When considering changes in your cybersecurity, outsourcing is a common change to make, but can be a leap from your current situation. Outsourcing cybersecurity services can be beneficial for businesses in many ways, but there are potential risks to consider as well. When considering the change to outsourced cybersecurity, here are the top pros and cons of outsourcing for you to consider:
1. Cost Savings
Outsourcing IT security cuts costs on hiring in-house resources and training them. By relying on an outside service provider, businesses can benefit from economies of scale and get comprehensive service that meets their needs without breaking the bank. The financial benefit to outsourcing tends to outweigh the potential increase in cost overall to the company, when factored against the labor of in house monitoring.
2. Access to Expertise
Security services providers have a deep understanding of current security threats and solutions, enabling them to provide more effective solutions than most in-house teams could develop on their own. With this level of insight, your business is not just getting the benefit of current threat detection and security but the insight of future threats as well.
3. Improved Compliance
An outside vendor can help businesses stay up-to-date with the latest regulations and security standards, ensuring compliance. When you have the insight and benefit of an outside source to monitor compliance regulations and laws that your business is required to abide by, you can rest assured that your business will never lapse in regulatory procedure.
1. Loss of Control
Outsourced IT services could potentially mean a loss of control over systems. Businesses must ensure that any service provider is held to rigorous standards in terms of data privacy, transparency, and accountability. When an outside provider comes in with their own processes and procedures, it may take some time for businesses to adjust to the changes and ensure that their systems are secure.
2. Data Security Risks
When relying on external vendors, the risk of data breaches increases as there are multiple points of access to a company’s system. Companies need to be aware of this risk and choose providers carefully. This is an opportunity to use a third party to assist in the audit and certification process of potential vendors to ensure security policies and protocols are being followed.
3. Vendor Management
Outsourcing IT security requires significant effort and resources to ensure that providers are meeting the standards set by the company. Businesses need to be prepared to manage their vendors and adjust protocols as needed. Making sure that the initial contract is sturdy in regards to the businesses expectations and remains within the parameters set is an additional task to take on but can be mitigated depending on the vendor selected and the agreement set with said vendor.
Overall, outsourcing cybersecurity can be a practical option for businesses looking to save costs, access important expertise, and stay compliant with industry regulations. But it is important for companies to weigh the potential risks against the pros to ensure that outsourced security is the right choice for their business.