Today’s businesses are up against an avalanche of security threats, and these threats are evolving at a rapid pace. In-house IT teams can fast find themselves in over their heads as they attempt to protect their business’s most valuable asset – data – against an increasingly sophisticated onslaught of cybercrime.
Safeguarding data has become more time-consuming and more expensive. In the US, outlays for cybersecurity have jumped significantly over the last few years, from $40 billion in 2013 to $66 billion in 2018.
In light of this, many business owners have decided to outsource their IT security to a Managed Services Provider (MSP).
In this article, we’ll examine the true pros and cons of outsourcing IT security. How could your business benefit? And what are some of the major drawbacks? Let’s get started.
The pros of outsourcing your security
There are a whole host of benefits that come with outsourcing services like IT security. Here are three to get you started.
1. Reduced IT costs
When you work with a trusted MSP, you may experience a significant reduction in operating expenses. The cost of your security audit, as well as the applications, appliances, and personnel, are spread across the MSP’s entire customer base. What’s more, you only pay for the services you need when you need them, making it an excellent option for those with a limited budget.
In contrast, funding in-house solutions can require substantial investments in software and infrastructure. And that’s not to mention the cost of supporting part- or full-time employees.
2. Access to the latest technology
“Ever-evolving threats generate an infinite number of vulnerabilities that enterprises must attempt to defend.” – Forbes
It’s not enough to install anti-virus software on your computer and call it a day. Hackers are more sophisticated than that, and if you’re going to stop them in their tracks, you need to cover all of your bases.
MSPs live and breathe security – it’s what they do all day, every day. Leading providers are committed to keeping up with the latest trends, innovations, and best practices.
3. Focus on core operations
When you outsource security, your team will have more time and energy to work on core business operations. In-house employees can use their resources to benefit other areas of your business; areas that can improve customer experience, enhance your product or service, and push your business toward its next stage of growth.
The cons of outsourcing your security
As with most things in life, the good and bad come hand-in-hand. Here are just two disadvantages to consider before you jump in and outsource.
1. Less control
When you hand over the security reins to an MSP, you lose a pretty substantial degree of control. If your business has a particular interest in holding full control over security and related processes, outsourcing may not be the best-fit solution.
2. Trust is a key ingredient
What if the MSP’s team doesn’t know what they are doing? What if they miss a critical breach? What if they undertake malicious activity after I give them access to my business network?
These questions and concerns are all normal. Handing over the credentials of your business’s most crucial accounts can feel plain wrong. But if you don’t think you can ever trust an MSP – no matter how good of a reputation they have – outsourcing could be more of a headache than it’s worth.