by David Deering and Thomas Moore
While COVID-19 is dominating headlines for obvious reasons, there are implications for business operations exacerbated by the outbreak. With a large number of employees working remotely, more cyber security resources and technologies are needed due to the increased attack surface. Bad actors from state-sponsored adversaries, to ransomware opportunists, are working to take advantage.
Situations like this can alter how businesses operate and expose vulnerabilities despite vast investments in cyber security products and services. The fact is, cyber security is both an art and science. To be effective, it requires experience and expertise to execute regardless of the technology being applied. Therein lies the dilemma. There are simply not enough qualified security pros to go around.
Most elite talent earns more than $200,000 per year and works for global organizations that have the budget to retain their world-class abilities. Despite this, the need remains, as well as the proverbial quandary of how to deal with it. Where can qualified leadership be found that is both affordable and effective? Between headcount and technology, the costs can break the bank.
As with many complex business processes, working with a third-party to leverage their resources and expertise to keep capital expenditures low has emerged as a viable solution — Cyber as a Service (CaaS).
Leadership is Critical
A dynamic cyber security program starts at the top. And, working with the right person with the right experience is critical. But as we’ve established, the talents of these individuals are hard to come by and expensive. Consider this:
- Recruiting a full-time chief information security officer (CISO) will take at least 3-5 months and another 3-4 to get acclimated.
- Salaries can exceed $300,000 annually.
- Long-term retention requires a high salary and attractive growth opportunities.
- Burnout is high:
- 48 percent report that job stress has dramatically impacted their mental health.
- Average tenure is a short 26 months.
These facts don’t present a winning proposition for most companies.
The challenges of affording, finding and retaining a CISO are daunting. Right now, most, if not all, businesses are trying to conserve cash flow, making it hard to hire someone solely focused on cyber security. But that doesn’t negate the need. This is where CaaS comes into play with a virtual chief information security officer (vCISO):
- You can hire a vCISO for as long as necessary with no salary or benefits. There is simply a fixed fee based on the duration of the contract. Typically, an overall savings of 60 percent can result.
- It is highly scalable based on fluctuating business needs. There might not be a need to retain them full time. If you need them again, you can engage within just hours.
- A vCISO will have an established team of experts to augment existing IT staff.
- The vCISO is agile and can move quickly to dissect the unique needs of an organization to deliver the right security program in a condensed timeframe while keeping costs very low.
- They can help save money by providing an unbiased perspective of where to invest in products and solutions.
- vCISOs are seasoned pros and will help create a sense of urgency and proactiveness among the IT team and the broader organization to stay ahead of the constantly changing threat landscape.
There are a lot of so-called “silver bullets” when it comes to cyber security and it’s understandable to be confused. CaaS can cut through the clutter by simplifying the process, making it a virtual “easy button.” Bringing in the right team with the right tools to lead the charge is exactly what we do for all of our clients every day. And, we’ve walked alongside them to navigate and overcome devastating threats to their business. In upcoming posts, we’ll unpack what you need to know to make informed decisions and determine if CaaS is the right move for you. Stay tuned!
LEO Cyber Security lives and breathes CaaS, and we can make it even more user-friendly. To learn more, feel free to contact us. We’re here to help.