In response to the increased sophistication and devastating consequences of cyber attacks, businesses have gradually transitioned their cybersecurity strategy away from on-premise security solutions and Managed Security Service Providers (MSSPs) to the Security-as-a-Service (SECaaS) model. With SECaaS, a third-party cloud provider assumes the responsibility for the development and maintenance of a business’ cyber-security strategy. In 2015, the worldwide market for SECaaS was at $3.12 billion. This market size is projected to reach $8.52 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 22.2%.
Before making the jump over to the SECaaS cyber-security model, it is essential for your IT Ops team to do their due diligence and take a number of factors into consideration. A lack of due diligence may lead to implementation failure and may put your business’ network at risk of compromise. Discussed below are seven factors that have to be taken into consideration before transitioning to the SECaaS cyber-security model.
Security as a Service: The 1. Expertise You Need
One of the primary reasons businesses switch over to Security-as-a-Service is because of a shortage of individuals with the right set of cyber-security skills and experience. With SECaaS, the service provider is responsible for employing professionals—people with the right knowledge and cyber-security skill set. Service providers bring specialized expertise and robust infrastructure to deliver comprehensive cybersecurity solutions, including cloud security, endpoint protection, and email security. As a business owner, it is important for you to assess the skill set of the service provider before making a decision, including whether they are a managed security service provider (MSSP) capable of delivering around-the-clock cybersecurity services. You want to ensure that the service provider has the required skills to meet your business needs.
2. Security Requirements
An initial task that should be done prior to looking for a cloud security provider is to do a thorough analysis of your business’ network, including conducting a security assessment to evaluate existing security measures and identify vulnerabilities, so as to determine the nature as well as the extent of cyber-security needed.
Different businesses have different security needs and the various cyber-security providers have their different strengths and weaknesses. Knowing the cyber-security needs of your business will help in deciding of a cloud cyber-security provider to use. It is important to select network security solutions that provide comprehensive protection for your network.
At the end of the day, you want to choose a provider whose services match your security requirements and can deliver robust network security.
3. Service Level Agreement (SLA)
The SLA is a document that details the expectations of the cloud security provider in providing the cyber-security service. It addresses the type of cyber-security service expected, available support, expected incident response time, service fees, and consequences for non-compliance, among others. SECaaS is typically offered on a subscription basis, providing ongoing access to security services with flexible terms. The SLA has to be examined meticulously to ensure that you are comfortable with the service provider’s expectations before making any form of commitment.
4. Certification and Compliance
Some industries have regulatory requirements that dictate data management and storage. An example of such a regulation is HIPAA which dictates the privacy and security of patient information. Another regulatory standard is PCI-DSS which guides the storage and handling of customers’ credit and debit cards. Before settling on a cloud cyber-security provider, it is necessary to check that the provider has met all the necessary regulatory requirements for your business. It is also important to choose a provider with strong compliance management capabilities to ensure ongoing adherence to industry standards.
5. Threat Monitoring and Incident Response
Knowing how your network will be monitored for threats is essential before settling on a cloud cyber-security provider. Ideally, the selected provider should have a robust threat monitoring system performed round-the-clock. Effective SECaaS platforms provide advanced threat detection and intrusion detection to identify and respond to cyber threats. This ensures that threats are detected early before any significant damage to the network has occurred. In addition, it is also necessary to know what measures to be implemented in the event of a detected threat or network compromise – who will be notified and what measures will be taken to contain the spread. Automated incident response enables rapid mitigation of threats by automatically detecting and responding to security incidents.
Collecting and analyzing security information is also crucial for proactive threat management and effective incident response.
6. Identity and Access Management (IAM)
Controlling who has access to specific areas of your network as well as what rights users have is an essential component of an effective cyber-security strategy. It is important to review your IAM policy to ensure that it is up to date prior to choosing your cloud cyber-security provider. Your IAM policy will be the guide used by your selected provider to grant users access and rights to your system. IAM solutions also enable organizations to monitor access to sensitive resources and ensure that only authorized users can reach critical systems. Not having a good policy in place may result in some users having inappropriate rights or access thereby putting your system at risk.
7. Application Security
In today’s digital landscape, application security has become a cornerstone of effective security services, especially as organizations increasingly rely on cloud-based apps and mobile apps to drive business operations. Protecting these applications from vulnerabilities and security threats is essential to maintaining a strong security posture and safeguarding sensitive data.
SECaaS providers deliver comprehensive application security solutions tailored to the unique needs of cloud environments. These security solutions often include vulnerability scanning and penetration testing to proactively identify and address weaknesses before they can be exploited. By implementing robust security measures such as encryption, access management, and identity and access management, SECaaS providers help prevent data breaches and unauthorized access to critical business applications.
Advanced threat protection and threat intelligence are integral components of application security, enabling SECaaS providers to detect and mitigate advanced persistent threats and targeted attacks. Through continuous monitoring and security event management, these providers can respond to security incidents in real-time, minimizing the risk of data loss and ensuring business continuity.
One of the key advantages of partnering with a SECaaS provider for application security is the ability to scale security solutions as your organization grows, without the need for substantial capital outlays or expanding your in-house security team. This approach not only reduces financial commitments but also allows your business to focus on its core competencies, while security experts handle the complexities of application security.
By leveraging the expertise and advanced security tools offered by SECaaS providers, organizations can effectively protect their cloud-based and mobile applications, address evolving security threats, and ensure that their security needs are met efficiently and cost-effectively.
7. Risk Management Strategy
A risk management strategy details the measures taken to minimize threats to your network. Effective risk management should include vulnerability management and data loss prevention as key components to identify system weaknesses and prevent the loss or theft of sensitive data. Among other things, it describes measures to decrease your network attack surface thereby reducing the risk of network compromise. Implementing data protection strategies, such as encryption and access controls, is essential to prevent data breaches and unauthorized access. It also addresses how updates/upgrades are performed to ensure that the latest security controls are always in place. Additionally, you should work with your provider to develop security measures tailored to your existing infrastructure, ensuring seamless integration and effective protection. It is important to choose a cloud cyber-security provider with a good risk management strategy.
Bottom Line
At Cyber Sainik, we have the skills and expertise needed to develop a cloud-based cyber-security solution for your business. For more information about our SECaaS services, contact us today.
