Ransomware breaches grew by 41% last year.
Average cost of a ransomware attack in 2022 = $4.54M.
- Source: IBM 2022 Cost of a Data Breach report.

From small businesses to large corporations, no one is immune to the threat of data breaches and other cyber incidents. Today's modern SME's and Enterprises deploy 24x7 SOC (Security Operations Centre) to monitor and defend against sophisticated cyber threats in real time.

Building an Effective Security Operations Center (SOC)

A Security Operations Center (SOC) is a team of IT security professionals that work to detect, analyze, and respond to cyber threats in real-time, with the goal of preventing attacks on an organization. The SOC is responsible for collecting data and event logs from across the organization's IT environment, including networks, devices, and information systems, wherever they may be located. It serves as a central point for the security of the company and its functions include monitoring security tools, patches, and updates, detecting and preventing threats, investigating and containing cyber incidents, managing risk and compliance requirements, and more.

The future of SOC relies on security enforcement points and threat research tools that integrate natively to monitor, assess, and defend information systems in the data center, endpoint, and cloud against cyber-attacks. Two of today’s key technology trends are highlighted below.

The future of SOC relies on security enforcement points and threat research tools that integrate natively to monitor, assess, and defend information systems in the data center, endpoint, and cloud against cyber-attacks. Two of the key technology trends are highlighted below.

• UEBA: UEBA stands for User and Entity Behavior Analytics. It is a security technology that uses machine learning and behavioral analysis to detect and alert on unusual, suspicious, and potentially harmful user and entity behavior within an organization's network.
  
  When there are deviations from routine daily patterns of usage, UEBA strives to identify any odd or suspicious behavior. For instance, the UEBA system would recognize this as an anomaly and either inform an IT administrator or, in the case of automations, immediately disconnect that user from the network if they were frequently downloading small files of each day and suddenly started downloading large amounts of data.
  
  UEBA monitors not just human behavior but also machine behavior. A hypothetical distributed denial-of-service (DDoS) assault may begin one day when a server in one branch office unexpectedly receives thousands more requests than typical. This kind of action might go unnoticed by IT managers, but UEBA would spot it and take further action.


• SOAR: An emerging class of technology called Security Orchestration, Automation, and Response (SOAR) enables enterprises to react to security events and threats more quickly and effectively. SOAR tools are a set of software programs that can enable you to collect data about security threats from multiple sources and respond to low-level security threats without human assistance. The goal of using SOAR tools will be to improve the efficiency of your digital security operations.
  
  The three key functions of SOAR technology, according to Gartner, are:
  • Threat and vulnerability management to enable the remediation of vulnerabilities by providing formalized workflow, reporting, and collaboration capabilities.
  • Security incident response that spans the entire response process, from planning and management to the tracking and coordinating of responses to a security incident.
  • Security operations automation to enable the orchestration of workflows, processes, policy execution, and reporting.

Different SOC Models

In addition, there are three different types of SOC models:
1. Internal – fully managed by an in-house security team
2. Managed – outsourced to third-party security experts
3. Hybrid – a collaborative effort between an in-house security team and third-party security experts

Most in-house enterprise SOCs today struggle to maintain high-quality skills and talent as their turnover is very high. When you combine this with security budget constraints and skills shortage, most enterprises end up with few analysts capable of fighting advanced threats. This is where the remaining two SOC models, Hybrid and Managed SOC, come into

In this article, we will dive deeper into Managed SOC and how it can amplify your cybersecurity efforts and offer true protection for your enterprise in a cost-effective manner.

Understanding Managed SOC

A Managed SOC is a service offered by a third-party provider to monitor and protect an organization's network and systems from cyber threats. This can include a variety of services such as incident response, threat intelligence, and vulnerability management. Essentially, a Managed SOC is a team of security experts that work to protect an organization's sensitive data and systems from cyber threats.

Why do organizations need a Managed SOC?

• Lack of Internal Resources & Expertise
  One of the primary reasons an organization might need a Managed SOC is that they may not have the resources or expertise to effectively monitor and protect their own networks and systems from cyber threats.


• Lack of Internal Resources & Expertise
  One of the primary reasons an organization might need a Managed SOC is that they may not have the resources or expertise to effectively monitor and protect their own networks and systems from cyber threats.


• 24/7/365 Support
  Managed SOCs can provide around-the-clock monitoring and incident response, which can be especially important for organizations that operate 24/7 or have sensitive data that needs to be protected. In the event of a cyber incident, a Managed SOC can quickly respond and contain the threat to minimize damage.


• Access to Best-in-Class Intelligence & Security
  Another benefit of a Managed SOC is that it can provide access to the latest threat intelligence and security best practices. This can help an organization stay ahead of emerging threats and keep their systems and data secure.

Conclusion

An organization may need a Managed SOC because they may not have the resources or expertise to effectively monitor and protect their own networks and systems from cyber threats. As a cost-effective solution for organizations to outsource these responsibilities to a team of security experts, Managed SOCs are also effective in providing around-the-clock monitoring and incident response to organizations that operate 24/7 or have important data that needs to be protected.

In conclusion, a Managed SOC can provide a valuable service for organizations of all sizes. It can help protect against cyber threats, provide access to the latest security best practices, and offer a cost-effective solution to managing security risks. As cyber threats continue to evolve, it is becoming increasingly important for organizations to take steps to protect themselves and their data. A Managed SOC can be a powerful tool in this endeavor.

Connect with our cybersecurity experts today for a free consultation.