According to a report by Cybersecurity Solutions USA, more than a million new malware threats are created each day. They target businesses and individuals on every industry and economic activity. That figure is increasing, as revealed by the German Independent IT-Security Institute AV-TEST.
Cybersecurity should be an important concern for business owners, big and small.
But for Midsize companies, it’s crucial to take proactive actions for protecting their assets. They need to adapt their IT infrastructure and educate their staff on Cybersecurity. Some of the threats out there are APT’s, Phishing, DDoS, Malware, Ransomware and others that will appear in the future.
A Real Existential Threat to Midsize Companies
Cybersecurity Breaches have had devastating consequences for many small and medium-sized companies. According to the National Cybersecurity Institute, Fifty percent of SMB’s had suffered Cyber-attacks by 2015. Over 60 percent of those attacked went out of business in less than 6 months later. Loss of revenue, high remediation costs and loss of customer base were common causes of bankruptcy for those companies. Neglecting cybersecurity protection was the root cause of their problems.
The Problem with In-House Cybersecurity Teams
SMB’s may not be able to properly maintain dedicated in-house cybersecurity departments. Unless you’re running a cybersecurity consulting firm, having a subject matter expert working for you will be very difficult. And even if you have one, it will be hard to keep him on board for long, as the competition for talent in the cybersecurity industry is ferocious. That means you will invest a lot of time hiring, onboarding, and training personnel for your IT department… Time and money lost with each new recruit!
Focus on what you do best…
When managing a midsize company, your focus should be on getting as much profit as possible while expanding your business. Keeping your customer base 100% satisfied is also a crucial aim to strive for. But do not forget the need of protecting your company from external hackers and other Cyber-threats. That is a very important priority, as neglecting cybersecurity has proven to be very costly in the past.
In any case, the winning strategy is to always focus on those profit-generating activities you know best. Plan in advance to gain the know-how you need. Build the infrastructure needed to pursue your goals. That’s a way to produce the best possible financial returns to the investors. Your effort should always be channeled into reaching those business goals. No distractions should be in the way to getting the kind of results you deserve.
With that in mind, there’s a tough decision every midsize IT department will sooner or later need to take:
What’s the best strategy for us to tackle cybersecurity?
Should we go for in-house, dedicated personnel or should we outsource?
… And trust in the people who know what needs to be done
When you feel sick, you go to the doctor. You don’t hire that doctor for a long-term working relationship with your company and give him an office to track your activities in a daily basis. You go to his office and request his specialized service to check what’s wrong with you and tell you how to fix it. You pay attention to what he recommends and proceed accordingly because he knows what he is doing. You are sure he has worked on cases like yours a hundred times before.
The same principle also applies to cybersecurity on your organization. There are specially trained professionals who are experts in facing cyber threats. They have not only solved the same issues for other companies, but who are willing to take a look at your processes and let you know what’s wrong. From them, you can get actionable solutions to your cybersecurity issues in real time. These experts can give you a hand and get your cybersecurity needs taken care of.
Where to find Cybersecurity experts?
Cybersecurity experts are highly specialized professionals, with a very specific skillset. Most of them choose to work with companies that give them a chance to constantly learn, stay relevant and develop their skills every day. They normally work on environments where they can face new cyber challenges as they appear. This kind of people is very difficult to find, as shown by ISACA’s Cybersecurity Skills Gap Report.
So, why not leveraging that experience when needed and focus on you core-business activities?
Managed Security Service Providers have the tools, skills, and manpower to be there for you 24/7.
There are many other perks of protecting your company by outsourcing cybersecurity:
- Lower the cost of the newest cybersecurity solutions. MSSPs will assume the cost of implementing top-notch solutions, so you’ll only pay a fraction of the cost.
- Forget about hiring and managing cybersecurity personnel. Your MSSPwill handle that for you, so no need to worry about finding and keeping IT workers.
- Get your IT department to focus on your business-related activities. Like your connectivity issues or the responsiveness of your website. Take the responsibility of cybersecurity out of their shoulders.
- Leverage knowledge about the security breaches of others. Cybersecurity experts are a community. They will know when a new kind of threat emerge and act to protect you before it hits you.
- Your business will be safe all the time. Hackers and Cyber criminals don’t sleep. By outsourcing the cybersecurity work to a MSSP, you’ll rest assured there will be a pair of eyes monitoring your safety 24/7.
- Keep your tools updated. Equifaxlearn about it the hard way. Having your systems up to date and validated by experts is time consuming. IT departments tend to have many things to work at the same time, so things go slowly sometimes. Give them a hand with people especially dedicated to monitor cybersecurity.
Cyber threats will always be amongst us. It is up to you to decide what to do for protecting your business from the hazards arising each day. You can do it by using In-house staff or by subcontracting experts in the area to help you. Outsourcing cybersecurity can let you focus on building a successful and thriving business. The answer to the question of in-house vs. outsources is a click or a phone call away.