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Over the years, the security operations center (SOC) has been considered an important part of a successful cybersecurity strategy. But, it is very complex and expensive to implement SOC, which puts a modern SOC out of reach for many companies. This is where SOCaas plays an important role in reducing complexities along with cost-effective options.
According to the report by Ponemon, only 42% of organizations rate their SOC as definitely fruitful instead of the best efforts and money spent. Because of these, companies are rapidly switching to SOC-as-a-Service providers to carry out critical security functions, including 24/7 threat monitoring and response.
Companies can opt for SOCaaS when they need to have a complete security service that covers their whole security technology stack and all teams that are involved with cybersecurity (security operations, threat intelligence, data forensics, incident response, threat hunting, etc.). Customers seek out these services to establish a proactive security posture.
We at Sennovate are introducing our new product called SOCaaS. You must be wondering, what is Sennovate SOCaaS? What are its features and benefits? How will it help your business? No worries! This blog has an answer to all your questions.
What Is SOC-as-a-Service?
SOC-as-a-Service (SOCaaS) is a subscription-based model to manage threat detection and response that brings a best-in-class security operations center within the reach of every business.
SOCaaS provides all of the benefits one can enjoy with a dedicated 24/7 SOC but without any of the high costs, complexity, and frustrations that come with building, staffing, and managing an in-house one. Companies are empowered to outsource the people, processes, and technology needed for a SOC with the help of a SOCaaS. It is operated and managed offsite and delivered as a cloud-based service.
From small to large-sized companies, all require defenses and expertise that permit them to monitor for threats day and night. SOCaaS provides an avenue for companies to acquire an end-to-end detection and response solution designed to account for today’s SOC challenges at a cost-effective price point.
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Benefits of SOCaaS
SOCaaS offers many important benefits to companies as compared to a traditional on-premises SOC. Such as:
Reduce CAPEX and OPEX than On-premise SOC
For almost all companies, SOCaaS is a more cost-effective way than operating an on-premises SOC. The main reason for this is that many costs associated with staffing, equipment, and licenses, including both hardware and software, are shared by multiple customers. For each subscriber, this brings down the overall CAPEX and OPEX.
Also, many SOCaaS pricing models are based on consumption, which means companies have to pay only for the services they use.
Ability to Scale
As similar to other XaaS solutions, SOCaaS is also famous for its flexibility and adaptability. Organizations can enjoy the flexibility of easily scaling up or down the teams and services based on their needs or requirements and in response to specific events. On the other hand, in a traditional SOC model, resources – and human resources, generally are finite and cannot be added quickly or easily in times of need.
Faster Detection and Remediation
One of the most important advantages of having SOCaaS is speed. The SOCaaS team can properly identify, prioritize, categorize, and remediate security events with the help of a combination of advanced technology and automation, as well as human oversight. It is not an easy task for companies to reduce the amount of time spent investigating “false alarms” and focus on real and urgent threats to the business as the amount of alerts continues to increase.
Lower Risk for a Breach
SOCaaS works constantly, offering 24/7/365 monitoring, detection, and response capabilities. This helps organizations in ensuring that threats are contained and neutralized quickly, which in turn allows them in reducing the “breakout time”.
Organizations can enjoy access to hyper-specialized security experts without having any necessity to hire or retain people full-time with the help of SOCaaS. SOCaaS ensures that someone is dedicated to these important activities and limits potential risk.
Due to the shortage of staffing within the cyber industry in recent years, SOCaaS has become a most demanding solution. SOCaaS helps in solving the challenge related to the availability of the workforce as well as frees up employees to focus on security use cases that are more important for in-house roles as attracting and retaining talent has become more difficult.
For many organizations that retain the services of a reputable vendor, SOCaaS can be treated as a shortcut to maturity in many ways. This will benefit from the latest, most advanced solutions and highly-skilled staff. Along with lowering the whole risk, it will even help fuel faster and more accurate detection and response.
Why Choose SOC-as-a-Service?
Are you in a confusion about whether to choose SOC on-premises or SOCaaS? Below mentioned points will help you in decision-making:
The technological backbone of the SOC is a SIEM. But, the companies frequently have to layer on new tools as the threat landscape changes. Over the period, it is becoming more and more difficult to manage and extract meaningful security insight. SOC is expensive as procuring, deploying, configuring, integrating, updating, and maintaining the various products required to operate it. It even requires the data collection, storage, and licenses that add to the costs of an on-premises SOC. So, to remain away from these expenses, organizations are switching and choosing SOCaaS.
It is a fact that to run the SOC, almost 80% of organizations don’t have enough analysts. Apart from analysts what is more difficult is recruiting qualified experts in threat hunting, incident response, security engineering, and more. The rate of turnover is an additional challenge. SOC experts are not easy to find and are very hard to keep, which means you will have to constantly be recruiting, onboarding, and training new team members. On the other hand, when opting for SOCaaS, you don’t have to even think about recruiting analysts, qualified experts or anyone as your SOCaaS provider will manage everything on the cloud.
Compliance & Certification
All companies have to maintain high-security standards to prevent breaches. It is a business imperative to have data privacy and protection. A SOC must be aligned with ISO 27001 or SOC II Type 2, and certain industries also have to consider other regulations or frameworks like HIPAA, GDPR, CCPA, PCI DSS, and NIST. Achieving and demonstrating compliance on an ongoing basis can be a time-consuming as well as expensive process that needs to be factored into the total cost of ownership for a SOC.
According to Ponemon, “SOCs that are highly effective cost an average of $3.5 million versus $1.96 million if the SOC has very low effectiveness.” But, effectiveness requires more than funding. It requires the right people, processes, and tools to detect, investigate, triage, and remediate threats. These threats constantly evolve, meaning staff must constantly learn and tools require regular review and updating. It takes effort and human knowledge to run a powerful, capable SOC.
Traditionally, a security operations center (SOC) is a dedicated office space where experts work and collaborate. The cost of acquiring, fitting and securing a space, with room for enough staff with 24/7 HVAC, can be significant.
Why Choose Sennovate SOCaaS?
Sennovate SOCaaS is a modern, cloud-native SaaS platform that accelerates, and improves the effectiveness of threat detection, hunting, investigation, triaging, case management, and remediation. We have a team of experts that operate as an extension of your security operations team. Want to know more about Sennovate SOCaaS or have any questions? We are just a call away!
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Sennovate delivers custom identity and access management (IAM) and managed security operations center (SOC) solutions to businesses around the world. With global partners and a library of 2000+ integrations, 10M+ identities managed, we implement world-class cybersecurity solutions that save your company time and money. We offer a seamless experience with integration across all cloud applications, and a single price for product, implementation, and support. Have questions? The consultation is always free. Email [email protected] or call us at: +1 (925) 918-6565.