A 2018 report found that cybercrime in Ireland is double global levels, with four out of 10 organisations failing to assess the risks. And, as we say, these are just those that know they’ve been attacked. Many of the other 60% probably don’t know they’ve been hacked!
Our last post covered why you should outsource your cyber security. Here, I provide more details regarding the benefits of outsourcing your cyber security to an MSSP (Managed Security Services Provider). Part 2 of this will be published on 14th August.
What are the benefits of outsourcing to an MSSP?
One of the most significant benefits that MSSPs offer is their superior protection. MSSPs typically have advanced solutions that use well-tested technologies including AI, machine learning and threat intelligence. Because they work with a number of different companies in different industries, MSSPs have unique insights into the security landscape as well as the latest cyber security threats.
24 hour service
As threats and criminals evolve and work 24 hours a day, MSSPs provide around-the-clock services to help counteract their efforts.
A Managed Security Service Provider saves organisations significant upfront investments in technology as well as providing predictable monthly costs.
MSSPs have dedicated staff providing personalised cybersecurity services, ensuring each business meets all regulatory and compliance needs as well as mitigating top risks. By tailoring a program specifically for each company’s unique needs, MSSPs maximise return on investment while still addressing the most vital priorities.
No upfront technology costs
Another way that MSSPs save your organisation money is that there are no up-front costs on expensive technology. For example, if you choose to maintain security operations in-house, you could quickly spend hundreds or thousands of Euro on the necessary cyber security and equipment before you are even up and running. With an MSSP, their facility, application and analyst costs are distributed across their entire customer base, allowing your security operations to begin without the large up-front expense.
Unlike companies that rely on internally sourced cyber security experts, MSSPs spread the fixed cost of its technology and resourcing investment across a large customer base, passing savings onto the customer. In fact, an IDC report found that companies which switched to managed security providers reduced the costs of IT infrastructures by 24%.
Investing in cyber technology is expensive for individual companies, never mind licensing and staff training costs. Some of the greatest savings MSSPs offer is associated with these technology investments. MSSPs constantly stay updated with the latest technologies, protecting organisations against new global threats.
MSSPs enable both small and large organisations to replace unpredictable capital expenditures with predictable operational costs.