The Benefits of Outsourcing Cybersecurity Management

Introduction

With cybersecurity vulnerabilities more complex and increasingly avoidable, many businesses need to forge new pathways to rapidly and effectively implement cybersecurity. For FinTech startups, scaling companies, and those with sensitive data holdings, cybersecurity management is vital—but doing so without breaking the bank can be challenging. Many businesses find that outsourcing their cybersecurity management is a practical, financially feasible solution.

This guide will explore the advantages of outsourcing your cybersecurity presence so you can continue to grow, spend less, and protect yourself against ever-present threats.

Why Outsource Cybersecurity Management?

Cybersecurity is not only a technical necessity; it's a practical requirement of being able to run an effectively safe business and compliant operation. Unfortunately, many companies do not have the adequate internal resources, staffing, or expertise to give the cybersecurity efforts the proper consistent oversight and management. This is where outsourcing comes into play.

Access to a fractional team means that cybersecurity is their sole concern, and you can focus on your business and worry about everything else while there's a comfortable, trained, and professional buffer between you and ever-changing hacking techniques.

Key Benefits of Outsourcing Cybersecurity

1. Expertise and Specialized Knowledge

Cybersecurity is complex and constantly changing. With all of the evolutions in cyber threats—from ransomware to data breaches—in-house teams may never keep up with what's needed for security. However, when a company decides to outsource its cybersecurity, it has the advantage of a team of professionals who specialize in the field and remain current with all pertinent threats, changes, and next steps. Companies with audit systems are more assured of the acceptance of such measures when the in-house team is adequately trained.

A company that incorporates cybersecurity will not only have the skills and access needed to prevent threats, but this option is more cost-effective than hiring a team internally that would need the same.

2. Cost Savings

An internal team for cybersecurity may be almost as expensive as hiring a high-level security team or purchasing the necessary technology to have required safety measures done on-site. For startups or growing opportunities, it is a huge financial investment to hire security and purchase technology.

Saving costs in cybersecurity is also a possibility when you outsource. With an outside provider, you pay for only what you need—without overhead costs of a full-time, on-site staff. In addition, many outsourced cybersecurity solutions are more easily scalable, meaning adjustments can be made as your business grows.

3. Focus on Core Business Activities

As a business owner or executive, your job is to be better at what you do, have better innovation, and service better customers. While cybersecurity can be part of that equation, it's an unnecessary distraction that pulls a team away from its core competencies. Outsourcing allows you to essentially take worry about security off the table and have your focus remain on business needs.

This is even more important for small teams and startups that already operate on limited resources. Instead of further stressing an already strained staff, outsourcing gives them the ability to focus elsewhere and divert other energies into business-enhancing activities.

4. 24/7 Monitoring and Threat Response

Cyber threats don't work 9 to 5. They can strike at any time, day or night, which is why 24/7 monitoring capacity and the ability to detect breaches in real-time is essential. An outsourced cybersecurity solution comes with 24/7 services so that your company is protected at all times.

Should a breach be detected, they can immediately engage and mitigate the situation—greatly reducing the chances of a breach or disaster. For a small, in-house team without the resources to staff a security operations center (SOC) around the clock, this is not sustainable.

5. Regulatory Compliance

If your company operates in a heavily regulated space or industry, such as FinTech, it's critical that your cybersecurity efforts fall in line with regulatory compliance needs. From SOC 2 compliance to GDPR and more, outsourcing your cybersecurity efforts can help your company ensure it's compliant with all necessary efforts.

Provider compliance.

Provider compliance expertise can guide you through audits and keep your security solutions aligned with legal requirements and industry standards. Provider compliance solutions can establish and upkeep required policies to ensure you don't get extensive penalties or damage to your reputation.

6. Proactive Threat Management

Cybersecurity is not responding to breaches—it's preventing them. An outsourced cybersecurity provider focuses on proactive breach detection so loopholes and breaches never occur.

An outsourced cybersecurity provider has the cutting-edge software detection solutions, threat data and breach notifications, and professional analysts to ensure that any new threats are detected and any gaps in your security are strengthened.

7. Scalability and Flexibility

Whether you're scaling your business or your needs are changing, security adjustments also need to be made. If you're hiring more employees, adding new product lines, or exploring new markets, your cybersecurity solutions will vary. The best part about outsourcing is that it's scalable. An outsourced cybersecurity provider can alter their offerings to accommodate your changing needs so that security is always on point at every stage of business expansion.

How to Get Started with Outsourcing Cybersecurity

What are my next steps if I want to outsource? The next step is finding a provider that works with me. I want to ensure that the provider has worked with my industry and understands my key risks, and they service compliance (i.e. SOC 2, GDPR, etc.) related needs that I need to satisfy.

One such option is Bitpulse, which offers an outsourced CISO and end-to-end cybersecurity management for start-ups and scale-ups. They have the tools and software, for example, if I need compliance help or ongoing monitoring.

FINAL THOUGHTS

The advantages of outsourcing the operations of cybersecurity are obvious—better expertise than what's available in-house, cost-effective options, 24/7/365 monitoring, and peace of mind. For growing companies—and in sensitive spaces like FinTech especially—outsourcing is a great way to stay ahead of the threat and compliance curve without over-taxing available resources.

Choosing a trusted vendor for your cybersecurity needs ensures that you can focus on what you do best—growing your business—while your data, systems, and reputation are appropriately protected.

If you’re ready to take the next step in securing your business, explore Bitpulse’s cybersecurity services and find out how we can help you protect your organization and stay compliant.