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SOC as a service is one of the most important tools a company has right now. Why? Because as of 2020 cybercrime is on the rise. Reports of cybercrime, scams, and viruses have increased – according to a report done by the FBI – by over 69.5% in a year. The FBI reported losses that exceed $4.2 billion. The uptick is partly due to the pandemic and the COVID-19 virus. Businesses had no other option than to bulk most of their enterprises into e-commerce and implement fast bivouac actions plans to manage their staff, now working at home. They had to act fast and sacrifice part of their security to implement these changes. Fraudsters and villains saw this as a golden opportunity and started targeting both businesses and individuals. To meet the challenges, SOC, Security Operation Centers as Service, started to become a growing trend. They became essential to safeguarding a business’ assets and protecting its brand — not only on account of their efficiency and professionalism but because they were a cost-effective alternative to having an in-house digital security team.
What is managed SOC as a service?
A Security Operation Center, otherwise known as SOC, is a team that works within the confines of an organization and is responsible for detecting, preventing, responding, and investigating all types of cyber -threats. They employ highly skilled people and technology to constantly monitor and improve a business’ security directives and overall posture when faced with a threat.
Nonetheless, most companies have realized that having an in-house SOC team is a time-consuming activity that is not affordable. There’s a talent shortage on the market right now, which means that securing trained and skilled personnel – and retaining them – is not only difficult but expensive. There’s a constant need to update your infrastructure, which, aside from the initial investment, means continual refurbishing. And, finally, there’s the problem of maturity — a team needs time to learn, not only about your threats, but develop protocols, and find ways to coordinate efficiently with one another. They require training.
As such, most companies recognized that having an in-house SOC team wasn’t cost-effective. Still, they need security solutions to address and partly mitigate potential threats. They need effective and professional help to safeguard their systems. They started to outsource this branch of their infrastructure and began hiring Security Operations Centers as a service provider —— a third-party team with full services that takes responsibility for round-the-clock monitoring and defense.
How does SOC as a service work?
SOC as a service works in the same vein as a tangible security teams or office guards — only instead of dissuading, preventing, and counteracting physical intruders, they focus on cybercriminals and digital attacks.
They not only do the “rounds” and inspect that your property is secured, but they also implement technology to alert them of a breach. And, like your physical security team, they are trained to attack in the event of an intrusion. Learn more about how SOC as a service works at clearnetwork.com.
Does a SOC as a service team replace your IT teams or security department?
No.
A SOC as service team doesn’t replace your IT team, nor does it supplant your in-house security team. They only deal with cyber threats and your digital security. Whether your platform is working properly or needs to update itself so it allows other APIs is of no concern to the SOC team.
What tools are employed by SOC as service teams?
SOC as a service team is staffed by highly trained individuals with a vast amount of experience when it comes to cybersecurity. As a whole they present an all-encompassing service that not only prevents intrusions but responds to them, attacks in kind, and – more importantly – dissuades criminals. They make it hard for a criminal to enter by brute force and deter their incursion, transforming their gambit into an economically in-viable exercise. In a sense, they work under that old premise: what do you do if a bear charges at you and a friend at camp? — you don’t have to outrun the bear, just your friend.
The main tools from a technological perspective used by SOC as service teams:
- Security Information and Event Management (SIEM).
- Governance, Risk, and Compliance systems (GRC)
- Vulnerability scanners and penetration testing tools.
- Intrusion Detection Systems (IDS).
- Intrusion Prevention Systems (IPS).
- Wireless Intrusion Prevention (WIP).
Who needs a SOC as a service team?
Right now, if you’re a company that operates on the web, in any form, you need a SOC as a service team. Cyber-attacks are on the rise, and it is estimated that by 2024 industries will amass a collective $15 billion in damages. Here are some harrowing stats’:
- Only 5% of businesses have a strong digital security posture.
- 78% of companies lack confidence in their team’s methodology.
And, even more dreadful, on average, a cyber-breach may end up costing a company approximately 1.5 million dollars in losses. It’s not only the assets the company hemorrhages – information, data, actual money – but the way the brand is tarnished. A breach, a publicized one, will hurt a company’s market value and expose it to criminal malpractice suits.
If you’re operating on the net, even with a tiny e-commerce site – you need a SOC as a service team — the size of that team will depend on the size of your ambitions and digital footprint.
