It’s the big question with outsourced services: “Will this decision save my business money?” As far as third-party services go, cybersecurity usually isn’t the top priority. The big security companies might tell you that all you need is their firewall or antivirus software.
What they don’t tell you is that these solutions only scratch the surface of what cybersecurity truly means, and often require additional maintenance and upgrades to remain effective.
Could managed cybersecurity actually save your company money, both in the short and long-term? Our clients think so, and here’s why!
Reduces the Risk of Cyber Attacks
With a team of experts constantly monitoring and scanning for potential threats, you’ll have peace of mind knowing your data and systems are in good hands.
In contrast, relying solely on in-house IT staff or basic security solutions leaves your company vulnerable to costly breaches and their aftermath.
How Does This Save Money?
By investing in managed cybersecurity, you can avoid the financial burden of a data breach. Here are some potential cost savings:
- Avoid Downtime and Lost Productivity: Cyber attacks often result in downtime as systems are taken offline to contain and resolve the issue. In addition to lost productivity, you may also have to pay for emergency IT services to get your systems back up and running.
- Prevent Data Loss: If your company’s sensitive data is compromised, it could result in significant losses due to intellectual property theft or regulatory fines.
- Reduce Legal Fees: Depending on the nature of the breach, your company may be faced with legal fees and potential lawsuits from affected customers or clients.
- Protect Your Reputation: A data breach can seriously damage your brand’s reputation and result in lost customer trust. With managed cybersecurity, you can prevent these negative consequences.
Lowers IT and Security Costs
Outsourcing your cybersecurity also means you can save on the cost of hiring and training an in-house security team, as well as purchasing and maintaining expensive security solutions. Managed cybersecurity services often offer a more affordable and comprehensive package than trying to handle it all internally.
How Does This Save Money?
- Reduced Labor Costs: With managed cybersecurity, you don’t have to worry about hiring and training additional staff to handle security. This frees up your IT team’s time to focus on other important tasks.
- No Need for Expensive Hardware/Software: Managed services providers usually have their own advanced security tools and solutions, eliminating the need for your company to purchase and maintain them.
- Predictable Monthly Costs: Rather than dealing with surprise expenses like emergency IT services or unexpected upgrades, managed cybersecurity typically operates on a flat monthly fee, making budgeting easier.
Minimizes Downtime and Business Disruption
When your systems are secure, you can avoid downtime and disruptions that can affect your business operations. Managed cybersecurity services work proactively to identify and address potential issues before they become major problems.
How Does This Save Money?
- Less Need for Emergency IT Support: With constant monitoring and proactive measures in place, managed cybersecurity reduces the need for unexpected emergency IT support that can be costly.
- Increased Productivity: The average employee loses about 100 minutes of work time every week due to tech issues. With less downtime and disruptions, your employees can continue working without interruptions, leading to increased productivity and efficiency.
- Faster Recovery Times: In the event of a cyber attack or data breach, managed cybersecurity services can help your company recover more quickly, minimizing the impact on your business.
Compliance and Avoiding Penalties
For businesses that handle sensitive data, compliance with industry regulations is crucial. Failure to comply can result in hefty fines and penalties. Managed cybersecurity services ensure your company stays compliant and avoids these costly consequences.
How Does This Save Money?
- Avoid Fines and Penalties: By staying compliant with industry regulations, you can avoid costly fines and penalties that could significantly impact your bottom line.
- Maintain Customer Trust: Compliance also helps maintain customer trust and loyalty, preventing potential lost revenue due to a damaged reputation.
- Prevent Data Breaches and Their Costs: Compliance often goes hand in hand with proper cybersecurity measures, helping your company avoid the costs associated with a data breach.
Enhances Employee Productivity
Lastly, investing in managed cybersecurity can help your employees work more efficiently without worrying about security issues. This leads to increased productivity and ultimately, increased revenue for your business.
How Does This Save Money?
- Happier Employees: When employees feel secure in their workplace, they are happier and more productive, which can positively impact your bottom line.
- Eliminate Downtime Caused by Security Issues: With managed cybersecurity services handling potential security issues, your employees can focus on their jobs without interruptions caused by system downtime.
- Reduce Time Spent on Cybersecurity Maintenance: With the responsibility of cybersecurity off their shoulders, your IT team can spend more time on other tasks that benefit your business.
Save Money With ANC Group
By increasing immediate productivity and preventing future financial burdens, managed cybersecurity can put your money back into your pocket. If you want to find out more about which services can help you do this, ANC Group has the answers to your questions!
With our managed cybersecurity services, we can help protect your business and save you money. Reach out and talk to one of our experts about your data security.
