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4 Indicators You're Ready to Utilize a Managed Security Service for Cybersecurity

12/21/2017  |  By: Jason Riddle, CISSP, President, Information Security

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The need to enhance cybersecurity is a given today for almost every healthcare organization, financial institution, legal firm, manufacturing business, retail business, or major corporation. The constant news headlines containing “ransomware,” “cyber crime,” “data breach” has made security top of mind for business leaders — prompting them to start thinking more seriously about their cybersecurity efforts and how to protect their organization against a potential threat.

Many businesses have turned to IT security firms to establish cybersecurity programs or manage their security through a managed security service provider (MSSP). In fact, 41 percent of companies completely outsourced security monitoring according to a recent survey by EY.

But how do you know if you’re ready to partner with third-party vendor to manage your cybersecurity program? That’s the question we want to help you answer today.

4 Indicators You’re Ready to Utilize a Managed Security Service

Here are four indicators that working with a managed security service provider might be the best way to ensure your company is protected against the future cyber threats:

1. Security isn't a line item in your budget.

Whether you’re just starting an IT department or looking to expand your efforts, hiring internal staff to manage your cybersecurity program can be expensive. Working with a managed security service provider helps solve many of the budgeting issues related to cybersecurity because it’s based on a flat monthly subscription fee, and often there are no additional hardware or software costs.

2. Your organization’s digital data footprint is growing.

Another benefit is that partnering with a managed security service provider is scalable with your business.  In a world where the number of enterprise businesses storing and using sensitive data in the cloud is up 54 percent in the past year, having a scalable cybersecurity solution is essential.  

By 2020 the world will need to defend 50 times more data than it does today. Whether you like it or not, your digital footprint will likely grow significantly in the next two years. Partnering with a managed security service provider is an ideal way to ensure protection as your business grows.

3. You tend to be more reactive to cyber threats rather than proactive in preventing them.

The cybersecurity landscape is constantly changing, with new threats emerging every day. Ensuring your company is protected requires a proactive approach; making sure all of your systems and security patches are up to date and that your technical controls are working properly. However, many internal teams don’t have the time or resources to keep up with the changes.

A MSSP can provide the information you need to proactively address potential threats rather than constantly responding to issues as they happen. This type of relationship allows your internal team to focus on running your business and delegates the more mundane and labor-intensive activities to a service provider.

4. Things go awry, and you don't know where to turn.

If, by chance, you are the target of a cyber attack, acting quickly is essential. Although while time is of the essence, it can be difficult to know the best way to respond to an attack. Should you shut down affected systems or leave them up to gather more information on the attack? Either can be appropriate, depending on the nature of the incident.

Working with a managed security service provider allows you to benefit from the combined experience they have in dealing with the issues you’re facing. Our team has spent thousands of hours addressing cybersecurity threats and breaches, and we bring that knowledge and experience to every client we serve.

You may not necessarily need an outside firm to provide a full turnkey solution. However, if these four ideas resonate with you, partnering with a managed security service provider might be the best option for your business.

Click here to connect with our team and learn if LBMC’s managed security services can provide the peace of mind you need for protecting your business.