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WATCH: Continuum Exec Explains How Cybersecurity Can Make Or Break Your Business

A new study finds that ninety-three percent of small and medium-sized businesses would consider moving to a new managed service provider if they offered the “right” solution. Continuum’s Brian Downey explains the results.

Cybersecurity has become the defining factor in a managed service provider’s success as a new study finds that many small and medium-sized businesses would fire their MSP or even take legal action against them in the event of a breach.

Continuum’s study looked at 850 global SMBs consisting of 10-1,000 employees. Ninety-three percent said they would consider moving to a new MSP if they offered the “right” cybersecurity solution, even if they weren’t planning to change. The survey comes as hackers increasingly target MSPs in an effort to infiltrate their customers’ networks -- the recent Wipro breach, in which hackers targeted its internal systems and launched attacks against at least a dozen of its customers, is just the most recent example.

“After a breach, an SMB is likely to fire an MSP and they will hold an MSP accountable. On top of that – even prior to a breach if someone offers them a better solution, they are willing to fire their current MSP and go with someone else just because they have the ability to provide a better solution,” said Continuum’s Brian Downey, senior director of product management.

The study also finds that seventy-nine percent of SMBs are looking to increase their cybersecurity spending over the next 12 months, which Downey says presents new opportunities for an MSP.

Learn more about the study and Downey’s tips for MSPs in CRNtv’s video.

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