What is SOC as a Service (SOCaaS)
When Salesforce launched its first CRM solution in 1999 as the first SaaS solution, no one could fathom how massively the SaaS industry was going to evolve.
Like any other business that needed an online presence to grow, SaaS companies were increasingly getting exposed to the onslaught of system infiltration attempts.
Instead of viewing cybersecurity as an investment, most were considering it an expense and would rather spin wheels with their budget on something else that is not cybersecurity.
As a by-product of the SaaS trend, the advent of soc-as-a-service business started offering protection for a monthly subscription fee. This is where the security operations center (SOC), a groundbreaking solution poised to redefine cybersecurity paradigms got incepted.
In this article, we will explore what SOC as a Service (SOCaaS) is, how it's changing cybersecurity and its integration with other platforms.
What is SOC as a Service (SOCaaS)?
SOCaaS, also known as Managed SOC, is a cybersecurity model where companies seek services from third-party providers. Instead of managing it themselves, they pay the provider to watch for security problems, find threats, and fix issues.
This service is good for companies that don't have a limited budget, knowledge, or tools to have their cybersecurity team.
How Do Managed SOC Services Work?
Managed SOC services keep organizations safe from online threats by hiring experts to watch out for problems and respond to them. Some of the services they provide include:
- Incident response;
- Cyber threat intelligence;
- Network and system monitoring;
- Managed Security Information and Event Management (SIEM);
- Endpoint Detection and Response (EDR);
- Cyber hunt;
- Logging-as-a-Service;
- SOC resilience;
- Forensics;
- Client portal for metrics and dashboards;
- Onboarding and customer support.
Initial Assessment
The process starts with an assessment of the client's infrastructure, existing security measures, and cybersecurity needs. This helps to understand the client's unique requirements.
Deployment and Configuration
The provider integrates the necessary tools with the client’s systems. This includes deploying security information and event management (SIEM) systems, Endpoint Detection and Response (EDR), intrusion detection/prevention systems (IDS/IPS), and other cybersecurity tools.
Continuous Monitoring
The systems are continuously monitored for threats and breaches by analyzing logs, network traffic, user behavior, and other security telemetry data in real time.
Threat Detection and Analysis
Threats can cause major damage to the company systems; therefore is necessary to use advanced threat detection software and techniques. These analyze security alerts, investigate anomalies, and determine the severity and impact of security incidents.
Incident Response
When a security incident happens, the managed SOC initiates an incident response process to contain the threat. Often, it will investigate and isolate the compromised systems, followed by applying security updates and coordinating with the client's internal IT.
Reporting and Communication
Whether or not threats occur, the provider ought to send regular reports to the client, detailing everything that happened in a stipulated period. It is through this that the provider suggests ways to improve the security system.
Continuous Improvement
It would be unhelpful for the company to take all this caution and not improve itself. All the improvement suggestions from the managed SOC provider must be taken seriously and applied.
Why Choose Managed SOC Over Traditional In-House SOC?
Often, organizations are torn between outsourced and in-house SOC. But, the misconception that outsourcing services are expensive is often unfounded.
The benefits of SOCaaS will always outweigh the subscription costs. Here are some of its advantages:
1. Access to Expertise without Hiring Internally
Unlike traditional in-house SOC, managed SOC gives you access to cybersecurity experts. This eliminates the need to manage personnel internally, saving time and resources.
2. Scalability and Flexibility
Traditional in-house SOCs have limited access to resources due to budget constraints, affecting their ability to perform well. Managed SOC services, on the other hand, can adjust their resources based on needs and threats, making them more reliable.
3. Advanced Technologies and Threat Intelligence
Managed SOC service providers use technologies, such as machine learning, AI, and threat intelligence feeds, to improve cybersecurity. This can be challenging for in-house SOCs, as it requires dedicated resources and expertise to stay up to date.
4. Compliance with Standards and Regulations
Industries have regulations and standards that companies must adhere to regarding data protection, privacy, and security. SOCaaS providers are already prepared to implement security controls that align with these regulations.
Why Should You Consider SOCaaS?
According to a report by IBM, the average cost of a data breach globally reached $4.45 million in 2023, and the healthcare sector experienced the highest average cost.
Cyber threats not only result in financial losses but also damage brand reputation and customer trust. Plus, the cost of restoring an organization after a cyberattack is significantly high, depending on the type of attack.
With a SOCaaS, the only expense you will cater to is a subscription to the provider. An in-house SOC, on the other hand, might be too pricey.
A research by the Ponemon Institute found that organizations with in-house security operations spend an average of 321 hours each week chasing false positives.
Moreover, a study by the International Information System Security Certification Consortium (ISC)² found that the shortage of cybersecurity talent exacerbates the challenges, as 56% of organizations reported a moderate to extreme shortage of cybersecurity skills.
With SOCaaS, you have a solution for these challenges. It gives your organization access to dedicated cybersecurity experts, cutting-edge technologies, and round-the-clock monitoring.
Your organization can save on time and resources that would have been allocated to an in-house team with little expertise. Furthermore, the flexibility and scalability that comes with SOCaaS is unmatched. It enables you to adapt to evolving security needs without the challenges of managing an in-house SOC.
When Should You Consider Using SOCaaS?
If your organization is struggling to keep up with the ever-evolving landscape of cyber threats, it is time to outsource to a reliable SOCaaS provider.
You should consider SOCaaS if:
- Your cybersecurity readiness is low, and you need quick improvement with third-party services.
- You've not invested enough in technology for an on-premises SOC.
- You don't have a secure space for an in-house SOC.
- Your security needs are variable, requiring a flexible approach.
- Your IT and cybersecurity team is too small or lacks the necessary skills for 24/7 security management.
With SOCaaS, you can harness the power of dedicated cybersecurity professionals and cutting-edge technologies without the hassle of managing it all internally.
How to Choose a SOC as a Service Provider
Choosing the right SOC provider can be a challenge when you don’t know what to look for. Consider the following to ease the process:
Experience and Expertise
You want to partner with a provider that knows what they are doing. Giving startups a chance is fine, but you can always go right with one that is already established in the industry. Most of the cybersecurity challenges you will face they have dealt with before, increasing the chance of countering them promptly.
Security Certifications and Compliance
Look for SOCaaS providers that hold relevant certifications demonstrating their commitment to maintaining high standards of cybersecurity. This includes SOC 2 Type II, ISO 27001, PCI DSS, and HIPAA.
Additionally, assess whether they comply with relevant regulatory requirements and compliance standards applicable to your organization, such as GDPR and FERPA.
Availability and Response Time
It would be unhelpful if you outsourced SOC services, yet the provider limits their availability. You want to deal with a provider that prioritizes your company’s cybersecurity 24/7. Check the provider’s availability before committing.
Customizability and Scalability
The provider’s flexibility and scalability depend on their access to resources. If they have limited resources, chances are they will not stay up to date with evolving threats.
Integration Capabilities
The provider’s SOC services should seamlessly integrate with your existing IT infrastructure, security tools, and workflows. Ensuring minimal disruption to your operations and allowing collaboration between teams.
Pricing and Contract Terms
Understand the provider's pricing model and how costs are determined. Some charge a flat fee based on the level of service, while others offer tiered pricing based on the volume of data monitored, the number of endpoints covered, or the complexity of services required.
Additionally, consider transparency and predictability of the pricing structure. Hidden fees can lead to budgetary surprises down the line.
As for the contract, review the terms carefully to ensure they align with your organization's needs and expectations. Pay close attention to the duration of the contract, renewal terms, and any termination clauses. Ask questions if you don’t understand anything.
Reputation and Customer Reviews
The best way to know how the provider performs is by checking what others are saying about them. Don’t commit blindly, trusting the provider’s word.
Data Privacy and Protection Policies
Check if the provider complies with data privacy and protection policies to ensure the safety of your data. You don’t want to deal with a lawsuit due to privacy violations.
Geographical Coverage and Data Center Locations
Consider whether the SOC as a Service provider has a global presence or if it operates within specific regions. Different regions have different compliance rules. Therefore, getting a provider who is conversant with the regulations is important.
Incident Management and Reporting Process
Confirm the speed of identifying, analyzing, and resolving security incidents during an attack. Also, consider the reporting process for timely response and mitigation.
Step Up Your Security Posture with CrucialLogics Managed SOCaaS
When it comes to SOCaaS, choosing a partner that prioritizes your organization's security is paramount. You want a partner that delivers exactly what they promise, and working with CrucialLogics assures you of this and more.
Comprehensive security is more than coverage. It is also about the best-in-country implementation with built-in intelligence and simplified management. Speak to us today to enhance your defenses with our Managed SOCaaS.
