9 Benefits of hiring a Third-Party Security Audit Company
9 min read
In one of our previous blog posts “Why is a security audit of mobile apps necessary?”, we had explained what a security audit is and why it is necessary to perform security audits of products on a regular basis. We had also discussed that a security audit can be done by a company’s in-house security team as well as by an external third-party security audit team. In this blog post we will discuss 9 reasons as to why it is not only easy but also necessary for companies to outsource security audits of their products to a third-party security audit company, instead of performing security audits themselves.
Table of contents
Benefits of hiring a third-party security team
More secure products
Better security threat and compliance management
Reduces security budget
Increased customer confidence and market advantage
More time to concentrate on core competencies
Unbiased assessment
Flexibility of resources
Faster audit results
Increased scalability
Bugsmirror is the best security team you will need
Benefits of hiring a third-party security team
Developing secure products involves a lot of aspects and it is difficult to take care of security aspects while managing deadlines for product development. Hence, company management needs to understand the following benefits of hiring a third-party security audit company that will take care of product security:
1. More secure products
Let’s assume that you have an in-house security team. Consider the following cases:
For highly regulated sectors like finance, insurance, healthcare, etc., where data breaches are a costly and critical issue, there is generally a regulatory requirement to get the products audited and certified by a third-party security company. This is very common in western countries and the trend is slowly picking up in India. Hence, even though you have your own security team, you may still have to opt for a third-party security audit of your product.
Suppose there is no regulatory requirement and your in-house team has done the security audit of your product. Even then, if you get an audit done by a third-party security audit team, it will only result in a much more secure product, as you will ensure that the most capable and competitive security company audits your product. Third-party security experts may uncover security bugs that your team might have missed and help you to better secure your products.
2. Better security threat and compliance management
Managing security risks is a growing challenge with new security bugs being discovered and new security threats emerging every day. Hence, if you think that you can develop a product that will remain secure for long, then you’re wrong as attackers are continuously finding new ways to attack and you need to be ready to face those new challenges. Also the rules, laws and regulations on product security, data protection and privacy, etc., keep getting updated. It may become difficult and time-consuming for your company’s people to understand the latest trends in the security field.
But you don’t have to sit and note down updates about the latest security bugs and vulnerabilities as well as rules and regulations about security. You just have to hire a third-party security team that does all the work of getting updated with the latest things in the security field. (Once you outsource security audits to a third-party company, it’s their headache not yours.)
Third-party security audit teams are experts at it and will fulfill all your requirements by:
- complying with the latest industry regulations
- maintaining their security processes up to date and
- finding new ways to secure your products.
3. Reduces security budget
Suppose you decide to have an in-house security team, then you will have to pay for:
- efficient security analysts
- security testing tools
- infrastructure for an additional team
- training the team on business requirements and for many more things
All this might cost you a lot of money, and as you expand your business, you may need to spend even more.
However, you can hire a security company to perform security audits for a much lesser cost. You can hire a reputed security services provider that has qualified security experts with a wide experience of doing numerous security audits.
Unlike your own in-house security team, you only need to pay the third-party security team for a limited period of time and can relieve them once their work is completed. Hence, you can save a lot of money on the above-mentioned costs and invest that money in development of better products.
4. Increased customer confidence and market advantage
A single data breach can ruin customers’ trust in your company forever. Customers only trust companies that have secure products as they cannot risk the safety of their personal data.
Third-party security companies will provide not just security services like performing security audits, but also certify that your product has been tested for all the requirements of a secure product. This will increase customers’ trust in your company, they will acknowledge the fact that you care about their security, and hence buy more of your products. This will also give your company an advantage over your competitors, as customers naturally prefer more secure products.
5. More time to concentrate on core competencies
In today’s competitive world, for all companies, big or small, it is necessary to make products that stand out from the crowd. This will be possible if they concentrate more on their core competencies of product development. But not possible if their product has any security bugs.
Hence, companies should hire a third-party security vendor that will take care of all the security aspects of their products and they will have more time to concentrate on making their product the best in the market.
6. Unbiased assessment
Your in-house security team might be biased in the way it performs audits of the products. The decisions might change depending on how the audit report reflects the shortcomings of a particular department, and the actual results of the security audit may not come out.
A third-party security company will rigorously and in an unbiased manner detect security bugs in your product.
7. Flexibility of resources
Small businesses and early-stage startups do not have resources such as time and infrastructure to build a skilled in-house security team. Most of the time, such companies neglect security bugs or believe that their developers would have implemented best practices to develop secure products.
Other companies may have an in-house security team, but its members may be less experienced, which can result in less secure products.
For all the companies mentioned above, it is much more convenient to hire a third-party security team. Hiring a third-party vendor will allow companies to allocate more resources for product development.
8. Faster audit results
Company management may have certain concerns like if they hire a third-party team, there may be lack of proper communication between them and the third-party team, misuse of the information provided, lack of control over the work, etc. To avoid all these issues, you should wisely choose a trusted security company with a proven track record.
A third-party team will not only provide more secure products but also in a faster time frame than your in-house security team as a third-party team will work more efficiently on securing your product than your own team, which may finish the work somehow to meet deadlines. Also, outsourced security teams are likely to deliver on time as they want more business from you and referrals.
9. Increased scalability
Many times, scalability becomes an issue for companies, as with the increase in product output, the input of quality development and security should also increase multifold. And companies may not be able to quickly increase the quantity and quality of their in-house security team members. Hence, when you outsource security audits to a third-party company, it is up to them to manage people needed to properly test the security aspects of your product. You can then freely focus on scaling up your business.
Bugsmirror is the best security team you will need
It’s a myth that third-party security audits will cost more than audits done by in-house security team. In reality, you need to pay third-party companies only when you require their services whereas you should continuously pay your security team, even when there is no testing or audit work. Budgeting for security isn’t an extra expense, as it might seem at first, but it is an investment to protect your company from any financial and reputational losses.
Market is flooded with companies offering security services, but there are many things that set Bugsmirror apart as a security services company:
1. Bugsmirror is a premier research-based security services company with more than 4 years of expertise in the field of Android security. We analyze products such as apps using our in-house developed tools and algorithms to devise the best plans for improving security of the products. Our research-based techniques of finding security bugs and vulnerabilities has helped us discover new bug types and we have collected immense data on various bug types, which enables us to better secure the products of our clients.
2. Bugsmirror team has been the world’s top contributor to Google’s Android Vulnerability Reward Program for two consecutive years: 2021 & 2022. We have discovered & submitted over 500 security vulnerabilities to the program and are no. 1 🏆 among 650+ paid Android security researchers from 60+ countries.
We were also the world’s leading contributor towards finding security vulnerabilities in the Android 13 OS. We reported 49 security bugs in Android 13, which was 400% more than the second highest contributor. Google has acknowledged our contributions to Android security as crucial.
3. Our team has been closely working with the Android security team for the past 4 years. We are aware of intricate security vulnerabilities present in the Android OS, which might not be fixed soon. Even if a company fixes security vulnerabilities in their products, they could still be compromised using vulnerabilities in the Android OS. Worry not, Bugsmirror has the solution! We personally guide companies’ development teams to write code in a manner that will inoculate their products from existing & future vulnerabilities in the Android OS. Then the security vulnerabilities in Android OS will not weaken the security of the current versions of your products.
Bugsmirror has worked with national & international MNCs & Startups across diverse sectors such as IT, Fintech, and healthcare. We aim to be a security advisor, find gaps in security, and help businesses secure their products from being attacked by providing them with the best security strategy.
Bugsmirror caters to all types of companies, whether they have an in-house security team or not. Bugsmirror can perform security audits of your company’s products before their launch as well as after their launch. We are flexible to provide one-time services and continuous services as per your company’s requirements. To secure your products and increase your profits, click here!
Still not sure why Bugsmirror is the best third-party security company to secure your products? Then why not take a Free Trial of our services. Click here to test your product with our cutting-edge tool and get a free security analysis report of your product with details of the security bugs found, actionable recommendations to fix them and much more.
Comments
Post a Comment