9 Reasons Why You Should Outsource your Cybersecurity Operations
The global cybersecurity market is expected to grow at a compound annual rate (CAGR) of 10% from 2020 to 2027. This growth is a clear indication of increased spending on information security by businesses across all markets. At the same time, cybersecurity threats are also growing in complexity as criminals use advanced tools to exploit vulnerable networks.
Sure, having an in-house IT department can safeguard your business from cyber-threats. However, your team will be overwhelmed with managing your infrastructure’s functionality and maintaining its security which can be risky. For this reason, you should hire a dedicated team to handle all your cybersecurity operations.
Here are seven more benefits of outsourcing your cybersecurity operations:
For small and medium businesses (SMBs), training and maintaining an in-house security team is time-consuming and expensive. Moreover, recent research shows a cybersecurity skill shortage, meaning it’s quite expensive to hire a security professional on a payroll.
However, outsourcing your businesses cybersecurity operations allows you to access highly-skilled professionals without breaking the bank. As such, you won’t have to manage full-time staff nor pay huge monthly salaries. The best thing is that most cybersecurity consultants offer a bouquet of security services, ensuring you get the best value for your budget.
Specialized Security Expertise
Working with a managed security service provider (MSSP) allows you to leverage their vast experience and knowledge. They can identify almost every threat and potential loopholes in your existing systems and offer unique solutions to safeguard your business. Most importantly, they’re aware of the latest threats and tools used by criminals, and as such have devised advanced technologies to counter those threats.
Protecting your business from cyber threats can be time-consuming as it involves extensive research into unique solutions that fit your business niche. Even with an in-house IT department, you’ll probably spend lots of time training, and offering them the required tools and software they need. Consequently, you end up losing focus on your other core business operations.
However, working with an external cybersecurity provider frees up your time to focus on growing your business. You also enjoy peace of mind in knowing that your network’s security is in the hands of dedicated professionals.
Round the Clock Support
In cybersecurity, the longer a threat goes unnoticed, the more damage it causes. Unfortunately, cybercriminals don’t have definite working hours, meaning that they can attack your business at any time. They can be based anywhere in the world, and so operate in different time zones. For this reason, your systems need real-time security monitoring to detect and respond to threats swiftly. Your in-house security may not be in a position to respond fast, especially if the attack happens outside your business working hours. As a result, there will be an extended recovery time translating to huge losses due to slow response.
However, a good MSSP offers a 24/7 system monitoring and analysis, ensuring threats are detected from the onset and dealt with before they do any damage. Such quick response ensures your business doesn’t suffer from downtime, saving you from loss of revenue.
Highly regulated industries, such as finance and healthcare, must adhere to strict data protection policies. Even though your business is based outside these two industries, you’re still obligated to safeguarding your clients’ data. Nevertheless, maintaining compliance with data protection policies can be a slippery slope, given the evolving digital law landscape. Sometimes the extent of new regulations may be too complicated for an in-house IT department to understand and comply with, resulting in hefty fines.
Contracting a third-party to handle your IT security helps your business stay in compliance with the law, saving you from expensive penalties and class-action lawsuits. Moreover, they’ll alert you of any recent law changes, thus ensuring your business maintains compliance always.
Builds Your Brand
Besides product offering, your brand as a business is also determined by how well you protect your customers from data breaches. In the event of compromised data security, you’ll not only lose revenue but also have your reputation tainted. Consequently, clients will lose their trust in your business and may even file for a class action suit.
Outsourcing your cybersecurity to a third-party provider demonstrates your commitment to safeguarding your client’s data. Therefore, your brand image improves, which cements your professionalism in your industry. Your customers will also have more confidence in your services, knowing that their data is protected.
Provides Security Training to In-house Staff
Outsourcing your cybersecurity operations doesn’t mean that your in-house IT team will not be involved in protecting your systems. Far from it! A good third-party cybersecurity professional will work closely with your IT team to improve their skills in security operations. This way, your team can liaise with the third-party security provider in case of any threat. Even your non-IT staff will get comprehensive cybersecurity training to avoid employee negligence, which is the leading cause of data breaches.
One of the most significant advantages of outsourcing cybersecurity services is that you pay for it when needed. Suppose you’re working on a project but choose to pause for a few months or experience downtime for several weeks. If you have an in-house cybersecurity team, you’ll still be required to pay them even when you’re on break. But, working with an MSSP affords you the liberty to pay for their services only when you need them. In the same vein, an MSSP can grow with your business/project size and meets its fluctuating demands.
Access to Top-notch Talent
As mentioned earlier, there’s a small pool of cybersecurity experts. This means that only there’s stiff competition for security professionals, whereby organizations with deep pockets have the upper hand. However, the advent of MSSP companies opened an opportunity for SMBs to acquire top-notch security talent, which was left only for large organizations.
Partner with us today
Handling your cybersecurity in-house can be a costly mistake for your business. The high expertise and skills required to identify threats can extend far beyond the capabilities of your in-house team. At left tca SynerTech, we offer customized cybersecurity services for businesses in Michiana to help combat the rising cyber-threats cases. Don’t hesitate to contact us today to discuss the best solutions for your business.