With the coronavirus outbreak, the number of cyber-attacks has increased significantly. The lack of cyber security measures affected all sizes of businesses. The breaches and data leaks have been struggling for everyone during and after the pandemic. Insufficient resources to protect network systems had a notable impact, especially on small and medium-sized businesses.
Moreover, with the increasing number of liabilities due to regulatory compliance requirements, the value of cyber security enhanced. The reason behind these struggles is generally the cost of cyber security measures. It is considered that preventing sophisticated cyberattacks is overpriced. However, by outsourcing only necessary functions, all sizes of businesses can access comprehensive protection without compromising security or paying the full cost.
The practice of assigning a specific task to a third party is becoming very common. However, it is not as simple as it sounds. Companies may encounter numerous metrics and aspects that should take into account. Planning and implementing these can be difficult especially when a company decides to outsource tech areas. So, in today’s article, we will talk about the best practices of outsourcing and how companies can benefit from it.
What is Outsourcing?
Outsourcing is the process of recruiting experts, groups, or companies from outside the enterprise to execute specific tasks. Outsourcing may encompass a broad spectrum of tasks, sectors, and specialties. Outsourcing is an advantageous yet risky practice. Nevertheless, it lets companies focus on what they do best and get help from experts for other tasks. As a term, outsourcing roots back to the ’90s and gained popularity ever since.
Cyber Security Outsourcing
Simply put, cyber security outsourcing is the process of collaborating with third-party specialists and experts to safeguard a company’s network infrastructure. Outsourced cyber security might fall into several categories.
Identity and access management, application security, insider threat detection, security operations, vulnerability management, physical security, and awareness education are among those categories. Cybersecurity outsourcing services mostly consist of on-premise technical assistance, system engineering, vulnerability scanning, security monitoring, and data analysis.
Cyber Security Outsourcing Best Practices
Outsourcing is seen as a highly beneficial practice. It offers a variety of advantages from better focus to reducing costs. However, it can be risky sometimes. Sharing a part of your network system with a third party can go wrong. That is why you need good planning, vision, and analysis on how to do it. Here are some of the best practices you should note before and after outsourcing cyber security features.
1- Deciding Which Features to Outsource
Before outsourcing any feature it is important to have a clear vision of what should be outsourced. So, you should carefully analyze the features and find the missing parts. This process can save you money and time. If you don’t have a clear vision, it may result in outsourcing more cyber security features than you need which may be overpriced for your company. On the other hand, if you fail to outsource necessary features, it may compromise your network security and you may leave your doors open to breaches. However, if you see what you need clearly, you can find the best vendor for your needs and that is what should be accomplished as the second step.
2- Finding the Right Vendor
After you figure out what you need, the second step is to find vendors that match your needs. Conducting comprehensive research is probably the best way to start. After the research, you will be able to distinguish between unprofessional and professional offerings. This way, you may identify a reliable third party, which is especially important if you intend to collaborate with them on a long-term basis. For example, if you need to outsource training and awareness programs, be sure that the potential partner has the knowledge and experience about this feature. Ask as many questions as possible regarding the subject. Because it is important to list everything mentioned and create a contract regarding those matters.
3- Check if Compliance Requirements Align with Your Needs
Many Governance, Risk, and Compliance companies, including some of the largest, address certain IT compliance obligations but not others. Check the provider’s references to ensure that they not only provide all of the compliance services you require but also have expertise doing those specific audits.
4- Get References
Always request references and follow up with them even if a vendor claims to be entirely valid and expert-in-field. Also, references mean a lot for cyber security companies, and professional cyber security companies are always pleased to give reliable references. Make sure you make calls and check the internet to see reviews and complaints.
5- Note Everything and Double-Check Each Term
Lastly, make sure that everything is correctly recorded. Every agreement and task must be written down and retained for the duration of the cooperation. A third-party team’s performance must be specified in the contract. By adhering to these best practices, companies may reap the benefits of outsourcing while minimizing risks and cultivating profitable, long-term partnerships with reputable cyber security providers.
Outsourcing can be an advantageous practice, especially for small and medium-sized businesses. By outsourcing specific features, a company may focus on its fields while getting high-quality services from others. Also, cyber security outsourcing can be more profitable than hiring and establishing large IT teams. Outsourcing even a portion of your cyber security operations, such as compliance, might result in considerable cost savings. As long as you keep the best practices listed above in mind, you can reduce the risks and enjoy the benefits of this practice.