As per a study, cybersecurity breaches will cost organizations worldwide an estimated $10.5 trillion annually by 2025, up from $3 trillion in 2015. If your organization is a small scale or a mid-size, then it is more prone to cyberattacks. Even Accenture’s Cost of Cybercrime Study states that 43% of total cyberattacks are targeted towards small businesses and only 14% are prepared to defend themselves. After the pandemic, the shift in company operations, and due to work from home structure, the security breaches are at an all-time high and organizational data is more vulnerable than it ever was. It is now pivotal for organizations to have a robust strategy against cyberattacks and a dedicated team of cyber experts to defend these cyberattacks. A 24/7 security operations center (SOC) is a necessity for an effective cybersecurity strategy. Organizations can either build an in-house SOC or opt for a SOC as a service provider.
In-House V/S Outsourced Security Operations Centre (SOC)- Which is Better?
We now know how essential is to have SOC to safeguard your business from online threats. However, many aspects come to the light when implementing SOC such as the cost involved, expertise, latest threat awareness, and resources. Having an in-house team of SOC is not ideal for many businesses due to the cost and time involved in it. And for some businesses, outsourcing SOC or going to SOC-as-a-service provider creates concern about their critical business data.
In-house SOC: This is a suitable option for organizations for whom the integrity of their data is a prime concern. Opting for in-house SOC gives them the confidence that their data is safe. However, forming a SOC and making it fully functional requires a lot of time, money and to be fully be updated with the latest technology and threat all the time, which many organizations cannot afford. It can take years to earn a return on the investment on an In-House SOC.
Also, SOC implementations are very complex and expensive, which makes it out of reach for many organizations.
SOC as a Service or Outsourced SOC: For most organizations, an outsourced SOC proves an effective solution as it does not need a separate capital and a team that works 24*7. A SOC as a service is an easy way for organizations to get immediate benefits from already professionally built SOC and leverage its infrastructure, team of experts, and latest technological advancements to prevent cyberattacks on a subscription basis reducing the expenditure on SOC.
Understanding what is SOC as a Service
SOC-as-a-service is offered as a subscription-or software-based service to prevent organizations from the latest security threats across on-premises networks, cloud environments, SaaS applications and endpoints, and event logs. It provides 24*7 cyber threat monitoring and response service for advanced cyber threats.
Benefits of SOC-as-a-Service
SOC as a Service comes with several benefits that are:
- Reduced Cost: Companies opting for SOC-as-a-Service had to pay a fixed price to the providers as a monthly operating expense, linked to their usage. It largely reduces the cost of maintaining SOC while taking the pain of CAPEX and OPEX investment away from the customer.
- 24*7 Monitoring & SLA Management: Cyber risks and malicious attackers are active 24*7. Therefore it is essential to have programs that scan the network all the time and a team that eliminates threats when detected to stop its spread across the network. A Managed Security Services provider operates SOC 24 hours a day, seven days a week, in line with the SLA mutually agreed by the organization and service provider. The SLA makes it possible for the organizations to remain updated with the appropriate software patches and updates as they are introduced so that measures against a new risk can be implemented.
- Faster Detection and Mitigation: SOC-as-a-Service providers take off the burden from in-house security teams. These SOC teams are equipped with cutting-edge technology with built-in threat intelligence and advanced analytics that lead to faster and more efficient detection of threats and quicker mitigation.
- Increased Business Agility and Scalability: Businesses grow at a higher pace now and with the inclusion of remote working and expanded service offerings, security practices need to be upgraded to keep up with these changes. SOC-as-a-Service allows secure growth as businesses can modify and scale their SOC consumption as per their requirements.
A SOC as a Service Provider is all you need
Today, most businesses have moved to the cloud. With this growing adoption of cloud services, the threat of cyberattack has increased tenfold. Also, most businesses use hybrid cloud deployment that consists of both on-premises and cloud-based infrastructure, which creates room for newer and complex security challenges. Here is when SOC-as-a-service plays a pivotal role in helping organizations protect them from online threats. This has given an enormous rise to the SOC market. There are plenty of SOC service providers in India. ESDS is one such organization that provides Managed SOC Services. ESDS has been at the forefront of enhancing various organizations' digital and cybersecurity posture through its best-in-class SOC Services.
Sattrix Information Security offers managed SOC services, long hours of vigilance work for you to secure your organization.Read more : Managed SOC Services – Long Hours of Vigilance
