Cybercriminals work relentlessly to steal data, extort money, and disrupt business operations. According to a recent report by Riskbased Security, data breaches resulted in the exposure of more than 22 billion records last year. The average cost of a successful data breach exceeded $4 million – enough to bankrupt all but the largest enterprises. The only way to prevent catastrophe is to hire a dedicated team of experts. But should that group be staffed internally or outsourced? There are pros and cons to each approach.
Advantages to Staffing Cyber Security Internally
Companies that hire and manage their own security teams tend to be larger, have established security budgets, and enjoy clear, overarching direction from a CTO or CIO. For these organizations, there are tangible benefits to keeping breach detection & prevention in-house.
Hiring an internal team means the freedom to do things your own way. Employees can be reallocated as priorities shift and projects arise. But beware: continuity is extremely important. Without it, alerts may be missed and incident response times may be slower.
Adding an internal security department can make communication and collaboration easier. When co-workers live and work near each other, their ability to understand each other improves. But in the post-pandemic economy, companies are hiring talented people regardless of where they call home. As a result, this advantage has become smaller.
When Outsourcing Makes Sense
Companies that outsource IT security tend to be smaller, lack a dedicated security budget, and a smaller IT staff. These employees “wear many hats” – networking, help desk, platform management, etc. If that sounds like your company, outsourcing cyber security might make sense.
More service for less money
Having internal cyber security resources can be very costly. Paying salaries and providing benefits to employees is just the beginning. Continuing education courses are necessary but can be expensive. Security hardware and software must be purchased or paid for monthly.
Hiring the right people is also time consuming and expensive in an extremely competitive cyber job market. In fact, there are 600,000 unfilled cyber security positions in the US alone.
By paying a single monthly fee to an outsourced security company, businesses can leverage already-optimized technology, strategic planning, and comprehensive security services.
Faster Response Times
Depending upon the stipulations of their Managed IT Services agreement, an organization can get 24/7 monitoring, alerting, and remediation. Response times are driven by Service Level Agreements (SLAs), which guarantees that quality support is being delivered on a consistent basis.
A Diverse Team of Experts
As with many things in life, diversity is a strength in cyber security. By hiring a third-party security group, companies receive a valuable outside perspective. When it comes to architecting solutions, MSPs (Managed Services Providers) offer a broader base of knowledge and can solve larger, more complex problems.
Network security is just one aspect of cyber security. The best partners recommend a layered security approach to include related services that transform an organization’s security posture. That includes things like:
- Data backup and recovery
- Patching and updates
- Multi-Factor Authentication
- Cyber security training and testing for employees
There are positives and negatives to in-house and outsourced cyber security support. It’s important to choose IT personnel and partners carefully. Always keep an eye on the bigger picture – every IT decision should fit together in a way that makes sense and is rooted in best practices. Metrics matter – if a methodology seems to be working, there should be numbers to back that up.
If you’re not sure what direction to go in, we are here to provide honest, unbiased advice.
Envision Technology Advisors, LLC helps startups and established businesses safeguard their systems and data. We're also experts in Security & Design, Infrastructure Solutions, Training & Education, Web Design, Data Analytics, and Business Intelligence. Connect with us today to talk about your needs and the solutions we can provide.