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Managed Security Services - why it could save your business

The case for Managed Security Services

As global cyber attacks mount and escalate in severity, companies are trying their best to just keep their heads above water. As is becoming more and more evident however, staying ahead of the curve when it comes to protecting a business against breaches may seem like an insurmountable task. With 61 percent of surveyed Australian and New Zealand companies expecting an attack on their organisation this year, it is often not a question of “if” a company will be breached but “when” and to “what degree of damage”?

While cyber criminals definitely do not make things any easier, a number of related factors often contribute to poor performance of most well-known companies when it comes to their cyber security. These factors are also the reasons why putting your company’s security into the hands of a MSSP might be the best decision you will make this year. When it comes to dealing with cyber threats, companies large and small face shortages of qualified and capable staff, limited budgets and inability to effectively thwart threats.

1. Supplement or expand necessary skills

Hiring, training and retaining qualified in-house security experts can be a costly and time- consuming procedure. A recent report suggests that it takes around 6 months to fill 32 percent of open IT security positions, and more than 35 percent of organizations are unable to fill open security jobs at all. These numbers are only expected to get worse, with an expected shortage over the next few years of 2 million cyber security jobs worldwide.

In addition, according to the “State of Cybersecurity: Implications for 2015” study, fewer than 25 percent of cybersecurity applicants are qualified to perform the skills necessary for the job, and the most important qualification of hands-on experience is extremely lacking. Due to these chronic shortages many basic security tasks are deferred and overlooked, resulting in only 43 percent of Australian and NZ surveyed companies being ‘prepared’ for an attack.

Even if you believe your company’s in-house security team is up to scratch, what happens when everyone goes home for the night? A MSSP can handle security tasks such as 24/7 monitoring, manage your security devices; update security policies; manage your network, application, web and email security; and much more. A well chosen MSSP can help deliver breadth and depth to your security coverage, address compliance requirements and ensure that your company’s security needs are met now and into the future.

 

2. Make the most of your Security Budget

Implementing the right security measures and maintaining a strong security posture can be very costly. And while security budgets continue to slowly rise in an effort to meet the increasing cyber challenges, by the time most security teams feel the effects of increased funding and find the staff to fill necessary gaps, it will be too late. A recent survey of more than 1,000 security professionals surveyed indicated that 54 percent believe that they need to double their IT security staffing, and 24 percent believe they need four times as many security professionals to cope with everyday threats. While throwing security staff at a problem may seem like a bright idea, considering that an average salary for a qualified security expert in Australia is around $146,500, security budgets of most companies will not stretch far enough to allow it.

Employing the services of a MSSP can help you eliminate the costs involved in recruitment and training of additional security experts; eliminate the need of large upfront costs associated with developing in-house security operations centre – necessary for rapid detection and response to security breaches; and allow you to take advantage of industry best practices and economies of scale.

 

3. Improve your Security Posture 

According to Eddie Schwartz, the international vice president of ISACA, the attempt of organisations to manage cyber security on their own is equivalent to “a bunch of small countries trying to fight a superpower in terms of organised criminals and nation-states; there’s just no hope”. While that may seem like a bleak outlook, it has proven to be accurate over the last few years, as even the largest companies all over the world are finding it hard to tackle the hurdle presented by advanced cyber threats.

By switching to Managed Security Services, your company can forgo all the aspects of insufficient capacity that may negatively impact your security outcomes. A MSSPs advanced experience, greater specialisation and increased proficiency when it comes to providing enterprise-wide protection, can help your organisation strengthen its defences and respond to new threats as they emerge 24 hours a day, 7 days a week, 365 days a year.

 

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