How to Budget for Managed Detection and Response (MDR)

How to Budget for Managed Detection and Response (MDR)

6-step guide for IT security

Introduction

As a security leader, you inevitably balance security needs with budget realities. Your budget makes it difficult to attract and retain qualified security professionals.


At the same time, the volume of security alerts coming off your security products will be overwhelming without a talented team you trust. One way to solve this problem is to hire an MDR provider to monitor your network, detect and investigate intrusions, and assist with rapid response to minimize actual loss or disruption.

Convincing your organization to invest in MDR can take some planning. As you prepare to talk to the C-Suite, you should anticipate the need to educate them on the overall value proposition to the business. You should also be ready to develop a common vernacular to understand how and why MDR can produce cost savings through lower costs and reduced business risk.


With those preparatory tasks in mind, here are six tried and true steps to help kick off the budget conversation, create a value proposition, sell MDR based on good business sense, and work toward a budget goal.

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