Let's face it; no company, large or small, is immune to cyber threats. With the global annual cost of cybercrime predicted to top $8 trillion in 2023, it's easy to see why every company that relies on digital frameworks to anchor data and systems should take cybersecurity seriously.
Unfortunately, many companies don't have the resources or expertise to properly manage their cybersecurity operations in-house. Even worse, some think that they're too small to be a target for cyber-attacks. But nothing could be further from the truth, especially considering that 60% of small businesses that suffer significant data loss are forced to close shop within six months of the incident.
But you don't have to be part of this stat! Even if you lack the resources and expertise (talent gap) to handle your cybersecurity operations internally, you can still protect your business by outsourcing it. But what does outsourcing cybersecurity operations mean, and how can your business benefit from the arrangement?
This comprehensive article delves into cybersecurity outsourcing and the top 15 reasons your company should consider it. We'll also discuss the best practices for outsourcing your cybersecurity operations.
What Is Cybersecurity Outsourcing?
Cybersecurity outsourcing is the process of hiring a managed security services provider, MSSP, to manage one core function or all of your company's cybersecurity operations. These MSPs often have flexible outsourcing models, giving clients the liberty to decide the level of support they desire - be it one-time support or long-term engagement.
Some of the cybersecurity operations that the MSSP usually handles may include vulnerability assessments, security monitoring, incident response, awareness training, and compliance management. But you should also note that these outsourced cybersecurity services are usually customizable to meet your business-specific needs.
15 Benefits of Outsourcing Your Cybersecurity Operations
If you still doubt whether outsourcing your cybersecurity operations is the right move for your business, here are 15 foolproof benefits that will convince you:
1. Cost Savings
The true cost of having an in-house IT department is exorbitant. Aside from the cost of labor, you'll also incur expenses like downtime, service outage, training, and other hidden costs. But outsourcing your cybersecurity operations saves you money in the long run. You don't have to invest in expensive tools and technologies, as MSSPs already have them in place. You don't have to hire additional staff or pay for their training and certification. All this helps you save money while ensuring that your business is always secure.
2. Access to Expertise
When you outsource your cybersecurity operations, you get access to a team of experts with years of experience in the field. They understand the latest threats and know how to protect your business. Plus, they have the necessary tools and technologies to detect and respond to any security incidents. These include, but are not limited to, advanced threat protection (ATP), endpoint detection and response (EDR), cybersecurity simulation, and more.
3. 24/7/365 Protection
Cyber threat actors work around the clock to sniff out vulnerabilities in your systems. That's why you can't afford to leave your systems unmonitored even for one second. A reliable MSSP, you get 24/7 year-round protection from these potential threats. We monitor your network and infrastructure for suspicious activities and respond quickly to security incidents.
4. Improved Compliance
If you're like most law-abiding businesses, you want to avoid brushing shoulders with regulatory agencies like HIPAA, PCI DSS, CMMC, and NIST. Breaching even the most 'insignificant' compliance requirement can lead to hefty fines and penalties. But with an MSSP, you can rest assured that all your security processes comply with the latest regulations. Seasoned security service providers have the necessary expertise and experience to ensure that your business is always compliant.
5. Automated Security Processes
Outsourcing your cybersecurity operations allows you to automate many of your security processes. These include patch management, vulnerability scanning, log monitoring, and more. Automation helps you save time and resources while ensuring that your systems are always secure.
6. Increased Visibility
MSSPs provide you with detailed reports and insights into your security posture. This helps you identify potential threats before they become a problem, allowing you to take proactive measures to protect your business. These reports also help you understand how well your security processes are working and where there is room for improvement.
7. Quicker Threat Detection and Response
MSSPs use advanced technologies and tools to detect potential threats in your systems. We can quickly identify any malicious activities and respond to them before they cause any damage. This helps you save time, money, and resources while ensuring that your business is always secure.
8. Reduced Risk of Data Breaches
Data breaches are one of the most common cybersecurity threats businesses face today. According to Statista, about 15 million data records were exposed worldwide through data breaches in the third quarter of 2022 alone. And as we have already discovered, more than half of small businesses are likely to seize operations six months following a data breach. So it helps to partner with a reliable MSSP that provides 24/7/365 protection and leverages the latest tools and technology to reduce the risk of data breaches and protect your business from potential threats.
9. Improved Security Posture
When you outsource your cybersecurity operations, you get access to a team of experts who can help you improve your security posture. We can help you identify any weak spots in your systems and recommend the necessary measures to strengthen them. This helps ensure that your business is always secure and compliant with the latest regulations.
10. Earlier Implementation of Emerging Technologies
One of the secrets to staying on top of the game is to be the first to implement emerging technologies ahead of the competition. But this can be challenging if you don't have the right resources and expertise. Thankfully, outsourced providers are always on the lookout for disruptive technologies to help their clients stay ahead of the curve. Plus, they already have the resources and know-how to harness these technologies as they emerge and put them to use.
11. Greater Flexibility
When your cybersecurity operations are solely managed in-house, you have limited flexibility to adapt to changing business needs and market conditions. But when you outsource your functions, you can scale up or down depending on your requirements. For instance, you can add more resources or services as your business grows or reduce them if you need to cut costs without incurring additional expenses.
12. Peace of Mind
When you outsource your cybersecurity operations, you can rest easy knowing your business is always secure. The best-outsourced partners provide 24/7/365 monitoring and protection to ensure that potential threats are quickly identified and addressed before they cause any damage. So say bye to the stress and paranoia of constantly worrying about your business's security when you outsource to a specialized agency.
13. Security Training and Continuous Support to In-House Staff
Outsourced providers can also provide your in-house staff with the necessary training and support to ensure they are always updated with the latest security protocols. For instance, if there's an update in a regulatory compliance requirement or a new threat rampaging the internet, your outsourced provider can quickly provide the necessary training and support to ensure that your in-house staff is well-equipped to handle any potential risks.
14. Brand Growth
Besides offering exceptional services and products, your brand recognition and growth also depend on how secure your customers' data is with you. Nobody wants to associate with or invest in a business that can't guarantee the safety of their data. So when you outsource your cybersecurity operations, you can rest assured that your customer's data is always secure, boosting your brand's reputation and growth.
15. Perfect Solution for Niche Businesses
If you're a niche business, you understand how challenging and frustrating it can be to find the right resources and expertise to manage your cybersecurity operations. But when you outsource, you can easily access a team of experts who specialize in your industry and have the necessary experience to help you stay secure and compliant.
Best Practices for Outsourcing your CyberSecurity
Remember, not all managed security service providers are a good fit for your business. So before outsourcing IT or cybersecurity operations, it's vital to do your due diligence and ensure that the provider you choose is a good fit for your business. Here are some of the best practices to help guide your decision:
- Do thorough research on the provider's background and experience in the industry.
- Ensure they have a proven track record of success with other clients.
- Ask for references and read reviews to get an idea of their customer service.
- Make sure they have the necessary certifications and qualifications.
- Ensure that they have a comprehensive security strategy in place.
- Check if they offer 24/7/365 monitoring and support.
- Ensure they have the necessary resources and expertise to handle potential threats.
- Ask about their incident response plan and how quickly they can respond to security incidents.
- Ensure that they offer regular security audits and assessments.
- Check if they offer comprehensive reporting on the status of your cybersecurity operations.
- Make sure that their pricing is competitive and within your budget.
Systems X Provides Complete Cybersecurity Outsourcing Solutions!
At Systems X, we understand the importance of cybersecurity and the need for businesses to stay secure and compliant. That's why we offer comprehensive cybersecurity solutions tailored to meet your specific needs. Our team of highly qualified cybersecurity and IT professionals are well-versed in the latest security protocols and can provide you with the necessary training and support to ensure that your business is always secure.
Contact us today to learn more about our comprehensive cybersecurity solutions!