What are the benefits of cyber security as a service?

With organisations’ cyber security requirements becoming more complex and the threat of cyber attacks growing each year, many decision-makers are turning towards cyber security as a service.

This approach, also known as managed cyber security, works by outsourcing cyber security to a third party.

Organisations such as IT Governance that offer cyber security as a service assign dedicated experts to oversee the organisation’s data protection and data privacy needs. As such, you’ll be guaranteed to have greater cyber security advice at your disposal, but the service isn’t just about improving the knowledge at your disposal.

In this blog, we look at three other ways that cyber security as a service can benefit your organisation, and help you understand how the process works.

1. You’ll achieve security peace of mind

The stakes involved in cyber security have never been higher. According to IBM’s Cost of a Data Breach Report 2020, organisations spend £2.9 million on average recovering from security incidents.

This includes the costs associated with detecting a breach, notifying affected customers, regulatory penalties and customer churn.

Getting cyber security right therefore isn’t simply a case of avoiding a disruptive incident. Rather, it affects the long-term health of an organisation and could be the difference between a minor setback and going out of business.

With this looming over organisations, it’s understandable that they might worry. But without the right guidance in place, it is difficult to know how to protect yourself. Even organisations that do take steps to bolster their defences won’t be sure that the measures they have in place are adequate or if their spending is appropriate.

But with cyber security as a service, you can focus on doing what your business does best and let the data protection experts handle the rest.

Services typically come with a dedicated team of experts, tools, training and support that can be deployed immediately, protecting you from a range of threats.

2. You’ll save money

Cyber security as a service saves organisations money in two ways. As we discussed in our first point, the service mitigates the risk of a data breach and, by extension, the costs associated with it.

Additionally, it’s a more cost-effective way of gaining cyber security support than hiring an in-house personnel.

The salary of an experienced cyber security analyst is typically £70,000 a year or more – and depending on the size of your organisation, you will probably need additional team members to oversee your day-to-day security operations.

By contrast, IT Governance’s Cyber Security as a Service begins at just £15,000 a year and covers everything you need to protect your organisation.

You’ll receive a pool of experts who can help address network infrastructure, information security, Cloud computing and anything else that’s relevant to your organisation.

3. You’ll receive cyber insurance cover

Many cyber-security-as-a-service offerings include cyber insurance as part of the package.

Cyber insurance is a specific type of protection that helps organisations mitigate the financial costs associated with information security incidents.

These costs typically won’t be included in standard business insurance policies, which tend to cover only the damage or loss of equipment itself, rather than harm caused by a cyber security event.

Cyber insurance instead covers the costs of incidents that affect the confidentiality, integrity and availability of information. This includes cyber attacks and data breaches, as well as other events that impact IT systems and networks.

Policies generally provide organisations with the means to manage the incident. This includes forensic investigation, incident response, legal assistance and public relations support.

Our expertise, your peace of mind

You can find out more about IT Governance’s Cyber Security as a Service package on our website.

The annual subscription service can be tailored to suit your organisation, with our experts happy to help you determine what protections you need to implement.

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