Must-Follow 8 Best Practices for Outsourcing Cybersecurity Services

By following the best practices, you can find the right partner who adds a steel strength to your IT infrastructure.  Our blog post talks about those practices including things you should outsource and avoid.  

Before That, A Quick Look at Shocking Stats on Cybersecurity

• A single ransomware attack can cost $26,000 to your business, as per Verizon 2023 Data Breach Investigations Report.
• The cost of cyberattacks will bring damage worth over 400 billion US dollars in 2024.
• According to IBM, the world is at the loss of more than 4 million cybersecurity experts.
• 24% of all breaches are ransomware attacks.
• According to PwC’s 2023 survey, damage done to the healthcare industry was 25% more than the average global cost of cyberattacks.
• Companies worth $1 billion loses $1.9 million due to cyberattacks.
• As per Statista, the United States is third in the world to lose sensitive data. 
• It also says, 3 out of 4 companies in the U.S. are at risk of material cyberattack.
• By 2028, cybercrime costs will reach more than $1 trillion U.S. dollars.

These figures are enough to bring any business to the reality that cyberattacks will not slow down at any cost. Joining hands with a reputable cybersecurity provider is the right way to ensure the safety of your business, money, customers, and everything in between.

Also Read: Zero Trust Security Model: A Guide to Strengthening Your Cybersecurity

Best Practices to Outsource Cybersecurity Services

1. Examine Your Needs

Before diving straight into outsourcing, examine your needs by asking these questions:

• What types of data do you store?
• What industry regulations apply to your business?
• What is your current cybersecurity posture?
• What is your budget?

Once you have a firm grasp of your needs, you can start researching potential cybersecurity providers.

2. Decide the Services You Want

Choosing a service provider starts with a simple question- what exactly you are looking for? Do you want to secure your IT network, or do you need vulnerability management services? Cybersecurity services are broad and apply to your data, network, applications, and so on. Decide which one fits your needs.

3. Check for Red Flags

Outsourcing an amateur will put your business at great risk. You might be dealing with the wrong one if

• They cannot provide you with enough records of their success.
• They don’t have any advocates for their expertise.
• They are not transparent about their working methodologies, certifications, and frameworks they use.
• They don’t regularly follow the cybersecurity measures for protecting their own business.

To check these red flags, you should do thorough background research on a cybersecurity service provider. This will take some time but it's important. After all, it’s about your business security.

4. Look for Certifications

Every business that is into cybersecurity must have a few standard certifications. They show their expertise and commitment to meet industry standards. What to look for? Check whether they are ISO 27001 certified or not.

Do they have SOC2, CISSP (Certified Information Systems Security Professional), CEH(Certified Ethical Hackers), GDPR, HIPAA, PCI DSS, and other important certifications? Knowing your chosen cybersecurity service provider has these certificates will give you peace of mind.

5. Check Their Effectiveness

You can minimize the risk of outsourcing wrong cybersecurity professionals by assessing their incident response time. The shorter the incident response time, the faster they are in detecting, analyzing, and responding to a cyberattack.  

6. Check Their Operating Model

Cyberattacks can happen anytime, day or night, doesn’t matter. A managed service provider who works within a strict time zone is not the right fit. Look for someone who can protect your business and IT around the clock.

7. Check Their Compliance Knowledge

One of the benefits of outsourcing cybersecurity professionals is their good grasp of compliance and regulatory requirements. However, if they have limited knowledge or do not stay updated with the latest compliance, these benefits turn quickly into disadvantages. So, must check their compliance knowledge to operate safely in your industry.  

8. Consider Data Security

To find the potential partners, here are some key points to consider regarding data security:

• Where will your data be stored?
• What data encryption methods are used?
• What are their access control procedures?
• How do they handle data breaches and communicate with you in the event of a security breach?

These are a few best practices for outsourcing cybersecurity services.However, you should not give all the keys to third-party security vendors. Here are a few core functions that should remain under your direct control.

What to Keep In-House

• The overall responsibility for your cybersecurity posture should remain with your internal team.
• The security of your core applications including who can access and how much they can access should be your decision.  
• Your most critical data should be managed entirely in-house.

Conclusion

There is a global skill shortage of cybersecurity experts. Growing cyberattacks make businesses more concerned about their data. By hiring or outsourcing cybersecurity services, businesses can reduce the risk of cyberattacks. Remember, it is a shared responsibility of the internal teams of your business so proper training and security awareness are necessary. By working together with your team and a reputed service provider, you can create a steel shield for your business.

Softude is an ISO 27001-certified company. We offer advanced cybersecurity solutions and services to diverse industries. Our security experts are well aware of industry standards and compliance such as HIPAA. Frameworks and certifications like CCNA, CEH, NIST cybersecurity framework, OWASP/ASVS, and PCI DSS, make us a trustworthy partner for businesses worldwide.