Cyber threats and attacks are increasing not only in number, but in size and complexity. Businesses both big and small are affected and need to keep in mind the importance of maintaining the confidentiality, integrity, and availability of the information they possess while simultaneously keeping attackers at bay. Cybersecurity can be tricky, even for the seasoned Information Technology (IT) professional and relying solely on those versed in IT won’t solve underlying cybersecurity issues
Businesses need to look at additional options when shopping for outside vendors and include outsourced cybersecurity vendors in the discussion. This additional aspect of outsourced cybersecurity would add protection to the data and the network infrastructure of a business.
Cybersecurity-as-a-service is the solution and can save businesses time and money if utilized properly. This concept is an outsourced service provided by a third-party vendor which solely specializes in the monitoring, protection, and response of different types of vulnerabilities and attacks on the network or systems. Traditional IT services and vendors tend to focus on the management of user accounts, network infrastructure and hardware, service patches, and even end-user support in some cases. The main difference between cybersecurity and IT is the continuous protection of data and critical infrastructure. These items are absolutely vital to the long-term success and the growth of a business.
Outsourcing cybersecurity duties to a third-party provides many different benefits to the growth of a business. The following are 7 different examples as to why a dedicated outsourced cybersecurity vendor would be a wonderful option to consider.
1. Cost Savings and Opportunity Costs:
Cybersecurity professionals can be extremely expensive to hire. Small and medium sized businesses that are still trying to scale and grow may not be able to afford a team dedicated solely to cybersecurity duties. Since the cyber realm is ever-changing and new vulnerabilities and attack tactics are discovered each and every day, cybersecurity professionals are always training, learning, and will inevitably have blind spots overtime.
In addition, with any employees, there are risks of quick turnover and the money, training, and effort dedicated to the single member would be lost. These issues can be avoided with an outsourced cybersecurity third-party vendor. There would be an entire team of professionals that are dedicated to all things revolving around cybersecurity. Since oftentimes there are multiple businesses that the vendors are monitoring at any given point, they are able to look for trends across the board and know in real time if there is unusual activity and respond before it becomes an issue.
It would be beneficial to utilize the additional funds and time saved on hiring cybersecurity professionals and instead invest that into other aspects of the business in order to increase profit margins.
2. Cybersecurity Consulting:
Cybersecurity-as-a-service, specifically Managed Detection and Response (MDR) teams, allows for businesses to utilize the professionals as a consulting service as well. The initial set up and meeting between the outsourced cybersecurity vendor and business will be a time to communicate the current security posture and set up of the network, potential issues, and goals moving forward. The vendor can provide suggestions and create security policies to better equip the business with the tools they require to be successful and move forward feeling secure.
3. Around the Clock Service:
Outsourced cybersecurity vendors know how important confidentiality, integrity, and availability of data can be for businesses. With an outsourced vendor there is someone always available and monitoring event logs and security scans, ensuring peace of mind to the business owners and customers involved. If the cybersecurity professionals do end up catching someone in the act trying to penetrate the network, discovers a virus, or even something as simple as an inside employee logging in and downloading data at very odd hours of the evening, the professionals will immediately initiate the incident response action plan mitigating any damage and then proceed to restore all services as necessary.
The MDR teams minimize these types of cyber related stressful events and can ensure everything will be seamless while minimizing end-user interruptions on the network.
4. Transfer the Risk:
By definition, transferring risk involves passing the risk off to a willing third party. Outsourcing all cybersecurity needs transfers the risk to the hired vendor. The vendor accepts responsibility for the monitoring, detecting, and responding to any cyber incidents that occur while ensuring that backups and proper standards, such as NIST, ISO, SOX, HIPAA, are continuously being followed.
As profits for businesses increase, so can the personnel, technology, and overall business operations. With this comes additional needs to alter and potentially increase various outsourced cybersecurity services, backup storage, and policies. An outsourced vendor can easily incorporate any additional needs a business may require at minimal costs compared to what it would take to run it in-house.
The wonderful thing about outsourced cybersecurity teams is that they want the businesses to still be involved. There is flexibility in terms of how often updates or meetings can occur between the two groups. The goal is to see the business succeed and for everyone to understand the cybersecurity risks the business faces on a daily basis.
7. Cyber Attacks:
Within the United States alone, there happened to be a 50% increase between 2020 and 2021 in overall attacks that occurred per week on corporate networks according to Check Point Research. Majority of successful breaches of the network are due to human error or some type of social engineering attack. Ransomware just happens to be a popular attack being utilized as of recently. The cost of prevention measures is minimal compared to the financial damage ransomware attacks can cause.
In today’s society, data is considered to be extremely valuable and viewed as an asset in many cases. Protecting the business’s data should be at the forefront of all employees’ minds. Unfortunately, the network and system assets are only as strong as the weakest link and having an independent outsourced cybersecurity team constantly monitoring and validating all logged events helps provide business owners peace of mind knowing cybersecurity prevention methods are being followed.
Cybersecurity is a delicate topic and more advanced than most realize. It involves a team of individuals dedicated to the prevention, monitoring, protection, and response of valuable business information and assets. Retaining an outsourced cybersecurity company and leaving it up to the professionals can lift a great deal of stress off a business. It opens up and allows the company to focus on aspects that will grow the business while maintaining a level of awareness of their cybersecurity posture through a trusted third-party.
Overall, outsourcing cybersecurity management is a wonderful idea and can benefit any company!