Privileged Access Management Cybersecurity Solutions MSPs and MSSPs can Roll Out Quickly, Then Scale

18

MAY 2021

By: Ali Gomulu

According to Frost & Sullivan, the managed security services provider (MSSP) market and related professional security services are poised for strong annual growth, thanks to rising demand for analytics platforms that support forensics and incident response.

In the Americas alone, the MSSP and PSSP market will reach nearly $19 billion by 2024, up from $12 billion in 2020.

This growth reflects an ever-evolving variety of threats, as attacks on enterprise and government agency networks and applications continue to rise. It is becoming nearly impossible for internal IT and cybersecurity teams to keep up with the volume and velocity of threats, driving them to tap into support from expert service providers who have more resources across many types of cybersecurity solutions, including Privileged Access Management.

Ironsphere, with its multitenant architecture, enables multiple users to share multiple isolated and virtually separated Ironsphere services running on a single instance. Based on this architecture, several groups of users representing different customers, business units, or subsidiaries, i.e., tenants, can be created.

Multitenancy makes it possible for MSPs wishing to expand their offering to include security and MSSPs wishing to add Privileged Access Management (PAM) and related services to their offerings.

Until now, it has been difficult for service providers to offer PAM without having to acquire multiple licenses and having to train administrators on often complex, non-productive management consoles.

It is not easy to manage multiple customers with different sets of requirements, configurations, and support requirements. The traditional approach, which is to deploy different instances to meet those customized requirements, adds extra operational complexity and cost.

Ironsphere’s multitenancy is a value-added feature that makes it much easier for service providers to manage multiple isolated and virtually separated customers and different divisions within the same customer by creating secure, partitioned domains with their own dedicated instance.

Here’s how it works.

  • MSPs or MSSPs’ hosts create tenants and assign administrators to each tenant. The tenant admin has the privilege of setting roles and access permissions of the users within the tenant environment.
  • Tenants are logically isolated from each other, and each tenant’s data remains invisible to other tenants. For data security purposes, a separate schema is created on the database for each tenant.

One of the great benefits of this approach is the simplicity associated with creating and administering tenants through a single platform, which will increase the visibility of the operations across their customer base, resulting in faster response rates to incidents.

New Business Models

As subscription and as-a-service adoption is increasing, MSPs and MSSPs are in search of ways to offer these models to their customers. Ironsphere’s multitenant architecture supports flexible license management by brokering the total license number and assigning/revoking them to their customers on-demand.

To illustrate, they can assign, as well as withdraw licenses to a customer at any time, based on the customer’s needs and requirements. Thus, MSPs/MSSPs can offer subscription models valid for a limited time, and once those subscriptions expire, the released licenses can be assigned to other customers.

In addition, a pay-as-you-grow model can be offered, allowing customers to increase their license volume as their business grows – simplifying scale.

Shorter Time-to-Market

Multitenancy gives MSPs/MSSPs the opportunity to scale their business rapidly, with shorter time-to-market, without the need for new deployments for each customer and adding new resources for new instances. Contrary to the traditional approach, whenever a new customer arrives, onboarding will involve nothing more than creating a tenant within the Ironsphere multitenant platform.

There are many other benefits, which you can learn more about by downloading our Solution Brief on multitenancy.

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