The rapid growth in the digital space has led to the equal measure growth in the cyberspace, hence the increased need for specialized IT services. Market growth is driven by a growing demand for security services to monitor security events, increased usage of IoT devices in enterprises, and cloud technology. This trend has pushed the demand for cyber security service company (CSSC) to an all-time high, with the global managed security services market forecasted to reach 49.6 billion by 2027.
Cyber security is one area that requires critical attention, especially when you consider what is at stake. Businesses have lost millions to cybercriminals in addition to the loss of reputation due to hacking, malware, and other cyber-attacks. Some companies have even experienced failure due to breaches, which can include the takeover of the business by malicious parties.
Most businesses have gone digital, which does come with many benefits in today’s age of technology. Unfortunately this transition also exposes them to digital threats, such as intrusion and theft of critical business information, and these threats can have dire consequences if not dealt with properly. Given the circumstances surrounding the digital business world, it becomes clear as to why cyber security is a critical business function. In this blog, we’ll discuss the advantages of working with a cyber-security services company to help protect your network and why it’s such an important investment for your business.
Advantages of Working with a Cyber Security Services Company to Help Protect Your Network
Many businesses struggle to find a cyber security workforce, with a recent study showing a workforce gap of 3.4 million people. This lack of workforce makes cyber security service companies a great option for most businesses. Working with a CSSC means working with an expert who not only brings their own skills onboard, but also has already invested in the technology that is relevant to cyber security.
Using a Cyber Security Service Company eliminates the need for your company to hire, train, and maintain cyber security staff, which may be an expensive venture. Hiring an in-house cyber security team is generally much more expensive when compared to working with a provider. Most CSSCs have also invested in the latest and most advanced technologies, an investment that may be too pricey for an individual or company to make right away.
Periodically, organizations require specialized services from experts such as forensic specialists and malware analysts in the case of an incident. Most of these companies already have such in-house experts filling in the skills and resources gap, considering it’s their core business. Emerging trends such as remote work and decentralization have also made cyber-security service companies a preferred option.
Depending on the size of the security company, some CSSCs offer advanced services such as managed detection and response (MDR), managed IAM, managed SIEM, log management, and more. With MDR, the specialized cyber security services employ human experts and advanced technology for continuous system monitoring, threat hunting, mitigation, and remediation.
CSSCs are crucial to companies offering online payment services. Smaller companies also benefit, depending on the type of service, especially if the industry is vulnerable to cyber security attacks. If there have been security breaches within your field of work recently, you may also want to consider working with a cyber-security services company since they have the skills, in-depth knowledge, and capability to handle advanced cybersecurity needs.
Security Management and Monitoring Outside Normal Working Hours
CSSCs offer their services 24/7. Handling the same volume of work and monitoring through an in-house team may require a large team due to constant monitoring outside working hours, which can be more costly compared to outsourcing the services of a provider.
The global nature of most cyber security companies gives them a distinct advantage over businesses whose core function does not handle cyber security or technology. A CSSC will conduct vulnerability tests, early threat detection and protection, routine security scans, and other security management functions, enabling the main company and its team to focus on their core business operations. In addition to taking the lead on these tasks, a CSSC may also offer security program oversight and help with other IT-related programs in the company.
The cyber security space evolves at a very fast pace, with new cyber-attacks and threats emerging daily. Most companies do not have the latest technology and resources to keep up with these threats. That is where a company specializing in this area can step in to help. Most CSSCs are fully equipped with proper, up-to-date security tools and resources that help keep up, mitigate, and address threats and attacks as they arise. Cyber-attack incidents require substantial resources if detected too late, especially if the company’s systems have been compromised.
Most cyber security companies support multiple clients using the same solution. Spreading the cost across several clients makes them a more affordable option compared to hiring an in-house team.
Compliance with Rules and Regulations
CSSCs can easily generate reports to demonstrate compliance in the event of an incident and during audits. Compliance involves regularly checking and monitoring the organization’s adherence to policies and procedures related to data security. Companies must prove compliance with rules and regulations governing electronic storage and transmission, including securely transferring data.
While it’s important to engage the services of a managed service provider (MSP), these services are broad and may not meet your exact needs. MSP is broad and will only offer IT services and infrastructure management broadly, while cyber-security services companies, on the other hand, offer more specialized security services.
Most cyber-security services companies manage security processes from an off-site location with minimal intrusion into business operations. They also perform administrative tasks, audits, and maintenance, leaving the client to focus on oversight and their core business.
Why Working with a Cybersecurity Company is an Important Investment for Your Business?
A cyber security services company offers exclusive services with a narrower scope. A managed service provider (MSP), on the other hand, provides security as one of the many services. You want to work with a provider who handles comprehensive cyber security rather than a generalist. Below, we explore the benefits of working with a cyber-security services company as an investment for your business.
Comprehensive Cyber Security Technology
A good cyber security company offers comprehensive, but easy-to-manage cyber security technology that is easy to operate, maintain, and configure. Most of these security companies are not only fully equipped with newer gear, but also keep pace with the ever-evolving cybersecurity space so quality service should be expected.
A premium provider delivers comprehensive protection, including baseline system monitoring and alerting, threat detection, end-point protection, incidence response, and security management. Other services include identity, cloud, data security protection, automated protection, and more.
Most CSSCs are scalable and grow with their clients. This involves the integration of additional functionalities and support for zero-trust deployment. When clients expand their business, it’s easy to add new users with no additional licensing.
Having multiple clients allows cyber security companies to monitor threats across multiple clients and adapt to security threats better. An attack on one client gives the cyber security company experience which makes it easy to adapt and protect other clients.
Continuous System Monitoring and System Protection
Most CSSCs provide 24/7 security monitoring with alerts when suspicious activity occurs. A dedicated provider offers a self-service portal, cloud protection across major networks, mitigation, and immediate detection of threats to ensure the system is closely monitored. They also provide a system that is easy to configure, deploy, and maintain for intelligence and threat detection.
A cyber security company offers preventative solutions such as firewalls, web gateways, antivirus, and many other tools such as VPNs and RDPs to limit access and system vulnerabilities. They also monitor and identify threats across the client’s systems, endpoints, and workload.
CSSCs plan and test scenarios, as this helps develop intensive response procedures. Tabletop exercises and penetration testing, also referred to as ethical hacking, give an organization a realistic idea of practical case scenarios of how a security breach can occur and how it can be mitigated or solved with minimal or no negative effects. Pen testing involves a real case scenario cyber-attack to expose vulnerability and cyber security capabilities.
Security Monitoring and Alerts
A cyber security provider will offer basic event monitoring and comprehensive management, depending on the service level agreement. Most providers have a security operations center (SOC) where they monitor the client’s systems 24 /7, hunt threats, and offer other related services such as threat intelligence.
Threat Hunting and Vulnerability Management
Threat hunting helps identify attackers that may have penetrated the initial endpoint security defenses and ongoing threats. A good provider will regularly identify, assess, report, manage, and remedy all vulnerabilities across the systems. There are various tools that detect vulnerabilities and use different processes to patch them.
A reliable company manages firewalls that monitor and filter incoming and outgoing traffic. Firewalls block malware and other attacks by seamlessly detecting outside attacks on a client’s network.
Virtual Private Network (VPN)
A good CSSC can establish a private VPN that protects business operations through strict control over access to the network. Some companies go to the extent of blocking access from certain parts of the world, protecting their client’s devices and networks from attacks.
Meeting Compliance Standards by Ensuring Systems are Up-to-date
Cyber security is an ever-evolving field, hence the need to keep pace with the evolving techniques and tactics. A CSSC keeps tabs on compliance standards and also ensures systems are up to date.
Having your business or company online puts you on the front line, as it exposes your company to more opportunities. However, this comes with numerous security risks from hackers, malware, viruses, and other vices trying to access your system for different reasons. The good news is that all these can be mitigated with the help of a reliable cyber-security services company.
BlueSteel Can Help
Here at BlueSteel Cybersecurity we aim to help our customers minimize risk and strive for the top level of security.
Contact us to find out how we can help make your organization more secure.