In case you’re not familiar with the term, we can define MDR as “managed detection and response,” a special type of cybersecurity service that many different organizations use to greatly enhance and increase their ability to detect and respond to a variety of security incidents and threats.
Although many people might think that this only applies to technology companies, financial institutions and other such organizations, the simple reality is that our world is now more digital and interconnected than ever before.
This means that even construction and building companies need to be aware of and prepared to face a variety of security threats. In today’s advanced world where hackers and criminals have access to some very sophisticated tools that can be used to do great harm, having the right kind of protection is crucial for the health and survival of your company.
This is why construction companies of all sizes should now consider employing a managed detection and response (MDR) service that will help protect their digital assets. Whether we are talking about proprietary information, customer details or banking information, having a managed detection and response service unlisted will help keep all of these pieces of valuable information safe.
What Can MDR Do For Your Construction Company?
Let’s take a closer look at all of the main reasons as to why using a nation-state-grade managed detection and response service can be beneficial for your construction company.
Remember, no matter how big or small you are, if you use technology to store, handle and process information, then said information is also susceptible to theft, and this means that you need the right kind of protection.
1. Threat Detection
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As a base layer, a well managed detection and response cyber security service will provide you with a variety of threat detection systems. These include intrusion detection systems, intrusion prevention systems, endpoint detection and response systems and security information and event management solutions.
These are all different ways in which a managed detection and response service can help scan and monitor your system for any signs of malicious activity which may put you, your employees, your finances and your clients at risk. This generally involves many different pieces of advanced software that continuously monitor your systems to ensure optimal security levels.
2. Incident Response
A good MDR service should be able to prevent most security incidents from occurring, but there are some cases where malicious individuals may be able to breach their system. At the very least, there are those that may unsuccessfully attempt to breach your system.
In this case, when such a security incident is detected, managed detection and response providers employ teams of highly qualified security experts who will investigate the incident on your behalf, determine the impact in the scope of the incident and then develop a response plan.
This may involve isolating various affected systems, removing malware and also taking various steps to prevent the incident from spreading further.
3. Continuous Monitoring
A key benefit of a managed detection and response service is that they monitor all of your systems around the clock.
This way, even when you are away from the job site and sound asleep, an MDR service will constantly monitor your information technology environment to ensure that threats are identified, addressed and taken care of, even outside of regular business hours.
4. Security Analytics
Managed detection and response services will incorporate many different types of advanced analytics systems and machine learning algorithms to identify various anomalies and patterns in network traffic and system behaviour.
This is one of the more advanced features that a reputable MDR service comes with, as it can help to manage and detect threats that are not apparent otherwise. This means that even a well-hidden threat that might sneak through other security systems should not be a threat to your construction company.
5. Threat Intelligence
Yet another benefit that every construction company can reap from a good managed detection and response service is threat intelligence.
Threat intelligence feeds are designed to stay up to date with the lightest and most advanced of cyber security threats and vulnerabilities that may affect your construction company. This allows a MDR service to proactively protect your company and your assets.
6. Alert Triage
A managed detection and response service also engages in what is known as alert triage, which means that they always gauge just how important security concerns are.
This means that if your construction company suffers some sort of large security incident that is deemed as a big threat, then your issues will take priority over the smaller security incidents of others.
7. Customization
What is also important to note about any high quality managed detection and response service is that they can be customized to meet your specific needs.
As a construction company, you likely have very specific needs surrounding your online information, assets and more. By choosing a managed detection and response service that allows for customization, you can choose the features and security tools that will benefit you the best.
8. Reporting and Compliance Information
Being well protected by an MDR service is one thing, but even better is the fact that any quality managed detection and response provider will also provide you with reporting.
This means that they will tell you exactly what your security posture or stance is like, what kind of security incidents you are at risk of suffering from and any service worth the money will also demonstrate your compliance with industry regulations and standards.
The simple fact is that many construction companies need to adhere to strict compliance regulations in order to maintain operations and this is exactly what an MDR can help with.
9. Collaboration
Something else to consider is that MDR teams generally work quite closely with your construction companies in-house information technology and security teams.
Providing your own security officers with support and expertise allows your company to maintain a more secure stance regardless of the managed detection and response service.
10. Scalability
Also worth considering is that a managed detection and response service should generally be scalable, which means that no matter if you have 3 employees or 300 employees as a part of your construction company, an MDR will grow with you and have you covered.
Construction companies often have different needs, even from one project to the next—something that a managed detection and response service can certainly help with.
11. Reduced Downtime
What a good managed detection and response service can do for your construction company is to reduce overall downtime.
When you have a construction company, you likely have valuable information online that you need to access in order to meet construction projects that have tight deadlines.
With an MDR service, you can minimize or even eliminate downtime to ensure that you always have access to this information, so that you never go past deadlines.
12. Protecting Your Intellectual Property
A construction company is likely to have a lot of intellectual property. Things like processes, designs, plans, blueprints and more can all be extremely valuable.
A managed detection and response service will help protect these intellectual property assets from unauthorized access and theft, helping your construction company save a lot of money and hassle.
13. Cost-Effective Security
What you also need to consider is that as a construction company, hiring your own in-house security team can be extremely expensive.
However, there are plenty of MDR cybersecurity providers out there that have cost effective plans. This can allow you to save money and increase your overall profits.
14. Mitigating Risk of Loss
If security incidents occur, construction companies may be at risk of suffering legal actions and damage to their reputation, in addition to their financial losses. These can all result from a security breach, which in MDR can help prevent and mitigate if necessary.
15. Allowing for a Focus on Core Competencies
Also worth thinking about is that construction companies are designed to do one thing: construct. By outsourcing your cyber security needs to a managed detection and response provider, you can focus your efforts on core competencies—building and managing construction projects. This means that you don’t have to divert time and resources to security concerns.
16. Educational Features
There are also plenty of great MDR cybersecurity providers out there that will provide employees with training and awareness programs that will help your employees detect security threats as they occur.
Conclusion
The bottom line here is that a managed detection and response service can be extremely useful, and this is the case for both small and large construction companies. If you plan on protecting your information and assets, then using an MDR is recommended.
Feature image: Scott Webb; Image 1: Adi Goldstein
