Build or Buy? The True Cost of Cyber Security: A CFO's Perspective
Tom Davies, CFO at CyberLab, explores the big question: Should you build an in-house security team or outsource to an MSSP?
In today’s threat landscape, cyber security is not optional – it’s essential.
But when businesses face the challenge of securing their digital assets, a fundamental question arises: should they build an in-house security function or buy external cyber security services from a Managed Security Service Provider (MSSP)?
This was the focus of our recent webinar, “Build or Buy? The True Cost of Cyber Security,” where our experts broke down the real-world implications of each approach. Featuring CyberLab experts: Tom Davies (CFO), Ben Davison (Managed Services Team Leader) and Ryan Bradbury (CTO).
The Rising Cost of Cyber Security
Cyber threats are evolving, and so are the costs associated with defending against them. Ransomware attacks, data breaches, and compliance fines are just a few of the financial risks businesses face today. However, cyber security investment goes beyond just risk mitigation – it plays a critical role in brand reputation, customer trust, and operational resilience.
The Case for Building an In-House Cyber Security Team
For some organisations, developing an in-house security function seems like the logical choice. It provides direct control over security policies, allows for tailored solutions, and ensures alignment with business objectives. However, there are challenges:
- High upfront costs
Recruiting, training, and retaining skilled cyber security professionals can be expensive, especially given the ongoing talent shortage. - Technology investment
An in-house team requires significant spending on security tools, infrastructure, and continuous upgrades. - Scalability issues
As cyber threats evolve, so do security requirements. Scaling an in-house team requires constant investment in both personnel and technology.
The Case for Outsourcing a Managed Security Service Provider
Outsourcing cyber security to a managed security service provider (MSSP) or a specialist firm like CyberLab can offer a cost-effective and scalable alternative.
Benefits include…
Expertise on demand
External providers have dedicated security experts who stay ahead of emerging threats and compliance changes.Cost efficiency
Rather than investing heavily in building an in-house team, businesses can leverage established security frameworks and technologies.24/7 monitoring
Cyber security threats don’t adhere to office hours. External services offer round-the-clock threat detection and incident response.Regulatory compliance
Many industries have strict security regulations. Outsourced security providers ensure compliance without burdening internal teams.
"CyberLab’s managed services have been a game-changer for us. They’ve allowed me to focus on the bigger picture while knowing our operations are secure around the clock. Their proactive approach and tailored solutions have provided us with the peace of mind to continue delivering excellence to our customers."
– Matt Cooper, IT Manager, Futaba Manufacturing UK
Cost Breakdown: In-House vs. MSSP
Understanding the financial implications of each approach is key to making an informed decision. Here’s a general cost comparison:
In-House Security Team Costs
- Salaries
Cyber security professionals command high salaries, with CISOs often exceeding six figures. - Training & Certifications
Ongoing education is required to stay ahead of evolving threats. - Technology Investment
Businesses need to purchase and maintain SIEM solutions, firewalls, endpoint protection, and more. - Incident Response & Recovery
A breach could mean expensive forensic investigations and legal fees.
MSSP (Managed Security Services Provider) Costs
- Subscription-Based Pricing
Typically a fixed monthly or annual cost, reducing unpredictable expenses. - Access to Experts
Avoids the overhead of hiring and training an internal team. - Scalability
Easily scales with business needs, without requiring major new investments.
While building an in-house team may seem attractive for control and customisation, the costs can add up quickly. An MSSP offers predictable pricing and access to a broad range of expertise without the financial burden of hiring and retaining staff.
Key Considerations Before Making a Decision
Before deciding whether to build or buy cyber security, businesses should consider the following factors:
Company Size & Resources
Large enterprises may have the budget for an in-house team, while SMEs may benefit more from outsourcing.Industry Regulations
Some sectors, like finance and healthcare, have strict compliance requirements that may influence the decision.Risk Tolerance
Businesses that handle sensitive data may require more hands-on security measures.Existing IT Capabilities
If a company already has a strong IT team, augmenting with external services might be the best hybrid approach.Response Speed
In-house teams may provide faster internal responses, while MSSPs offer 24/7 monitoring and incident response.
The Hybrid Approach: A Strategic Middle Ground
For many organisations, the best solution isn’t a binary choice – it’s a hybrid approach.
Businesses can maintain internal oversight of critical security operations while leveraging external expertise for specialised tasks such as threat intelligence, incident response, and compliance audits. This model balances control, cost, and effectiveness.
Making the Right Decision for Your Business
Ultimately, the decision to build or buy cyber security depends on various factors, including budget, industry regulations, and internal expertise. However, as cyber threats continue to escalate, businesses must act decisively to ensure they are adequately protected.
At CyberLab, we help businesses navigate this decision by offering tailored security solutions that align with their unique risk profiles. If you’re considering your next steps in cyber security investment, get in touch with our team to explore the best approach for your organisation.
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