Cybercrime is an increasing problem that you can’t handle alone. In Q1 2020, cyber-attacks on UK businesses were up 30%. Given that a cyber-attack happens every 39 seconds, it’s crucial to find the right security solutions for your business.
One effective way is through developing strategic partnerships to secure your systems and improve your outcomes. Entering into cyber security partnerships gives your company a chance to combat the increasing sophistication of bad actors, in addition to other benefits, such as:
- Fixing your cyber security skills shortage problem
- Finding cyber security experts whenever you need them
- Having easy access to information
- Freeing up time and resources for improved customer services
Strategic partnerships can entail sharing intelligence, conducting research, outsourcing some services, and identifying practical ways to deal with attacks and breaches. For example, you can work with an end-to-end cyber security service that acts as a collaborative technology partner during your digital transitions.
That’s precisely what we do here at Six Degrees through our Cyber Security & Compliance Practice Group. Our managed security services are designed to monitor your security, protect you from threats, manage vulnerabilities, and secure your firewalls.
If you want to learn more, be sure to reach out to us.
1. Sidestep the cyber security skills shortage
According to a report published on GOV.UK, the UK cyber security labour market has huge skills gaps and shortages. The majority of the companies experience shortages in technical skills, non-technical skills, or both. The reason is that demand for cyber security skills outweighs the available talent pool.
Up to 51% of employers find it challenging to fill generalist cyber roles within their organisations. There are even concerns that most applicants frequently apply for positions that they didn’t qualify for or exaggerated their qualifications. For the few available qualified experts, some have high salary demands that most employers can’t meet.
As a company, you can circumvent this problem by working with a partner that has the technical expertise you need. Such partnerships give you access to talent pools that are hard to find within your sector or industry — and are a critical part of overcoming the cyber security skills shortage. They become an extension to your company, providing seamless access to various services, such as threat protection, compliance services, IT health check, security monitoring, and more.
2. Get on-demand access to expertise
Not all companies have access to super technical skills, which are crucial in tasks that require advanced technology and specialisation. Whilst you can have several generalists that can discuss a wide range of cyber security areas, they might not be as in-depth as needed in a specific task.
Plus, in-house security teams tend to wear many hats, meaning they can be stretched thin due to juggling many tasks. It is also worth pointing out that having a team of malware and intelligence experts can be costly for any organisation, and scaling such a team is quite challenging, too. Keep in mind that scaling is essential to attain macro visibility across your departments and locations.
In a world where attackers are increasingly funded and skilled, working with a managed service provider (MSP) gives you access to different cyber security experts whenever you need them. Partnering with them allows you to create a robust security strategy tailored to your business and industry needs.
Besides, MSPs use state-of-the-art technologies and tools to assess your current security situation, locate vulnerabilities, and manage your security needs. They give you a complete view of your security risk, allowing you to invest in areas that require priority attention.
3. Gain better access to information
Optimal risk management requires your team to be well-informed about your industry and business environment. You need to understand the threat landscape, which is continually becoming more evasive and sophisticated.
For example, Emotet, one of the most destructive banking trojans, has been active over five years since it was first detected in 2014. This is because the trojan is ever-transforming, and this is one reason why trojans account for 51.45% of all malware.
Security firms usually share a ton of intelligence reports on upcoming threats, security trends, new tactics, and risk analysis to help you learn how to secure your systems. For instance, during the COVID-19 pandemic, the remote working arrangements highlighted many problems with traditional VPNs, forcing companies to use zero-trust network access (ZTNA) to control remote access effectively.
The use of ZTNA reduces the risk of bad actors piggybacking on VPN connections to attack other applications.
This kind of information is vital in keeping your team abreast of the current happenings in the industry. Bear in mind that malware and web-based attacks are the most costly attack types, and they cost companies up to £1.9 million in defence. So, the better your team is informed, the easier it is to avoid such attacks.
MSPs work with different organisations, which means they share intelligence and information with other organisations to improve their services. The benefits of such relationships also spill over to you through skill sharing, information sharing, and collective response to threats.
4. Stay focused on your customers
Up to 85% of businesses rely on managed services and vendors to provide cyber security operations. 66% of these businesses outsource between 21% to 50%of their operations. Part of the reason they are doing this is to free up resources and channel them to improving customer service.
Your business depends on customers to survive, so meeting their needs is crucial even when you’re investing in securing your business. Cyber security’s real value is to create a conducive and secure environment that spurs growth and new opportunities. But that’s something that you can trust a reliable MSP to do on your behalf.
Most of the outsourced services include physical security, vulnerability management, security monitoring, awareness, and training. These are vital services because most companies struggle to minimise the risk of attacks despite investing heavily in in-house teams.
By partnering with MSPs or cyber security experts, you can focus on your real core competencies — offering outstanding customer services or delivering your product. This allows you to:
- Deliver more value to customers
- Attend to their queries
- Improve your experiences
- Grow your brand
In the long term, you’ll realise cost and time savings, which can be invested in other business areas for steady growth. MSPs offer 24×7 monitoring and threat protection to keep your systems running smoothly, allowing you to focus on what you do best.
Protect your customers with the right partner
As you invest in digital transformation to increase efficiencies, it’s vital to understand that security is important to avoid data loss and business disruption. Transformational capabilities, such as the internet of things (IoT), data analytics, cloud computing, and operational technology, work well in a secure environment.
While it’s advisable to have an in-house cyber security team, there are always projects that will require outside help. In this case, you’re better off with a managed service provider with expertise in your specific industry and that offers a variety of services, such as penetration testing, PSN compliance, and cloud assessment.
If you’re looking for the right cyber security partner, don’t hesitate to get in touch with our team. At Six Degrees, we’re committed and motivated to help you achieve your goals. Through data-driven technologies, we help companies lay stable and secure infrastructure foundations for their digital transformations.
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With more people than ever attempting to steal your account
With public sector budgets stretched and resources at a premium,
The Cyber Essentials Standards have changed. Your organisation will need