Apptega, an industry-leading end-to-end cybersecurity compliance platform company, unveiled the findings of its inaugural “State of Continuous Compliance Report,” which offers insight into the com...
First-of-its-kind compliance benchmarking report reveals Managed Service and Security Providers lack the knowledge, technology and resources to fully capitalize on continuous compliance as a revenue opportunity – even as growth expectations surge
ATLANTA: Apptega, an industry-leading end-to-end cybersecurity compliance platform company, unveiled the findings of its inaugural “State of Continuous Compliance Report,” which offers insight into the compliance trends, challenges, and opportunities that managed service and security providers face today. Amid a rapidly evolving business landscape, this report serves as a roadmap for these providers to improve business growth and revenue in a competitive market.
The report found that 85% of providers face “significant challenges” maintaining compliance for customers, with lack of resources, expertise, or technology cited as the most common roadblocks to offering managed compliance. That being said, the survey also found that 87% of respondents are open to delivering compliance services through a compliance automation platform, but only about half of these providers are currently doing so. When considering that 70% of managed service and security providers are targeting at least double-digit recurring revenue growth, it’s clear they are leaving money on the table when it comes to leveraging their compliance offerings to help meet aggressive business growth goals.
“A golden era of seemingly unfettered growth in managed services is slowly coming to an end in 2024 as we now appear to be entering a phase of consolidation, M&A, and private equity-backed rollup where only the strong balance sheets will survive and only the differentiated will thrive — or successfully exit,” said Dave Colesante, CEO at Apptega. “Our new report paints a clear picture: In a cutthroat environment where recurring revenue and margin growth is at a premium, continuous compliance services represent a lucrative opportunity.”
Apptega’s survey revealed the following key findings on the current state of compliance among managed service and security providers:
“Clearly, managed compliance represents a lucrative opportunity for the relative few services and security providers equipped to offer it,” said Christopher Yula, VP of Sales & Strategy at CyberSecOp. “Unfortunately, most lack the technology, resources and know-how to deliver an impactful assessment and follow-on program. At CyberSecOp, we've partnered with Apptega to go to market with a differentiated continuous compliance offering that allows our world-class security expertise to shine."
Other interesting findings from the report include:
The State of Continuous Compliance Report is based on a survey from March to May of 2024 of practice leaders and senior operators at 115 providers that offer security services. Apptega’s findings illustrate how managed service and security providers can realize new business opportunities and go to market more effectively with lucrative security and compliance solutions. To learn more about the report and download a full copy, please visit this page.
About Apptega
A perennial G2 leader across various risk management categories, Apptega is the end-to-end cybersecurity compliance platform that security-focused IT providers and in-house teams use to build and manage cybersecurity compliance programs simply, quickly, and affordably. It’s trusted by hundreds of MSSPs, MDR companies, and security-focused MSPs that are growing lucrative compliance practices, creating stickier customer relationships, and winning more business from competitors. To learn more, visit apptega.com.
Fonte: Business Wire
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