July 15, 2006
IT Security Outsourcing
The US companies that outsource their IT security functions, has significantly contributed to the volume of off-shoring business. A survey conducted on the US companies indicated that they allocate their security functions to third party companies. The amount of work sent overseas in some cases have doubled in recent years.
It has been reported that companies with an average revenue of less than $10 million outsourced 8 percent of their security functions overseas. Last year, it was only 4 percent. Large companies have witnessed a sharp increase in outsourcing. They send 15 percent of their security functions offshore. Even though the volume of security functions sent overseas moved up, the number of US companies that use outsourcing has remained stable.
This year, 39 percent of the companies surveyed indicated they farm out varying degrees of their security work, compared with 37 percent last year. In a preview of the survey last month, Robert Richardson, editorial director at the CSI, also noted that there was a decline in financial losses due to cyber crime in 2006 and fewer security incidents than in previous years.
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