Cyberattacks come in different forms. Statistics show that the number of attacks keeps increasing over time. This growth has been linked to the propensity of criminals to extract money from particularly defenseless and vital segments of society.
The ACSC received over 60,000 cybercrime reports during the 2020–21 fiscal year. This shows an increase of over 13% from the prior fiscal year.
Companies are now trying to find answers, with cybersecurity as a service (CSaaS) being one of the popular alternatives.
What Is Cybersecurity as a Service (CSaaS)?
Cybersecurity as a service (CSaaS) is the outsourcing of digital security management to a specialized supplier of information security services. These providers manage a particular aspect of your business operations and frequently in bundles that could, among other things, comprise the following services:
- Initial advice on cybersecurity
- A “health check” for security essentials
- Educating users about cybersecurity
- Periodic testing for vulnerabilities
- Recurring virus updates
- Ensuring users adhere to all applicable laws, rules, and industry standards
- Planning for business continuity
More than 75% of firms expect to outsource at least half of their cybersecurity needs in the next five years. This is according to an SMB security analysis based on data gathered from 850 small and medium-sized businesses in the US, UK, France, Germany, and Belgium.
A single internal cybersecurity expert or even a small team of specialists is unable to adequately guard the expanding attack surface brought on by the expansion of remote work arrangements. It also includes Cloud services, BYOD rules, and other variables.
The Pros and Cons of Cybersecurity as a Service
Better Management of Overhead Costs
Simple long-term savings are arguably the biggest benefit. Although there are fees involved, businesses do not have to worry about the frequently high overhead costs related to building an internal staff and purchasing technology and software.
Many smaller businesses with limited IT budgets cannot afford the high costs associated with a DIY solution.
It’s also vital to note Investing in internal cybersecurity is by no means a one-time transaction.
Unavoidably, your company will need to retrain your team members, employ new personnel, purchase new technology, and upgrade software.
This will have an immediate negative financial impact on you. CSaaS is a good substitute because it enables you to save most of these expenses and lessens your financial strain.
Tap Into Expert Talent
Finding the proper individuals and setting up an efficient security operations team can take a lot of effort, and scaling it up or down is an altogether separate challenge.
On the other hand, cybersecurity as a service is instantaneously accessible and offers simple access to a huge team of cybersecurity professionals, the most recent tools, and more.
Managed security service companies have a plethora of practical expertise to draw from when battling increasingly sophisticated thieves because they serve several clients in various industries.
Additionally, they are frequently accessible around the clock, which is uncommon for small in-house security operations teams, much alone one cybersecurity specialist.
Scale & Evolve with Your Company
Modern firms operate in a dynamic, quick-paced, and ever-changing global environment. As a result, an organization’s cybersecurity requirements will probably change over time.
A fledgling business with few employees and a modest infrastructure, for example, would likely have a small attack surface. In this situation, a modest security solution ought to be adequate.
The problem is that as businesses expand over time, add more staff, and strengthen their infrastructure, their attack surface will eventually increase. They would, therefore, need to buy a more comprehensive plan and boost their coverage.
Furthermore, the CSaaS model’s built-in flexibility is one of its best features. Businesses can adjust their scale to ensure they’re spending the proper amount on cybersecurity without adding unnecessary features.
Less Stress on HR
There are claims that the demand for cybersecurity specialists has increased dramatically in recent years.
By 2019, 6 million people will be added to the global labor force, but only 1.5 million people will be available to fill those positions. In other words, these specialists are frequently in short supply.
This means that even if you have the resources, putting together an internal team of cybersecurity professionals can be challenging. However, it might be virtually impossible when money is already tight.
The situation puts HR in a challenging situation and produces some genuine staffing challenges. Simply put, there might not be enough personnel to manage cybersecurity effectively.
Because it is accessible around the clock, using CSaaS is advantageous. By working with a third-party vendor, you can be sure that your business will always have the staff on hand to handle the task.
This consequently reduces a significant amount of burden for your HR team.
Maintain Focus on Core Business
Sadly, cybersecurity breaches are increasing in frequency, and even small businesses with only a few employees are no longer immune to opportunistic cybercriminals’ attention.
Due to the constant strain, it is becoming increasingly difficult to keep your attention on your core business operations, which lowers productivity and negatively affects customer satisfaction.
Organizations don’t have to worry about log management, network monitoring, installing software updates, or any other time-consuming procedures required to fend off cyber threats while using CSaaS. Instead, they could devote their time and energy to expanding their company and delighting their clients.
Choosing a CSaaS Provider
What standards should you pay attention to while evaluating your options to make sure a vendor is a good fit for your business and can keep you safe?
When choosing a provider, bear the following in mind:
How long a provider has been in the industry speaks of its efficiency and reliability.
Policies and Procedures
The processes and structure of the chosen provider are vital. It is a clear indication of its readiness.
Ensure that the provider you select offers the specific service you seek. It is best to let them show you past jobs to verify that they can do the job.
The cost of the service should not overwhelm your organization.
Testimonials from other organizations should give you a fair idea of the kind of provider you are choosing. These act as a review of their past jobs.
Given the environment that modern organizations are currently functioning in, cutting corners in the field of cybersecurity is just not an option. Cybersecurity investment is a requirement, not an option.
Organizations outsourcing their cybersecurity management through CSaaS is a recent trend that we’ve noticed. Although it does have a price, it frequently costs far less than what a corporation would pay if it were done internally. Not to mention the expenses associated with a data breach or cyberattack.
Numerous advantages that are generally possible with a conventional technique are also provided by CSaaS. Therefore, moving forward, your organization should give it some thought.