Managed Services

Managed Services

Given the nature of services provided by managed services providers, performing cybersecurity and IT compliance initiatives are commonplace. In today’s cost conscious world, managed service providers provide a cost effective solution to production support needs. Companies utilize managed service providers to transfer the day-to-day related management responsibility of information systems, including applications, databases, information security, backup & recovery, network management, and system monitoring. Typically, the managed service provider is assigned administrator level access, which exacerbates the need for strong internal controls. Implementing a robust compliance program can be used as a competitive advantage. Increasingly, managed service providers are asked to implement and maintain a compliance program that demonstrates their commitment to a strong system of internal controls. Control frameworks (such as SOC 1, SOC 2, ISO 27001, etc.) are widely accepted and help managed service providers differentiate themselves from their competitors by demonstrating their commitment to maintaining a strong IT compliance program.