Many organisations make the wise decision to hire a Managed Service Provider (MSP) that handles their cybersecurity. Although, there are still many small business owners who don’t understand that they must act on cybersecurity. This goes beyond installing an off-the-shelf anti-virus software and calling it a day.
As the cyberthreat landscape becomes more complex, most companies are finding it very challenging to keep track of new issues and protect their data. Moreover, hackers are growing more sophisticated when committing such crimes. The growth of the Internet of Things (IOT) also results in more businesses using smart devices connected through networks, which give hackers more potential entry points.
These security breaches result in significant damages to the company, ranging from data loss, server downtime and loss of clients due to bad publicity and reliability. SMEs are faced with three options for dealing with such security breaches. Firstly, they can attempt to manage cybersecurity internally, by hiring in-house security professionals, including a Chief Information Security Officer (CISO). Alternatively, they can use the services of a consultant that would recommend a combination of security solutions. These would then be installed and managed by internal staff. The third and most common option is to outsource all cybersecurity to a Managed Service Provider.
Benefits of outsourcing cybersecurity:
- Having a team of dedicated security professionals– these people are in high demand and without using the services of an MSP it may be impossible to hire them. The company would have constant access to security experts for immediate response. These experts are also always up-to-date on all the latest threats and security practises.
- Better threat detection and incident response time– the team of experts that monitor your system 24 hours a day are able to respond to threats in real time. A Managed Detection and Response platform (MDR) is often used, which gives fast insight for quick response.
- Advanced technology – new modes of cyber-attack require new defence tools. It takes time to train internal staff to install and use these tools efficiently. New software is also expensive to buy and maintain licensing and support.
- Threat intelligence – outsourced threat intelligence platforms provide a detailed analysis of the company’s intelligence profile. This delivers precise and actionable threat intelligence indicators. This platform also deals with threats before they become breaches. With companies having many sources of data, it is extremely difficult to develop and maintain such a system in-house.
- Independent validation of cybersecurity posture – outsourcing provides an independent analysis of the organisation’s vulnerabilities and weaknesses in systems and applications that internal IT staff may not have picked up. MSPs are specialised in, not only uncovering hidden risks, but also training internal staff to lower the risk of vulnerability to a cyber-attack.
When a company decides to outsource, it is vital to choose the right cybersecurity provider that has the means and expertise to meet all the requirements long term. Furthermore, advanced tools and expert security teams are needed for a comprehensive cybersecurity solution. Finally, the MSP chosen must be dynamic and constantly stay ahead of emerging cyber-criminal tactics.
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