As the risk of cyberattacks mounts, organisations and businesses today are increasingly recognising the need for proper cybersecurity measures. However, it is easier said than done – implementing a system for cybersecurity requires more than a snap of the fingers.
Companies have to either engage an external cybersecurity firm to oversee their organisation’s systems, or hire people into the company to do the job. Often, it also takes training of existing staff to ensure everyone is kept updated on the best practices to follow.
Given the many choices that businesses have to make when it comes to cybersecurity, we’ve taken the liberty to compile this quick guide to help you evaluate the pros and cons of having an in-house cybersecurity team versus outsourcing it to an external vendor.
· Costs involved
Having an in-house cybersecurity team is potentially extremely costly, especially if you are starting from scratch. Firstly, you need to hire the right talents for your team, and the onus is on your company to select well-qualified and trustable professionals. A substantial budget needs to be allocated to the salaries and benefits for your cybersecurity team, as well as to the hardware, software, and any other tools or training they may require.
In this aspect, engaging an external cybersecurity team may be more viable, as they already have a ready pool of certified professionals along with all the necessary infrastructure required to do the job. This will save you a lot of time and money, allowing you to invest more in your organisation’s growth.
· Effectiveness of strategy
An in-house security team might offer more control in terms of your cybersecurity strategy, as they work specifically for your company, and should know the ins-and-outs of your systems. If the team is dedicated to cybersecurity (that is, they don’t take up other roles in the company), they can also offer a quicker response to any emergencies, and provide closer monitoring.
Outsourcing the job might not necessarily mean a less effective strategy, however. An experienced cybersecurity firm will have professionals who are well-versed in various types of systems, and likely already have hands-on experience with systems similar to yours. However, external teams mean that you don’t have a professional on-site to act as an immediate response to threats. Some cybersecurity firms do round-the-clock remote monitoring to address this. Otherwise, it is possible to experience a lag in response for some outsourced teams.
Ultimately, the aim of cybersecurity is to keep your systems and data secure from ill-intentioned cybercriminals.
A trusted in-house team will mean less risk of data or system breaches, as your company staff are the only ones who have access to your company’s information. With an outsourced cybersecurity firm, however, you are essentially handing over your company’s most sensitive information over to people you don’t know. It all boils down to how much you trust the external team.
Thus, it is of utmost importance to pick your cybersecurity vendor properly, if that’s the route you are going for. You can use client testimonials and industry certifications to judge if a vendor is reliable.
The right cybersecurity solution
There is no right or wrong answer when it comes to whether your company should hire in-house cybersecurity professionals, or engage the help of an external vendor. In some cases, it might help to do a mix of both.
Although an external vendor is more cost-effective and convenient, your company can bridge the gap by having a few trained officers on your end to take charge of the day-to-day upkeep of your information systems and the like. For a start, you can consider training some of your staff in information security with the ITIL 4 certification, or even get them to pick up some cybersecurity skills in a certified ethical hacker course in Singapore.