Digital disruption is the new norm. Countless organizations have fallen victim to phishing cyber attacks, the most common being distributed denial of service (DDoS), and ransomware. In reality, during the first few months of 2017, the number of ransomware attacks increased by 250 percent. Data breaches also struck a record high. In the opening half of 2017, 918 data breaches occurred: a 164 percent increase from the same period in 2016. Municipal governments, universities, and private businesses have spent more than $144 million, responding to the most significant ransomware attacks of 2020 so far. This has left firms scrambling to find solutions with CyberSecurity-as-a-Service (CSaaS) being one of the more popular options. Now it’s time, one should put effort into becoming a cybersecurity engineer.
Learning of the Blog
- What is CSaaS?
- Key Benefits
- Selecting a CSaaS Provider
- Conclusion
Organizations are outsourcing their management of cybersecurity via CSaaS. Let’s learn more about it.
What is CSaaS?
CSaaS is a Cybersecurity Management outsourced model. Instead of handling it in-house where you may have limited resources and expertise, you typically outsource it to a third party vendor on a pay basis. Some dedicated services include:
- An initial consultation concerning cybersecurity
- A security essential health check
- Cybersecurity awareness among employees
- Testing on periodic penetration
- Continuous updates of antivirus
- Ensures compliance with applicable laws, regulations and industry standards
- Corporate continuity planning
The services run the gamut, and there is a level of flexibility inherent in it.
In the last few years, cybercrime has evolved dramatically. Attacks have not only become more common, but they have also become far more sophisticated. So much so that your average SMB does not have the knowledge or ability to fight off cybercrime independently.
Adding fuel to the fire is the expanding surface of the attack from a growing fraction of sensors, a burgeoning IoT market, cloud integration, etc. Merge this with the fact that many expert cybercriminals are now selling tools for monetary gain to low-level hackers for cybercrime-as-a-service (CaaS). This is why this problem has grown exponentially. So now, we see a trend where organizations choose to outsource their cybersecurity and use CSaaS.
A recent cybersecurity expert survey of over 10,000 business and IT executives found that this model is now being implemented by 62 percent of organizations. With the frequency and intensity of cyberattacks rising rapidly, you can expect even more firms to follow suit.
Key Benefits
There are various reasons why this model of cybersecurity appeals to modern businesses. Here are some of the significant benefits.
Lower Costs
The most significant advantage, perhaps, is long-term savings. Though there are fees, the often expensive overhead expenses involved in assembling an in-house team and acquiring hardware and software do not have to be addressed by companies. It is also important to note that in-house cybersecurity investment is by no means a one-off type of deal. Inevitably, your organization will need to retrain your team members, make new hires, buy new hardware and software, update, etc. As a result, you can get a toll on that quickly financially. CSaaS is an effective alternative, as it enables you to bypass many of these costs and thus reduce your financial burden.
Access to Experts in Cyber Security
Let’s face it. Not every firm has a dedicated team of cybersecurity experts who can thwart advanced attacks. Above all, SMBs are often unprepared for the daily threats they face. That’s why 43 percent of cyber-attacks are targeting SMBs deliberately. Most don’t have the larger organization’s knowledge and security infrastructure. And this frequently comes back to haunt them, considering that 60 percent of small businesses end up being out of business in six months of a cyberattack. Going along the CSaaS route gives your business direct access to cybersecurity experts to overcome myriad challenges. They provide defense across multiple industries for companies of many different sizes. They have encountered many problems and scenarios that enable them to identify threats effectively and resolve them quickly.
Less Stress on HR
In recent times, the demand for cybersecurity professionals has stepped up. But, often, these professionals are scarce. Assembling an in-house team of cybersecurity experts can be a big order even if you have the resources. But it can be next to unthinkable when money is already tight. This creates some real staffing challenges and places HR in a tricky plight. The use of CSaaS is advantageous due to the availability of 24/7. You know that your organization will have the necessary personnel to cover the workload by going through a third-party vendor. This, in turn, soothes much of the pressure for your HR team.
Scalability
Modern businesses work in a dynamic, fast-paced, global economy that’s always in flux. Thus the cybersecurity needs of an organization are likely to fluctuate over time. The great thing about the CSaaS model is its flexibility inherent in it. Companies can scale up or down as needed to ensure that they invest in cybersecurity the right amount of money without going overboard on extra features.
Free Towards Core Operations
The beautiful thing about CSaaS is that a vendor will look after you for almost all aspects of cybersecurity. This, in turn, allows you to concentrate on what is really important – growing your business and improving your end result. You can proceed confidently, knowing that cybersecurity is in good hands for your organization.
Selecting a CSaaS Provider
Here are specific pointers to remember when considering a provider:
- Experience
- Facilities
- Policies and procedures
- Cost
Conclusion
Global spending on cybersecurity increased from 2016 to 2017 by 7.6 percent to reach $90 billion. That figure is expected to swell to $113 billion by 2020, though. This illustrates just how big it has become of a priority. Cybersecurity investment is no option. It’s a necessity. While it comes at a cost, it often pales when compared with what a company will spend doing it in-house. Not to mention the costs that a cyber attack or data breach can cause. CSaaS also offers numerous advantages, typically achieved through a conventional approach. Therefore, it is something to consider moving forward for your organization. To become an efficient cybersecurity professional, you must devote time to cybersecurity training. Start your cybersecurity journey today!