UK Businesses Handing Over Cyber Security to Third Parties
More UK businesses are outsourcing their IT security because budgets are not growing as fast as the security threats.
A study of more than 230 people at businesses with more than 1000 staff, found that the combination of increasing threats, shortage of skills and stagnant IT security budgets is pushing firms to outsource security.
70% of respondents said cyber security threats are increasing and cyber security is now a board-level issue, with less than half of firms seeing a rise in their cyber security budgets.
The study was set up by Pierre Audoin Consultants who said: "Firms are seeking external support from third-party providers, either in the form of on-site consultants working in-house, or outsourcing of cyber security provision, known as managed security services."
PAC found that 40% of companies buy in security expertise for specific projects, 34% use managed security services and 13% outsource all their cyber security provision.
Duncan Brown, research director at PAC said insufficient funds and scarcity of skills are driving organisations reluctantly towards external resources, including outsourcing.
He said: "Cyber security is critical to organisations. And although they currently use external providers, they are clear that when they do such providers must come with robust credentials."
Brown added: "Cyber security is too important to businesses for them to adopt additional risks with their suppliers. It is important then for suppliers to communicate their track records, and strong industry knowledge is also extremely useful."
Return to internet news headlines
View Internet News Archive