What is Managed SOC as Services and Its Benefits

• June 19, 2023
• By SECNORA

A Security Operations Centre (SOC), also referred to as Information Security Operations Centre (ISOC), detects, analyses, responds and remediates cyber threats in real time and prevents organisations from cyber-attacks.The security experts supervise the complete IT system 365 days and 24×7. They monitor networks, devices, applications, servers, databases, cloud resources etc. SOCs also collect data and event logs to identify and address potential threats such as malware, internal threats, DoS attacks, phishing, espionage etc.If a threat is detected, the SOC team investigates the incident, prepares a response plan and implements the resolution proactively to minimise damage. Thus, SOC is crucial for a business to build a robust security posture.

How Businesses Use SOC

Businesses use SOC in two ways discussed below.
In-house SOC team – Business organisations can build a team of security experts who can handle all the SOC processes. The chief advantage of in-house
SOC team – Operational Control. However, challenges remain. Businesses often find it difficult to hire and retain security experts. In addition, SOC software and hardware are expensive.

Managed SOC – A third-party SOC service provider operates and controls the IT infrastructure of an organisation. The Outsourcing SOC model is cost-effective, efficient and scalable. Businesses can focus on other essential tasks while experienced SOC professionals take care of security. This is the primary reason why businesses should opt for Managed SOC.

Why Businesses Should Use Managed SOC

According to ReportLinker’s SOC-as-a-Service Global Market Report 2023, the SOC-as-a-service market grew at a compound annual growth rate of 10.9% CAGR, from approximately 3 billion in 2022 to 4 billion in 2023. Additionally, the SOC-as-a-service market is expected to rise to 6 billion in 2027.The report gives a clear picture of how business organisations are planning to improve their security programs: by investing in SOC-as-a-service. Besides, businesses can enjoy myriad long-term advantages of using a managed SOC.

Advantages: 

• Qualified and Experienced – Managed SOCs consist of team members who are highly qualified and experienced in the field. It includes incident responders, security analysts, security engineers, threat hunters, forensic investigators, and compliance auditors. The team members with different skill sets come together to power an organisation’s security posture.The SOC team has access to powerful and safe technology and tools. Plus, they have the latest technical know-how to handle processes. The managed SOC team begin the work immediately and promises productive operations and reliable protection while the business organisation can be at peace.
• Top-notch Protection – Security incidents can often spiral out of control. Data loss and business disruption are a few examples, which can cause irreversible damage to the business. Managed SOC can easily be one step ahead by logging and evaluating suspicious alerts 24X7. It ensures all-around protection from problems and their possible repercussions.
• Proactive – Managed SOC services work with clients worldwide. Security experts are, therefore, always updated with evolving threat landscape and cyber-attack trends. When a new threat is detected in one client’s system, appropriate measures and updates are done to prevent other clients from damage.An in-house SOC team limited to its environment will find it difficult to detect new cyber threats. A large enterprise with an extensive amount of data will make it more challenging.  Thus, a lot of damage can be prevented with managed SOC instead of an in-house SOC team.
• Threat Intelligence – A third-party SOC provider provides the right context to the threat intelligence gathered, takes measures at the right time and tightens defences. They are also capable of dealing with multiple incident alerts efficiently.
• Detection and Response – Managed SOC is helpful for small and medium businesses as they manage threat hunting, response, resolution, compliance and recommendations to prevent attacks in the future.
• Managed SOC Cost – –The cost for a managed SOC depends on different factors such as: Scale, Technology required,Compliance requirement,Customisation needed,Location

Businesses should first consider their requirements and the service level needed, then discuss the pricing and pricing structure with a managed SOC service provider. Also, consider the experience and reputation of the SOC vendor.

Why SOC is key toBusiness Security

In the past, Network Operations Centres (NOCs) responsible for the IT environment looked after security requirements too. Not anymore. Sophisticated cyber-attacks are ruling the roost. Artificial Intelligence, Machine Learning and other advanced technology are helping cyber criminals to carry out attacks of highly dangerous levels.As cyber threats increase exponentially, businesses need to prioritise cybersecurity initiatives. A SOC is the first step to building a strong security posture as they use advanced tools and processes to detect, analyse and respond to anomalous cyber events on an ongoing basis.

SOC Benefits for Businesses

• Threat Hunting – The SOC team proactively searches for threat indicators using threat intelligence techniques and studying behavioural cues. Security experts develop models and use cases to identify possible threats. Plus, they use Artificial Intelligence, Machine Learning and Analytics to discover anomalies.Data from network perimeter devices, endpoint detection and response data are analysed for threat hunting.
• Threat Detection – Advanced threat detection tools are used to detect malware and other threats that look to steal data, damage critical assets or disrupt operations. The advanced threats are harder to detect as it gradually takes shape. Analytical techniques identify and remediate incidents.Logs, net flows, telemetries and data from host-based intrusion detection systems, and intrusion prevention systems are used for this process.
• Response and Resolution – Advanced cyber-attacks often go undetected in the initial stages. The attack vectors dwell in the network and cause maximum damage until they are detected. Thus, SOCs help in rapid response and resolution.Tools like security information and event management, UEBA, automated workflow management, and integrated ticketing system to communicate to IT people aid this process.
• Analysis – In case an attack happens, SOCs analyse the root cause of it. They further identify the existing loopholes, data and resources impacted and the lateral movements in the network. A SIEM tool or analytics tool helps in performing this forensic analysis of the event.
• Compliance – Country and region-specific data privacy protection laws are emerging across the globe. Examples include GDPR in Europe and CCPA in California. The SOC team ensures that security measures meet compliance goals. If not, the necessary changes are recommended by them. Furthermore, SOCs are responsible for training employees of an organisation and implementing security policies to be followed.A managed SOC is the dire need of the hour as the cyber threat landscape rapidly grows and poses risks to businesses worldwide. Managed SOC can help businesses of all sizes to empower their security posture cost-effectively and efficiently.