The Complete Guide To Managed SOC

Do you want to protect your enterprise from Cyber attacks? Of course yes, right? With SOC you can. As every organization wants to stay away from attacks. But, protection against cyber-attacks gets more tough every day, as the attacks become more complex, are ever-evolving, and are increasing in numbers.

Every organization must make sure that it is protected, as breaches and cyber attacks will hurt your reputation and can cost your organization millions. Because of which, how can (future) customers trust you again afterward?

Well, we all know it is necessary to protect the organization from the cyber attack but the question is how to protect it? How can you safeguard your organization’s sensitive data? The answer is SOC.

What is SOC? Why do you need these services? When should you consider getting SOC solutions and using these services? What is Managed SOC? What are the advantages of Setting it up? Are these questions wandering in your mind? No worries! We have answers to all your questions in this blog.

So, let’s get started!

What Is SOC?

Before moving to the Managed SOC. Let us understand what SOC is. SOC is the abbreviated term of Security Operations Center. It is a team of cybersecurity professionals. This security team monitors networks for cybersecurity threats 24/7/365 while responding to cyberattacks and incidents. The job of  SOC’s information security team is to detect, analyze, and respond to cyberattacks. With various security tools, machine learning, monitoring tools, threat detection software, and expert analysts. It manage these security incidents in real-time. According to Gartner, by 2022, 50 percent of all SOCs will begin to integrate incident response, threat intelligence, and threat hunting.

What Is Managed SOC?

Managed SOC offers organizations external cybersecurity experts who monitor your cloud environment, devices, logs, and network for threats. It is dependent on a subscription model system where you can pay a monthly or yearly fee to prevent threats and to make sure that threats are being detected and accordingly responded to.

There is continuous monitoring of your IT infrastructure with managed Security Operations Center, without making a large investment in security software, hardware, security experts, training, and more. You can have quick access and start the monitoring of cyber threats, which will improve your organization’s security.

Managed Detection and Response (MDR) is a service that a managed Security Operations Center team delivers.

Advantages Of Setting Up Managed SOC

Reduction Of Cost

The advantages of finance due to less downtime can be ridiculous. Almost 80% of small businesses have experienced downtime with costs ranging per event from $82,200 to $256,000. The SOC even reduces the expenses because a unified security team results in less overlap in job duties.

The Security Operations Center also helps you to stay away from fines and other penalties because of violations of the Payment Card Industry Data Security Standard (PCI DSS), Health Insurance Portability and Accountability Act (HIPAA), and other data security regulations.

Centralized Activities

In between different workgroups and locations, IT security functions are often spread, but the SOC brings them together in a single team. This enhanced collaboration leverages their shared knowledge and experience to boost results.

To coordinate security activities and communicate key information and policies, the SOC also serves as a single point of contact.

Increased Prestige

It is obvious that the customers and employees expect that their information remains secure once they give it to you. This illustrates to stakeholders that you are serious about the protection of data. Make it an integral part of your internal and external marketing materials just don’t keep it a secret.

Pricing

Managed SOC pricing ranges from $750/month to $50,000/month, depending on the needs of a business or enterprise. The security solution provides general business data security monitoring, defense, and reporting at the lower price tiers. On the other side, the managed SOC provides a dedicated off-site security team to an enterprise at the higher prices.

What should your business expect to pay? The price is based on the size of logs you are going to monitor and your retention policies. For Example, the AT&T website says that the starting price is $7,595 for the managed threat and response. Remember, this will not cover all aspects of SOC. However, if you choose to go with MSSP for your managed SOC requirements, you can expect an average of about $5000 -. $8,000 per month for a company of 1000 employees. There is not any specific rule for pricing. A better requirement definition will dictate the right pricing.

Do I Need A SOC Consultant Near Me?

Maybe. The most important factor is experience and effective workflow, whether in-person, on-site, virtual, or off-site. That said, we think working with a SOC consultant near you is an advantage. This will allow your SOC consultant to better communicate with existing IT teams, and better understand your current information architecture. A non-local SOC consultant becomes a good option if they follow security best practices, and have an established virtual workflow. Why? Location is less significant when virtual workforce tools are effectively adopted by consultants and clients, whether a small business or a global enterprise. Plus, on-site SOC consultants can become costly. Bottom line, look for a SOC Consultant who offers an excellent communication process, clear workflow, and custom-managed Security Operations Center solution for your business.

Summing Up

Ask yourself a question “What are our security needs?” and forward to “How can we most effectively and efficiently meet them?” Then find the SOC provider. Securing the data of the company and the information of the customer is necessary for every business. When you have made a decision to take that protection one step ahead, it provides 24/7 security for your enterprise network and related assets.

Having any doubts or want to have a call with us to know more about SOC solutions?

Contact us right now by clicking here, Sennovate’s Experts will explain everything on call in detail.

You can also write a mail to us at [email protected] or call us on +1 (925) 918-6618.

About Sennovate

Sennovate delivers custom identity and access management and managed security operations center 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) 918-6618