Outsourcing cybersecurity: the key considerations
Though there are many benefits, securing the right cybersecurity risk management team is not straightforward. There are a number of considerations when considering outsourcing to assist with their security function efforts. Your values and understanding of these considerations must align. These may include:
- Business objectives
- Security requirements
- Size and complexity of the business
- Risk appetite
- Resource availability
- Exact business skills shortage
- Volume and sensitivity of data held
- Legal/regulatory requirements – security and compliance go hand-in-hand
You must also weigh up the increased risk to the supply chain created by giving a third-party access to highly privileged accounts and information. If compromised, this data would present a significant risk to the business. Conducting relevant due diligence and understanding the security posture of the outsourced company is, therefore, critical when considering outsourcing any security function.
Businesses also need to ensure that their security budgets are being stretched to their full capacity, something that’s very difficult to measure and balance internally. According to Gartner, global spending on cybersecurity products is increasing. In 2022, spending was $172.5 billion and is likely to continue growing at a CAGR of 11%.
But what are the metrics to success when it comes to utilising these products?
The good news is that there are many service providers with the flexibility, skills, experience, and specialist capability to offer organisations a significant and clear return on their investment by improving their security posture.
Outsourcing cybersecurity to external professionals provides the risk and compliance management that businesses need, without the massive internal restructuring, re-budgeting, and investment that in-house cybersecurity teams require. At SureCloud, our Managed Programs can offer you exactly that.