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The Benefits of Managed Cybersecurity

The Benefits of Managed Cybersecurity

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Hwei Oh
10/09/2023
4 min read
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Growing strain on IT departments means organizations need a better solution to manage their cybersecurity needs.

IT departments are overworked. A recent survey published in Security Magazine found that 62% of IT Leaders frequently work on holidays or weekends, and almost 50% have needed to work through the night at least once.

Many IT leaders also lack the specific cybersecurity knowledge necessary to put the right kind of security in place. They may only invest in preventative options and may not have any detection or response tools that can help reduce the risk of an attack or improve remediation efforts if an attack does occur.

Clearly, these departments need some help, especially on the security front.

To better address their needs, organizations should look to invest in managed security, a service that consolidates all the complexities involved in strengthening a company’s security posture.

Both large and small companies can benefit from managed security. Let’s take a look at how:

How managed security solves modern cybersecurity challenges

Managed security is hiring a third-party provider to manage all aspects of your cybersecurity needs, therefore freeing you to focus on your core business.

A recent survey of security decision-makers sheds light on the fact that cybersecurity is a constantly evolving subject requiring security professionals to prioritize staying on top of the latest developments. Unfortunately, the study also shows that security leaders have placed too much confidence in their existing teams, not realizing that those teams might be inadequate to face the ever-growing sophistication of cybersecurity threats.

The task of fighting security threats has grown to herculean proportions and requires a large cybersecurity team that costs more than many SMBs can realistically afford. By bringing in a managed security provider, companies can either give existing teams the support they need to meet the growing demands or establish a fully outsourced team when no in-house team exists.

What managed security offers to organizations

Managed security providers can provide comprehensive security services at lower rates because of the economies of scale. The managed security program provider’s primary function is security, so their priority is to invest in highly skilled security personnel who are continuously trained and updated with the most relevant skills to combat new and evolving threats. This continuing education enables them to provide key cybersecurity guidance to their clients.

Managed security uses a combination of sophisticated tools to find efficiencies in data consolidation and analysis, allowing them to keep a human touch for the right interpretation and intervention. Automated tools can only go so far in keeping your company fully protected, and a human element allows for adaptation and quality assurance.

The combination of these factors leads to a solution that provides:

  • Round-the-clock protection.
  • Reduced costs.
  • Improved detection and remediation.
  • Faster response to incidents.

Managed security = better security = more willing investors and customers

No one can guarantee that you won’t get hacked, but the best way to protect yourself against the risks and headaches associated with a hack is to invest in the core security services that make your company a less attractive target. A managed security provider consolidates all the essential cybersecurity services under one umbrella.

Having all the major aspects of your cybersecurity taken care of will increase confidence in investors and customers:

Investors consider cybersecurity to be the greatest threat to businesses today. Cyberattacks can be incredibly costly for an organization, and the recent surge of attacks means that investors want to ensure their investments are protected from this kind of loss.

The same benefits extend to your reputation. Customers will have more trust in a company that takes securing personal data seriously.

Managed security and cyber insurance

Because of the huge increase in cybersecurity threats, it’s become more challenging for SMBs to find affordable cyber insurance.

Managed security providers can have agreements with cyber insurance companies that provide you with cyber insurance at lower premiums. This is because cyber insurance companies know there’s a much lower chance of your company being breached if you’ve partnered with a managed security provider. It’s simple economics; fewer security incidents equal fewer claims the insurance company has to pay.

Single-vendor solution

Finally, managed security eliminates the plethora of vendors required to fully protect your organization. Managed security programs bring all solutions under one roof. You have only a single invoice at the end of the month and a single point of contact for all your cybersecurity questions. If a security event occurs, you only need to call one person; this simplifies and accelerates both the response and the remediation efforts.

How to find the right managed security provider

Moving to managed security requires less investment and commitment than finding expert cybersecurity personnel, especially considering the cybersecurity labor shortage.

When looking for a managed security provider, try to find one that offers all of the following:

  • Simple pricing.
  • Easy-to-understand services.
  • Comprehensive cybersecurity coverage.
  • Value-add services such as discounted cyber insurance approval.
  • Dedicated customer support.

To learn more about how SolCyber matches up against the above points, check out our services page.

FAQs

Why Do Organizations Need Managed Cybersecurity?

Organizations require managed security due to the strain on IT departments, with overworked staff and a lack of specialized cybersecurity knowledge. Managed security services provide dedicated expertise and support to address these challenges effectively.

How Does Managed Security Solve Modern Cybersecurity Challenges?

Managed security offers round-the-clock protection, reduces costs, enhances detection and remediation, and provides faster incident response. It tackles modern cybersecurity challenges by consolidating comprehensive cybersecurity services into one solution.

What Does Managed Security Offer to Organizations in Terms of Investor and Customer Confidence?

Managed security not only protects against cyber threats but also increases investor confidence by safeguarding investments. Additionally, it builds trust with customers who value the security of their personal data. Some managed security providers may even offer agreements with cyber insurance companies, resulting in lower insurance premiums and simplifying the insurance process for organizations.

Avatar photo
Hwei Oh
10/09/2023
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