Public-private partnership (PPP) can be a controversial concept but there are certain advantages that come with it. First, what are we talking about exactly? This kind of partnership is a collaboration between private companies that have progressive technologies and innovations to offer and the public institutions that are serving society. So, the public and the private sectors join forces long-term for the benefit of the general population.
Improving life quality and overcoming challenges is not just one nation’s perspective, it concerns all nations. That is why public-private partnerships’ influence extends beyond national borders.
Cybersecurity-wise, public-private cooperation means combating the cyber threat together. This is necessary because there are factors only the public side knows and has power over and vice-versa. We researched the advantages and the challenges that accompany this ambitious type of partnership. Here is what we found and highlighted for you:
Public-Private Sectors Interdependency
The public and the private sectors are designed to work in harmony and accelerate each others’ success. Generally, institutions are supposed to create laws that are encouraging companies to grow, while the companies, on their side, may benefit from the development of the institutional services. Ideally, a reliable cybersecurity strategy that is established by both the public and the private sectors players, eliminates the vulnerability of the critical infrastructures.
Building cybersecurity tools that are efficient requires big resources and for cyber experts is much easier when the government is sponsoring them. From the institution’s point of view is a good deal too because, at least in the beginning, they will have exclusive access to the final product.
The public sector can offer an incentive to the private company. For example, an institution can organize a contest and distribute rewards, promote a cybersecurity company’s campaign, or endorse its initiatives. As a result, both sides gain higher exposure.
Sometimes the businesses have various connections outside of their base country and by activating them they can enhance the local cybersecurity ecosystem. For instance, a vendor from the U.K. can work with cybersecurity experts from the U.S., and deliver a solution for an insurance company in Eastern Europe. Alternatively, governmental structures have diplomatic relationships with other countries and potentially form bridges between economies.
Raising the cybersecurity awareness level is also a mutual effort of both the public and the private sectors. A public organization might execute educational policies but often it is the private companies that deliver quality cybersecurity training and content.
Sometimes businesses do not take into consideration the needs of the whole population so the advantages of their services are limited to a group of people – the clients. Also, in order to counteract cyber threats, governmental bodies might request confidential information that private companies are not always willing to give.
If a private company bribes an institution, that company gets all the projects. There is a possibility of monopoly and losing control over prices and offers.
Too Many Standards
The public sector can have unrealistic requirements and standards that the contractor is not capable of handling. The working process can be slowed down even more by bureaucracy.
If something goes wrong regarding a cybersecurity regulation, the citizens will not go to the company and ask for compensation but they will go to the institution. Most likely, the institution cannot do anything in this case because they are not handling the project themselves.
After drawing the line, PPP is still promising an awaited cybersecurity economy boost. There are obstacles along the way but the bet is worth it.