Should You Outsource Your Cybersecurity Needs To An MSSP?
That’s the million dollar question, isn’t it? Should you outsource your cybersecurity needs to an MSSP?
We’re often tempted to handle everything in-house. It’s understandable. Your business is your baby. Handing its security over to an MSSP can seem daunting. Unthinkable even. You fear that the moment you outsource, you’ll loose control. Or you firmly believe that no one else can do a better job at safeguarding it.
Of course, some things must be kept in the business. For instance, things such as sales and production due to a myriad of reasons including quality control and loyalty, but that doesn’t mean everything has to be done internally. When it comes to certain aspects of business, not outsourcing could prove detrimental. Cybersecurity is one such thing, and this article will showcase why you really should outsource your cybersecurity needs to an MSSP.
As an example, developing a full-serviced Security Response Center (SRC) and/or Security Operations Center (SOC) within your working team could spell trouble.
Here’s why.
In today’s wired ecosystem, collection and distribution of data is the new currency of business. Its growth being a key driver behind the explosion of IoT and other connected devices. Boosting the expansion of networks into the cloud. Increasing hyper-connectivity between networks, and accelerating the emergence of the new digital economy.
Most companies aren’t in business to operate and secure networks. I’m talking about those as highly distributed and dynamically changing as the ones being developed and deployed today. To survive and thrive, organizations must concentrate on their core competencies. Focus their resources, energies and overheads to producing products or solutions their clients want (and will pay good money for).
Every business owner now knows security must be a priority. With new breaches arising every minute of every day, data compliance and the protection of sensitive files is more complicated than ever. Yes, if hackers gain access to confidential information, it can undo a company altogether.
That’s why the majority of business owners today dedicate significant budgets to online protection, and yet, these same business owners often make the mistake of attempting everything on their own. They’ve convinced themselves that this is the most cost-effective and efficient option.
It’s not.
Let me explain.
Security is a business component which is exclusively better when outsourced. Mainly because business owners don’t realize the cost and effort that go into maintaining a data-compliant security team. Not to mention how easy it is to underestimate the amount of work and equipment needed to achieve a robust security posture.
It’s a proven fact that companies who rely solely on in-house security efforts often fall victim to the worst breaches. Even if they manage to protect data, they soon stumble upon issues that likely wouldn’t occur had they partnered with a credible MSSP.
Now, is the question, “Should you outsource your cybersecurity needs to an MSSP?” still on your mind?
Let’s take a moment to consider the issues with trying to do it all yourself.
#1 Costs
Expense is, by far, the main downside of in-house SOCs with the biggest cost being salaries of an experienced, certified cybersecurity team. Yet, it’s a team that doesn’t actively bring in any profit. Not to mention how costs of compliance training and keeping abreast of latest security-based technologies can add up. Very quickly.
Outsourcing (to an MSSP with a proven track record) typically means a set fee for 24/7/365 peace of mind. Now there’s a value that can’t ever be defined by numbers. From a dollar perspective, studies show outsourcing in this way can cut security costs by as much as an astounding 80% – which business in their right mind would ignore this figure??
#2 Reduced Response Times
Hackers never sleep.
And that’s the gospel truth.
Cybersecurity is an all day, every day, all year long endeavor. When your business is wired (as 99.9% of businesses are these days), your data is always at risk. Hackers often strike after hours because they know an in-house security team will clock out. Go home. Sleep. I mean, you can’t expect your in-house security team to work through the night, even if it’s for extra wages. By comparison, working with an MSSP ensures 24/7/365 support and, there it is again, peace of mind. Your network is guaranteed protection. And all within that one set fee. No overtime. No vacation. No sick days. No hidden costs.
#3 Limited Technology
It’s often necessary to buy technology to protect technology. Proper security requires detection tools to pinpoint weaknesses and identify breaches. Given how fast malware is developing and adjusting to technologies like these, keeping on top of things can quickly end up costing a lot. Since most companies can’t afford this, it often ends up being a choice between spending money you don’t have or not achieving the necessary levels of security you need. And this ultimately leading to incurring vast amounts of costs that could bring the entire company to its knees.
It might seem an exaggeration but many businesses have gone bankrupt due to a breach and/or hack.
MSSPs have a larger budget for new technologies and pass that onto their clients.
#4 Compliance Complications
Given how significant cybersecurity breaches have become, regulations across the world are getting more stringent every day. Therefore, any SOC efforts MUST adhere to these if they’re to avoid significant fines or even legal proceedings. Not to mention the reputational damage that could happen if a breach occurred through incorrect data protections. This could end a company overnight. In short, compliance could become a minefield when you’re trying to manage your own security. To stay current, your team would need to invest significant amounts of time and money in training, researching, equipment, and software. By comparison, MSSPs make compliance their business. With in-depth tools and regulatory knowledge, they ensure you play by the rules, no matter how fast those rules change.
Yet another compelling argument in favor of outsourcing your cybersecurity needs to MSSPs.
#5 Talent
One other pertinent consideration is that of qualified security personnel being in short supply.
Projections indicate that in the next 5 years, the industry will face an HR shortfall of 3.2M people. Over 3 million qualified cybersecurity professionals in immense demand. That’s competition to hire, inflated salaries, with only the most appealing positions getting filled (those held by MSSPs because that’s where the juice is). MSSPs offer more opportunities to learn, to be exposed to what’s really transpiring within cybersecurity, to always be abreast of the latest threats, technologies, and developments. In essence, to be at the epicenter of the conversation. Companies whose business isn’t cybersecurity will face challenges finding, and an even harder time retaining, qualified security personnel.
This was true 20 years ago.
It is all the more real today.
In conclusion
No one said that handing over those security reins would be easy.
However, as you can see from the points I’ve raised, it IS the right thing to do. The question really isn’t so much of, “Should you outsource your cybersecurity needs to an MSSP?” but more of, “Which MSSP should I partner with?“. Security simply isn’t something you can take risks with, and risks are exactly what you can expect to face if you keep all your efforts in-house.
As a result, organizations are increasingly outsourcing critical security services to Managed Security Service Providers (MSSPs) who possess the advanced security skills and technology needed to not only wage war against cyber threats but to win that war. And stay multiple steps ahead of the enemy.
Within this congested landscape of potential partners lies Network Box USA and the feather in our cap, our Security Response Center (SRC). While others call it SOC (Security Operations Center), we prefer SRC because this is where we create responses to the threats your environment faces every second of every single day.
It’s literally the heart and soul of what we do.
Threat intelligence and threat analysis is what this crown jewel is all about.
Our mission is to protect your network from the latest attacks, but with that being said, no man is an island. And that is certainly true in this complicated world that is today’s Internet. No one can do it alone. No, not even the largest companies, who have visibility of large percentages of the Internet. And that’s why we avail ourselves of over 120 partners in capturing information on the latest threats, and finding ways to stop them in their tracks.
Because the more we use, the more rapidly we can learn.
And by virtue of that knowledge, the more rapidly (and comprehensively) we can protect you.
Are you ready to take the next step?