Focusing more on cybersecurity has become necessary with the proliferation of cyber attacks on businesses of all sizes and their third-party suppliers. At the same time, organizations struggle to fill their security gaps and reduce cyber risk due to an ongoing skilled cybersecurity workforce shortage. Whether to take cybersecurity solutions in-house or to contract it is a strategic decision that depends on your organization’s specific needs, priorities, and resources. Let’s explore some circumstances in which it may make sense to partner your organization with a managed security services provider (MSSP) or cybersecurity firm.
When to Consider Outsourcing a Cybersecurity Solutions Provider
Your Team is Small
From growing start-ups to established small and mid-size businesses (SMBs), owners and executives must be experts in their specific fields. They already wear many hats and juggle wide-ranging responsibilities, leaving little time or energy to commit to creating a strong cybersecurity posture. Most small teams don’t have the budget or resources to hire full-time cybersecurity professionals, but outsourcing offers an affordable way to access essential services.
Your In-House Resources are Strained or Scarce
More than 70% of organizations say they feel the effects of the skills shortage, with 27% citing significant impacts, according to the latest “The Life and Times of Cybersecurity Professionals” report by Enterprise Strategy Group. The cybersecurity workforce gap in 2021 was estimated to be 2.72 million, as reported by (ISC)². This shortage means that many organizations can’t find the in-house talent necessary to manage their cybersecurity effectively, making outsourcing a more viable option.
You are Not Equipped to Address Active or Looming Threats
Cybersecurity incidents and data breaches require a swift and effective response. Outsourcing with an established MSSP can ensure a smoother, quicker, and more effective recovery if and when a significant cyber threat strikes.
With larger data sets, better threat intelligence, and a wealth of insightful knowledge and experience, outsourced cybersecurity providers can provide a better and more robust response to cyber threats than in-house teams typically manage. Using advanced tools and technologies to detect potential threats empowers providers to quickly respond to malicious cyber threats before they cause significant harm. An MSSP’s speedy, effective response can help spare organizations time, money, and reputational damage following a cyberattack.
You’re Overhauling and Updating Outdated Systems
If upgrading existing security solutions hasn’t been a priority, or personnel turnover and other variables have let system maintenance and management lapse, resuming your cybersecurity journey can be challenging. If outdated processes and services are leaving an organization vulnerable, outsourcing to a cybersecurity provider can offer access to cutting-edge tools and technologies.
You Need the Flexibility to Scale and Specialized Expertise
Outsourcing provides flexibility to scale up or down as required without hiring or laying off staff. Managed cybersecurity services, sometimes called “cybersecurity-as-a-service,” take on overhead, infrastructure, personnel, and other related expenses to provide valuable capabilities at lower prices than an in-house team would cost. Cybersecurity providers specialize in their services and, from working with diverse clientele, have broad experience handling many types of breaches, attacks, and cyber threats. Tapping into an MSSP’s vast pool of knowledge and years of experience can help improve your organization’s cybersecurity posture while reducing or eliminating the high labor costs of recruitment, onboarding, training, and ongoing management.
You Need 24/7 Dedicated Protection
Cyber threats don’t take time off. Just a moment of unmonitored systems can leave sensitive data or networks vulnerable to a debilitating attack. In-house personnel often manage many other responsibilities, and SMBs, in particular, don’t have the resources to build out around-the-clock security operations. Specialized firms invest in cutting-edge security technologies and tools. Sophisticated intrusion detection systems, advanced firewalls, and AI-driven threat detection systems might be cost-prohibitive for individual companies to purchase and maintain. Large-scale MSSPs, meanwhile, can afford to offer 24/7 protection against suspicious activity and security incidents
You Require Outside Expertise for Regulatory Compliance
In industries facing strict regulatory requirements, organizations must take appropriate measures to remain compliant. Even the most minor or seemingly insignificant compliance infractions can lead to hefty fines, downtime, or other penalties. With broad and specialized experience, outsourced cybersecurity solutions providers possess in-depth knowledge of navigating varying local, state, federal, or industry-imposed regulations. Cybersecurity outsourcing can free your in-house team of excessive paperwork and documentation required to uphold your organization’s compliance standards.
Find Your Cybersecurity Solutions Partner in RAMPxchange
If outsourcing for cybersecurity solutions at any scale sounds like a good idea for your organization, connecting with capable potential partners should be the first step in your journey. But where do you begin, and where do you look? The RAMPxchange marketplace provides a platform to connect with providers and find the right cybersecurity services and solutions perfect for your organization. Talk to a RAMPxchange representative to learn more and join today