Cybersecurity is a top concern for businesses of all sizes. In 2021, the average cost of a data breach was $4.24 million, and the number of data breaches is only expected to increase in the coming years.

One way that businesses can address their cybersecurity concerns is by outsourcing their IT projects to a third-party provider. This is known as IT offshoring. IT offshoring can provide a number of benefits for businesses, including:

• Access to specialized skills and expertise: Third-party providers in other countries may have access to specialized skills and expertise that businesses do not have in-house. For example, some countries have a strong track record of developing cybersecurity professionals.
• Reduced costs: IT offshoring can save businesses money on the cost of hiring and training in-house IT staff. The cost of labor in other countries is often lower than in the United States.
• Improved efficiency: Third-party providers in other countries may be able to provide IT services more efficiently than in-house teams. This is because they may have access to a larger pool of talent and they may be able to scale their resources up or down more quickly.

However, there are also some risks associated with IT offshoring projects, including:

• Loss of control: When businesses outsource their IT, they lose some control over how their data is managed and protected. This is because the third-party provider may be located in a different country with different laws and regulations.
• Security vulnerabilities: Third-party providers in other countries may not have the same security standards as businesses in the United States. This is a risk, but it is important to note that there are many reputable third-party providers in other countries that have strong security practices.
• Data breaches: If a third-party provider is hacked, businesses may be at risk of a data breach. This is a risk, but it is important to note that businesses can mitigate this risk by carefully selecting a third-party provider and by monitoring the provider’s security practices.

So, should we still consider IT offshoring in the age of complex cybersecurity?

The answer is not a simple yes or no. There are a number of factors that businesses need to consider when making a decision about whether or not to outsource their IT. These factors include:

• The size and complexity of the business’s IT needs.
• The level of security risk that the business is willing to accept.
• The cost savings that the business can expect to achieve by outsourcing.
• The reputation and track record of the third-party provider.

If a business decides to outsource its IT, it is important to carefully select a third-party provider that has a strong track record of security and compliance. Businesses should also put in place a robust due diligence process to assess the risks associated with outsourcing.

Ultimately, the decision of whether or not to outsource IT offshoring is a complex one that should be made on a case-by-case basis. Businesses need to carefully weigh the benefits and risks before making a decision.

Recent cybersecurity-related figures:

• According to a 2022 report by IBM, the average cost of a data breach is $4.24 million. This number has been steadily increasing in recent years, and it is expected to continue to rise.
• A 2021 study by Ponemon Institute found that 60% of businesses that outsourced their IT experienced a data breach within two years. However, the study also found that businesses that outsourced their IT were more likely to recover from data breaches more quickly than businesses that did not outsource their IT.
• A 2022 survey by Gartner found that 70% of businesses plan to increase their spending on cybersecurity in the next year. This suggests that businesses are increasingly concerned about cybersecurity, and they are willing to invest in it.

IT offshoring can be a good way for businesses to improve their cybersecurity posture. However, it is important to carefully weigh the benefits and risks before making a decision. Businesses should also make sure to choose a third-party provider that has a strong track record of security and compliance.

About LARION JSC

LARION, a global software outsourcing partner with nearly 2 decades deep industry expertise. We are a 100% Vietnam-based technology company specializing in crafting solutions and building highly skilled development teams for companies of all sizes and types of business. Run by a team of successful entrepreneurs and dedicated technical experts – LARION is a unique symphony where we create a frictionless future for customers with passion, while maintaining full compliance with your needs and objectives.

We offer a wide range of software development services, including:

• Custom enterprise software development 
• Data analytics 
• System Integration 
• DevOps 
• …more

We are committed to working with our clients to understand their needs and develop solutions that meet their specific requirements. We also offer a wide range of support and maintenance services to ensure that our clients are satisfied with our software solutions.

If you are looking for a reliable and experienced software development partner in Southeast Asia, please contact LARION JSC today!.