Data breaches are extremely common, but still shocking to consumers. In 2017, roughly 54% of companies experienced a successful cyber attack of some degree of severity (Source). Data breaches are not only becoming more frequent, but they are also becoming more expensive. In addition, the law is increasingly holding companies accountable for data security.
If you are in IT, you can easily list ways your company could improve your security and incident response policies. Cyber attack methods are evolving more quickly than antivirus, spam filters, and even firewall technology can keep up.
Using well-researched spear-phishing attacks, hackers have gained entry into the White House, RSA, and Oak Ridge National Laboratory, to name a few. And while these organizations had the resources in place to detect strange network activity, most small to midsize businesses lack the budget bandwidth to implement the tools, time, and training required.
Enter: the Cybersecurity Firm
More than 60% of companies are already outsourcing some aspect of their cybersecurity workload, according to a recent survey (Source). Commonly outsourced security functions include risk assessments and mitigation, network monitoring, access management, and employee training.
In the past, the term “outsourcing” often translated to replacing in-house IT professionals with an off-site team somewhere else. Today “outsourcing” translates to “partnering” in managed and co-managed cybersecurity solutions, which require specialized tools and skillsets.
IT professionals have long served as the front line for detection and defense for in-house fraud by employees, and have been installing and managing firewalls, anti-virus, anti-malware, spam filters, device wiping and more to combat external threats. The importance and complexity of this aspect of the IT professional’s job has grown exponentially in the recent past, as cyber threats of yesterday have increased from basic hacks to complex and destructive criminal activity.
In today’s world of organized cyber crime and spear-phishing, there are common road blocks when it comes to managing all IT security in-house. Adding more advanced cyber resources, tools, technology, and training to your existing security stack is not only costly, but it is time-consuming to learn, implement, and manage. We’ve whittled the many pro’s of using a cybersecurity company down to three core benefits so you can refine your vision for a more secure company and educate fellow stakeholders.
#1 Dedicated Team Without the Overhead
Don’t worry about training your IT staff, hiring specialists, or facing the growing talent shortage of cybersecurity professionals. When you outsource your security to a cyber expert, you get a dedicated team without the overhead expense.
When selecting a cybersecurity provider, prioritize companies whose only responsibilities are related to security and who have a solid client-facing presence, such as a vCIO (Virtual Chief Information Officer) or dedicated project manager. This allows your internal IT team to grow in expertise as they interface with trained cybersecurity professionals.
An often overlooked benefit of using a cybersecurity company is lowered stress levels. The threat of experiencing a public hack coupled with persistent and hard-to-deflect phishing attacks leads many CIOs and CISOs to experience persistent stress. For some, the stress even leads to frequent job changes and health issues. When IT executives have a dedicated team on their side, it can relieve them of some of the weight of championing security for your company.
#2 Robust 24×7 Solutions at Lower Costs
Don’t worry about setting up a Security Operations Center (SOC) and sourcing the best tools. In-house security is incredibly expensive and complicated, even for the large enterprise. A managed or co-managed partnership with an MSSP will provide you with real-time endpoint and network monitoring plus incident response. When handing off some or all of these services to an MSSP, you suddenly have an enterprise-class suite of solutions at your disposal.
#3 Expert Solution Selection and Implementation
Fret not about integrating your HIDS, NIDS, SIEM, log correlation, and MDR solutions! When you work with an MSSP, solutions are often all-in-one. While some do integrate a number of tools and vendor technologies, they are more likely to have worked out the bugs a long time ago and are ready to deploy their cohesive solution to your network. Implementation is also much faster than in-house roll-outs.
Finally, if a better solution comes along, it is easier for an MSSP to provide those upgrades vs. replacing the in-house solution you have integrated into your existing technology infrastructure.
I can tell you how to plumb an entire house, but I can’t tell you what you need to protect your customers’ data from cyber threats. For our business, I am the IT Department. I don’t have time to actively defend customer names, addresses and credit card numbers. We know that Corsica Technologies is protecting our customers’ data and keeping that information safe. That saves me a lot of time and gives me peace of mind. – Margot Shaffer, General Manager of Corley Plumbing, Air & Electric
How Would You Benefit from Partnering with a Cybersecurity Company?
Every company will benefit differently. The large enterprise may need a level of control and accountability that partnering with a cybersecurity company can’t quite fulfill. On the flip side, partnering with a cybersecurity company may provide a level of visibility into your network that large companies wish they had.
Partnership with an MSSP also offers a faster and more cost-effective way for you to meet your compliance requirements. It provides your internal team with opportunities for career advancement by interfacing with security experts. Most importantly, an MSSP partnership protects your business, your customers and their happiness.