Cybersecurity & Compliance: What’s the Best Option for Your Business?

If you're a leader of a company that needs to keep systems online and data secure, you probably know that cyber threats are everywhere. Cybersecurity is talked about on the news and LinkedIn daily, with many examples of why cyber risk is a business risk just like the economy and competition is. Being good at cybersecurity and compliance can be a competitive advantage. Unfortunately, there can be fines, lawsuits, and reputation harm when things don't go well. So, what should you do if you need help with cybersecurity and compliance? You have a handful of options, ranging from doing it yourself to hiring experts. In this post, we’ll go over these choices, so you can decide what’s best for your business.

Option 1: Do It Yourself (DIY) - $0 to $5K per year

Many small business owners try to handle cybersecurity and compliance on their own. There are free online resources, checklists, and tools that can help.

Pros:

✅ It’s the least expensive option.

✅ You have full control over decisions.

Cons:

❌ It's hard to keep up with cyber risks and compliance requirements.

❌ Mistakes can be costly if you miss something important.

❌ You probably have lots of other priorities to tend to.

Best For:

• Very small businesses with little sensitive data.

• Owners who enjoy learning about security and are willing to invest time in it.

Option 2: Using Compliance Automation Software Like Vanta or Drata - $5K to 50K per year

Some companies use software to help with cybersecurity and compliance. Tools like Vanta and Drata automate parts of the process, helping businesses meet security standards like SOC 2, ISO 27001, or HIPAA.

Pros:

✅ Saves time by automating security and compliance tasks.

✅ Helps businesses stay organized and prepare for audits.

✅ Connects with cloud platforms (like AWS, Google Cloud, and Microsoft Azure).

Cons:

❌ Doesn’t replace human expertise, so you still need to understand what’s going on.

❌ Primarily focuses on compliance checklists, not overall security strategy.

❌ Cost of the software plus staff to use it can lead to higher costs than expected.

Best For:

• Companies looking for a structured way to manage compliance.

• Businesses with cloud-based systems that need to pass security audits.

Option 3: Hiring an In-House Cybersecurity Team - $120K to $500K per year

If you want full-time security and compliance experts on your team, hiring in-house is an option. This means you hire employees who focus only on keeping your business safe.

Pros:

✅ You get a dedicated team focused on your business’s security.

✅ Your team knows your company’s unique risks and needs.

Cons:

❌ Cybersecurity professionals are expensive to hire.

❌ Finding and keeping the right talent can be difficult.

❌ Security is always changing, so employees need ongoing training.

Best For:

• Larger businesses that need full-time security experts.

• Companies with a long-term commitment to building cybersecurity expertise.

Option 4: Hiring a Cybersecurity Consulting Firm - $30K to $250K per year

For many businesses, working with a cybersecurity consulting firm is the best balance of cost and expertise. Instead of hiring a full-time team, you work with experts who help when you need them. To give you an idea of our typical engagement, we charge between $6K and $14K for an in-depth cyber risk assessment. Then, it's $2K to $5K per month for enhancements and ongoing support, based on your requirements.

Pros:

✅ You get experienced professionals without the cost of full-time salaries.

✅ You get a tailored security strategy, not just a checklist.

✅ Scales with your business as you grow.

Cons:

❌ You need to choose a firm that understands your industry and needs.

❌ Costs depend on the level of service required.

Best For:

• Small and medium businesses that need expert help but don’t want to hire full-time staff.

• Companies preparing for audits, dealing with security risks, or needing ongoing support.

Option 5: Outsourcing Cybersecurity Work Overseas - $10K to 100K per year

Some businesses look for cybersecurity help from overseas providers because of lower costs. This can be through freelance platforms or outsourcing firms. While the low cost might sound appealing, it's important to have a way to know who you're working so your data doesn't end up being misused.

Pros:

✅ It’s less expensive than hiring locally.

✅ Gives access to a global talent pool.

Cons:

❌ Communication barriers (language, time zones, culture).

❌ Some providers may not fully understand U.S. or European security laws.

❌ Risks with sharing sensitive data outside your country.

Best For:

• Businesses with a tight budget that need basic cybersecurity tasks done.

• Companies that have experience managing remote vendors securely.

What’s the Right Choice for Your Business?

The best cybersecurity and compliance option depends on your business size, budget, and risk level.

• If you’re a small business with simple needs, DIY or compliance software may work.

• If you have growing security and compliance concerns, a consulting firm offers expert help without the cost of full-time staff.

• If you need full control, hiring an in-house team might be the right move.

• If cost is the biggest concern, overseas outsourcing can be an option, but be careful.

  
  

No matter which path you take, the most important thing is to take action before a cyberattack or compliance issue puts your business at risk. If you'd like some help figuring out the best approach for your business, feel free to send us a message.