If your accounting firm, wealth management practice, or finance business is looking for secure, reliable IT support, understanding modern managed security service providers (MSSP) and managed IT services is vital. To clarify, this detailed guide, built for U.S. companies, breaks down what MSPs and MSSPs are, how they work, why the finance sector is flocking to them, and what numbers, comparisons, and facts you need to know before you choose a partner.
Managed IT Service Providers (MSP)
Managed IT service providers (MSPs) are expert companies hired to remotely manage your IT systems, networks, cybersecurity, and daily technological operations—often replacing or supporting your in-house IT team. In essence, they work under a service level agreement (SLA), ensuring uptime, security, compliance, and ongoing support for a fixed monthly fee.
Key Functions of an MSP
- 24/7 system & network monitoring
- Proactive cybersecurity management
- Backup & disaster recovery planning
- Cloud infrastructure & migration services
- Helpdesk & technical support
- Compliance & risk management
Why Do Accounting & Finance Firms Need MSPs?
- Regulatory compliance (SOX, GLBA, etc.)
- Client data security & privacy
- Minimized tech downtime
- Cost efficiency & predictable IT budgets
- Access to specialized IT expertise
- Scalable solutions as your practice grows
Managed Security Service Providers (MSSP)
A managed security service provider (MSSP) is a specialized type of MSP focusing solely on cybersecurity. Specifically, they deliver managed IT security services—protecting your firm’s data, infrastructure, and reputation against modern cyber threats 24/7.
MSSP Definition: “A third party that protects an organization’s applications, devices, and systems against cyberthreats, delivering monitoring, detection, response, and compliance management remotely.”
What Does an MSSP Do?
- Monitors networks for cyber threats 24/7
- Provides threat detection & incident response
- Manages firewalls, antivirus, and security devices
- Delivers vulnerability assessments & penetration testing
- Ensures compliance with industry regulations
- Manages security event logging, SIEM, and fraud detection
Examples of MSSP-Covered Services
| Service | In-House Team | MSP | MSSP |
|---|---|---|---|
| PC/Server Maintenance | Yes | Yes | Limited |
| Cloud Migration | Yes | Yes | No |
| Help Desk Support | Yes | Yes | No |
| Network Security | Yes | Yes | Yes (Advanced) |
| 24/7 Cyber Threat Response | Possible | Sometimes | Yes (Core Service) |
| Compliance Monitoring | Possible | Sometimes | Yes (Expert Level) |
| Penetration Testing | No | No | Yes |
| Data Loss Prevention | No | Sometimes | Yes |
How Does a Managed IT Service Provider Work?
- Initial Assessment: They audit your technology, security, and compliance needs; afterward, this sets the foundation for your strategy.
- Customized Plan: Develop and propose your tailored IT support & cybersecurity roadmap; to that end, aligning services with your specific goals.
- Onboarding: Rolling out monitoring tools, integrating your systems, and transferring knowledge; at the same time, ensuring minimal disruption.
- 24/7 Monitoring & Management: Proactive maintenance, alerting, and incident resolution; meanwhile, keeping operations running smoothly.
- Ongoing Optimization: Continuous improvement, compliance reporting, and tech upgrades; in the long run, strengthening your security posture.
In practice: For an accounting firm, an MSP or MSSP might ensure encrypted email for client tax docs, set up cloud QuickBooks, provide secure remote access for staff, and monitor for ransomware—all while handling regulatory audits.
Real Industry Numbers & Trends
- The global MSP market is expected to hit $595B in 2025, growing around 13% year-over-year; comparatively, North America is seeing 12% annual growth.
- Managed security services are projected to reach $25.67B worldwide in 2025; moreover, there is significant adoption from the financial sector.
- 82% of IT professionals say they’ve already partnered with or plan to work with an MSSP; in other words, the shift toward managed services is well underway.
- For every cyber-attack, the average cost for a financial firm is over $6M; as a result, robust MSSP investment has become critical.
- Leading MSSPs now provide zero trust, real-time SIEM, and AI-driven threat detection; not to mention, these features are already common in top U.S. finance firms.
Benefits for Accounting & Finance Firms
- Continuous regulatory compliance: GDPR, SOX, GLBA, etc.
- Reduced risk of breaches/fines: Proactive threat hunting & incident response
- Lower IT cost: No need to continuously hire/train IT staff, single predictable fee
- Improved productivity: Less downtime, seamless software updates
- Faster adoption of cloud/accounting solutions: Secure migration and ongoing cloud support
Practical Example: “Mary’s Accounting”
Mary’s small CPA firm in Chicago manages hundreds of sensitive tax records. After a phishing attempt, she hired an MSSP. Subsequently, they:
- Installed next-gen email filtering & malware protection
- Provided 24/7 monitoring with a U.S.-based SOC (Security Operations Center)
- Ran regular vulnerability scans
- Delivered compliance reports for audits
In her words:
“With my MSSP, cyber threats are blocked before I even respond to them. I save time, sleep better, and my clients trust I safeguard their personal data.”
Side-By-Side: MSP vs. MSSP vs. In-House
| Feature | In-House IT | MSP | MSSP |
|---|---|---|---|
| General IT Management | Yes | Yes | Sometimes |
| Advanced Cybersecurity | Sometimes | Basic | Yes (Specialized, 24/7) |
| Compliance Expertise | Limited | Some | Yes (Regulatory Focused) |
| Cloud Hosting & Migrations | Sometimes | Yes | Rarely |
| Real-Time Threat Response | Unlikely | Often Limited | Yes (Core Service) |
| SIEM & Zero Trust | No | Sometimes | Yes |
| Cost-Efficiency | Low | Medium–High | High (Comparative ROI) |
| Best For | Large Firms | SMBs, Non-regulated Firms | Regulated, Data-Sensitive Orgs |
Must-Have Features in a Top MSSP
- 24/7 Security Operations Center (SOC)
- Advanced threat intelligence
- Automated & human-led incident response
- Penetration testing & vulnerability management
- Compliance reporting (all major frameworks)
- Managed firewall & endpoint protection
- Rapid incident resolution (measured in minutes)
- Cloud security integration
- Transparent pricing/SLAs
Why the Finance Sector Needs an MSSP Now
- Ransomware attacks increased by 50% in 2025; finance remains the #1 targeted sector.
- Regulatory fines for non-compliance now average $4.2M per incident.
- IBM’s Cost of a Data Breach 2025 report: Financial firms see the highest average breach costs.
- AI-powered threats require 24/7 managed detection & response (MDR/MSSP) for real protection.
FAQ: Managed IT Services & MSSP
A managed security service provider monitors and protects your systems from hackers and threats, acting as your cybersecurity goalie 24/7.
MSPs cover all IT operations, whereas MSSPs are cybersecurity specialists providing advanced threat protection and compliance.
Yes—finance regulations and modern threats demand specialist, around-the-clock coverage that MSSPs provide; moreover, they often supplement your IT staff.
1.Repeated attacks/phishing emails
2.Concerns over compliance audits
3.Staff working remotely/cloud migrations
4.Growth in data privacy requirements
Usually not! MSSPs often save money by preventing costly breaches and fines, and by replacing multiple security tools/services with a single provider.
A typical MSSP starts with a security assessment, then, configures tools for your systems, sets up 24/7 monitoring, and provides a compliance roadmap.
Final Thoughts
To begin with, choosing the right managed security service provider (MSSP) or technological partner is now a necessity—not a luxury—for every accounting and finance firm in the US. After all, the numbers don’t lie: the world is, after that, steadily moving towards specialized, managed IT security services for one simple reason—peace of mind. If your firm values not only client trust but also regulatory compliance and operational uptime, then, all things considered, a partnership with a leading MSP/MSSP is the most strategic investment you’ll make in 2025.
Secure Your Practice with Expert IT Security – Get a Free trail from OneUp Networks Today!
Protect your data, stay compliant, and focus on your clients—let OneUp Networks handle your IT security.
Contact Us Now – Your Peace of Mind Starts Here.
Don’t Miss These Helpful Blogs:
