The 3 Different Types of IT Service Providers

When it comes to choosing the right IT service provider for your business, you must first understand the various types of IT service providers available. As technology evolves rapidly, IT providers have increasingly specialized their services.

The IT market has evolved from small one-person operations offering what is known as a break/fix model or blocks of hours to support a business's IT needs.

While this is cost-effective for businesses on a tight budget, it often doesn't offer long-term benefits. Providers that still offer break/fix IT support may not prioritize their customers' best interests. This is because there’s no incentive to manage the client's IT proactively; they profit from the frequency of IT issues.

Conversely, Managed Service Providers (MSPs) adopt a proactive approach with a fixed monthly cost. Regardless of the number of problems that arise, MSPs address these within the agreed monthly fee. This model incentivizes MSPs to reduce IT support needs by actively managing and monitoring the client's IT infrastructure.

Let's examine the different types of providers and the advantages and disadvantages of each:

Managed IT Service Provider (MSP)

Pros:

• Access to a vast pool of technical knowledge with IT support engineers and project-specific engineers on hand to manage your business's IT needs.
• MSPs generally charge a fixed monthly fee, ensuring predictable costs and professional management of the network/infrastructure.
• Many MSPs now prioritize cybersecurity when supporting businesses, often outsourcing security-related activities to software solutions.

Cons:

• Typically, a contractual agreement of 12, 24, or 36 months is required, which necessitates careful selection due to the commitment involved.

Cloud Services Provider (CSP)

Pros:

• CSPs are specialists in providing cloud services and focus exclusively on cloud solutions for their clients.

Cons:

• Because CSPs concentrate solely on cloud services, they may not support physical office IT infrastructure, and there might be gaps in cybersecurity support, unlike MSPs that offer comprehensive services.

Managed Cyber Security Service Provider (MSSP)

Pros:

• Dedicated to securing your IT environment and cloud infrastructure, often featuring a specialized security operations center, a resource that many CSPs and MSPs may lack or outsource.

Cons:

• Primarily focused on security with limited knowledge in cloud and IT support services.

The type of provider you select will largely depend on your business's size and whether you have an existing internal IT department.

For small businesses with up to around 50 staff, an MSP is usually the first choice, given the limited scope for an internal IT resource.

Larger businesses with an internal IT department may commonly partner with MSPs, MSSPs, and CSPs for specialized services, a practice known as co-managed IT services.

MSPs are the most prevalent service providers and often bridge the gap in what CSPs and MSSPs offer. For example, if an MSP lacks a security operations center (SOC), this service might be outsourced to a third-party provider, ensuring clients receive the desired service through subcontracted solutions.

Navigating the type of provider you need shouldn't be a challenge. Contact us for assistance.

Overcoming Decision Paralysis with Microsoft Copilot

Have you ever found yourself staring at a sea of data, unsure of where to start? You’re definitely not alone. It’s called decision paralysis, and it happens to the best of us. When you're faced with a mountain of information and under pressure to make the right call, it can be overwhelming!

But what if there was something that could sift through all that data for you and turn it into clear, actionable insights? Well, that's exactly what Microsoft Copilot does, and it’s changing the game for decision-makers everywhere. Read on for how Copilot can specifically benefit your business and workflow!

What is Microsoft Copilot?

Microsoft Copilot is more than just a feature within Microsoft 365; it’s like having a data scientist at your disposal (in your computer, at least!). 

This tool is all about taking the stress out of decision-making by integrating with the Microsoft 365 suite of applications and simplifying complex processes in real-time. Whether that means diving deep into your Excel datasets, sprucing up your PowerPoint slides, or summarizing a day’s worth of emails in a few sentences, Copilot can help!

How Does Copilot Combat Decision Paralysis?

Imagine you’re trying to decide on your next big project or you need to present potential business strategies to your team. Instead of looking over spreadsheets for hours, Copilot analyzes your data and presents it in a digestible format in seconds! 

It’s a great tool to get progress started on tasks that are lying dormant: what better way to get the ball rolling than having an AI assistant suggest the best course of action based on the data you’ve inputted?

A Day With Copilot: Streamlining Your Decisions

Let’s walk through some real-life scenarios with Copilot at your side.

You start your morning by checking on a recent marketing campaign. You have data coming from multiple sources—click rates, engagement statistics, sales figures… it can get overwhelming fast! 

Instead of letting the numbers get the best of you, a quick prompt to Copilot can pull all this data into a comprehensive report that highlights the metrics that you need to care about. It will also suggest various actions based on the data. It’s quick, it’s easy, and most importantly, it’s clear!

Next, you're gearing up for a quarterly review meeting. Let’s say you need to present last quarter's results and forecast next quarter's strategies: the only problem is that creating the presentation completely fell off your task list! Microsoft Copilot steps in again, pulling your data and trends into a designed and editable PowerPoint presentation. It even suggests talking points based on included information so that you enter your meeting not just prepared but poised to impress!

Integrating Copilot into Your Workflow

If you're intrigued by the possibilities of Microsoft Copilot, integrating it into your workflow is straightforward. As we mentioned earlier, it’s built right into Microsoft 365, so there’s no need to juggle applications!

We can’t recommend Copilot enough to enhance your day-to-day productivity: it’s a powerful tool in your decision-making arsenal, eliminating mundane and complex tasks as a source of stress! 

Curious about how Copilot can streamline your personal decision-making process and help you make more informed, confident choices for your business? Reach out to our team of experts at www.next-works.com for a discussion on how to implement and best use Microsoft Copilot to suite your specific needs!

It Only Takes One Email: The Severity of Phishing Scams in the Construction Industry

Email has become crucial in construction, and for good reason: most projects rely heavily on coordinating with suppliers and subcontractors over email at multiple steps of the process! 

However, this convenience also brings a significant threat: phishing attacks. Construction firms face many phishing incidents where bad actors send emails to deceive recipients into believing they are legitimate. This kind of fraud easily leads to financial losses and damage to the company's reputation, making it much more than a nuisance…

A single deceptive email has the potential to trigger dire consequences for your firm, so let’s begin by discussing the most common ways you could be targeted by phishing attacks!

Understanding the Threat: Phishing in the Construction Industry

Construction firms are especially susceptible to phishing scams. In contrast to other sectors, construction frequently entails substantial financial outlays and delicate project details. Phishing scammers know this, and create emails that look like real bid requests or project updates from reliable suppliers to take advantage!

According to a 2022 study by Verizon, 82% of data breaches involved human error, including phishing attacks that target unsuspecting employees. 

The High Cost of Falling for Phishing Scams

If a phishing attack succeeds, your company becomes a victim. For instance, scammers might unlawfully take funds by rerouting payments to accounts. They could access vital project information, resulting in project delays and higher expenses. Your reputation as a firm is on the line as well: a successful phishing attack has the potential to make it much more challenging to attract and maintain clients!

Some recent statistics highlight the cost of these attacks:

● According to IBM's Cost of a Data Breach Report, $4.88 million is the average data breach cost in 2024.

● The Cybersecurity and Infrastructure Security Agency reported that targeted recipients open 30% of phishing emails.

● Over 90% of successful cyberattacks start with a phishing email, making it clear that these scams are the preferred method for cybercriminals to breach systems.

More Specific Reasons That Construction Companies Are Targeted

As we mentioned earlier, construction businesses face unique challenges that make them particularly vulnerable to phishing scams. Here are some specific reasons!

1. Frequent Supplier Communication: Scammers commonly pretend to be reputable suppliers or partners in the construction industry. As construction companies often share invoices, project information, and contracts with these entities, a phishing attempt disguised as one of these communications will likely succeed. 

2. Mobile Workforce: Many construction employees are often out in the field and rely heavily upon devices to check and respond to emails regularly; however, these devices are more vulnerable to phishing attempts due to less robust email security features! What’s more, the chances of being distracted are much higher on a mobile device…

3. High Turnover: Employee turnover rates in the construction sector tend to be significant; consequently, new hires may not have the knowledge to identify phishing scams effectively. You can guess the rest!

Best Practices for Phishing Prevention

Properly safeguarding your construction business against phishing scams involves a strategy that combines technology safeguards and company-wide training! Here are a few practical tactics you can use to fortify your defenses:

1. Invest in Email Security Tools with Phishing Protection

Protecting your email is crucial in guarding against phishing attacks. Software such as Microsoft Defender, Proofpoint, Sophos, and IRONSCALES utilize artificial intelligence to identify and stop phishing efforts before they can reach the recipients' email accounts. They also analyze your emails for links, attachments, and sender information to prevent deceptive messages from entering your inbox. 

Establishing these safeguards with a qualified IT Provider can simplify the setup process substantially!

2. Regular Employee Training and Phishing Simulations

It's essential to train employees to identify phishing emails by organizing frequent workshops and training sessions to teach them how to spot suspicious emails, as well as notice common red flags! Here’s an example of telltale signs of a typical phishindg attempt:

    https://www.next-works.com/resources/heist.php

Using simulations can also be impactful as a security measure in the workplace. These simulations include sending emails to staff members and monitoring those who interact with them. Employees who are tricked by these simulated attacks are then given training sessions to prevent it from happening again (with expensive stakes). 

3. Verify Financial Transactions and Invoices

One prevalent type of phishing scheme revolves around invoices and payment redirect requests. To avoid falling victim to this scam, it's essential to establish a verification procedure for every financial transaction your company conducts.

 For instance, requiring a phone call confirmation from a contact before authorizing substantial unusual payments can safeguard your business against significant economic setbacks. The extra effort is worth the peace of mind!

Moving Forward with a Proactive Approach

We hope this blog has helped you start thinking about how to safeguard your construction company against phishing scams effectively! Being proactive here is a must, and fostering a culture of alertness will significantly minimize your chances of succumbing to phishing attempts in the future. 

Of course, phishing is just one piece of the puzzle…

    https://www.next-works.com/msp.php#cybersecurity

What is the difference between anti-virus software and endpoint protection?

 

Anti-Virus Software

Primary Function: Designed to detect, block, and remove malicious software (malware) from individual devices.

Scope: Focuses on identifying known threats using signature-based detection methods.

Features: Typically includes real-time scanning, scheduled scans, and quarantine of infected files.

Limitations: Primarily reactive, meaning it relies on known malware signatures and may struggle with new, unknown threats1.

Endpoint Protection

Primary Function: Provides comprehensive security for all endpoints (devices) within a network, including desktops, laptops, mobile devices, and servers.

Scope: Protects the entire network by integrating multiple security measures such as firewalls, intrusion detection, encryption, and behavior monitoring.

Features: Includes advanced threat detection methods like behavioral analysis, machine learning, and sandboxing. It also offers centralized management, data loss prevention, and automated patch management.

Advantages: More proactive and adaptable to emerging threats, offering a broader range of protections beyond just malware.

In summary, while anti-virus software focuses on protecting individual devices from known threats, endpoint protection software offers a more holistic approach, safeguarding the entire network with advanced, proactive security measures.

Nextworks can deliver a comprehensive cybersecurity platform for your organization.

Helpful AI Tips

Start your journey with AI. We put together this cheat sheet to help guide you through interacting with AI as an everyday productivity tool.

Download the PDF version.

AI Is Taking Over (The Microsoft 365 Suite)!

Let's talk about artificial intelligence. No, it’s not taking over the world, but it is definitely changing how we handle our daily grind at work! Microsoft Copilot is one of the newest tools in the Microsoft 365 toolbox that is a great representation of how AI can transform your workflow: it's like having a hyper-efficient assistant who is already an expert on all the M365 apps you currently use.

 

Seamless Integration with Microsoft 365

Here’s what we mean when we say that Microsoft Copilot works effortlessly within the Microsoft 365 environment, enhancing the functionality of the applications you use daily:

• Outlook: Copilot can prioritize your emails, draft responses, and schedule meetings based on your preferences. Have a ton of emails that look like a chore to get through? Copilot can summarize them conciselyin seconds!
• Word: Copilot makes writing easy by suggesting edits and updates and helping you format text to meet your requirements.
• Excel: Data-driven decision making has never been easier! Copilot analyzes the data you enter, then generates reports and creates visualizations based on it.
• Teams: Copilot helps you prepare for your scheduled meetings and keeps them on track by summarizingdiscussions and tracking action items: all you have to do is show up!
• PowerPoint: Copilot designs visually appealing slides, incorporates relevant data, and refines your presentations in the click of a mouse.

 

The Benefits of Integration

As you can see, Copilot gives your M365 applications a boost and helps you use them more efficiently! Here are a few other tangible benefits of integrating Copilot into your daily work routine: 

• Enhanced Productivity: By automating routine tasks, Copilot boosts your overall productivity and helps you accomplish more in less time.
• Consistency and Accuracy: Copilot ensures that tasks are performed consistently and accurately, reducing the risk of errors.
• Ease of Use: Since Copilot is integrated directly into Microsoft 365, there is no steep learning curve: it works within the familiar interface of the applications you already use!
• Scalability: Copilot scales to meet your needs whether your team is small or large, enhancing efficiency across the board.

 

Get Started with Copilot Today!

Ready to work smarter and not harder within the Microsoft 365 suite?

Reach out to our team and start a conversation about how to best integrate Copilot into your business: we’ll schedule a free consultation and help you take the next steps to unlocking a new level of efficiency at work!

Let Nextworks help you get started with AI.

Why Get Cybersecurity Insurance

Cybersecurity insurance is increasingly essential for all companies as the risk of cyberattacks grows. Here’s why your business should consider it:

Coverage Types

If you handle customer data or store business information online, cybersecurity insurance helps protect against financial losses caused by incidents like data breaches, system hacking, and ransomware extortion payments.

Coverage Details

First-party coverage includes:

• Investigation of incidents.
• Risk assessment for future cyber incidents.
• Lost revenue due to business interruption.
• Ransomware attack payments (up to coverage limits).
• Notifying customers about cyber incidents and providing anti-fraud services.

Third-party or cyber liability coverage protects your business if a third party sues you for damages resulting from a cybersecurity incident. It covers attorney fees, court judgments, and regulatory fines.

Mandatory Notification

Cyber insurance helps companies notify customers about data breaches (mandatory in most states) and provides legal defense. Without it, these costs can quickly add up.

Other Steps to Take

The best insurance policy is one that you never use. Here are some steps you can take:

Prioritize Cyber Decisions: Treat cybersecurity decisions as important business choices. Consider risks and exposure when making decisions related to technology and security.

Educate Employees: Educate all employees about cyber threats and how their actions can impact data security. Awareness helps prevent vulnerabilities.

Comprehensive Approach: Develop a comprehensive data security strategy. Gain visibility into sensitive data, identify risks, and integrate your tech stack for efficient remediation.

Deploy Security Tools: Utilize services that offer real-time monitoring, anomaly detection, and threat prevention.

Conduct Periodic Reviews: Regularly review security measures and update them as needed.

Accurate Asset and Risk Classification: Classify assets and assess risks accurately to prioritize protection efforts.

Consider adding cybersecurity insurance to your risk management strategy to safeguard your business against cyber threats and their financial impact.