In today’s cybercrime-heavy world, in which the stats’, the metrics, and the trends are constantly working against us, we simply can’t disregard the importance of a SOC team. Why? Because today, more than 80% of businesses are hit by a phishing scam. 50% by malware. 25% by ransomware. Most experienced massive losses, the average cost of a data breach is a staggering $4.5 million — an increase of over 6.7% from less than a year ago. Opting for a managed SOC team, right now, isn’t an option but a necessity. Today, how things are progressing, businesses simply can’t neglect their cybersecurity. In this article, we’re going to tell you what a managed SOC team is? What does it do? And why you need this kind of service.
What is Managed SOC
Managed SOC, or simply SOC, is a subscription-based service by which your organization is outsourcing its cybersecurity efforts. This includes threat detection, threat response, and your general Network Security Architecture — your defense blueprint against cyberattacks.
SOC stands for Security Operations Center. It is one of the many services right now that is helping companies shore up their mainframes and their digital environments against unwanted intruders. A SOC team can provide you with 24/7 monitoring, state-of-the-art equipment, expert advice, and professional staff, without the need for significant investment on your part. In other words. you won’t have to fund a new wing of your IT department — no software, no new hardware, no new infrastructure. The whole premise of a managed SOC solution is that it is fast, cloud-based, efficient, cost-effective, and non-disruptive to your day-to-day activities.
What does Managed SOC Include?
Depends on the company you hire. At the very least, a managed SOC team should include 24/7 real-time monitoring. From that point, from that base service, well the sky’s the limit. Some teams and organizations only add the bare minimum, others have a more premium service with killer upgrades.
It all depends on what you need, what your budget can afford, and what you are comfortable with.
For example, an off-site SOC team could serve as backup to your own security measures and what your staff has already implemented into your infrastructure. It could devote itself to simply being a safety net for what you are already doing.
Other times, depending on your needs, the size of your team, and what your products and service are, SOC teams can also implement countermeasures and educational seminars/training for your whole organization. Seminars on how to avoid phishing scams, how to improve your digital dynamics and how you behave on the net, and how to safeguard your devices, etc.
Who May Need Such a Service?
Right now, unless you’re not connected to the net and your business is completely isolated from that wonder, then you and everyone you know needs a managed SOC team. Why? Because ransomware alone – just one of the branches of the cybercrime industry – is a $14 billion worth empire. Over 215 organizations reported a breach of this kind — which not only affected their bottom line, once they had no choice but to give in to the demands, but actually cost them millions of dollars due to the downtime associated with such an attack.
Right now, cybercrime is an incredibly profitable, low-risk, activity. There is little to no oversight, huge technological breakthroughs, and a massive amount of talent. It’s one of the industries with the fastest growth rates at present — one whose scale is correlated to how all other businesses embrace and migrate into the net.
Whether it is an in-house SOC team or one you outsourced, you need someone guarding your back and your digital dalliances.
Benefits of Managed SOC
Let’s talk a bit about the advantages, the pros, of a fully managed SOC team.
Immediate Access to Cybersecurity Services
You hit the ground running. No need to wait until you have a proper setup or until your staff adapts to the learning curve. Once you sign a contract with SOC you have quick access to most of their tools and their expertise. Depending on the service you bought, some tools will take time to set up, but they will cover you with the basics — while your new team does a complete audit of your organization and gives you more personalized hardware and software.
Setting up an actual SOC team, with your own money, that works under your supervision, and is completely yours is extremely costly. The technological infrastructure, not to mention the hiring process and monthly paychecks will drill a hole in your bank account. Hiring one or subscribing to a third-party service is incredibly affordable when compared to that scenario.
As you grow, so will your cybersecurity needs. With a couple of add-ons, your subscription service can change. You can include other features besides the ones you previously employed. It’s incredibly easy to scale up.
Access to Multiple Threat Research Databases
Quick question, do you know who the current go-to hackers are? Are you aware of where most attacks originate from? Do you know the location or IP address of troll farms? Are you up-to-date with the latest tech and operating system updates? SOC teams eat and breathe this type of information. Every single day, they are updating their tech and systems.
Why Are Managed Soc Teams Your Best Solution?
They are your most comprehensive, easy to navigate, and fast solution. SOC teams give you incredible protection for a low monthly cost and all it takes is a simple click on your part. In less than a couple of minutes, you can gain peace of mind knowing that at least one of your verticals or departments is working like a well oiled machine.