Cybersecurity Monitoring

The Value of Outsourcing Cybersecurity Monitoring

 

 

Joe Hoosech | February 11th, 2023

To thrive in a competitive market, particularly when economic predictability constantly fluctuates, businesses must find opportunities that provide them with a competitive advantage. There is one area, however, where most businesses can gain immediate value: outsourcing cybersecurity monitoring. Given the immense challenges facing most businesses—from labor shortages to inflation to supply chain disruptions—identifying and capturing a significant advantage are not easy endeavors. The value in doing so is not exclusively monetary but has proven to absolutely relieve financial pressure from those entities who have selected an ideal cybersecurity company offering fully managed cybersecurity monitoring and remediation services.

The Benefits of Outsourcing Cybersecurity Monitoring

The best-case scenario with your business right now is you are flush with cash and want to build out your own security operations center (SOC) to ensure absolute fluidity between cybersecurity monitoring and core business practices. While ideal, this is neither easily nor cheaply done: a low-end annual cost estimate to build and operate a 24/7/365 SOC ranges between $1-2 million, depending on the size of your business and the demands of your customers. The fact of the matter, however, is most businesses are not able to bring every operational component in-house, especially with an optimized level of effectiveness.

For those businesses interested in around-the-clock cybersecurity monitoring—let’s be frank, this should include every business regardless of size or industry—there are numerous considerations, all of which lead to heightened operational value. When undertaking the responsibilities of a fully managed SOC, the basic infrastructure and toolsets needed to maintain robust security become the purview of your newly acquired team, which is becoming increasingly difficult to assemble. By outsourcing, the cybersecurity company should include the toolset (Security Stack) their team feels protects you and they are prepared to monitor around the clock on your behalf. The financial benefit here is great, but the opportunity for scalability and growth is more immense.

Any cybersecurity company worth its weight has a team of certified and experienced engineers and analysts who immediately go to work for you without landing on your payroll. Not only does this model provide significant cost savings, but the challenges of staffing currently facing the tech industry become less concerning. As a cybersecurity company, we have increased leverage to recruit and hire the team to support our mutual growth. Because of this, you receive the added value of time back for yourself and your in-house team to put toward enhancing and expanding your core business operations. The value of additional time cannot be quantified. A true cybersecurity monitoring company will have the team and infrastructure in place to remediate the cyber threat before it turns into a devastating attack. Response efficiency, the elimination of downtime, and risk mitigation capture extraordinary value.

The enhanced capabilities of your team and your business do not stop when outsourcing cybersecurity monitoring. Immediately upon initiating an alliance with SpearTip, you gain access to a team replete with specialized skills, deep insight into the constantly evolving threat landscape, and extensive experience supported by numerous industry certifications. We help our clients navigate and exceed the complexities of legal and industry-specific compliance requirements without asking you to follow the news for the latest developments. Your cybersecurity company should be eager to do all this and more on your behalf because ultimately, our value derives from optimizing yours.

 

Content updated February 9, 2024

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Frequently Asked Questions

What are the potential risks or drawbacks of outsourcing cybersecurity monitoring?

One potential risk of outsourcing cybersecurity monitoring is the possibility of a breach of confidentiality if sensitive data is shared with the third-party provider. There is also a risk of miscommunication or misunderstanding between the outsourcing provider and the organization, which can lead to missed threats or incorrect responses. Finally, if the outsourcing provider experiences a security breach themselves, it could put the organization's data at risk.

How does outsourcing cybersecurity monitoring affect the level of control and visibility an organization has over their own security infrastructure?

Outsourcing cybersecurity monitoring can affect the level of control and visibility an organization has over their own security infrastructure. When outsourcing, the organization is relying on the provider to detect and respond to threats, which may not be aligned with the organization's own security objectives. Additionally, the outsourcing provider may not have access to all of the organization's data or systems, which could limit their ability to detect threats.

Are there any legal or compliance considerations that need to be addressed when outsourcing cybersecurity monitoring?

There are several legal and compliance considerations that need to be addressed when outsourcing cybersecurity monitoring. For example, organizations need to ensure that the outsourcing provider is compliant with any relevant data protection regulations, such as GDPR or HIPAA. Additionally, the organization needs to ensure that they have appropriate contractual arrangements in place with the outsourcing provider to ensure that they are meeting their obligations and responsibilities. Finally, the organization needs to ensure that they have appropriate processes in place to manage any incidents or breaches that may occur, including reporting requirements and incident response procedures.

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