Key Takeaways:
- Cyberattacks are on the rise, with no signs of slowing down anytime soon.
- Cybersecurity issues can seriously affect a company’s operation and even cripple a business.
- Your alternatives for fighting cybercrimes in your business are to get an in-house cybersecurity specialist or hire professional cybersecurity companies.
- Outsourcing your cybersecurity operations to a professional company saves you valuable time and money.
Cyber threats and hacks are a nuisance to many businesses today. They disrupt your operations by infecting your IT systems, damaging your brand reputation, stealing your intellectual properties, and pushing loyal customers to your competition. Six percent of businesses have paid ransoms to regain control of their IT systems, and if you think the state of cybercrime is bad now, hold tight – it will only get worse. Cybersecurity Ventures predicts that cybercrime will cost over 10 billion dollars by 2025.
Is doom by cybercrime inevitable, then? Hardly. If you know what to do, you can set your system up to minimize, if not eliminate, any cyber threats your system will face. This doesn’t mean you need to learn cybersecurity, though. You can outsource the task to the experts at cybersecurity companies.
This guide explains how a cybersecurity company can help your business and why you should choose to hire out your cybersecurity over traditional in-house teams. Let’s start with what a cybersecurity company is and why you should care about what they do.
What are Cybersecurity Companies, and Why are they Important?
The main goal of a cybersecurity company is to safeguard IT network systems’ confidentiality, integrity, and availability from cyberattacks and uninvited access.
There have been record numbers of cyberattacks lately, so there are quite a few cybersecurity companies to choose from. Famous names in the cybersecurity space, like Avast and McAfee, are some of the most popular examples.
There have been questions about whether these cybersecurity companies are needed around, and the short answer is: absolutely. As a business owner, you know information is critical in driving revenue to your business. However, that same information in the wrong hands can bring disaster to your doorsteps. Here’s what that means.
Cyber intruders are always on the hunt for vulnerable systems to penetrate. That could be your system, depending on the security you have in place. You will face many cybersecurity risks without a robust system in place, some of which include the following:
Phishing
Phishing attacks are social engineering strategies that steal vital information from users, such as login credentials and credit card information.
The attacker poses as a trusted entity with important information for the user. This can be in the form of emails, text messages, and the like. The intent is to lure the reader into leaving sensitive information on a spammy website or downloading malware into the user’s computer system.
Unfortunately, only one phishing attack takes your system to its knees.
Ransomware
Think of ransomware as kidnapping – only this time, it’s digital, and the kid, in this case, is sensitive data. With ransomware, an attacker encrypts your data with malware and denies you access to that data. As you’d guess, the attacker then asks for payment (ransom) before relinquishing access or a decryption key to you.
The ransom payment is usually thousands of dollars or intangible currencies like Bitcoin or Ethereum. For small businesses, or even for large ones, this ransom payment can be crippling.
Ransomware attackers are ruthless. They usually target organizations whose only feasible option is to pay a ransom, but small-scale businesses are generally the hardest hit.
-IoT Attacks
IoT devices have embedded software and sensors that allows them to share information from one point to another. Sharing information between these IoTs is vulnerable to hacking, however. That’s why businesses are sacrificing the cost of 4 Burj Khalifas to secure IoT security.
-Endpoint attacks
Most cyberattacks target software and IT systems, but endpoint attacks target the user system itself. Instead of going after an app on your phone, for example, endpoint attacks will target the phone itself. These types of attacks are rare, as they’re expensive to pull off and may require the attacker to move around the organization’s workplace.
This doesn’t mean endpoint attacks aren’t a real threat to organizations. A study by the Ponemon Institute shows that 68 percent of businesses have been victims of one or more endpoint attacks compromising organization data.
-Formjacking
Simply put, it’s when hackers hijack forms on your website, so any time a user completes a form on your site, the attackers get access to that information. Formjacking hackers usually target payment gateways and shopping carts, as that’s where users reveal their payment details and other sensitive information.
Formjacking is a stealthy and destructive way to steal user information – just like someone tapping your phone. It’s no surprise that close to 5,000 sites are formjacked every month. The attacker makes a copy of your responses without permission from you or the website you’re filling out a form on.
Your way out of these cybersecurity risks is through cybersecurity companies. These companies make it their business to keep the wolves at bay so you can focus on serving your customers and growing your business. Cybersecurity companies are not your only option; you can also get an in-house cybersecurity team.
The only question now is, which do you choose – in-house cybersecurity or outsourcing to experts?
Hiring Cybersecurity Companies vs. Using an In-House Cybersecurity Team
Many business owners remain drawn to the stability and dependability of hiring a typical, full-time specialist to fill the cybersecurity role. Although choosing an internal expert may be tempting, it is always wise to consider all of the implications of this decision.
Here are the facts for you so you can weigh them for yourself.
Pros of Hiring Cybersecurity Companies for Your Business
- You’ll have access to an entire team of cybersecurity experts.
- It’s a cost-effective way of safeguarding your IT systems.
- You’ll have a ready-to-go security system immediately after you hire a cybersecurity company.
- You get a team with cybersecurity expertise, so you know you’re in good hands.
Cons of Hiring Cybersecurity Companies for Your Business
- Issues with intellectual property.
- Differing approaches to meeting computer security requirements.
- Little opportunity for regular in-person connection.
Pros of Hiring an In-House Cybersecurity Person
- You retain knowledge in the company as your in-house personnel can teach other members of your IT department the works of your security system.
- You’re guaranteed priority attention with in-house personnel should multiple attacks come through.
- You can integrate your in-house expert into your current IT system.
Cons of Hiring an In-House Cybersecurity Person
- Finding individuals who can handle all your cybersecurity processes can be difficult.
- This can be costly as you have to hire and train personnel for the role and pay for a whole system.
- You’ll have a single point of failure in your cybersecurity system.
Outsourcing cybersecurity establishes a baseline for improved online threat protection for your business, but you can choose to go in-house if you want control over every aspect of your setup.
3 Ways Cybersecurity Companies Save Your Business Time and Money
We’ve covered the pros and cons of outsourcing cybersecurity to a professional cybersecurity company, so now, let’s look at some ways cybersecurity companies can save your business time and money.
1. Get Ahead of Cyber Threats
Reputable cybersecurity companies will have the programs, equipment, and expertise to assist you in safeguarding your computer system from attackers. This system will comprise firewalls, anti-virus software, and intrusion detection systems.
These companies have also handled several cyberattacks already and know what to look for on the job so they can sniff out vulnerabilities quickly and easily and secure your IT system.
2. Get the Latest Technologies to Combat Your IT System Intruders
Working with a competent cybersecurity company gives you access to the most recent and efficient security technologies and procedures. Top-of-the-line technologies like this are essential in protecting your company from online threats and hacks.
The best part? You don’t need to micromanage the operation – the experts will handle all your cybersecurity requirements. These professionals have years of expertise dealing with cyber threats and are skilled at shielding organizations from them.
3. Quickly Recover From Cyberattacks
No organization is safe from online threats. You must have a strategy in place for handling the impact if your company is the target of a hack. That’s where a cybersecurity company comes in.
A cybersecurity company helps you recover as quickly as possible by evaluating the damage and regaining access to your systems and data faster than most in-house personnel.
This way, you don’t need to worry about the expense or the amount of time it will take to restart your firm from scratch.
Let’s face it: Cybercriminals always look for a vulnerable IT system they can exploit. Many business owners, especially small business owners, unfortunately, don’t know enough to stop an attack if it occurs. What they do have is questions.
Contact a Techromatic Expert with Questions
The experts at Techromatic are always open to talking to business owners and key decision-makers about how they can save their businesses from cyber threats. Having an expert walk you through the benefits and give you a sneak peek of what you can gain from a cybersecurity company will help you make better decisions for your business.
This can be a complicated issue to understand, so if you’re still confused about how a cybersecurity company can help your business, or if you’re just not convinced about the value of using one, get in touch with the experts at Techromatic for a free consultation.
