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The need for enhanced cyber security solutions continues to grow as cyber security threats increase. Securing important information has become a costly affair. As the nature and complexity of cyber attacks mutates, companies have to contend with sophisticated cyber attacks. As a result, fighting cyber security threats using internal resources is almost impossible. If you are thinking of outsourcing your cyber security services, here are additional incentives to consider.
Most organisations have limited resources to spend on an in-house cyber security team. Even though your team is highly qualified, it will certainly not be able to detect and handle all emerging security challenges. Team members will have to undergo occasional and vigorous training to keep up with hackers. But what if there was a team somewhere that you can count on to solve this problem?
When you first hire an external cyber security team, you will explain your security requirements. The outsourced team will then propose the cost of the complementary services. If you have complex needs, the price will be higher.
This means that if you decide to scale down your operations, the cost of outsourced cyber security services will also reduce. Similarly, if you expand your operations to new markets and industries, you can request additional features from your cyber security providers. An in-house cyber security department cannot achieve such flexibility.
You can also request the type of skills that you want. For example, companies with sensitive data will prefer to work with data security experts.
Hiring and supporting an in-house team can be expensive. You have to purchase costly equipment and adopt expensive software. Moreover, the salaries of security experts have shot through the roof in the last few years. You’ll also be required to train your team every few months. The total expenditure could outweigh the benefits of securing your business’s systems.
Once you have signed the contract with a cyber security agency, your business will access highly effective security technology and experienced security experts at an affordable cost. Since cyber security companies receive payments from many clients, they can afford to distribute their customers’ operational costs. Ultimately, their total expenses will be lower than if they were working with just one company.
Cyber security companies can more affordably conduct threat modelling and risk analysis because they know cost-efficient tools and approaches. An in-house team may not be able to do this because it doesn’t have the time or resources to test all equipment and tools.
When your cyber security costs are lowered, your ability to spend on other business functions increases. The money saved can be reinvested within the IT department or used for other business operations. Also, you don’t have to keep an emergency fund since your business can stop using the outsourced services at any time.
Your business’s core function is not to protect data. Suppliers, clients, and staff need the business’s full attention. When hackers are terrorising your company, you won’t be able to serve the critical partners with accuracy and effectiveness. This changes when another company is watching over your data and information.
Startups and other small businesses have a lot to do to attract clients. They have to conduct market research, advertise their products, and ship the items, among others. When employees have to work on the security system, the core functions are affected. If the business wants to focus on the provision of services and products, a third party must enter the scene.
Security breaches have cost and legal ramifications. However, the process of implementing a cyber security system can bankrupt or disrupt a business. That is why outsourcing your cyber security needs is a smart move. Contact us today for more information on outsourcing your cyber security.
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1300 931 727