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86% of MSP customers looking to consolidate security tools

New research from OpenText has revealed more businesses are experiencing resource and cost constraints, with 86 per cent of MSP and MSSP customers looking to consolidate security tools.

The OpenText Cybersecurity 2023 Global Managed Security Survey captured the views of over 1,000 managed service providers (MSP) and managed security service providers. The research showed that an overwhelming majority (88 per cent) of respondents think security and compliance tools are merging.

The survey also revealed that integrating technology solutions is the biggest challenge for establishing a new partnership, with 32 per cent of MSPs and MSSPs reporting the need to overcome this barrier when partnering with vendors.

Geoff Bibby, senior vice president of marketing and strategy, OpenText Cybersecurity, added, “Staffing issues that have plagued the security industry for years are getting worse due to today’s complex economic environment. As a result, already short-staffed teams must find creative ways to do more with less.

“With limited time and security resources, simple and effective security must be a priority. MSPs equipped with a comprehensive cyber resilient portfolio of cloud-based data security and data management solutions are uniquely positioned to help clients gain efficiencies without compromising security.”

In addition, MSPs and MSSPs cite the biggest challenges facing their customers are cost savings (28 per cent) and the need to simplify security programs (26 per cent). Staffing shortages or reductions and lack of security expertise are also key customer challenges.