A security operations center (SOC) fulfills specific and important functions to strengthen the cybersecurity defenses of any organization. This dedicated unit of cybersecurity experts provides a core set of security capabilities, including risk management, incident management, compliance assessments, in-depth behavior and threat analysis, and situational security awareness. SOC as a Service (SOCaaS) uses a different model to provide companies with SOC capabilities without the need to find the right talent or invest heavily in other setup costs.
The problem many companies face today is that building a formal, centralized unit responsible for dealing with security issues at a technical and organizational level is not exactly easy. Talent shortages continue to plague the cybersecurity industry, so finding and retaining the right people while managing costs is a never-ending struggle.
But what exactly is SOC as a Service and what can you expect from it in terms of benefits for your cybersecurity program? Continue reading to find out.
What is SOC as a service?
SOC as a Service is inspired by the cloud service delivery model to provide enterprises with a subscription-based managed SOC. In other words, you get essentially the same capabilities as an in-house SOC team, but without the cost and complexity of doing it yourself. Analysts and engineers use a host of sophisticated tools to monitor their security operations.
The combination of people, process, and technology required for an effective SOC is out of reach for many companies. Furthermore, even for companies that have invested in trying to build a dedicated SOC, alert fatigue wreaks havoc on their security operations. In today’s high-volume threat landscape, 44% of alerts they are not vetted by internal SOCs struggling to deal with the patchwork of point solutions that often overlap their SIEM tools.
In a 2020 survey, only 50% of respondents rated their SOC as highly effective. An effective SOC is key to your cybersecurity strategy, but the statistics clearly show that the predominant internal implementation is not paying off as it should. SOC-as-a-Service offerings typically provide full scope SOC capabilities to small businesses or supplement security capabilities for internal teams.
Benefits of SOC as a Service
In the context of a challenging threat landscape and dynamic IT environment, the SOCaaS model is an attractive option. Here are some of the main benefits companies see when opting for SOCaaS:
- Accelerated detection and response times— You get a team of security experts out of the box with the tools and processes to minimize alert fatigue and speed time to detect and respond to security incidents.
- Reduced data breach risks – With faster detection of security events, your SOCaaS provider can help you contain those events before they become breaches, saving you a lot of legal, reputational, and recovery headaches.
- Improved compliance—SOCaaS providers bring detailed knowledge and experience of different data privacy regulations, which can help improve HIPAA and PCI DSS compliance within your IT environment.
- Flexible consumption—As with other IT services inspired by a cloud delivery model, SOCaaS has a flexible consumption model where you can quickly scale capabilities up or down based on security gaps and priorities.
- cost reduction – An obvious but important benefit is the cost savings of paying for a SOC on a monthly fee compared to the high capital and operating expenses of an in-house unit.
- Faster time to value—even if you have the budget to do it in-house, it may be years before you see the value of your investment in SOC. With SOCaaS, you start seeing value with enhanced security defenses much faster.
What to look for in a SOCaaS provider
A SOCaaS provider plays a critical role in protecting your environment by monitoring and managing EDR solutions, intrusion detection systems, firewalls, and SIEMs, among many others. Not all SOCaaS offerings need to cover all of these disparate systems; you may have the ability to meet security needs in certain areas. In any case, given the responsibility that you delegate to a SOCaaS provider, it is important to know what to consider when selecting the right partner.
The threat landscape changes all the time. A SOCaaS provider that focuses on outdated threats does not position your company to monitor, detect, analyze, and mitigate security threats, no matter how good your tools and processes are. Adaptability must also reflect the growing needs of customers so that the resources available to your business can be adjusted without much inconvenience.
Every company has its own unique security requirements and it is important that service providers work with this to tailor their solutions. Additionally, the degree of customization must extend to business goals so that SOCaaS providers do not interfere with or disrupt your processes in a way that gets in the way of achieving those broader goals.
Standards Framework and Alignment
Ideally, you should look for a SOCaaS provider that closely aligns its operations and processes with well-established cybersecurity frameworks. When outsourcing the beating heart of your security operations, you must trust that the service provider operates with the highest standards of security and data privacy. Examples to look for include the NIST Cyber Security Framework, ISO 27001, and CIS Critical Security Controls.
Strengthen your security posture with SOCaaS
By consolidating security tools and systems into a single point of control, SOCaaS helps you better deal with threats and overcome alert fatigue without the resource burden of working in-house. The expertise of security experts and a data-driven approach give your security defenses an edge with greater visibility, insight, and proactivity.
Contact Nuspire today to learn more about how 24x7x365 SOC support can help your business.
*** This is a syndicated Security Bloggers Network blog from Nuspire written by the Nuspire Team. Read the original post at: https://www.nuspire.com/blog/a-beginners-guide-to-socaas/