Why Managed Security as a Service Is Better Than Doing It Yourself
Companies of all sizes are turning to managed security as a service to supplement their internal tech teams. Approximately 70% of organizations leverage these services today, and the number is growing. Why are businesses outsourcing their IT security over handling it in-house?
What Are the Key Benefits of Managed Security as a Service?
Managed security as a service offers several benefits over doing it yourself, including:
- Cost Savings. It is very costly for an organization to build, maintain and hire staff for its security infrastructure. Managed security as a service providers offer economies of scale. This scalability allows them to provide this service at a lower cost over doing it yourself.
- Expertise. Managed security as a service providers employ security experts who stay up to date with the latest threats and best practices, which can be difficult for a generalized IT team with other duties.
- Scalability. Third-party security companies have the built-in resources to scale their offerings as you grow. Building, maintaining and trying to grow your in-house security team is time-consuming, expensive and complicated.
- Proactivity. A managed security as a service provider typically offers 24/7/365 monitoring and threat detection. This proactive vigilance keeps organizations on top of threats and increases the speed of their security response.
- Compliance. Managed security as a service teams keep you in compliance with security regulations and standards, such as PCI DSS and HIPAA.
- Flexibility. Outsourcing IT security helps your IT teams stay focused on core business objectives without worrying about the security of their infrastructure.
- Risk management. A managed security as a service company is better equipped to manage and mitigate cyber security risks. These firms have the resources and expertise to detect and respond to security breaches quickly.
- Time savings. Partnering with a managed security company means they take care of maintenance, patches and updates of your security infrastructure, saving you time and resources.
Outsourcing your IT security is a less costly way to lessen your risk. Managed security as a service saves you time, money and the headcount necessary to build and maintain your security infrastructure.
Why Would a Company Select Managed Security as a Service Over In-House?
Third-party outsourcing for IT security seeks to alleviate human error and protect companies from outside threats. These companies also solve the problem of limited security staffing resources. Cybersecurity Dive calls the staffing shortage “acute,” citing the talent gap as around 3.4 million workers. This talent shortage comes as cyber security threats increase in velocity and sophistication. The targets of these attacks are not just large, enterprise organizations but also small businesses and start-up organizations.
By December 2022, the losses from hacking incidents were up from 64% over the prior year in the U.S. Most of these complaints came from small businesses that reported nearly $7 billion in losses. When an organization of any size lacks the resources to turn around these numbers, a managed security service offering is a good option.
Five Reasons to Select Managed Security as A Service Over DIY IT Security
Here are some typical reasons why companies outsource their IT security.
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Continual oversight.
Does your company need more staffing power to monitor your IT architectures 24/7/365?
Selecting an outsourced partner for IT security lets you take advantage of pre-built resources to protect your data instead of building your own from scratch. Managed security firms monitor your IT architectures for active and passive threats. It’s a 24/7/365 business that requires a significant investment if you take this on in-house.
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Constant upgrades.
Is your internal IT team staying on top of the latest cybersecurity threats?
Cyber-attacks evolve quickly. It’s a full-time job to stay ahead of the latest threats. If your IT team doesn’t have time to upgrade their skills and approaches to network security constantly, the risk is exponential.
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IT talent and expertise.
How long have you been looking for a cybersecurity expert to add to your team?
Your in-house IT team is pulled in many directions every day. That makes it almost impossible for them to have the singular focus necessary to stay on top of the security game. This pressure is heightened because you can’t find the IT security talent to add to your team. In these scenarios, it makes sense to consider outsourcing the security of your data to external experts.
A managed security as a service company focuses solely on IT security. These firms have a broad knowledge of cyber security tools to help manage IT architectures. They couple their proven tools and workflows with wide-ranging expertise to improve IT security.
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Improves internal IT culture.
How is the work-life balance of your IT teams?
Security is a full-time job. Constantly monitoring SIEM data dashboards is a time-sink for your IT team, who should focus on innovating internal projects. A managed security as a service team brings fresh perspective and expertise to automate mundane tasks, redesign workflows and upgrade equipment. These resources free up your internal in-house teams to focus on strategic projects to improve and build your business.
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Lowers budgets.
How much does your company spend on IT security?
A recent Deloitte report suggests that companies spend just over 10% of their entire IT budget on security. The costs of in-house cybersecurity continue to rise. More than 50% of these costs flow to network monitoring, endpoint security and identity and access management. But managed security as a service providers offer certain economies of scale, particularly in these three areas. By spreading costs across multiple clients, hiring these firms is less than you would spend building a similar in-house service.
Red River is a leading managed security provider for businesses of all sizes. Contact us today to find out the benefits of outsourcing IT security.
Q&A
What are the benefits of using a managed security as a service company?
Managed security partners save companies money by providing a cost-effective, expert-driven and proactive approach to cybersecurity. These third-party vendors can save your company time, money and the staffing necessary to build, maintain and monitor your IT infrastructure.
How can a third-party IT security company help with compliance?
Managed security as a service providers help companies comply with security regulations and standards, including HIPAA and PCI DSS. By outsourcing security to an external resource, you can avoid costly penalties and fines for non-compliance.
