Cyber security managed services or how managed security services reduce the cybersecurity skills gaps.
A July 2020 report showed that 70% of companies surveyed said they were dealing with a cybersecurity skills shortage. Up to 93% of companies reported that skills shortages either remained the same or got worse.
Advanced network security technology has helped many organizations protect themselves from the increasingly serious threats of network attacks. However, despite the development of modern technology, the need for manual input is still crucial. A collaborative approach to cyber security has become the key to the widespread and sustained protection of cybercriminals.
So how can organizations implement this collaborative approach to achieve cyber security?
How are managed security solutions considered? Let’s take a closer look.
Demand for digital security skillsets
In the digital age, companies use vast amounts of information to create better products, target new markets, strengthen collaboration, and reach new heights of success. However, if there are insufficient measures to prevent these attacks, companies are vulnerable to cyber threats.
Cybercriminals are always looking for new opportunities that can be exploited in the digital space. This is most evident during the COVID-19 global health crisis, where cyberattacks have surged by 400% since the pandemic began.
Using widespread chaos and destruction, malicious actors worldwide have launched attacks on organizations in the public and private sectors. The healthcare industry has been hit particularly hard: In 2020, the U.S. Department of Health and Human Services (HHS) reported 533 unprotected protected health information breaches, affecting 500 or more people.
But before the COVID-19 crisis, cyber-attacks and hacker attacks had grown at an alarming rate. The sheer number of attacks, coupled with increasingly sophisticated hackers becoming more and more determined, means that vulnerabilities may go undiscovered in the months before they are discovered. The need for a strong I.T. infrastructure and network security incident management has never been so urgent.
Growing demand for cybersecurity skills
According to the 2019 Cybersecurity Workforce Research, the cybersecurity workforce gap is about 500,000 in the United States alone. This shows that a 62% increase is needed to meet the online labor demand of U.S. companies fully.
Since then, the demand for network professionals has only increased. You can find numerous cybersecurity expert job vacancies almost anywhere, from small startups to multinational companies to large listed companies.
Solution: Managed Cyber Security Service
The managed network security service model provides a unique solution to meet the great demand for network security professionals. Managed security service providers (MSSPs) act as a much-needed source of technical expertise that can help organizations minimize the risk of cyberattacks.
Here are some of the benefits of hosting I.T. security services:
Improve organizational efficiency
When your internal I.T. team no longer needs to track and manually resolve each alert or security threat, they will have more time and energy to focus on other aspects of their work. They will better recruit new employees, provide training courses on cyber security awareness, and provide daily support.
Managed security service providers will help organizations manage security risks that threaten business continuity. Cyber security experts will analyze the company, prioritize high-level threats, and recommend the best course of action to prevent these risks.
When choosing managed security services, you substantially reduce the need for on-site experts. For example, a thorough cyber security review of your organization’s needs may require a domain expert, a SIEM expert, and a firewall expert. Choosing a managed service, you don’t need these professionals because you can access all these resources through an I.T. security consulting company.
The cost of hiring, retaining, and managing your internal I.T. staff is high. It takes away valuable company resources that can be used for core business operations. Hosting solutions can provide you with many network security professionals, and the cost is only a small part of hiring and retaining expensive expertise.
When attackers have the latest technology and automation innovations, you should have the same level of expertise and tools to surpass them-and managed network security services are just for you. Once your processes are supported by powerful, reliable, and versatile cyber security automation implemented by security experts, you will no longer worry about cyber criminals threatening business continuity.
The role of top management
Cyber risk management is escalating management priority-but it requires high-level initiative. In the next few years, top management will need to play an important role in adopting cybersecurity programs, which will benefit the entire organization.
Although network security seems to be an isolated issue, it affects every aspect of the business. For example, CEOs and CFOs will be happy to discover that cybersecurity proficiency is directly related to reducing downtime due to technical failures and interruptions. The shortest downtime will reduce the risk of revenue loss due to violations and help avoid penalties for violations.
From the Chief Marketing Officer (CMO), having a professional cyber security consultant can help a company improve its reputation as a trusted partner and build stronger partnerships with customers and customers.
Business executives communicate with each other.
IBM/Ponemon reported in 2020 that the average cost of a data breach was US$3.86 million; the focus of network security incident management must first implement control measures to prevent attacks, rather than scrambling to find and repair after attack occur. Although the internal network security team is difficult to purchase and the retention cost is high, it is easier to achieve information security and network security goals through managed network security services.
In conclusion, businesses require security services from their ISP and MSSP to reduce costs. If you don’t need to hire expensive IT professionals or spend more money on antivirus programs, you may have potentially saved a lot of money. You may still want to purchase a program to protect against viruses and phishing on both sides. Still, in all likelihood, you will have internet and network access from an MSSP that already provides such security as is obvious. In this scenario, the responsibility for keeping up with the latest versions and updates of the security software rests with the MSSP.