The fast pace of cloud adoption means skyrocketing demand for cloud security services. The global cloud security market was valued at $37.87 billion in 2023 and will reach $156.25 billion by 2032, growing at a CAGR of 17.3%.

However, many companies lack the in-house expertise to secure their cloud environments and support innovation using new technologies requiring cloud computing capabilities (e.g. AI applications and IoT devices). Most turn to MSPs for managed cloud security services.

This high demand for cloud computing security presents significant business opportunities for MSPs to attract new clients or expand their footprint in existing accounts. However, to succeed in this competitive market, they must provide comprehensive cloud security services to cover all the bases.

Let’s explore the competitive advantage you can gain from offering cloud security solutions and how to structure your offerings to maximize the business impact.

Why MSPs should offer cloud security solutions

Adding cloud security to your service offerings allows you to meet your clients’ evolving security and compliance requirements, positioning yourself as an indispensable partner in their digital transformation journey. Cloud security services also make your packages more attractive by helping clients streamline vendor management and increase cost efficiency. Meanwhile, you can create new revenue streams and shift toward a revenue model based on long-term contracts and recurring revenue.

Essential components of a cloud security solution

Your cloud security services should address identity security, system security, network and WiFi security, application access security, and directory services by including these essential components:

• Cloud data security and privacy: Use robust encryption, access controls, and data loss prevention (DLP) tools to prevent unauthorized access and data leaks.

• Identity and access management (IAM): Support identity security with multi-factor authentication (MFA), single sign-on (SSO), and role-based access control (RBAC).

• Compliance and regulator adherence: Implement encryption, logging, and regular audits to meet regulatory requirements and provide comprehensive reporting.

• Security monitoring and threat detection: Provide 24/7/365 monitoring, anomaly detection, and intrusion detection and prevention to nib potential breaches in the bud.

• Cloud network security: Use cloud firewalls and virtual private networks (VPNs) to prevent unauthorized access and network segmentation to limit an attacker’s lateral movements.

• Vulnerability management: Implement automated patch management and regular scanning to proactively identify and address potential weaknesses.

• Data backup and disaster recovery: Implement a comprehensive backup and recovery plan to help resume cloud operations promptly after a security incident or outage.

• Endpoint management: Monitor and protect endpoints with access to a client’s cloud resources to prevent malware attacks and unauthorized access.

• Logging and incident response: Establish an incident response plan to minimize damage while providing detailed logging to support forensic investigations and compliance reporting.

How to build a successful cloud security service offering

So, what does it take to build a cloud security solution to attract more clients and increase profitability? Here’s what you need to cover all the bases:

Build the right tech stack

Your security stack should include all the necessary capabilities to address each client’s security requirements. Your tools should integrate seamlessly with your existing infrastructure and client systems to ensure seamless implementation and eliminate blind spots. Your cloud security stack must also support popular platforms like Microsoft 365, Amazon Web Services, and Google Workspace.

Automate cloud security workflows to ensure timely and accurate responses. Your tech stack should also include professional services automation (PSA) monitoring. Review regulatory requirements (e.g. HIPAA, DFARS, and PCI DSS) to ensure your tools provide the appropriate coverage. A tech stack based on NIST CSF and mapped to CIS Critical Security Controls helps you build a solid foundation to adapt to shifting regulations.

Incorporate client onboarding support

A cloud security tech stack is only as good as your ability to implement the solution and onboard your clients. Choose an all-in-one solution from a provider that offers comprehensive onboarding to integrate the solution with each client’s systems and harden their environments. The support reduces strain on your internal resources while ensuring seamless implementation to maximize the solution’s impact.

Additionally, ensure successful client adoption with a structured onboarding plan. Conduct a risk assessment and analysis to identify the most impactful areas of improvement. Customize cloud security tool configurations, provide comprehensive documentation, and establish compliance checkpoints. Also, set expectations for ongoing reviews and reporting to demonstrate how you deliver value and nurture long-term trust.

Include client training and education

Some may assume that built-in security features in cloud applications are sufficient to protect their systems and data. However, that’s rarely the case. Educate your clients about the importance of addressing cloud security in their IT strategy and implementing the right technologies to ensure policy and regulatory compliance.

Human errors and oversight are the most common cause of cloud security breaches, so help your clients set up employee training and education programs to reduce risks. Employee onboarding and ongoing education should cover incident response, privacy and regulatory compliance, secure application usage, secure cloud storage protocols, and secure data handling.

Consider scalability and ease of management

Choose a flexible and scalable solution to support your growth plan. For example, a SOC as a Service (SOCaaS) package offers all the tools you need at an affordable and predictable monthly fee while allowing you to add or remove capabilities to meet shifting demands without overwhelming your resources. You don’t have to manage individual vendors, so you can focus on delivering high-quality client services.

A SOCaaS platform like enhanced with a robust cloud security component offers all the security tools you need to streamline cloud management as you expand your MSP business. Our solution supports identity security across all apps and systems, provides cloud telemetry for monitoring hybrid cloud environments, and improves visibility into critical SaaS applications in a one-stop-shop package.

Add cloud security services to your MSP offering with enhanced

MSPs must integrate cloud security into their offerings to stay relevant and competitive. Evaluate your current security stack to identify gaps and explore comprehensive solutions like enhanced’s cloud security solution to enhance your cloud security capabilities and pave the way to future growth without straining your resources.