The Hidden Risks And Challenges Of Managing A Security Operations Center For Businesses

While cyber risk is something organizations of all sizes face, smaller companies are particularly vulnerable. According to the Hiscox Cyber Readiness Report, 41% of small to medium-sized businesses (SMBs) fell victim to a cyber-attack in 2023. As technology continues to evolve and advance, this number is only expected to rise.

Some of the cybersecurity risks that SMBs face include data breaches, financial losses, operational disruptions, reputational damage, and compliance fines. It's essential that decision-makers understand the breadth of these risks and take measures to proactively reinforce their infrastructure.

The question becomes whether to hire and maintain a dedicated in-house security team or outsource this critical function to a third-party provider.