Cybercrime is growing at a global scale, with hackers developing new and more dangerous attacks like clockwork. In fact, studies show that cyberattacks can cost companies $200,000 on average. Even for a small- and medium-sized business (SMB) in Chicago or Tampa, recovering from compromised systems and data can cost thousands of dollars per hour. This, of course, doesn’t include the potential lawsuits, noncompliance penalties, and reputational backlash from a major cybersecurity incident.
Given the high stakes, it’s never been more important for businesses to invest in cybersecurity. However, an internal team dedicated to that function may be out of reach for SMBs with tight budgets.
Outsourcing is often a more prudent option for businesses, but not many executives know when it’s the right time to do so. Here are five sure signs that indicate when you need to outsource cybersecurity to a managed IT services provider (MSP).
Limited in-house security expertise
Although cyberattacks are evolving in sophistication and frequency, businesses are facing a severe cybersecurity talent shortage. Skilled security practitioners are often in high demand and are usually employed by much larger corporations with deep pockets. That means, for the average SMB, there are fewer practitioners to choose from.
Fortunately, MSPs fill their rosters with scores of highly qualified security consultants. These MSPs serve as an extension of your business, giving you access to on-demand expertise and immediate support whenever you have a security issue. Dynamics Solutions Group, in particular, has consultants specializing in network security, endpoint protection, and security awareness training, just to name a few.
What’s more, our security experts are constantly reading up on new threats and solutions so they’re better prepared to support your company in the long run.
You need objective security assessments
Even if you have an internal IT technician, it’s a smart move to have someone outside your organization provide an independent analysis of your current cybersecurity framework.
Outsourced security consultants run a series of assessments using vulnerability scanning tools and attack simulations to pinpoint the weaknesses in your systems and see how they measure up to the latest threats. They also assess your business partners and software vendors’ security to account for every source of a potential breach.
The findings from these assessments will allow security consultants to better recommend the right tools and defense strategies to reduce your company’s overall risk exposure. By conducting these assessments regularly, you can stay several steps ahead of cybercriminals while maintaining compliance with any industry standards that govern your business.
There’s no one in charge of threat monitoring and incident response
Processes that your company doesn’t have the bandwidth for are often ideal for outsourcing. Security monitoring and incident response fit right into this category. Many organizations don’t have enough staff to watch over the company network around the clock, let alone perform triage and execute a recovery plan when a breach does occur.
The best MSPs support businesses by proactively monitoring their systems and addressing potential risks before these risks lead to a full blown security breach. They also prepare your business for major breaches by developing a customized response strategy, complete with a crisis communication plan, threat analysis and forensics, and data backup and recovery procedures.
By rounding off your company’s security with these services, MSPs enable your internal staff to focus on higher-priority projects.
The business lacks enterprise-grade defenses
Another sign that you need to outsource is if your business is ill-equipped to defend against new varieties of cyberattacks. In 2020, cybercriminals have used mobile malware to attack remote workers, launch increasingly targeted ransomware attacks, and initiate phishing scams that take advantage of the COVID-19 pandemic, and many more.
Top MSPs offer cutting-edge security solutions that rival those found in larger enterprises. They implement tools like next-generation firewalls, endpoint management software, encryption software, and AI-augmented threat detection systems to protect your business from all angles of attack. Plus, experts routinely patch these tools and maintain licensing and support for them for as long as you need.
| Related: Find out the cybersecurity challenges associated with remote work |
IT budgets are stretched thin
For many businesses, the biggest barrier to a comprehensive security framework is the cost associated with implementing and maintaining one.
As mentioned, there’s a short supply of available, qualified security professionals, but it’s also expensive for businesses to hire full-time staff. Just hiring one in-house security expert costs salaries, training, and additional benefits, and companies usually need to hire several people dedicated to cybersecurity. To make matters worse, paying for premium security software licenses and in-house 24/7 support can be too much for businesses to manage, especially for those that have been hit hard by the pandemic.
Outsourcing security to an MSP is a much more cost-effective option for companies because they offer a pay-as-you-go subscription fee for their services. MSPs will assess and monitor your systems, apply the necessary updates, and even use their close partnerships with leading security vendors to give you discounted rates on enterprise-grade defenses.
Entrusting your cybersecurity to another company may seem like a daunting task, but finding the right MSP can mean huge gains for your company. If you run a business in Chicago or Tampa, Dynamics Solutions Group can effectively manage your cybersecurity. Our fully certified security consultants take the time to figure out the fundamental flaws in your IT infrastructure and use their years of industry experience to recommend the best defenses for your business. Contact us now for a security consultation and ensure your company is safe from harm.
