Cybersecurity Outsourcing: Things to Know Before You Start
Where are we now? A digital world in which human life and business are somehow increasingly intertwined with information technology. It is undoubtedly beneficial on different fronts; however, it is also evidently implicit in a variety of risks and threats, such as data breaches, phishing, malware, DDoS, etc. You would be surprised to know there is one cyberattack every 39 seconds passing by, and cybercrime victims lost $1.86 billion collectively in 2021. Even the Covid-19 pandemic could not stop cyber-criminals. According to the State of Cybersecurity Report 2021, there were approximately 270 cyber attacks per company recorded over the year, which is an increase of 30% in comparison with 2020.
Or you would not because it is way too obvious as an inevitable part of digital and technological advancement. As Cybersecurity Ventures predicted, the annual damage caused by cybercrime will cost the world $10.5 trillion by 2025. So, face it instead of avoiding it. Bad news! Although businesses are aware of cyber security issues and their chain of consequences, not all are mindful enough for precautions or solutions, or even worse, not every organization has what it takes to tackle cyber threats alone. As cybercrimes have become more sophisticated over time and technology advances, companies with thin cyber protection walls against threat actors stand at the edge of the cliff.
But the good news is that cybersecurity endeavor is not necessarily performed “indoors.” If your company is short on cyber security resources, then why do you risk for nothing trying to settle things down in-house when you can outsource cyber security operations to third-party vendors?
What Is Cybersecurity Outsourcing?
Over the years, outsourcing software development and IT services have been preferred among businesses of all sizes and shapes, and outsourcing cybersecurity is not an exception.
This refers to the business strategy in which a company entrusts one core function or all processes of cybersecurity operations to a managed service provider (MSP). Through a partnership with a reliable cybersecurity partner, even a small company or a large corporation can tap into sufficient resources and a pool of security professionals that is not otherwise available within the in-house team.
Cybersecurity firms are flexible in outsourcing models, so clients have the right to decide what level of support they want from managed security services, whether it is a one-time service or a long-term partnership. Organizations can choose to fully outsource a cybersecurity team. The dedicated team will handle cybersecurity management from A to Z for them. Or, they can hire outsourced professionals to work onsite with their in-house security team, which is also known as the staff augmentation model. Or co-management, in which the clients and the outsourcing companies share the responsibility for specific tasks, processes, or technologies to achieve the common goals of data security. It depends on each business’s cybersecurity needs and goals to determine which model is the best fit.
Types of Outsourcing Cyber Security Services
As mentioned, when outsourcing cyber security, you will have a team of experts that are solely responsible for protecting your systems and data from malicious actors. The scope of cybersecurity services can be customized to meet your specific needs and budget, but in general, an MSP will provide the following services:
- Threat Detection: Cyber security service providers constantly monitor your systems for any signs of intrusion, malicious, or suspicious activity. They use a combination of automated tools and human security analysts to identify potential threats and quickly respond to them before they have any chance to cause any damage.
- Vulnerability Management: In this service, vulnerability assessment or penetration testing will be conducted to proactively scan your systems for vulnerabilities and patch them before attackers can exploit them. They also help you keep your software and systems up to date to prevent known vulnerabilities.
- Security Incident Response: In the event of a security incident, MSPs will work with you to contain the damage and prevent it from occurring again in the future. This may involve identifying the root cause of the attack, restoring lost data, and implementing new security measures to prevent future attacks so that you are prepared for anything.
- Security Awareness Training: Based on the outsourcing model, the cyber security service provider will train its experts or your internal employees on identifying and avoiding potential cyber threats, such as phishing attacks, social engineering attacks, and other types of cybercrime.
- Regulatory Compliance: Depending on your industry, you may be required to comply with certain regulations. Cybersecurity outsourcing services can help you meet these compliance requirements and avoid any penalties for non-compliance.
What Business Benefits Derived from Outsourcing to Managed Security Service Provider
In such a cyber threat landscape, outsourcing security operations is not more or less than a pragmatic solution. The reason why any business should invest in an outsourced cybersecurity team is the benefits this approach brings to your table. Here are some tangible ones:
No doubt about it. First and foremost, hiring outsourced professionals is much more cost-effective than carrying an in-house team on your own. Since you do not have to sink money and resources into an in-house security team of full positions and then train them to properly serve your security strategy, you can save a fortune while still having a full-fledged group of security professionals working on most of the cyber security aspects. Secondly, companies have more advantages in battling increasingly sophisticated security breaches and attacks and settling them before they can wreak havoc on your systems and prevent them from happening later on. Thanks to this, you can rest assured about your information security while saving overhead expenses from the consequences cyber-attacks bring.
Tap into Expertise & Cutting Edge Technologies
When outsourcing cyber security services, you have the opportunity to collaborate with top experts from different parts of the world, which is otherwise something beyond your reach. Moreover, a managed security service provider boasts all the essential skill sets, including security incident analysis, security architecture, and more, which are rare and expensive to find in a single individual. You get all of them at a fraction of the price. One more significant advantage is that MSPs always have access to the latest and most effective technologies on the market, so you can have free hands to focus on your core business functions while knowing your project or system is in the right capable hands.
Solve the Problems Related to the Shortage of Security Professionals
Currently, many organizations are experiencing a staffing shortage which poses a lot of challenges; some of them result in data breaches and other cybersecurity issues. This is when outsourcing cybersecurity needs becomes the best way out. When contracting with an MSP, you no longer have to worry about finding personnel on short notice or managing in-house staff. All the responsibility is now borned by the service provider, of course, under your supervision. The MSPs will allocate employees, infrastructure, and resources to your project as soon as you require them – quickly and efficiently. In addition, the MSPs deliver solutions for multiple clients, so they already have a comprehensive set of best practices, tools, and processes in place that have been experimented with and perfected over time. And when organizations outsource to an MSP, they can simply tap into it without any resistance.
24/7/365 Prepared for Action
In fact, it takes only some seconds to deploy ransomware, a DDoS attack, or any other type of cyber threat, but it costs a lot to fix and recover from the damages. That’s why business owners truly have a nerve-wracking to be 24/7/365 prepared to respond to those cyber-attacks and cope with the threat actors. At this point, outsourcing cyber security comes in handy as a savior. You will have a highly-trained and well-equipped team work round the clock to immediately detect suspicious activity, provide early warnings, resolve security issues, and suggest precautions. It implies that you are always protected from cyber threats, even during or after business hours.
Who Should Outsource Cybersecurity Services?
According to a 2019 survey by Deloitte, 99% of organizations have outsourced some parts or the entire process of cybersecurity operations to third-party service providers. Organizations of any size and from any industry can use cybersecurity outsourcing solutions. It is up to the specific security objectives and goals of each to decide and cultivate the proper solution. Startups and SMBs are the most common clients reaching out to the MSPs for cyber security solutions, as information technology is not their top priority due to the shortage of funds, resources, or competencies. In this case, these humble-sized companies tend to outsource the entire security operation or some specific security functions to lift the burden off the in-house team’s shoulders without breaking the bank. On the other hand, large enterprises have a completely different goal – to resolve cybersecurity issues more efficiently. Usually, they outsource partial security solutions and retain some key departments, such as the security incident response team (SIRT), in-house. The main reason is that these big companies have more expertise and resources to invest in building an internal cybersecurity operation. Therefore, they only outsource the complex issues that must require external help from experts.
Now that you know the necessary basic things about cybersecurity outsourcing, it is your turn to pick and choose the right partner to take care of your needs. Why look any further while you got us? Orient Software is a well-versed service provider in the IT outsourcing sector, and we have been empowering innumerable worldwide clients with our utmost quality and tailor-made solutions. In terms of cybersecurity, we provide you with specialized security software development services to help strengthen your business’s shield against cyber threats and attacks, ranging from threat modeling, penetration testing, and architecture reviews to secure development. Feel free to contact us now for further information.
Topics: Software Development Outsourcing