With the rise of digitalization and cloud migration, companies are becoming more vulnerable to various online threats. In 2020, the Federal Trade Commission recorded 4.8 million instances of identity theft and fraud – a 45% increase from the previous year. Cybercrime is estimated to cost the global economy around $1 trillion, with the average data breach costing $4.24 million – up from $3.86 million in 2019. Of all industries affected by data breaches, healthcare is the most expensive at $7.13 million.
Unfortunately, the growing attack surface and lack of specialized skills have made security operations more complex for security teams. As a result, many companies have opted to store data and applications in data centers and cloud systems. However, in-house SOC implementation can be both complex and expensive to maintain in the long run.
Outsourced SOC or SOC as a service is the most effective solution for ensuring 24/7 monitoring of devices, networks, and cloud environments to prevent threats proactively. Managed SOC is a cost-effective way to provide visibility and security within the organization.
The advent of cloud technology and the emergence of Managed Security Service Providers (MSSPs) have made it easier for organizations to manage their security operations in a cost-effective way. MSSPs provide a managed Security Operations Center (SOC) or SOC-as-a-service, with cybersecurity experts to monitor log data, cloud environments, systems, and networks. This eliminates the need to hire employees with specific skill sets to operate an in-house SOC. A managed SOC service is a cloud-based service that uses people, technology, and processes to manage an organization’s systems and networks externally.
Managed SOC service providers offer organizations informative dashboards that provide context about security events and incidents. By reducing the workload of security teams and automating the threat detection and response process, managed SOC services allow for 24×7 monitoring of security events and provide visibility in a single pane of glass.
Many organizations are growing rapidly as they adopt cloud-based technology, embrace the Internet of Things, and expand their remote workforce. In order to meet the needs of these organizations, outsourced cloud-based SOC services are becoming increasingly popular due to their scalability. Managed Security Service Providers (MSSPs) use a threat intelligence platform that provides context regarding security incidents and automates the threat detection process. This automation enables MSSPs to share alerts in real-time with assigned actions, ensuring quick and effective response to potential threats.
Managing an in-house SOC and keeping it up and running can be very challenging in the long run due to its complexity. Choosing a Managed SOC service can be a cost-effective solution for organizations as they only have to pay for the outsourced services, equipment, and licenses to the MSSPs, which in turn reduces capital and operational overheads.
MSSPs can easily afford new tools and technologies such as artificial intelligence, enabling them to deliver better results. MSSPs encourage the implementation of new tools at lower costs, which helps an organization improve its security operations maturity.
Organizations often collaborate with Managed Security Service Providers (MSSPs) to benefit from their comprehensive security solutions and cyber security professionals who can conduct advanced security operations. MSSPs maintain up-to-date tools and resources to counteract threats and vulnerabilities, thereby boosting the confidence of internal security teams. In addition, MSSPs only send important alerts while eliminating false positives, which further enhances the efficiency of the security system.
Managed Security Service Providers (MSSPs) employ a specialized team of security experts to monitor and address security events and threats. These experts are available around the clock to give advice and help organizations to plan and design security operations more effectively. Co-managed Security Operations Center (SOC) is a crucial step for companies of all sizes to enhance security decisions.
Automated cloud deployment simplifies the process of setting up firewalls. Managed Security Service Providers (MSSPs) can pre-configure security appliances in the cloud and send them to customers, who can simply power them on with an internet connection. MSSPs can also deploy specific modules for incident response and orchestration without having to install a complete orchestration layer for each client.
Sattrix InfoSec is a leading provider of managed cybersecurity services with a range of flagship offerings, including SOC as a Service, vulnerability management, managed detection and response, and device management. Additionally, Sattrix has partnered with other providers to offer hybrid SOC services. This includes a team of security experts equipped with the necessary skill sets and in-depth knowledge to perform analysis, monitoring, and proactive threat hunting.
Sattrix’s managed SOC as a service provides:
A customized monitoring window is created to meet the specific security requirements of the customer. A team of experts carefully analyze, investigate, and report security events round the clock, providing necessary assistance and suggestions to strengthen the security operations.
An SLA (service-level agreement) is implemented based on incident management, which clearly defines service expectations and remedies in case of a breach. This approach helps in the early detection and mitigation of any cyber threats.
A team of skilled security professionals is employed to ensure that the security of the organization is not compromised at any level. They execute complex operations and provide effective solutions to support the workflow of internal staff.
An integrated security framework is established, including vulnerability management, SOAR, and proactive threat hunting to ensure mature and enhanced cybersecurity decisions.