Business & Investments

Many companies don’t have the time or know-how to handle cybersecurity operations. Even if they start building an in-house team, they might encounter numerous issues along the way. This is why managed SOC services are nowadays perceived as a great way to streamline your cybersecurity without the unnecessary headaches. 

The problem is that most managers are too focused on the traditional business tasks such as distribution, logistics, marketing, and sales. For them, cybersecurity is a necessary evil that won’t move the bottom line. However, as it turns out, this lack of focus often results in massive breaches costing companies millions of dollars.

In this article, we’ll explain the term cybersecurity outsourcing. After that, we’ll go through some of the potential benefits and drawbacks of using this approach. 

What Are the Advantages of Cybersecurity Outsourcing?

As with any other form of outsourcing, your satisfaction rate will be directly affected by the provider’s expertise. Some people report major issues after partnering with one of these companies, while others use the same cybersecurity agency for years. 

Regardless of the case-to-case experience, most cybersecurity providers offer the following benefits:

1. Access to Technology 

Most outsourcing companies work with dozens of clients. They often have to juggle between numerous programs as per clients’ requests. As such, they’re well acquainted with the latest software and hardware, and how to implement it for your particular use case.

In fact, when you partner up with a cybersecurity agency, they’ll likely have numerous programs in their toolkit as is. They give you a plug-and-play solution, as they already have their workflows, which can be implemented across different clients and industries.

Armed with extensive and diverse experience, these companies have better insights into various digital threats. They know how to spot them and introduce proactive security measures. A lot of these providers cooperate with major software vendors, which helps them stay updated about the latest techniques and hacks. 

1. Broader Expertize 

When a company assembles its in-house staff, it usually hires one or two veterans, while the rest of its team consists of inexperienced or recent college graduates. With this approach, a business can save money for the foreseeable future, while molding the employees according to their needs.

In comparison, outsourcing teams usually consist of several veterans, most of whom are long-term freelancers and entrepreneurs themselves. Given that they handle several accounts simultaneously, this also means they have experienced numerous breaches over their careers. They know how to tackle different situations, as they were never “anchored” to a single company.

It is also worth noting that managed providers have much better access to talent. As someone who is deeply entrenched in cybersecurity, they have connections with colleges and other companies, helping them poach the brightest minds. Due to the scope of their operations, MSPs usually hire numerous experts so they can cover the workload, giving them more flexibility in real-world situations.  

1. Understanding Current Legislation

Independent agencies must have extensive compliance knowledge to avoid getting their clients into trouble. This is especially true in the US, where each state has its own laws. If a client has international operations, the MSP must have knowledge of various legal frameworks, such as GDPR. 

Veteran providers go as far as to document security standards compliance for each client. As the cybersecurity laws become stricter, you must have a provider who will journal every step of your relationship. Adhering to these laws will help the client company avoid hefty fines and stay in good standing with its customers and stakeholders. 

1. Budgeting and Cost-Efficiency

Perhaps the best thing about hiring cybersecurity providers is that you’ll never have trouble with budgeting. After signing a contract, a client company has to pay a monthly retainer, making it easier to predict their expenses. This is especially important in this day and age, where businesses have to constantly update their software and procedures to adapt to developing threats. 

Furthermore, outsourcing your cybersecurity is often cheaper than forming an in-house team. When creating an internal department, you have massive overhead, especially during the first year or two. Although these expenses might balance themselves in time, you have to survive the initial period. 

1. Scaling and Stability

Businesses are always looking to hire cybersecurity staff permanently. However, given the high turnover in the industry, many companies will likely have to let go of their staffers as they search for better opportunities. On the other hand, MSPs often work with freelancers or turn their employees into partners. Better earning opportunities ensure stability in their teams and thus a better service quality.

You can also scale the operations any way you see fit. Despite the fact that most providers have fixed packages, they’re generally open to negotiation. As you transition from a small to medium, then large business, you’ll be able to upgrade your package without suffering interruption in cybersecurity operations. 

What Are the Disadvantages of Cybersecurity Outsourcing?

Although outsourcing gives you numerous benefits, there are still a few issues you must pay attention to: 

• Misalignment: Simply put, your provider might not have the same motivation as you. They might provide the bare minimum for the money they’ve given, or they might not understand your company’s needs and culture. 

• Lack of Customization: Some MSPs use the same framework for all their clients, which can affect your operations. 
• Inherent Bias: Given the lack of business understanding, a provider’s AI tools might take a too permissive or restrictive stance. Although this can be solved over time with the accumulation of data, it poses a major risk during the early days of the relationship. 
• Lack of Control: As with any other vendor, you’ll give data access to a third-party provider. There’s always a risk they might misuse the data for their own gain.

Conclusion 

Despite several issues, managed services are perfect for streamlining your cybersecurity needs. With the right provider, you can make sure your networks and systems are taken care of, and that no one will jeopardize your data. 

• Tags
• #Business
• #Magazine
• #Lifestyle