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Rise in threats

It’s an understatement to say that 2020 was a challenging year for businesses. The COVID-19 pandemic has not only caused a seismic shift in the way that businesses operate, but it has also had a significant impact on staffing and resource. In December, official figures showed that unemployment had risen above 5% in October, representing more than 1.5 million people, but as the pandemic continues, experts are predicting that figure will increase to more than 2.6 million by the middle of 2021.

While businesses have had to make difficult sacrifices regarding their workforce, the threats from cyber-criminals never cease, and have increased since the pandemic began. In the first quarter of 2020, just as the pandemic began to take hold, the UN security council reported a 350% increase in the number of phishing scams, particularly targeting the healthcare sector.

Shortage of Cyber Skills and Budget

The good news is that most businesses recognise the threat and understand the need to improve their organizational risk posture. In fact, according to a 2020 paper from Accenture, almost 70% of all business leaders believe the risk from cybersecurity is increasing. They’re feeling increased pressure on the cyber arm of their business, having to consider investing more and more in terms of training, resources and security technology as the threat landscape continues to grow. That’s a problem for businesses, because their investment in internal cybersecurity is effectively never ‘complete’, making CFOs and those in charge of the budgets less willing to continuously invest money into it. This is compounded by the fact that ROI can be quite hard to measure in cybersecurity, particularly if reporting and analytics aren’t up to scratch.

Despite being aware of the threat, and showing a willingness to invest, more than 80% of employers have reported a dire shortage of cybersecurity skills within their organisation in the past year alone. This highlights the ever-widening skills gap in cybersecurity that makes it harder than ever before for businesses to find the in-house resources they need to defend themselves.

However, there is one way in which businesses can beat the ‘resource crunch’ presented by the skills gap while also remedying their concerns around endless in-house investment. The answer lies in forming trusted partnerships.

What are the benefits and risks of outsourcing the cybersecurity function?

There are numerous perks in developing trusted partnerships with security companies when compared with maintaining this capability in-house. These include, but are not limited to:

  • Access to a plethora of skilled, experienced, and specialist security professionals that are otherwise hard to employ given the cybersecurity skills shortage.
  • Efficiency in mobilization and a reduction in lengthy processes such as recruitment and on-boarding.
  • Access to security resources around the clock (dependent on the service), removing blockers on security experts only being available during core business hours.
  • Independent validation of your cybersecurity posture from skilled professionals removed from the build, deployment, and operational management of systems.
  • Advanced capabilities in threat detection, defensive technology suites, and practical knowledge that may otherwise require multiple internal resources.
  • Reduction in FTE overheads when compared to a team of full-time, permanent in-house resources whose skillset may not be required on a daily basis e.g. cyber incident response.

Key Considerations

There are a number of considerations that organisations need to make when considering outsourcing to assist with its security function efforts. These may include:

  • Business objectives
  • Security requirements
  • Size and complexity of the business
  • Risk appetite
  • Resource availability
  • Type of skills shortage the organisation has
  • Volume and sensitivity of data held
  • Legal/regulatory requirements

There may also be an increased risk to the supply chain due to the outsourced partner gaining access to highly privileged accounts and information which, if compromised, 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 the outsourcing of 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 internally. According to Gartner, global spending on cybersecurity products is increasing and is likely to hit a staggering $170 billion in 2022, but what are the metrics to success when it comes to utilising these products? The good news is that there are a number of service providers who have the flexibility, skills, experience, and specialist capability to offer organisations a significant and clear return on their investment whilst improving their security posture through the use of outsourced security professionals.

Introducing Max Does Cybersecurity

One of the key reasons for outsourcing business functions is the ability to access skilled workers at a much lower overall cost, and scale resource quickly depending on the specific needs of the business. Instructing an external provider also ensures continuity of service, even if internal operations shift as a result of changes brought on by the pandemic, such as stricter lockdown measures or further redundancies.

Max Does Cybersecurity, SureCloud’s latest offering, is a tech-enabled service that provides an all-encompassing cybersecurity solution, giving organisations access to their very own security team which can be scaled up or down, without the usual overheads. It is designed to remove the challenges of annual budgeting by offering a wrapped-up package that can be dynamically adapted based on an organisation’s evolving needs, so they don’t need to plan a year in advance. Working with SureCloud you will map out your business outcomes/goals ensuring you achieve the metrics your stakeholders are interested in.

Through Max, organisations have access to an extensive cybersecurity consulting team,  with over 200 years of hands-on experience and certified by industry-recognised schemes. What’s more, Max uses robotic process automation to streamline its efforts, taking care of the smaller things so that human minds can focus on the things that matter.

Max does Cybersecurity gives your organisation access to an industry-leading cybersecurity service backed by the SureCloud guarantee of quality and availability. This includes:

  • A world-leading platform providing consolidated dashboards of all your cybersecurity activities
  • The ability to establish, operate and continually improve your cybersecurity program to meet the demands of the modern era
  • Access to senior, skilled professionals to help supplement decision making:
    • Validation of key strategic decisions
    • Trusted experts to act as a “sounding board”
    • Practical experience from people who have performed CISO and “Head of” roles
  • On-demand access to a wide range of technical and consultative skills
  • On-demand and flexible security testing from traditional vulnerability assessments to blue and red team engagements
  • A range of cybersecurity collateral, including cybersecurity training videos, policy and procedures.

SureCloud’s Max does Cybersecurity will give you effective visibility of your cybersecurity posture, helping you to understand what’s important and what you need to pay attention to.

Jake Bernardes, Head of Information Security at SingleStore and a SureCloud user, has also commented on SureCloud’s latest offering, stating: “This is a brilliant product/service & represents real value to those of us running complex programs with small teams!”

To learn more about Max Does Cybersecurity and how the solution can help organizations stay resilient and secure in a rapidly changing threat landscape, click here!

About SureCloud

SureCloud provides cloud-based, Governance Risk and Compliance products, and Cybersecurity & Risk Advisory services, which reinvent the way you manage risk. SureCloud connects the dots with Integrated Risk Management solutions, enabling you to make better decisions and achieve your desired business outcomes. SureCloud utilizes a highly configurable technology platform, which is simple, intuitive, and flexible. Unlike other GRC Platform providers, SureCloud is adaptable enough to fit your current business processes without forcing you to make concessions during implementation, meaning you get immediate and sustained value from the outset.

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