Managed Cybersecurity Services: Hiring Internally vs. Outsourcing

Cybersecurity at any organization is no longer optional.

It’s a necessity. There’s very little business that doesn’t involve a computer that’s connected to a network. That’s not to mention the many legal, regulatory, and industry standards for data privacy and security that organizations are now required to meet.

Organizations looking to add or enhance digital safety at their operations have two options: hire in-house or find external cybersecurity advisory services.

While both options represent an investment, the impact of a network breach and non-compliance can be far more damaging.

In-House Vs. Outsourcing Managed Cybersecurity Services

While in-house and external cybersecurity services providers are different means to the same end, there are important considerations for each option. What works for one organization might not be the best cybersecurity solution for another.

In-House Cybersecurity Services

For some organizations, going the in-house route for managed cybersecurity services seems to make the most sense.

With on-site staff handling your cybersecurity services, there’s always someone maintaining network security and ready to respond immediately to an issue. There’s almost no learning curve about your company except during their initial onboarding. What’s more, they’re a member of your team involved and invested directly in daily operations.

In-house cybersecurity services are not without their downfalls. Often, an internal cybersecurity service provider doubles as the organization’s IT provider. In other words, cybersecurity is a component of their job, but they’re also ordering keyboards and fixing hard drives on the side. Because robust cybersecurity requires full-time attention, using an in-house cybersecurity professional means full-time pay and benefits — two costs of business that add up over time.

Outsourcing Cybersecurity Protection

Lacking an in-house expert with the latest knowledge and skills, many organizations face an uphill slog to meet today’s cybersecurity requirements. To properly protect themselves, many organizations turn to an external partner, or a vCISO.

What is a vCISO? A virtual chief information security officer. As the name implies, a vCISO works remotely and handles key cybersecurity tasks, such as:

• Network security
• Data security program creation and maintenance
• Security control implementation
• Policy and procedure creation

Unlike an internal provider — who’s often pulled in many directions — a vCISO’s primary job is to stay abreast of the latest cybersecurity standards and monitor your network.

Virtual cybersecurity services no longer face the hurdles they used to. With remote technology far more developed — and secure — than it was 10 years ago, an external cybersecurity provider doesn’t need to be in the same time zone as you to effectively monitor your networks or respond to incidents.

A partnership with an outsourced cybersecurity provider is also a more cost-effective option. With almost no overhead to your organization, enlisting vCISO services is substantially cheaper (up to 65% less) than keeping cybersecurity consulting services in-house.

Do You Need to Choose Between In-House vs. vCISO Services?

In short, no. Some organizations take a hybrid approach to cybersecurity advisory services.

Many virtual CISO consulting services offer a-la-carte plans, meaning you only choose the services you want. This method makes it easy to integrate external cybersecurity advisory services with your existing team.

While this route does require more oversight and isn’t always the most budget-friendly option, it does shore up gaps in your existing cybersecurity defenses. It also frees up your in-house team to focus on other responsibilities.

Why Managed Cybersecurity Services Are a Must

Regardless of the route an organization goes for its cyber defenses and maintenance of them, cybersecurity is a must.

Why?

In an increasingly digital world, cyber threats are ever-present. Network breaches are becoming more widespread and cyberattacks more sophisticated.

Organizations are also finding the need for adequate cyber protections being imposed by outside sources beyond the hacker:

• Cyber insurance has become more stringent. In order to maintain coverage, insurers are requiring organizations to increase baseline cybersecurity requirements.
• When companies explore a strategic partnership or external funding, those potential partners are taking a deep dive into the company’s cyber program to make sure the risk of partnering is minimal.
• Governments at all levels are passing new legislation or imposing requirements all organizations must meet, including GDPR, CCPA, and ISO. There are also industry-specific compliance requirements for many organizations such as HIPAA. Failure to meet enforced cybersecurity standards usually means expensive fines.

Cybersecurity Services: A Non-Negotiable

Cybersecurity services are on the same level as any other mission-critical function in an organization. Without a dependable and current cybersecurity framework, the risk for devastating cyberattacks and noncompliance increases exponentially.

Though organizations have a choice in how they’ll integrate cybersecurity services into their operation, going without is no longer an option.

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