OpenText Cybersecurity 2023 Global Managed Security Survey: Tool Consolidation is More Than a Trend, it’s a Demand

The impacts of a down economy are far reaching. Budget cuts, hiring freezes, and staff reductions are taking their toll on an already overstretched workforce….

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OpenText

June 21, 20232 min read

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The impacts of a down economy are far reaching. Budget cuts, hiring freezes, and staff reductions are taking their toll on an already overstretched workforce. Consider, for example, cybersecurity professionals. With more than 700,000 unfilled cybersecurity positions in the U.S. alone—and a relentless threat landscape—cybersecurity professionals must find ways to work smarter. Simple and effective security must be a priority.  

Results of a recent Managed Service Providers (MSPs) and Managed Security Service Providers (MSSPs) survey confirm tool sprawl is a primary concern for businesses. In the quest to gain efficiencies without compromising security, MSPs and MSSPs are seeing high demand for tool consolidation.  

According to respondents, a majority (86%) of MSP and MSSP customers want to consolidate their security tools. This is not surprising as the biggest challenges facing customers include cost savings, simplifying security programs, staffing shortages, and a lack of security expertise – all of which are heightened in this difficult economic climate. 

This image is a quote shown as a graphic with a group of people standing on a blue background with the Opentext Cybersecurity logo. The quote says "Most MSP and MSSP customers (86%) are looking to consolidate their security tools." This quote is from the 2023 Global Managed Security Survey

Consolidation is not limited to security solutions. Most (88%) of survey respondents also believe security and compliance tools are merging. Consolidation of tools – and budgets – enables security and compliance teams to share resources, both staffing and financial.  

This image is statistic shown as a graphic with 88% surrounded by a nearly complete circle on a blue background with the Opentext Cybersecurity logo. The text says "Percentage of MSPs and MSSPs that believe security and compliance tools are merging." This statistic is from the 2023 Global Managed Security Survey.

Security providers are responding to channel demand 

Eighty-two percent of MSPs and MSSPs cite a key customer requirement is the need for comprehensive, on-demand security. MSPs and MSSPs are eager to answer the call. 

This image is statistic shown as a graphic with 82% surrounded by a nearly complete circle on a blue background with the Opentext Cybersecurity logo. The text says "Percentage of MSPs and MSSPs that cite a key customer requirement is the need for comprehensive, on-demand security." This statistic is from the 2023 Global Managed Security Survey.

With a pulse on today’s complex security landscape, vendors like OpenText ™ are empowering MSPs and MSSPs with programs and solutions that help make security simple. Our goal is to remove the heavy lifting by helping MSPs and MSSPs efficiently and effectively secure their clients. This includes equipping them with a comprehensive cyber resilient portfolio of cloud-based data security and data management solutions available in a single, unified platform. 

By bringing together our flagship solutions and delivering them in a way that’s easy to consume and manage, we help MSPs and MSSPs reduce tool sprawl while improving overall security posture and cyber resiliency.    

To learn more, go to: https://www.opentext.com/products/security-cloud.

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OpenText

OpenText, The Information Company, enables organizations to gain insight through market-leading information management solutions, powered by OpenText Cloud Editions.

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