The growing sophistication and determination of hackers, combined with a lack of in-house cyber security expertise, is driving many businesses to outsource their security needs to a third party.
Organizations of every size and type are struggling to detect and prevent cyber-attacks. Even the larger businesses with dedicated IT teams are having trouble keeping up with managing all the changes.
A recent Juniper Research study estimates that cyber crime will cost businesses $2.1 TRILLION globally by 2019, increasing by almost 4 times the cost of breaches in 2015.
The cost of a a single attack to an average business has been pegged at about $300.00 per employee (Ponemon Institute) - and yet - only 1/3 of organizations believe they have adequate resources to manage security effectively.
Proper security is like keeping a car running - you need a program and a good mechanic in order to perform the routine maintenance that will prevent serious breakdowns!
In some cases, businesses lack the manpower to cover even basic security tasks, which is pretty scary in today's environment of constant cyber threats.
The Right IT Security Expertise is in Short Supply
Conversely, in some companies the basics are being covered but they lack the expertise in certain areas of cyber security that are crucial for the organization.
The impact of failing to implement a compliance program or treating it like a point-in-time task can be significant, and not in a good way. In comparison to those fines, the cost of regular maintenance is trivial.
Multiple Options for Outsourcing IT Security
Third-party providers, such as IT security consultants, MSPs and MSSPs, all offer different options for outsourced or managed security services. The type of provider you choose depends on the services that your business requires.
This could range from full outsourcing of your entire security program, to individual or groups of services such as:
- Proactive data security (anti-virus, anti-spam, patch management)
- Web content filtering
- Remote access (e.g. VPNs)
- Mobile security (e.g. MDM)
- Identity Access Management (IAM)
- Data Loss Prevention (DLP)
- Email encryption and archiving
- Policy development and risk management
- Training and Education
- And more…
This list is daunting, which is why, according to EY’s latest Global Information Security Survey, almost half of U.S. businesses are enlisting outside IT consultants to help with security.
Given the amount of data breaches and heightened focus on managing risk, it’s not surprising that so many companies are outsourcing not only strategy, but day-to-day operations.
Top 3 Reasons to Use Managed Security Services
Here are 3 key questions to ask yourself when considering whether or not to outsource your IT security to an outside third party:
1) Speed to Value
Are you struggling to keep up with basic IT security, from either lack of time or talent? By outsourcing your security, you can have new capabilities up and running quickly. To build what you need in-house, not to mention maintaining it, would take significant time and investment.
2) Cyber Expertise
Do you have the level of expertise to keep up with constant cyber-threats? Cyber-attacks are evolving at an incredibly fast pace, from one new threat to another. Without the proper security tools and resources, keeping up with threats, addressing them as they arise and recovering from incidents not only needs substantial resources, but requires a level of expertise that must be constantly maintained.
3) Continuous Compliance
Are you concerned with regulatory compliance? There is a growing number of industry compliance standard and audits. Keeping up with them is arduous and time consuming, and often competes with other IT tasks that must get done. The right provider can offer continuous compliance monitoring services and keep up with industry regulators to offer best practice guidance and practical advice.
If you don’t have an IT staff in place, or your existing staff is overwhelmed just trying to support day-to-day requirements, you might want to start out with a security consultation to understand your risk level.
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