A recent study by Cybersecurity ventures tells us that cybercrime damages will cost the world $6 trillion annually by 2021. (Source: Cybersecurity Ventures). Not only that, cyber attacks are becoming much more sophisticated and costly when it comes to lost revenue and damage to the corporate brand. In the era of the dark web, many viruses can even lay dormant for months, waiting and learning corporate networks from inside the firewall. These malicious viruses mask their behaviors to avoid raising red flags on security tools and to professionals while looking for vulnerabilities and ‘holes’ in the corporate network. This was the case with the Equifax data breach. For protection against damaging data breaches and professional cyber criminals, enterprises are looking for new and improved ways to secure enterprise data and boost network security defenses.
Two areas gaining traction are companies that provide and manage supporting infrastructure and security services. They are known as Security as a service (SaaS) delivered via the cloud or Managed Security Service Providers (MSSPs). Similar to the advantages realized by other cloud-based models, SaaS has proven to help organizations reduce costs, leverage outside resources for business expertise and improve agility and responsiveness. Through this outsourcing model, security systems are available for a monthly subscription rate, rather than traditional security products that are purchased, installed and maintained internally.
Those companies looking to leverage new technologies for threat prevention, detection and response should consider managed security services to level the security playing field. Let’s take a closer look at some of the more significant advantages of these cloud-based security services.
It’s no surprise to hear that enterprise security is an expensive line item in the budget. In fact, a recent survey by 451 Research tells us that network security spending will grow nearly twice as fast as overall IT security spending over the next five years. (Source: CIO). Most predict that spending on network security will increase at a rate of 10% to 20% in the next 12 months. Part of that spending is on the security solutions themselves, as well as the ongoing costs of managing and updating these systems.
The other component of the cost comparison is the expense of hiring skilled full-time employees who are knowledgeable and capable of staying current with the latest security solutions and the increasing variety of threats. Emerging threats might include crippling ransomware attacks, large-scale vulnerability threats, and the rise of cryptocurrency risks, just to name a few. In a tight labor market, finding and keeping security professionals with a high level of expertise can be a challenge. Partnering with a security service providers provider can help balance these costs by injecting more predictability and consistency into the equation. This approach also allows internal security teams to focus less on the daily technical details of cybersecurity, and to focus more on strategic management of the organization’s information security framework.
Meeting regulatory compliance requirements related to data loss prevention and protection have become increasingly important for enterprises. Another advantage of the security-as-a-service model is that it brings together all security components under the same umbrella. Security services delivered by a provider brings a centralized management component to enterprise security which aids in control for configuration management, policy management, monitoring, and synchronizing threat prevention activities. One example of centralized security, organizations may be able to scale their security strategy by deploying layers of endpoint security software at the corporate headquarters and launch managed point security solutions for branch locations.
Greater attack speed and frequency increased compliance requirements, and the sheer number of security products that need to be managed are all factors contributing to the complexity of the enterprise security landscape. Cloud-based security-as-a-service delivers significant benefits in terms of simplicity and improved access to advanced security solutions. For instance, while security information and event management (SIEM) solutions may have been sufficient enterprise protection five years ago, more advanced technologies are available today that leverage real-time scanning, web and file reputation, behavioral analysis and machine learning. More than best-of-breed point solutions, these tools are now foundational security components. When talking with cloud partners, look for those that offer data loss prevention tools and encryption solutions, endpoint detection, and response (EDR) tools as well as advanced anti-malware and anti-threat solutions. Cyber threat hunting services are another example of today’s must-have solutions set. Threat hunting services can enhance a company’s security posture with access to tools that track, identify and prevent would-be attacks before they happen.
Giving enterprises access to the best and most up-to-date security solutions as they become available, empowers companies with greater threat visibility and threat intelligence giving them the best chance to mitigate risks and protect critical infrastructure.
With cybersecurity attacks increasing in frequency and scale, organizations need broader threat visibility and more connected, multi-layered security defenses to thwart attacks and mitigate risks. Security delivered as a service (SaaS) offers several advantages to traditional methods specifically in terms of reducing security costs, establishing centralized management and giving enterprise access to the most advanced tools available.