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Introduction

According to recent statistics, the vast majority of companies outsource cybersecurity. And only 19% are ready to cope with external threats independently.

This image shows breakdown of inhouse & outsource in IT.

Threats are rapidly escalating as criminals develop increasingly sophisticated fraudulent tactics. They exploit every vulnerability and bottleneck to inflict significant harm on businesses.

This image shows cybercrime statistics.

By 2025, experts predict that cybercrime will result in a staggering $10.5 trillion in damages.

As cybercrime has remained one of the most prevalent trends in IT over the last decade, you must ensure that your business is protected. Relying on outsourcing in this way is a rational decision, and it is worth assessing the pros, cons, and strategic benefits.

In this article by Factor Dedicated Teams, you will discover all the ins and outs of cybersecurity outsourcing. Let's get started.

Benefits of IT security outsourcing

Cost

Outsource cybersecurity and bring financial advantages – cost predictability and technology savings – to your company. What does it mean?

You get access to specialized expertise without the hefty costs of full-time hires, a vital point especially for smaller companies. Imagine a small players gaining access to top-notch cybersecurity professionals through outsourcing without the burden of salaries and training expenses.

Outsourcing often comes with predictable costs. Contracts with providers can be structured with fixed or quickly forecasted expenses, ensuring any business can plan expenditures without surprises. This predictability shields against unexpected shocks, which is particularly important in cybersecurity, where unforeseen breaches or security upgrades can be costly.

Outsourcing firms typically invest in modern security tools and systems that might be too expensive for individual businesses to acquire and maintain. Imagine a business gaining access to state-of-the-art security technologies like advanced firewalls and threat detection systems through outsourcing, freeing up resources.

Coverage

The amalgamation of comprehensive coverage, relentless support, and unwavering reliability makes outsourcing cybersecurity genuinely beneficial.

Consider the scenario where a cybersecurity provider extends a suite of services:

• Round-the-clock support empowers companies to mount swift responses to security incidents. This mechanism guarantees that security issues are nipped in the bud.
• The reliability factor cannot be overstated. Professional cybersecurity providers bring to the table a wealth of expertise, battle-hardened experience, and cutting-edge resources.

Expertise and Experience

Professional cybersecurity providers adorned with industry certifications and seasoned proficiency bring a formidable arsenal of knowledge and skills to the forefront.

Consider the realm of cybersecurity experts holding certifications:

• Certified information systems security professional.
• Certified ethical hacker.
• Certified information security manager.
• Certified information systems auditor.

These credentials signify a deep-seated mastery across critical domains such as network security, penetration testing, risk management, and compliance, instilling confidence in their ability to navigate intricate cyber landscapes.

Furthermore, the reservoir of experience held by cybersecurity providers is a testament to their adeptness in combating a spectrum of cyber threats. From thwarting ransomware incursions to addressing data breaches, countering DDoS assaults, and managing insider risks, their track record speaks volumes about their ability to maneuver through tumultuous cyber terrains.

By forging partnerships with cybersecurity experts, businesses gain access to:

• Tailored security frameworks.
• Proactive risk mitigation.
• Advanced technological defenses.
• Empowered workforce.
• Swift incident response.

Proactive Threat Management

The proactive ethos of threat management encompasses several pivotal strategies:

• Continuous surveillance.
• Harnessing threat intelligence.
• Rigorous risk evaluation.
• Penetrative testing.
• Strategic incident response planning.
• Active threat hunting.

By entrusting cybersecurity to external experts, businesses unlock access to these proactive threat management strategies, augmenting their cybersecurity posture and resilience without the overhead of maintaining extensive internal capabilities. This proactive stance bolsters defenses.

Access to Talent and Technology

Outsourcing cybersecurity opens doors to an expansive realm of expertise and technology, a benefit that businesses often find challenging to replicate internally.

Cybersecurity firms often serve as vanguards in adopting and integrating emerging technologies into their security arsenals. This early embrace means businesses outsourcing cybersecurity gain a strategic advantage with access to cutting-edge solutions. Typical examples are AI-powered threat detection, machine learning algorithms for behavior analysis, and automation tools for rapid incident response.

The ability to swiftly implement innovations bolsters resilience against evolving threats and positions businesses at the forefront of cybersecurity prowess.

Potential drawbacks of outsourcing cybersecurity

Yes, outsourced cyber security can bring expertise, resources, and cost efficiencies. But you should remember that businesses must weigh these benefits against the potential drawbacks.

Take a look at the table below to learn more about the other side of the coin:

Deciding What to Outsource and What to Keep In-House

As you're aware of the benefits and potential drawbacks, you understand the importance of strategically outsourcing certain functions while maintaining others in-house. Now, let's delve into the heart of this article: learning how to determine which aspects of your data, services, and operations can be secured through outsourcing.

Functions Suitable for Outsourcing in Cybersecurity

This image shows key takeaways on what functions that should be outsourced.

Security of Custom Software Solutions

This function stands as a prime candidate for outsourcing. Why? Because your company gains access to specialized skills and technologies, customized for your specific business needs, and this access is boundless. Consequently, your business guarantees highly secure software seamlessly integrated with existing systems. An added boon is the expedited development cycle your business can harness.

The array of processes includes:

• Cybersecurity web app development.
• Security browser extension development
• Secure legacy software re-engineering

Navigating through these complexities demands seasoned experts with the right expertise. This is where outsourcing steps in to offer assistance.

Monitoring and Incident Response

This method ensures vigilant oversight 24/7 without the overhead of maintaining an in-house team around the clock.

Consider this: external providers armed with advanced tools like SIEM platforms such as Splunk or IBM QRadar comb through security logs for anomalies, leveraging threat intelligence feeds for up-to-the-minute threat insights. Their expertise in threat analysis enables them to correlate events, identify patterns, and swiftly respond to potential incidents.

If you choose outsourcing as a method, a dedicated incident response team, following established protocols, will quickly triage, contain, and mitigate security breaches. With automated monitoring bolstered by human oversight, threats would be identified and neutralized at any hour.

Vulnerability Management and Penetration Testing

If you need to empower this point, rely on third-party providers. They will inject fresh perspectives and cutting-edge methodologies into vulnerability assessments. Do you appreciate savvy moves for impartial and thorough evaluations? Select outsourcing, as this approach gives you additional freedom in vulnerability management.

Picture this: external seasoned experts utilize automated vulnerability scanning tools and manual penetration testing techniques. They unearth potential weaknesses and bottlenecks across networks, applications, and systems. But they continue because experts go a step further above by simulating real-world attack scenarios and gauging the effectiveness of existing security measures.

By aligning with industry standards (such as OWASP or NIST), businesses ensure comprehensive and standardized assessments, bolstering their security posture and proactive risk management strategies.

Compliance Assurance

Outsourcing compliance to experts streamlines this process, mitigating the risk of penalties due to non-compliance.

External compliance specialists meticulously monitor regulatory shifts, such as GDPR, HIPAA, or PCI DSS, ensuring continuous adherence. They conduct thorough audits, craft robust policies, and provide tailored training to keep teams aligned with compliance standards. Additionally, their risk assessment and incident response expertise fortifies businesses against potential compliance pitfalls.

By outsourcing compliance functions, businesses can effectively shield themselves from costly penalties.

Threat Intelligence Capabilities

Accessing global threat intelligence and analysis through outsourcing often surpasses the capabilities of in-house teams.

External threat intelligence providers, armed with cutting-edge tools and a global perspective, monitor the ever-evolving threat landscape. They track trends like ransomware surges, phishing waves, and emerging vulnerabilities, offering a panoramic view of cyber risks across industries and regions.

Outsourced experts don't just detect threats; they anticipate them. By leveraging advanced technologies and collaborative networks, they provide actionable insights tailored to your organization's needs.

Picture this: strategic advice on threat mitigation strategies, security posture enhancements, and incident response plans—all based on real-time intelligence.

Outsourcing is a wise decision to stay one step ahead in the cybersecurity game.

Functions Recommended for In-House Management

Yet, some core functions demand internal stewardship for sustained organizational vitality. Factor Dedicated Teams offer insights on these pivotal operations that merit in-house management.

Strategy and Governance

Regarding cybersecurity strategy and governance, keeping these crucial aspects in-house is akin to securing the core of an organization's digital fortress. Why? Because strategic planning, the development of overarching security policies, and the establishment of robust governance frameworks must be tightly integrated with internal leadership and business objectives.

Internal leadership is a core.

Consider this scenario: A multinational financial institution decides to outsource its cybersecurity strategy development to a third-party provider. The security policies crafted may not fully align with the business's unique risk appetite and compliance requirements.

On the contrary, when internal leadership drives cybersecurity strategy and governance, every policy and framework is tailored to the organization's specific needs and challenges.

Security of Core Business Applications

When it comes to fortifying vital business applications, the age-old wisdom of "knowing is commanding" holds profound significance. Managing the security of core business applications internally taps into the team's deep familiarity with the organization's complex operations and distinct requirements. This crafts a defense specifically designed to endure cyber threats and any operational interruptions.

When organizations manage their core business application security internally, they gain significant advantages:

• Internal teams possess an intricate understanding of the applications, data flows, and user behavior. This deep familiarity enables them to swiftly identify unusual activities or potential security issues.
• In-house experts can tailor security measures such as access controls and encryption to precisely match the company's unique needs and risks. This customization ensures robust defense mechanisms without impeding operational efficiency.
• Should a security incident occur, internal teams can respond rapidly, containing the impact and facilitating faster recovery. This agility reduces downtime, financial losses, and reputational damage.
• Internal management allows for continuous monitoring, proactive vulnerability assessments, and regular security audits. This proactive stance cultivates a culture of resilience and keeps the organization ahead of emerging cyber threats.

Data Privacy Oversight

There are some industries bound by stringent privacy regulations. And if your business is from this pool, the stakes couldn't be higher. Managing data privacy has to be on the front page for steeearing company wisely. Entrusting the responsibility of handling sensitive customer and business data to an internal team brings forth numerous advantages that deserve attention.

Internal teams have a detailed understanding of the organization's data setup, covering sensitive data types, storage methods, access rules, and processing workflows. This in-depth knowledge allows them to implement customized data privacy strategies that align smoothly with regulatory requirements and industry norms. A great illustration of this is in healthcare, where strict HIPAA regulations govern data protection. Here, a skilled internal team well-versed in healthcare data privacy not only ensures compliance but also effectively protects patient information from possible breaches.

Having an in-house team provides increased control and accountability in data privacy practices. Internal teams can create clear policies, strong procedures, and strict access controls, guaranteeing that data is handled securely and in full compliance with privacy policies. This level of control is particularly crucial when dealing with sensitive financial or personal information, as mishandling could lead to regulatory penalties and substantial harm to the organization's reputation.

Insider Threat Mitigation

Consider this point as one suited for managing in-house.

Internal teams are always deeply embedded within the organization. This means that all members understand its unique culture, operations, and employee dynamics. These factors enable them to identify behavioral anomalies or suspicious activities that external entities might overlook.

In a financial institution, internal teams can detect unauthorized access attempts or abnormal data transfers. These moments could indicate insider threats such as data theft or fraud. But why is this possible?

In-house teams are very well-equipped to establish and enforce access controls and security policies. They are tailored to your company's risk profile and compliance requirements. They also can:

• Conduct regular audits.
• Monitor privileged user activities.
• Implement behavioral analytics tools.

As a result, you can be confident that your company will detect deviations from normal behavior patterns. A proactive stance helps in early detection and response to potential insider threats before they escalate.

Such teams foster a culture of security awareness and accountability among employees. It encourages them to report suspicious activities and adhere to the best security practices. Working together enhances the company's overall security stance and ability to withstand any internal threats with success.

Cybersecurity Outsourcing Best Practices

As you set out on the journey of outsourcing cybersecurity, keep these seven key best practices in mind to guarantee a successful outcome:

This image depicts the best practices for outsourcing cybersecurity.

Final Words

There's a better way for a company to grow and maintain security: using an outsourcing model. In this article, Factor Dedicated Teams has discovered all essential outsourcing information security. Tables with cyber security pros and cons will help you understand if this approach is suitable for your business, assessing the key benefits of cyber security in the long run.

There are no threats or tricks. We've seen that a good quality of protection and regular audits consistently delivered always win the day. It takes preparation, patience, and persistence. It also takes guidance to gain confidence.

Need additional information about data security outsourcing or individual help?

Contact us anytime.