3 Advantages of Outsourcing Your Cyber Security to an MSSP
Jul Tue, 2018
The Rise of Cyber Attacks & Security
The cyber security landscape is evolving at a faster pace than organizations are prepared for. Hackers continue to create smarter ways to infiltrate a company’s network security and steal protected information such as client data, financial information, intellectual property, and employee records. According to Ponemon Institute’s 2017 State of Cybersecurity in Small & Medium-Sized Businesses Report (SMB), cyber-attacks have increased from 55 percent to 61 percent in the past 12 months, affecting more SMBs through these types of attacks shown below:
As soon as organizations identify or detect a vulnerability in their system for a potential security incident, another one pops up leaving the company vulnerable for a cyber-attack. Identifying and detecting vulnerabilities and security incidents throughout your entire organization can mean a lot of time and money spent on employing tactics and hiring security personnel to protect your assets. Sure, this option might work well for larger organizations, but does this make sense for SMBs with a tight budget? Here are three advantages of outsourcing your cyber security to a managed security services provider (MSSP) like Secuvant.
1. Cost & Time Savings
The cost of hiring seasoned professionals to tackle the complexity of the threat landscape has become expensive, and most SMBs lack the time and capability for training. Outsourcing your cyber security is a cost-effective solution to managing the cyber risk in your organization. MSSPs offer state-of-the-art technologies, experienced security professionals, and strategic consulting that thoroughly assesses your company’s current situation and manages your security needs, from spam filtering in email to 24/7 monitoring and threat protection.
2. Specialized Security Expertise
MSSP’s have security experts that are trained in the cyber risks that an organization has, and they are familiar with the cyber security landscape, knowing the latest trends in hacking and emerging threats. MSSP professionals have in-depth expertise and experience in securing organizations through tailored solutions and program recommendations. For example, Secuvant understands the operational and compliance requirements of organizational infrastructures in a variety of industries and can conduct vulnerability and gap risk assessments to identify the areas of risk that align with compliance standards such as NIST Cybersecurity Framework, HIPAA, PCI DSS, ISO 27001, and FFIEC.
3. Managed Cyber Risk
At Secuvant, we are known for our saying that Cyber Risk is Business Risk™ and cyber security should be managed as a business problem. Outsourcing your cyber security to an MSSP allows for a complete view of all the areas that are a potential risk for a cyber-attack. Areas of your business most likely to be affected mirror what are usually referred to as soft assets, brand equity, and competitive advantages. If those disappear, revenue streams, confidential customer data, legal liabilities, and operational ability can all be compromised at the hands of a data breach. Outsourcing to an MSSP can offer benefits such as qualitative and quantitative scanning of vulnerabilities, end-point threats, and configurations in an organization’s systems, networks, and apps to assess and manage the cyber risk at your organization.
Learn more: The Secuvant-7®: Business Enabled Assessment
Co-sourcing Cyber Security
As with all the advantages of pursuing something, it comes with disadvantages. The main disadvantages of outsourcing your MSSP would be the increased risk in losing control of your cyber security operations, or not meeting all your needs in a one-size-fits-all solution. Luckily, the option of co-sourcing has gained popularity allowing the MSSP to collaborate with an organization’s IT team to manage systems, data, and networks reducing the risks and increasing the advantages involved in working with an MSSP. Whichever route you decide to take, it’s important to continue on the path of securing your organization and analyzing the cyber risk involved in running your business, to protect your assets and your client’s information.