One of the most impressive pillars of any digital business or enterprise is its cybersecurity team & its robust plan. Since cyber threats are rising, enterprises are constantly evolving their SOC service. But every enterprise does not have a dedicated in-house SOC team to maintain security tools, monitor networks & services, update security compliance, etc.
That is where Managed SOC services come into the picture. Small and medium-sized enterprises can opt for Managed SOC services to eliminate unnecessary costs while providing complete security through third-party specialised SOC professionals. This article will give a quick walkthrough of Managed SOC services and their importance concerning the current threat landscape.
What is Managed SOC service?
Managed SOC service is a remotely managed SOC service provided by third-party security vendors and providers. They are responsible for observing, controlling, identifying, and preventing any cybersecurity threat that might pose to their client organisation. These service providers dedicatedly manage all these security services through specialised professionals.
According to the Markets and Markets research report, the Managed SOC service market will most likely reach 10.1 billion USD by 2027. It will reflect a compound annual growth rate (CAGR) of 10.5 percent from 2022 to 2027. Businesses often outsource these services to SOCaaS. They are flexible and less costly compared to the in-house SOC team. Most managed SOC services offer benefits like:
- Managed endpoint protection
- Security analytics
- Security information and event management (SIEM)
- Vulnerability management
- Continuous security monitoring
- Advanced threat detection & automated response
Why do organisations need managed SOC services?
Threat landscapes are constantly evolving. Hence, it becomes difficult for the organisation to keep up with the latest threats. Also, the in-house research and monitoring costs associated with new threat analysis are ever-increasing. That is where Managed SOC services help. Here are some pointers that will help you comprehend why organisations need Managed SOC services.
- Round-the-clock service: Attackers do not check the time to attack any live service or organisation's infrastructure. Therefore, Managed SOC services offer organisations with expert teams to manage security tools. It also helps monitor, analyse, detect, and respond to threats 24x7 in real time. Even though your organisation's employees are not working, SOCaaS are alive and active in securing your infrastructure and enterprise assets.
- Next-gen SOC service with advanced technologies: Managed SOC services leverage emerging technologies like Artificial Intelligence (AI), Machine Learning (ML), cloud GPUs, and automation systems to detect and respond to threats in real time. Training the ML algorithm with the right data sets will increase threat detection accurately. With a quick response and automated threat prediction system, AI-powered SOCaaS services can improve incident response time.
- Specialised security experts: SOCaaS also have dedicated professionals and experts in various respective cybersecurity domains. Even for an in-house SOC team, experts in the field of encryption, ransomware (negotiation), DDoS attacks, cloud security, etc., are necessary. But for small and medium-sized businesses, it might become costly to hire such experts. SOCaaS services come bundled with experts who can rescue your organisation from the latest threats.
- Reports and analytics: Regular cybersecurity analytics and threat reporting help organisations to understand the security postures & SOCaaS implementations. Through such analytics & reports, organisations can determine whether to incorporate new tools or expert guidance for additional security services. Timely reports & real time insights about threats help both SOCaaS vendors & clients with actionable insights into the latest attack vectors and respond to threats effectively. Also, proper documentation of all security postures and threat reports is essential that SOCaaS vendors provide as per the agreement.
- Stick to compliance: Security policies & compliance play an essential role in securing the organisation's infrastructure, data, and user details. Managed SOC services also help organisations & their clients remain aligned with compliance and regulatory requirements. SOCaaS providers follow regulatory requirements like SOC 2, HIPAA, PCI DSS, GDPR, etc. It helps the client organisation stay ahead of any lawsuit or fine.
- Scalability: Today's threat landscapes are dynamic. If the SOC team is not scalable enough to cope with a threat and mitigate any attack quickly, it can lead to financial loss and damage to reputation. SOCaaS are highly scalable as per attack potential. SOCaaS are cost-effective as organisations do not need to invest explicitly in buying security tools and techniques. Also, enterprises can cut the cost of hiring additional staff during crisis time to manage an incident.
We hope this article provided a crisp idea of what SOCaaS is and why enterprises need it to keep up with the current threats. Overall, Managed SOC services can deliver a comprehensive security service with scalability and expertise. It can also merge with the latest technologies to respond to the latest threats more effectively.