Cyber crime is the fastest-growing crime in the US and last year it was growing faster in Ireland than anywhere else.
As hackers dream up new attacks every day, so too must we keep up to date with how to detect and prevent these new and old methods. To be most effective at protecting your organisation, security software must be updated regularly – ideally daily. But this is a time consuming task. Not only that, people with these skills are hard to find.
A hugely effective way of overcoming this is to outsource. This is becoming the norm in the USA, but it’s still relatively new here in Europe.
Here are some other reasons why organisations might outsource your cyber security:
No in house IT resources or lack of expertise
Companies chose to outsource when they have a lack of expertise to identify and manage security threats. A brand new report found that 44% of cybersecurity professionals feel their teams lack the necessary skills to combat the threats their organisations face. It also found that 37% cannot deal with the scale of the current workload. And they’re just too busy to keep up with the skills training necessary.
Data protection and cyber security regulations are ever-changing. Working with a partner will help you maintain compliance. MSSPs have dedicated staff to provide personalised cybersecurity services for your business, ensuring you meet all regulatory and compliance needs as well as mitigating the top risks.
Hackers don’t work office hours
As criminals don’t keep to office hours, most organisations need 24 hour support to continuously monitor threats.
Avoid data breaches and associated costs
MSSPs help organisations avoid the often-devastating costs, both financially and reputational, that come from security breaches. For instance, Target’s data breach in 2013 resulted in information from more than 40 million credit and debit cards being stolen. It cost the company over $200 million.
The 2014 Sony hack ended up costing the company over $40 million in damages, not including the additional amounts that still stem from IT repairs, litigations and investigations. The 2017 Equifax breach exposed social security and driver’s license numbers of more than 140 million Americans, with their own damages estimated at over $300 million.
Although these may seem like extreme scenarios, they are becoming increasingly common, causing major losses to large enterprises and completely shutting down small businesses. MSSPs help you save your business and your reputation by finding and fighting breaches such as these.