Question

What is Outsourcing? What is Security as a Service (SECaaS)? What criteria could be used in a RFP, evaluation of service, and what is a good exit strategy?

Answer 1

Outsourcing:-

It is the process of contracting a business function or any specific business activity to specialized agencies.
Mainly the non-important areas such as sanitation facilities, security, household, pantry, etc are outsourced by the company.
The company makes a formal agreement with the agency.
The agency then sends the manpower required to the company.
The agency charges the company for their services and in turn pays wages to their employees
With the help of outsourcing, companies can focus on their core areas which leads to better profits and increase the quality of their product
Advantages of outsourcing:-
1) Overall cost advantage
2) Stimulates Entrepreneurship, Employment, and Exports
3) Low Manpower Cost
4) Access to Professional, Expert and High‐quality Services
5) Investment Requirements are Reduced
6) Increased Efficiency and Productivity
7) Knowledge Sharing:- It helps develop both the companies and industry also.

Disadvantages of Outsourcing:-
1) Lack of Customer Focus:-
2) Threat to Security and Confidentiality:- The inside news of the organization may be leaked to the third party and the leak of sensitive information may result in losses to the company.
3) Dissatisfactory Services
4) Ethical Issues
5) Misunderstanding of the contract
6) Lack of communication
7) Poor quality and elayed services amongst others.

SECaas(Security as a service):-
It is an outsourced service wherein an outside company handles and manages your security.
the simplest example of security as a service is using an anti-virus software over the Internet.

Advantages:-
1) You work with latest and updated security tools that is available upto date.
2) You get the best security people working for you.
3) Faster provisioning
4) Save on costs

Examples of SECaas offerings:-
Disaster recovery and business continuity
Continuous monitoring
Data loss prevention
Email security
Encryption
Identity and access management
Intrusion management
Network security
Security assessment
Security information and event management
Vulnerability scanning
Web security

RFP:-

RFPs (Request for Proposals) are most effectively prepared using pre-defined standards that provide content guidelines.
High Quality RFPs = High Quality Responses
Components:-
1) Make Introductions
2) Present the Need
3) State Requirements
4) Set Terms and Conditions
5) Set Expectations

Good exit strategy:-
It tells us that it is an entrepreneur's strategic plan to sell his or her ownership in a company to the investors or another company

Different types of strategies:-
1) Merger & Acquisition (M&A):- Merging with a similar company, or being bought by a larger company.
2) Initial Public Offering (IPO):-Shareholders are demand, and liability concerns are so high. So i don't recommend this approach to startups these days.
3) Sell to a friendly individual
4) Make it your cash cow:- find someone you trust to run it for you.You retain ownership and enjoy the annuity.It seem to need constant feeding to stay healthy.
5) Liquidation and close:-It is simply to shutdown, close the business doors, and liquidate it.