Given the rise of cyber attacks and the parallel shortage of skilled resources, outsourcing cybersecurity and compliance has become a go-to strategy for organizations. Outsourcing cybersecurity involves hiring third-party vendors to provide services and/or solutions to secure computer networks and data from cyber threats. This can range from IT desk support to real-time network monitoring.
In recent years we have seen cyber threats emerge on a scale like never before. Studies have shown that Managed Security Service Providers (MSSPs) is projected to reach $43.7 billion by 2026.
However, it is not the easiest decision. You need to first asses and determine whether outsourcing cybersecurity responsibilities is good for your organization.
Why is cybersecurity important?
In today’s business environment, cybersecurity has become a non-negotiable. The more technology-reliant a business becomes, the more susceptible it becomes to cyberattacks and vulnerabilities. As per the CISA, in 2023 nearly 43% of all cyber attacks targeted small businesses. This shows the rising need for SMB cybersecurity.
What is the difference between outsourced and in-house cybersecurity solutions?
In-house cybersecurity refers to an internal security operations team that is employed full-time by your company. It comprises a team of cybersecurity experts supervised by the Chief Information Security Officer (CISO). They are your core employees responsible for everything from audits and vulnerability management to threat prevention strategies.
Outsourcing cybersecurity solutions, on the other hand, refers to the act of hiring third-party vendors to oversee your cybersecurity infrastructure remotely. The scope of these services varies depending on many factors and specific requirements. In such cases, you can outsource cybersecurity operations depending on your current needs as well such as just monitoring or when a cyberattack occurs.
Each option comes with its own set of benefits. When outsourcing these services you can customize plans to fit your budget and cut down on any unnecessary overhead costs.
What are the Benefits of Outsourcing Cybersecurity?
1. Skilled Experts
Outsourcing cybersecurity services provides businesses with access to a team of specialized professionals with extensive knowledge and experience. These experts have advanced certifications and qualifications in varied industries, allowing them to navigate the complex cyber threat landscape effectively. Outsourcing cybersecurity providers allows organizations to tap into a broad range of skills and domain expertise, such as compliance and threat prevention. Their sole purpose is cybersecurity and upholding your security position.
2. Reduced risks
With dedicated, 24×7 cyber security they keep track of your organization’s cyber safety beyond business hours. This around-the-clock surveillance drives cybersecurity risks down considerably.
Additionally, they can be more insightful when it comes to existing and emerging threats. Their ability to promptly detect and respond to cyber threats makes them a great solution. Most service providers offer proactive threat identification and timely incident response, which is extremely helpful. By leveraging cutting-edge tools, technologies, and threat intelligence, they can minimize the potential impact of security breaches.
3. Cost Effective
In-house cybersecurity can be extremely expensive and out of budget for most SMBs. However, this does not mean they cannot have reliable cyber security in place. Outsourcing these services often proves to be a better investment. You can get the same level of expertise, if not higher, at lower costs. Furthermore, an external provider reaps immediate value with faster results.
4. Scalability
As your business grows so do your cyber security needs, Cyber threats become more evolved with business growth, changes in industry trends, and newer regulatory changes. Most providers possess the capacity to scale their services to meet changing demands, ensuring seamless support during peak periods or in response to emerging threats. This agility allows organizations to adapt their security strategies without disrupting ongoing business operations.
5. Compliance with Industry Regulations
For businesses to truly thrive, they need to be in check with the industry’s compliance laws — especially when it comes to cybersecurity. With the constantly changing regulators and security standards, this can be extremely complex to navigate. External providers bring their diverse expertise that helps effective cybersecurity solution delivery while maintaining compliance. By leveraging their in-depth knowledge of regulatory requirements, they help organizations establish reliable and compliant security frameworks.
What is a Hybrid approach?
A hybrid approach is a combination of an in-house cybersecurity team as well as outsourcing specific services to an external provider.
While having an in-house team seems sufficient, they may not have the capability to handle high-level cybersecurity by themselves. Adopting a hybrid approach to cybersecurity can be a viable solution.
By combining in-house cybersecurity capabilities with external consultants and managed security service providers, businesses can make the best of both options. This allows for a smaller internal team to handle day-to-day maintenance, while the external team provides extensive support as an additional layer of protection during more critical events.
Most often, external operations can also function as support for internal processes and provide their expertise on a consultant basis.
Cybershield CSC makes outsourcing cyber compliance and security extremely easy. As a reputable and trustworthy provider, we ensure the security of your organization’s sensitive information by offering scalable solutions. One of our most valued services is that of a vCISO (Virtual Chief Information Security) — a cost-effective solution for SMBs.
Frequently Asked Questions
What is outsourcing cybersecurity?
Outsourcing cybersecurity involves hiring third-party providers for cyber solutions and to secure data from cyber threats.
What is the best compliance for cyber security?
There are several compliance laws in place to protect the confidentiality of information. This includes the General Data Protection Regulation (GDPR) and the Health Insurance Portability and Accountability Act (HIPAA).
What are the three pillars of information security?
Confidentiality, Integrity, and Availability are the 3 pillars of information security.
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