According to Imperva’s Cyberthreat Defense Report from 2019, 9 out of 10 companies are hiring managed security service providers (MSSPs) to help them with a minimum of one cybersecurity function. Contracting a cybersecurity service provider has become a non-negotiable for businesses today.
However, you must keep certain factors in mind when looking for the best cybersecurity service providers. Read this blog to find out how to choose a reliable and trusted cybersecurity consulting service.
First Things First: Outline Your Requirements
To ensure that you’re hiring the optimal cybersecurity service provider for your business, you need to outline your requirements. You can consider the following factors before making your decision:
- What services do you need?
- What is the size of your business?
- What is your work model (Remote, On-site, or Hybrid)?
- How many employees do you have?
- How many devices are used by your teams, and what kind of devices does your team use?
You will have to consider the abovementioned factors and other information tailored to your business, so find out what you require from an MSSP.
What Makes A Good Cyber Security Company?
There was an estimated 50,000 cybersecurity firms globally in 2021, and the number is steadily increasing. Since this sector is a relatively newer one and is evolving every day, it can be challenging to determine what factors to look out for when selecting a cybersecurity service provider. However, some key elements can let you know whether the company you’ve hired is good or not:
- Industry Expertise: Do they have certifications and accreditations? How long have they been in the industry?
- Excellent Collaborative Skills: What is their process like? Do they seem adaptive to different workplace scenarios and business models? Is their support team actually helpful?
- Excellent Interpersonal Skills and Communication: Are they communicative and transparent regarding their costs, services, and processes? Have they been thorough in understanding your requirements?
- Analytics: Are there reporting and performance evaluations detailed? Do they provide actionable tips on how to improve your security infrastructure?
The Importance of Choosing a Good Cyber Security Company
In 2023, the cost of cybercrime worldwide is projected to reach approximately $8 trillion, making it essential for businesses to invest in cybersecurity. This is because we are becoming more reliant on technology, and all types of companies need at least computers to get work done.
Therefore, organizations need to hire an MSSP that can help them with the following:
- Identify and alleviate cybersecurity issues
- Improve regulatory compliance
- Provide essential training to staff regarding cybersecurity
- Update defense measures
- Identify vulnerabilities and flaws within the network infrastructure
- Protect against cyberattacks and help with business continuity and recovery
Check the Reputation and Experience Of the Businesses You Shortlist
When you have shortlisted the cyber and cloud security providers offering the services you require within your budget, the next important step is to check the reputation and experience of each.
The easiest way to know how the company is reputed is by checking customer reviews and ratings online. You can also conduct additional research to determine when the company was founded, how long they’ve been in the business, and how many clients it has served.
How Do Cybersecurity Providers Positively Impact Your Business?
Computer systems have become the center of business processes and have become more prominent after the COVID-19 pandemic. Since employees started working remotely, the reliance on smartphones, IoT, AI, and cloud services has increased, creating unimaginable new security vulnerabilities. To combat this, you can work with a cybersecurity provider that impacts your business in the following ways:
Protects Intangible Assets
Businesses must protect valuable assets, such as confidential data and personally identifiable information of their customers and employees, from theft. Intellectual property requires a system to detect possible intruders just as physical property, so when you invest in a cybersecurity firm, you can defend yourself against digital threats.
Retains Customer Trust
Your business can avoid PR crises that often follow a data breach. If data gets compromised, your customers will lose trust in you and your business will become unattractive to potential customers. Cybersecurity teams can develop security policies, incident response, and recovery plans that protect your company from dealing with potential crises.
Keeps You Up-To-Date
Businesses need to keep up with the times and know the integral trends they should follow as technology advances. You must encourage your firm to be adaptable, up-to-date, and forward-thinking regarding online security best practices.
This includes the ongoing configuration changes and maintenance cycles, as vulnerabilities and weaknesses are discovered in your computing systems. It also includes the importance of being updated when revising cybersecurity policies, training, and conducting frequent security audits.
Qualities of Top-Rated Cybersecurity and Risk Management Companies
Risk management and cybersecurity who are rated highly possess the following qualities:
Cybercriminals are using increasingly sophisticated tools and tactics to stay one step ahead of security specialists. Top-rated cybersecurity companies are well-versed in past, present, and potential future threats and the tech solutions required to deal with them.
As a business that is an outsourcing service, particularly one that is as complicated and technical as cybersecurity, you need to have full visibility into what work the provider is doing and its results. The best cybersecurity service providers regularly provide robust reports and analytics, ensuring transparency with their clients.
Additional Considerations When Making Your Selection
Other than considering all the factors discussed earlier, here are a few more things to keep in mind when selecting a cybersecurity service provider:
- Objective Recommendations: The cybersecurity firm you are employing needs to be objective and give you proper feedback regarding what is working and what is not. As a third party, they can give you a fresh perspective and inform you about risks and opportunities.
- Proactive Approach: The service provider you choose should be proactive in their approach and primarily dedicated to cybersecurity by offering threat detection, monitoring, patching, endpoint detection and response, and DNS protection.
- Individual and Organizational Credentials: When you’re selecting a cybersecurity service provider, you’ll need to have proof of their skills, experience, credentials, and expertise, and not just rely on the fact offer cybersecurity.
- Advanced Cybersecurity Tools: To appropriately address cyberattacks and threats, more is needed than antivirus and firewalls. Today’s best cybersecurity service providers are offering layered and innovative security solutions.
Nowadays, hiring cybersecurity experts who can protect your business from cybercriminals is a no-brainer. However, when selecting a cybersecurity service provider, you must ensure they are well-established, experienced, skilled, cost-effective, accredited, and well-reviewed online. CXI Solutions offers businesses all the necessary solutions and tools to help them stay secure. With 24/7 support, and wide-ranging services, such as cloud security, security audits, monitoring, and more, you can rest assured that CXI Solutions has you covered. Contact us today for a free consultation.