Should you outsource your company’s cybersecurity?

More than likely, yes. 

Before we get to the reasons why, let’s just review some recent data on cybersecurity attacks.  

According to SentinelOne, the leading software provider in threat detection, most small to medium sized businesses (SMB’s) are extremely vulnerable to impending cybersecurity attacks.   

  • 32% of SMBs have suffered a cybersecurity attack in the past 12 months 
  • 77% of decision makers are NOT confident that their company would be able to defend itself in the event of an attack 
  • $104,296 was the total average cost to clean up a cybersecurity attack in 2020 compared to $53,987 in 2019  

The Cisco Cybersecurity Report Series 2020 figure below shows the top business areas negatively impacted by a security breach.  

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The report also notes that smaller businesses tend to experience a proportionally larger impact than bigger businesses. 

Yes, cybersecurity is now, and will forever be, critical to your company’s well-being and success. 

Here are some reasons why you need to outsource to improve your cybersecurity posture:  

  • Hackers are continually improving their “craft.”   
  • It’s open season on ALL businesses now regardless of your size.   
  • It’s beyond expensive to hire an in-house cybersecurity expert. 

But not just any run-of-the-mill cybersecurity program will do. You need access to experts, proactive guidance, and the latest tools to keep your business safe and protected. There are many benefits to outsourcing your cybersecurity needs.  

Work with cybersecurity experts to strategize for your short- and long-term cybersecurity needs. 

It’s best to partner with seasoned experts who can proactively respond to the evolving threat landscape. Cybersecurity is a highly specialized field. Not all IT Services professionals are well versed in it. In addition, it’s extremely difficult for non-expert companies to recruit, maintain and provide ongoing cybersecurity development for an in-house IT person. 

Outsourced cybersecurity experts value and invest in continuing education. Because the threat landscape is constantly evolving, they need to keep their skills current and sharp to protect clients. They also have extensive on the job and in the field, experience creating security programs and educating clients on best practices.  

Also, cybersecurity experts are aware of what works and what doesn’t. This helps them steer you to the best spend of your cybersecurity dollars. Using your spend wisely will keep your company healthy and safe for years to come. 

Another benefit of outsourced experts is that they have more hands-on deck to assist with IT issues ensuring a quicker response time. This means no more waiting around until your one full time IT staff person gets to you. The key takeaway here is to work with cybersecurity experts rather than trying to create one yourself in-house.  

Implement cutting edge tools to protect yourself against new cyber threats.  

In addition to expert guidance and strategy, you’ll want the latest and greatest in cybersecurity tools and education. 

First of all, cybersecurity education is vital to your company’s health. Your staff is your first line of defense against cyber threats and so need the education to be able to identify and report them. Typical threats that target your team members include phishing emails, social engineering and insecure network connections that make their passwords vulnerable threat.  

Most of these issues can be addressed via security awareness efforts whereas the rest requires solid tools including 24/7 year-round coverage including threat detection and response, Multi-factor authentication, email encryption, network security and more.  

In the wake of breaches and ransomware attacks, many cybersecurity experts are building out more robust and enhanced cybersecurity offerings including Security Incident Event Management (SIEM), Security Operations Center (SOC), and Managed Endpoint. This is imperative to stay ahead of innovations in the hacker industry and to secure an increasingly remote workforce.  

Get better cybersecurity services and protection for the price. 

Outsourcing your cybersecurity could save you money. Sure, this seems like an oxymoron as business owners will typically be required to invest more in their cybersecurity program to stay safe.  

Though your cybersecurity spending may increase overall as cyber threats continue to evolve, keep in mind that it’s more affordable to outsource a specific service to an expert, especially a specialized service such as cybersecurity. In general, outsourcing professional services for cybersecurity services will save you 30-40% when compared to hiring a W-2, full time employee.   

According to SOCBOX, “The cost of outsourcing is typically determined by the number of computers and devices within an organization. For example, the outsourcing cost for an organization with a 250-user network might be an average of $75K annually. If you hired an internal team of 4-5 experts, along with the necessary tools to manage the same 250-user network, the annual cost would be well over $250K—that is, if the security experts can even be located.” 

Another way that outsourcing can save you money is by preventing security breaches, which depending on your industry, could lead to permanent reputation damage or expensive litigation. One thing that is for certain is that remediating breaches can be expensive. Remember that the total average cost of a cybersecurity attack in 2020 was $104,296. 

Ultimately, working with an outsourced cybersecurity partner from the beginning will save you hundreds of thousands of dollars in post-breach clean-up costs. The lesson here is pay less now or pay more later.  

Outsourcing your cybersecurity is the best way to get the affordable and innovative cybersecurity strategies and tools to protect your business, your employees, and your customers from a cyberattack.  

Please fill out the form below to talk with us more about your cybersecurity needs.