Business networks have never been more insecure than they are now. They are growing increasingly complex and are, at the same time, coming under constant attack from a variety of cyber threats. Acquiring the resources in-house to secure a large network and stay ahead of the curve on the shifting nature of the threats businesses face can be both challenging and costly. For most mid-sized and large organizations, outsourcing cyber security to an experienced managed security service provider (MSSP) makes sound business sense.
A Growing Threat
Businesses of all sizes increasingly are in the crosshairs of cyber criminals. They are coming under attack more frequently and the sophistication of these attacks is increasing. In 2007, the United States Computer Emergency Readiness Team registered 12,000 cyber security incidents. That number had doubled by 2009 and quadrupled by 2012.
Most American businesses have not yet adapted to this environment. A new survey of 1015 small and mid-sized companies by the National Cyber Security Alliance and Symantec shows that more than 80 percent lack any formal cyber security plan.
This shortsightedness is both puzzling and alarming. A cyber security breach can be devastating. Forrester Research has estimated that every record lost as a result of a cyber attack costs between $90 and $305 to recover. These costs don’t factor in the damage a breach can cause to an organization’s image and credibility. Javelin Strategy & Research found that 77 percent of 2,750 consumers polled would stop shopping at a store if it were to suffer a data breach. It’s little wonder that many businesses that suffer a cyber attack end up financially ruined.
Security Through Outsourcing
Businesses need to appreciate the fact that cyber attacks pose a danger to their very existence. By outsourcing network security management to a dedicated cyber security firm, they can better safeguard their company’s data—including company financials and employee and client records—and protect the bottom line.
An established cyber security firm provides ongoing access to experts who have a deep understanding of specific kinds of threats. You will surround yourself with a team of allies who have encountered and combated every manner of system security breach. These experts will be vested exclusively in securing and managing your network. Your in-house IT staff, which may be extremely capable and have a grasp of general security concepts, likely cannot rival the expertise and knowledge available at a managed security service provider.
What’s more, outsourcing your network security to these outside experts generally costs less than developing your own security staff and infrastructure. When you outsource your network security, you eliminate the need to purchase expensive hardware and software that will be costly to scale-up in the future.
Finally, when you outsource your network security management, you eliminate the need to recruit dedicated IT security personnel. This can lead to enormous savings. Mondo, a technology resources provider, estimates that an IT Security Manager with 10 years of experience can demand almost $150,000 in base annual compensation. That’s money any business owner would prefer to keep in the company coffers.
Smart Business Management
Given the gravity of the cyber threats businesses now face, and the economics in favor of outsourcing, it’s clear that any business should strongly consider working with a reputable managed security service provider. John Pescatore, an analyst at Gartner, says, “For many enterprises today, the question should be, ‘Why haven’t we outsourced the day-to-day grunt work of managing security devices?’ By choosing a quality MSSP, most enterprises will see an improvement in their security posture and free up internal resources to address the critical security needs of e-business.”
Veteran Business Solutions can provide security assessment services, as well as security design, implementation and support staff, to minimize the risk of a cyber-attack on your business. For more information, please call our specialists at (703) 946-4922 or contact us online.
