How to Navigate the Virtual CISO (vCISO) Market Strategically

The shift to the digital, interconnected economy in recent years has underscored the importance of cybersecurity for organizations of all sizes. Many business leaders understand now that security risk is a business risk. And they’re relying on the internal experts — whether it’s technology, security, finance, or compliance leaders — to make cybersecurity a strategic part of the business. 

This shift has raised the prominence and important role of a CISO within the organization. Bringing in a full-time CISO, however, may not be viable — or even necessary — for some organizations.  

Even if it is viable, recruiting a skilled CISO may be a struggle, and not just because the demand for this role has grown dramatically. Currently, the cybersecurity industry is experiencing what some have called the Great CISO Resignation. Increased burnout and rising job pressures, among other things, are driving security leaders to exit their profession in masse. 

To help fill the gap, many organizations are outsourcing their CISO function to outside security leaders for security consulting, typically called virtual CISOs (vCISOs). But navigating the market for security consulting services can quickly get confusing. Here’s what you need to know. 

What is a Virtual CISO (vCISO)?

A virtual Chief Information Security Officer (vCISO) is an outsourced security expert or team that provides cybersecurity leadership and guidance to organizations without requiring the commitment or expense of a full-time, in-house CISO.

The various security consulting marketing labels 

When you’re looking for an outside security expert, you’ll likely encounter a half-dozen or so variations of the name. Virtual CISO (vCISO), fractional CISO, CISO-as-service, on-demand CISO, augmented CISO — what’s the difference? And which model is best for your organization?  

As the great Bard once implied, a rose by any other name is still a rose. The same is true for the vCISO market. Essentially, you’re purchasing security consulting services. What the services are called is less important than who offers them and what core capabilities they bring.

Types of vCISO providers, models, and services 

The vCISO service may be offered by an individual consultant, team, or platform-based marketplace. Some of the most common providers are: 

•  Cybersecurity service providers: These experts specialize in cybersecurity and offer a breadth of services that range from strategic guidance to 24/7 security monitoring, threat detection, and incident response. The advantage of working with a cybersecurity service provider is that they can provide more than just expertise from operators in the field — they offer a comprehensive solution that both protects your organization and boosts your overall security posture. 

• Insurance companies: Cybersecurity insurance carriers often offer a range of consulting services as part of their policies, and some are adding in-house vCISOs to consult with policyholders. Keep in mind that these services may have a narrow focus designed to protect the insurer as much, if not more, than the policyholder.   

• Business and professional services consultancies: Companies that specialize in strategic business services (such as compliance firms and accounting firms) may offer a vCISO as part of their risk and compliance advisory. These vCISOs may be more focused on helping you navigate and comply with industry-specific regulations vs. improving your security posture overall. While ensuring compliance is instrumental for your business, compliance doesn’t equal security. On the other hand, robust security helps you maintain compliance — which means that vCISO services from a cybersecurity service provider can help you achieve both. 

vCISO service models 

The models for vCISO services are as diverse as the labels. Typically, you’ll find: 

• Hourly rate based: Consulting firms and specialized cybersecurity service providers offer access to a pool of seasoned security professionals for ad-hoc consultations. You access these fractional services as you need them, much like you would consult with a legal or tax professional. 

• Project based: Another option offered by consultants and cybersecurity providers is an engagement for a specific project. This model allows you to accomplish a specific initiative such as creating a security strategy or executing a technology rollout. 

• Subscription based: These models allow you to access cybersecurity expertise on an ongoing basis. You have both flexibility and scalability because you can adjust the level of service based on your evolving needs and budget constraints. 

Typical services offered by vCISOs

The types of services offered by vCISOs range from one provider to the next, but typically, your options may include: 

• Risk assessment and planning 

• Compliance policy development and implementation 

• Security governance framework development 

• Incident response and management 

• Security awareness and training 

• Security technology management 

• Data privacy and protection 

• Continuous assessments and audits 

How to evaluate vCISO options strategically 

Whether you are a startup looking to create a robust security posture or an established enterprise seeking to enhance your existing security framework, a vCISO can be instrumental to your security program.  

If you want to get the most value from outside expertise, we recommend looking for a service that achieves three outcomes: 

• Strengthens your cybersecurity posture 

• Mitigates potential risks 

• Leverages security technology as a proactive force in safeguarding your environment 

To meet these outcomes, look for these core capabilities as you evaluate vCISO services: 

Risk management 

It’s not enough to identify risks that can compromise the confidentiality, integrity, and availability of your information assets. You need to assess and prioritize them based on your organizational goals. Comprehensive risk assessments allow you to quantify potential threats and strategize on mitigations to ensure your risk posture aligns with those goals. 

Risk management should be right-sized and customized to your organization based on criteria such as size and the probability of a risk occurring. To ensure you’re getting the biggest bang for your security dollar, look for a vCISO who can help you prioritize and address the most important risks first rather than overwhelming you with a list of risks that you’ll never address.  

Operational excellence 

Operational efficiency helps you build a resilient cybersecurity program. This requires constant refining and optimizing of operational technologies and processes. Indicators that the cybersecurity service provider champions operational excellence include enhanced incident response capabilities, consistently fine-tuned security controls, and a culture of continuous improvement.  

Technological optimization  

The technology landscape is dynamic. To ensure your cybersecurity measures remain robust and adapt to the evolving threats, your vCISO should continuously help you to: 

• Understand how well your security tech stack is working 

• Identify gaps in your defenses 

• Optimize your security tech stack 

• Evaluate and deploy new security solutions as required 

Your vCISO also needs to stay at the forefront of technological advancements. Ask your potential partner how they will help you keep up with the changing landscape, deploy technology strategically, and integrate cutting-edge security solutions. 

The Digital Hands difference 

The Digital Hands vCISO program was designed in response to the dynamic nature of cyber threats. Our comprehensive, focused solution can be tailored to your needs to help you optimize security investments, reduce risks, and improve incident response.  

Our goal is to make your organization more cyber resilient, not just compliant.

When you partner with Digital Hands, you gain: 

• Tailored security strategies that align seamlessly with your organizational objectives 

• Proactive risk management so you can implement targeted security controls and measures to mitigate risks effectively 

• Incident response and preparedness to help you plan for incidents and respond effectively  

• Strategic technology management to fortify your organization’s technological ecosystem and align your security infrastructure with your business objectives 

• Leadership and guidance for your in-house IT and security teams so they can stay up to date with the latest threats and best practices 

Cybersecurity is not about checking a compliance box — it’s a strategic business driver. Look for a seasoned vCISO partner who understands how security can drive your business forward — and you’ll be ready to face whatever challenges the cybersecurity landscape brings next. Get started today.