Due to digitalization and cloud migration, organizations have been exposed to more risks. FTC Federal Trade Commission recorded 4.8 million identity theft and fraud reports in 2020, up 45 percent from 3.3 million in 2019. Cybercrime costs the global economy about $1 trillion. The average cost for a data breach was $4.24 million, up from $3.86 million in 2020. Among all the industries, data breach costs are higher in the healthcare sector at 7.13 million dollars. The growing attack surface and lack of specific skills have created barriers for security teams and made security operations more complex. Many companies are storing data and applications on data centers and cloud systems. The In-house SOC implementation is complex and expensive to maintain in the long run. Therefore, an outsourced SOC or SOC as a service is the best possible solution that ensures 24×7 monitoring of devices, networks, and cloud environment to prevent threats proactively. Managed SOC is a very cost-effective way to provide visibility and security within the organization.
What is a Managed Security Operations Centre?
The migration to the cloud and the evolution of MSSPs have paved the way for organizations looking for a cost-effective way to manage security operations. The MSSPs provide a managed SOC or SOC as-a-service with cyber security professionals to monitor log data, systems, cloud environment, and network. It eliminates the issue of hiring employees with specific skill sets to operate in-house SOC. A managed SOC service is a cloud-based service that employs people, technology, and processes to manage the systems and networks of an organization externally.
Benefits of outsourcing SOC or SOC as a service
24/7 monitoring of security events:
Managed SOC service providers give the organization a context about security events and incidents with informative dashboards. Managed SOC services to reduce the workload of security teams and automate the threat detection and response process. It provides visibility in a single pane of glass with 24×7 monitoring of security events.
Improved scalability and automated threat detection:
Organizations are expanding quickly with cloud adoption, the Internet of Things, and the remote workforce. The outsourced cloud-based SOC service is a scalable solution to meet the needs of an organization. MSSPs deploy a threat intelligence platform to provide context about incidents and automate the threat detection process. Automation helps MSSPs to share alerts in real-time with assigned actions.
Cost-effective solution:
The complexity of operating in-house SOC and maintaining it, in the long run, is a difficult task. The Managed SOC is a cost-effective solution as the organizations only pay expenses for the outsourced services, equipment, and licenses to the MSSPs. It reduces capital and operational overheads for the organization.
Early implementation of new technologies:
MSSPs can readily afford new tools and technology, such as artificial intelligence to deliver better results. MSSPs encourage the implementation of new tools at lower costs which helps an organization make more mature security operations.
Mature security operations:
Organizations partner with MSSPs to access their full-stack solutions and cyber security experts to perform mature security operations. Managed SOC service providers keep updated tools and resources to combat threats and vulnerabilities. It increases confidence in internal security teams as the MSSP only sends important alerts while eliminating false positives.
Access to cyber security experts:
MSSPs have a team of security experts with specific skill-sets to monitor security events and mitigate threats. These experts are available on a 24×7 basis to assist and give suggestions to the organization for planning and designing security operations more efficiently. A co-managed SOC starts a journey for companies of all sizes to mature security decisions.
Automation and improved security offering:
Cloud deployment using automation eliminates the task of setting up firewalls. The MSSPs can pre-configure security appliances in the cloud and ship them to customers who can easily power them on with an internet connection. MSSPs deploy different modules for incident response and orchestration without installing a complete layer of orchestration for every client.
Why Sattrix’s managed SOC as a service?
Sattrix is one of the top managed security services providers with flagship-level offerings of managed services like managed SOC, vulnerability management, managed detection and response, patch and device management. Sattrix has also partnered with other providers to give hybrid SOC services. The offering includes security experts equipped with skill-sets and deep understanding to perform analysis, monitoring, and proactive threat hunting.