Cyber attacks are constantly evolving in both: number and complexity. They’re also affecting an ever broader spectrum of companies – and even small and medium businesses need to be aware of the potential dangers.
Almost two-thirds of all companies worldwide have been attacked at least once. The top security breaches – ransomware attacks – have surged in the last few years. They grew by 150% in 2020 and have caused huge financial losses, sensitive information leaks and have compromised the digital security of millions of businesses. All of this increases the security needs of organizations of all industries.
These alarming trends have urged companies worldwide to take decisive steps to ensure cybersecurity protection. Many businesses are including the outsourcing of the network security in their budgets to address the imminent risks.
Yet keeping up with the constantly changing and increasingly more dangerous digital world can be quite challenging, especially for companies that don’t have an in-house information security team and independent assessment capabilities. It’s expensive and may distract the focus from the essential work.
Because of the complexities and costs of information security management, many choose to use outsourcing cybersecurity services with a proven track record in the field of cybersecurity – either as a fully, outsourced cybersecurity service provider or in a hybrid model.
Here are The Top Benefits of Cybersecurity Outsourcing:
1. Rich Expertise and Know-how
One of the biggest challenges of having an in-house team for information security management is the constant need for training and continuous learning. It takes time, effort, and financial resources to train people and keep their expertise up-to-date with the new technologies and the most recent security threats and solutions. They also need to have the right software tools, which entails choosing the most suitable one in an ocean of options.
Outsourced cybersecurity providers have a clear advantage in this respect. External security professionals have experience handling a wide variety of threats as they’ve been working for multiple clients in various industries over time. They need to have the necessary qualifications and certifications and to know network security solutions from the inside out. Working with dedicated specialists minimizes the risk of a cyber attack or a social engineering one.
2. Better Threat Prediction
Being experts in the field, cybersecurity companies invest in their teams’ ongoing education and professional development. Their job is to know about the most important cyber threats before anyone else. They have to be well-prepared to tackle the latest trends in cyber risks and to find the right technologies and methods to combat them.
That’s why outsourced cybersecurity specialists can better predict risks and help businesses prepare for facing them. They also have high-end software that backs their services in the most effective ways. Based on their experience, ever-growing expertise, and powerful cybersecurity tools alone, external experts can help you with a threat prediction system that makes your business bulletproof.
3. Timely and Flexible Support
It’s difficult and expensive to run an in-house cybersecurity team around the clock, especially for small businesses. Outsourced teams, on the other hand, pledge to be available 24/7 and year-round. Real-time support, paired with preventive security services, is an essential prerequisite for minimizing incident response times and ensuring you’re protected at all times.
In addition, external security experts have flexible solutions for handling cybersecurity attacks depending on the client’s needs. They can scale their services along with your growth. This means that you can increase the security staff as this becomes necessary – without having to hire and train new team members and integrate new processes.
4. Continuous Monitoring
Outsourced teams often utilize advanced technologies and methodologies for continuous security monitoring and swift threat detection on your employee devices. This proactive approach ensures that potential security threats are identified and neutralized before they can cause significant damage. Continuous monitoring also allows for real-time insights into the security threat landscape, enabling quicker responses and more effective threat management. By leveraging cutting-edge tools and a dedicated team, outsourcing cybersecurity services provides a robust defense mechanism that is always active, ensuring round-the-clock protection for your business.
5. Cost Efficiency
The hard truth is that it can be quite an expensive and complicated process to hire and maintain a top-notch cybersecurity department, as well as to ensure the necessary technology for their work. The trends in the field show that security costs will only be growing.
The outsourced cybersecurity service providers can ensure your business protection differently – balancing between efficiency and cost. It comes with fewer complications and less money spent.
6. Security Standards and Regulatory Compliance
A major issue that businesses may stumble upon is meeting all compliance requirements like security standards and official regulatory requirements. In-house teams may struggle to keep up if they don’t have enough resources and time because of other projects.
Solid outsourced security providers have proof of applying the best security standards out there. They can showcase the necessary certifications and know-how. Due to their extensive work in the field, they can also ensure easier compliance with national and international security regulations like GDPR and PCI DSS — which is critical for keeping business operations flowing without legal hurdles.
7. Cybersecurity ROI
Measuring cybersecurity results can be tough for businesses. Do you count the threats or the lack of such, or how they have been handled? And how do you go about treating security as a whole — as a technology problem or as a business one? All of this requires a complete framework, methodology and management approach which may be difficult to develop internally.
Quality outsourcing cybersecurity or information security service providers can offer a holistic and multi-layered approach to your cybersecurity which is integrated into your business strategy, rather than being a standalone tech issue. They can set clear and measurable targets in terms of protection and incident response times. Then it’s obvious where the accountability lies and what the goals are.
Drawbacks of Outsourcing Cybersecurity Services
While there are numerous benefits to outsourcing cybersecurity, it’s also important to consider potential drawbacks:
- Managing Control: Handing over cybersecurity management to an external service provider may require adjusting to a different level of direct oversight over specific security practices and decision-making processes.
- Data Access: External providers will have access to private information, so it’s important to establish strong data management practices to ensure application security and privacy.
- Effective Communication: Collaborating with an external team may require enhanced communication strategies to ensure clarity and quick response to security issues.
- Cost Management: While cybersecurity outsourcing can be cost-effective, it’s advisable to be aware of any additional costs associated with service expansions or emergency responses.
- Compliance and Legal Alignment: Ensuring that an external provider meets all necessary legal and compliance requirements is crucial.
- Standardized Solutions: External providers may offer standardized solutions that might not fully align with the unique needs of your business. It’s important to find the right security services provider that will tailor these solutions to fit the unique needs of your business.
While cybersecurity outsourced service providers offer numerous advantages, businesses should also be mindful of potential challenges. By carefully evaluating these considerations and selecting the right provider, companies can effectively balance control, cost, and customization. This leads to the next important question: Should you outsource cybersecurity to an external provider?
Should You Outsource Your Cybersecurity Management?
Deciding whether to outsource your cybersecurity management requires careful consideration. Here are some tips to help assess if it’s the right choice for the security needs of your organization:
Assessing Your Internal Team
Evaluate the capabilities, experience, and capacity of your current in-house cybersecurity team. Determine if they can handle the growing complexity and volume of cyber threats as well as human error. Ask yourself whether your in-house team has the necessary know-how in the latest cybersecurity technologies and threat landscapes. Assess their ability to stay current with ongoing education and certification requirements. Additionally, consider whether your team has the bandwidth to manage cybersecurity along with their other responsibilities, or if they are stretched thin.
Conducting a Thorough Cost-Benefit Analysis
Compare the costs of maintaining an in-house team with the expenses associated with outsourcing to cybersecurity professionals. Consider both direct and indirect costs. Outsourcing can sometimes offer more predictable costs and access to specialized expertise that might be cost-prohibitive to develop in-house.
Risk Assessment
Analyze the specific potential risks your business faces and how well-equipped your current team is to manage them. Identify potential vulnerabilities within your existing infrastructure and assess how effectively your team can address these threats. Consider the industry-specific risks you face and whether your team has the specialized knowledge to mitigate these threats. By understanding your cyber risk profile, you can better determine if an external provider, with their in-depth knowledge and tools, might be better positioned to protect your business from security threats.
Evaluation of External Providers
Research potential cybersecurity firms, their reputation, track record, and service offerings. Ensure they can meet your specific cybersecurity needs well. Look for providers with experience in your industry and those that offer a comprehensive suite of security services, including threat detection, vulnerability assessments, penetration testing, incident response, and compliance support services.
Flexibility and Scalability Needs
Consider how your cybersecurity needs might change as your business grows. Ensure the provider can scale their services accordingly. A good cybersecurity partner should be able to offer flexible solutions that can adapt to your evolving needs, whether that means scaling up during peak times or providing specialized services as new threats emerge. This scalability ensures that your security posture remains robust even as your business landscape changes.
Deciding to outsource your cybersecurity management involves a comprehensive evaluation of your current capabilities, costs, risks, and future needs. By thoroughly assessing these factors, you can determine whether outsourcing partner is the best strategy for your organization’s cybersecurity. If you decide to proceed with outsourcing, it’s crucial to follow best practices to ensure a successful partnership and optimal security outcomes.
Best Practices for Outsourcing Cybersecurity Management
Effective cybersecurity outsourcing requires careful planning and adherence to best practices to ensure that the desired benefits of outsourcing alone are achieved. Here are some best practices to consider:
Comprehensive Evaluation of Potential Cybersecurity Service Providers
Conduct thorough research and due diligence on potential security service providers to ensure they have the necessary know-how, certifications, and a solid track record.
Establish Detailed SLA (Service Level Agreement)
Clearly define the expectations, responsibilities, and performance metrics in SLAs to ensure accountability and transparency.
Regular Communication and Reporting
Maintain open lines of communication with the provider and establish regular reporting schedules to stay informed about security status and incidents.
Ensure Data Protection and Confidentiality
Implement strict data and sensitive information protection policies and ensure the provider adheres to them to safeguard your sensitive data and information.
Conduct Periodic Assessments and Audits
Performing regular vulnerability assessment services and audits by the provider will help you identify and address any potential vulnerabilities.
Ensure That Employees Are Trained on Cybersecurity Best Practices
Use proactive cybersecurity measures by providing ongoing training for your staff to ensure they understand and follow best practices for cybersecurity.
Develop Comprehensive Incident Response Plans
Work with the provider to create detailed incident response plans that outline the steps to take in the event of a security breach.
Conduct Regular Tabletop Exercises and Simulated Cyberattack Scenarios
Regularly test your incident response plans through tabletop exercises, penetration testing, vulnerability assessments, and simulated ransomware attacks to ensure preparedness.
Implementing these best practices can help you maximize the benefits of outsourcing your cybersecurity management. By carefully selecting a provider of MDR and penetration testing services and maintaining a proactive approach, you can enhance your organization’s security posture and ensure robust protection against cyber threats and data breaches.
How AMATAS Can Help with Your Cybersecurity Management
Figuring out the cybersecurity needs of your business can be a daunting task. AMATAS can be your trusted partner in the process of setting the framework and managing your optimal computer security practices.
With proven experience in cybersecurity, AMATAS has successfully safeguarded small businesses as well as large companies from industries such as healthcare, fintech, manufacturing, e-commerce, etc. Our team of industry experts is ready to assist you with software choice, devising a strategic approach, and hands-on approach to handling cyber threats. We’re equipped to help with regulations compliance, as well as to provide you with in-depth expertise and predictions.
Want to explore how you can outsource your cybersecurity management? Get in touch to learn what AMATAS can do for your business security and experience firsthand the peace of mind that comes with top-tier cybersecurity protection.
FAQs:
What is outsourcing in cybersecurity?
Outsourcing in cybersecurity involves hiring external specialists to manage an organization’s cybersecurity functions, including threat detection, incident response, and compliance. This allows businesses to leverage expert knowledge and advanced technologies without maintaining an in-house team.
How much does it cost to outsource cybersecurity?
The cost to outsource cybersecurity depends on factors like the complexity and scope of services required, the size of the business, and industry-specific needs. Costs can vary based on the level of protection, frequency of monitoring, and expertise of the service provider.
How many companies use outsourcing cybersecurity?
Approximately 62% of companies outsource their cybersecurity functions to external providers. This trend reflects the growing need for specialized expertise and the ability to manage increasing cyber threats effectively. Outsourcing helps businesses enhance their security posture while focusing on core operations.
