
Nevertheless, achieving vCISO success necessitates tackling specific hurdles, as demonstrated in Figure 4. 29% of participants highlight lacking the requisite technology to support and offer vCISO services. Furthermore, over a quarter feel they possess limited security or compliance expertise, inhibiting them from incorporating vCISO services into their offerings.
The initial capital needed to establish a vCISO offering and the scarcity of competent personnel are also perceived as impediments to vCISO adoption. This includes recruiting and training a security team, essential tools and technologies, and formulating working procedures to support clients. Recruitment poses a notably arduous challenge, given the scarcity of skilled personnel withknowledge is limited and expensive.
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| Figure 4: Primary Reasons for Avoiding vCISO Services |
Dealing with Security and Compliance Frameworks
The challenge of understanding security and compliance frameworks should not be underestimated. The study points out a concerning pattern: the majority (98%) feel swamped by the intricacies of security and compliance frameworks such as NIST, ISO, PCI-DSS, GDPR, and others. This lack of comprehension poses substantial obstacles for both service providers and their clientele.
Although the significance of these frameworks is indisputable – ensuring legal adherence and bolstering market positioning – many service providers face struggles in navigating this intricate terrain. This raises the query: what tools and resources can effectively enable service providers to maneuver through the labyrinth of compliance, guaranteeing both their prosperity and safeguarding their clients’ information?
5. The Importance of a vCISO Platform
MSPs and MSSPs should persist in seizing the opportunities presented by providing vCISO services. vCISO platforms are pivotal in achieving this goal. Service providers highlight that by utilizing a vCISO platform, they are able to harness the advantages of delivering vCISO services more rapidly. As indicated in Figure 5, MSPs and MSSPs have pinpointed the primary benefits of a vCISO platform as streamlining work procedures (36%), hastening the integration of new staff members (34%), convenient access to compliance frameworks (33%), along with increased earnings (33%) and effortless upselling (32%).
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| Figure 5: Primary Benefits of Omitting a vCISO Platform |
These perks directly tackle the complications faced by service providers. A vCISO platform acts as a technological solution enabling MSPs and MSSPs to furnish security and compliance services without requiring the services of internal security and compliance experts.
Such a platform assists service providers in mapping, managing, and comprehending security and compliance prerequisites. It also standardizes procedures and promotes clarity so team members understand how to leverage this information to enhance clients’ security stance. This setup permits team members of varying skill levels to deliver high-quality services and permits swift onboarding and value delivery by new team members.
The immediate consequence of the vCISO platform is A) an increased number of satisfied customers who are B) more content and C) more safeguarded, leading to enhanced earnings. In essence, the capability to expand and augment revenue from offering vCISO services is closely connected to utilizing a vCISO platform.
6. Security Approaches in 2025 for MSPs and MSSPs
Conclusively, what does this study consolidate? There is a substantial demand for vCISO services, as observed by MSPs and MSSPs themselves. Given that security and compliance stand as strategic priorities for SMBs, similarly prioritizing the provision of vCISO services by service providers is paramount. vCISO services facilitate the fortification of their clients’ security resilience, address compliance requirements, and propel the growth of MSPs/MSSPs.
It appears that, in the imminent years, scarcely any MSP or MSSP will abstain from providing vCISO services. A multitude of them will broaden their services repertoire to encompass vCISO by the conclusion of 2025. This aligns with their strategic objectives to expand and amplify their enterprises.
A vCISO platform plays a pivotal role in this strategy, assisting service providers in overcoming challenges related to technologies, teams, and security and compliance proficiency. A vCISO platform streamlines team onboarding, process development, and imparts the essential security and compliance knowledge requisite for service providers to guide their clients through their security expedition. The gratifying and lucrative outcome is the enhanced capability for MSPs and MSSPs to grow their operations as well, transforming this offering into a triumph for all stakeholders.
For deeper insights on the vCISO landscape for 2025 and beyond Download the Report.
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