Cybersecurity is a critical issue for modern businesses of all sizes. Failing to protect your network and data against attacks from cybercriminals can cost millions in financial losses—an average of $3.9 million according to Ponemon’s 2019 Cost of a Data Breach study.
Worse, a major data security breach can cost your business customers as they lose faith in your company’s ability to keep their sensitive information safe.
Yet, as important as cybersecurity is for prolonged success in any industry, many companies struggle to manage their network security strategy effectively. There are many challenges to managing cybersecurity, including:
The High Cost of Hiring In-House Cybersecurity Specialists
There is a shortage of trained cybersecurity specialists on the market compared to the demand for services—driving high wages. As of November 2019, the average annual salary (not including bonuses) for a cybersecurity engineer as reported by PayScale was $94,929. Considering that an entire team of such personnel would be required to effectively manage a company’s network security architecture, the cost of maintaining a cybersecurity team can quickly become prohibitive.
Why are wages so high? One reason is because cybersecurity skills are in high demand, and security experts know it. When you have to compete with offers from dozens of other employers, cybersecurity engineers are free to take their pick of the proverbial litter.
Keeping Current On Cybersecurity Knowledge
Cyber threats are constantly evolving. Hackers across the globe create new types of cyberattacks every day, or adapt old attack methods to bypass defenses which would once work to stop them. Keeping current on cybersecurity knowledge is a must for protecting your network—but it requires constant research and effort.
In fact, this is a full-time job, and one of the reasons why finding qualified cybersecurity experts is so difficult (and expensive). So, it’s important to have a dedicated cybersecurity expert on hand—whether they’re a full-time member of your company, or an outsourced cybersecurity provider.
Responding to Cyber Threats 24/7
Hackers don’t work 9-to-5, they’re up and making their attacks at all hours of the day (and night). So, cybersecurity teams need to be ready to go 24/7. To do this effectively in-house, your company would need to have at least three shifts of cybersecurity team members—with each shift covering every security specialty necessary to use all of your network security tools. Otherwise, speed of response will be limited to the next time your team clocks in (potentially giving attackers hours to do whatever they want).
There are a couple of ways to overcome this challenge—hopefully without breaking the bank. One is to use automated cybersecurity tools to enact immediate responses to threats as soon as they’re detected. These automated tools can help to prevent attackers from achieving their own goals while protecting your network.
Another way to enable around-the-clock response is to use an outsourced cybersecurity team. This helps to greatly expand your network security team’s resources for a fraction of the cost of hiring them internally. However, when partnering with a managed security service provider, it’s important to choose the right one.
Matching Cybersecurity Tools to Your Security Needs
Many organizations confuse having the latest cybersecurity tools with having the best security tools for their needs. Treating cybersecurity as a device instead of a framework that combines devices, processes, and ongoing management effort can create a false sense of security without actually increasing protection.
To get the most out of your network security program, it’s vital for you to consider each security device and how it integrates with your needs and existing workflows. Otherwise, you could end up creating more work for yourself.
Do you need help overcoming the challenges of managing cybersecurity? Reach out to the Compuquip team for help and advice!
