Contact us 
Login 98% of MSPs and MSSPs That Don’t Offer vCISO Services—Will, Hundreds of Security Leaders Report
Demand for vCISO services is growing among SMBs, and MSPs and MSSPs are identifying this as a strategic opportunity to grow their business and profits. Yet, the same service providers are worried they lack the technology and security and compliance knowledge to reap the benefits, which include enhancing customer security and upselling their products and services. A vCISO platform has been proven to help address these challenges and be a key component in the vCISO strategy. These are the findings of the new “State of the vCISO 2024 Report” commissioned by Cynomi.
The survey spanned 200 security leaders from North America in MSPs and MSSPs with 50 or more employees. They are all security-focused, providing cybersecurity strategic services or cybersecurity consulting.
vCISO Services: From Sporadic Offerings to Table Stakes
This is the second year in a row the report has been conducted, and it’s interesting to see how the MSP and MSSPs industry evolving. In 2023, only 19% of MSPs and MSSPs offered virtual CISO services. Now, the percentage has climbed to 21%, and is expected to reach 39% by the end of 2024. Even more striking, last year, 86% of service providers were planning to offer vCISO services at some point. This year, the percentage grew to over 98%! This shows how vCISO services are becoming table stakes for MSPs/MSSPs and their customers alike.
The Benefits: Better Customer Security, Better Sales
The upcoming vCISO surge is not surprising, since 43% of MSPs and MSSPs that added vCISO services report they improved customer security. In addition, 36% were able to enhance client engagement and 38% upsold more products and services while 35% expanded to new customers as a result of offering vCISO services. Overall, more than half (59%) of service providers that added vCISO services increased revenue and/or their margins!
The Challenge: Technology and Skills
So why aren’t all service providers offering vCISO services yet? Offering vCISO services comes with its own set of challenges, which service providers need to overcome. These include lack of technology (29%), lack of relevant security and compliance knowledge (26%) and lack of skilled personnel (24%).
In other words, MSPs and MSSPs need a hand before they turn a profit.
The Solution: A vCISO Platform
A vCISO platform is the technological foundation for MSPs and MSSPs that aspire to offer vCISO services. The platform streamlines the vCISO service offering in the company. This is done by establishing structured processes, from risk assessment to policy creation to task management to reporting. It also provides all security and compliance knowledge required through frameworks and policies. Finally, it provides information and reports that can be shared with leadership.
No wonder, then, that MSPs and MSSPs that use such a platform report business and security achievements like standardizing work processes (36%), accelerating onboarding of their new employees (34%), easy access to compliance frameworks (33%), increased revenue (33%) and easy upselling (32%).
These unheard of success rates do not demonstrate a high ROI. They are also the answer to the challenges raised by service providers. vCISO platforms provide the knowledge and know-how needed without requiring services providers to hire expensive personnel or invest heavily upfront. Simply because any team member can provide high-quality services with a vCISO platform.
As 2025 approaches, seems like MSPs and MSSPs planning for growth and scalability will be integrating vCISO services into their business strategies. Those truly committed to success are leveraging a vCISO platform to maximize their results.
