SOC stands for Security Operations Center. An organization’s SOC is responsible for protecting it from cyber threats. An organization can outsource its SOC by contracting with a third party (an IT company that provides cybersecurity services).
SMEs lose about $2.98 million a year as a result of cyberattacks; big corporations lose even more. Organizations don’t always have the resources to deal with cyber threats, which are constant and dynamic. Outsourced SOC can help here.
How Outsourced SOC Works
Third-party contractors handle all cybersecurity operations when outsourcing SOC functions. The contractor provides IT security professionals, with advanced cybersecurity software, computers, and servers to protect your in-house team against digital security threats because they may lack threat intelligence.
Among the most critical outsourced security operations center services are:
Threat Detection – Identifying cyber threats before they occur.
Incident Response & Event Management – Preventing, countering, or managing cyberattacks.
Security Analytics – Evaluating your organization’s preparedness, studying, and developing solutions against emerging cyber threats (threat hunting).
Stakeholder Reporting – Providing detailed, updated reports about the state of your organization’s in-house cybersecurity operations.
In contrast, in-house SOCs handle all cybersecurity functions internally. As well as hiring a SOC team and equipping the internal SOC department with the necessary resources, it ca costly and time-consuming.
4 Compelling Reasons to Outsource SOC
One of the most significant benefits of outsourcing SOC functions is the ability to protect your organization against cyber threats. As cyber threats become more frequent and dynamic, security incidents may become inevitable if your own SOC department cannot keep up. Cyberattacks and their financial and other negative consequences are too expensive for many organizations to afford reliable SOC departments.
The following are four other compelling reasons to work with an external SOC service provider:
Saving Time & Money
It can be expensive to hire an IT security team and buy and maintain all the necessary security tools and resources. It takes a lot of time and computing power for organizations to monitor, prevent, and counter cyber threats.
SOC contractors typically cost a fraction of what it would cost to add an in-house cybersecurity team to your payroll. In addition, they free up your time, personnel, and other resources for other equally important tasks.
Access to Advanced Cybersecurity Resources
Aside from being expensive, it is also difficult to find talented IT security analysts and other cybersecurity professionals. The cost of upgrading and replacing cybersecurity resources, such as servers, computers, and software, is also high. It is not surprising that many organizations are underequipped when it comes to their internal SOC departments.
Contractors who provide SOC services dedicate all their resources to their clients’ cybersecurity needs. They hire only the best security teams and use advanced computing resources. You can access these resources by outsourcing your organization’s SOC functions.
Strategic consulting
SOC contractors often offer their clients complimentary consultations and digital security services. Additionally, they provide CyberOps services, which involve identifying cyber threats and finding solutions. They can help your organization optimize its internal digital security posture and infrastructure by providing strategic consulting services.
Compliance
Cybersecurity laws and regulations must be followed by all organizations, and non-compliance can result in fines and other legal actions. Organizations struggle to keep up with cybersecurity laws and regulations because they are complex and dynamic. By using SOC contractors, laws and regulations can be kept up to date.
Cons of outsourcing SOC
There are also a few disadvantages to outsourcing SOC. One of the biggest disadvantages is that you must entrust your data and digital platforms to a third party. Your organization’s data can be mismanaged or exploited by unscrupulous contractors.
Outsourcing SOC has another disadvantage: lack of dedication. Organizations have varying and unique cyber security needs, necessitating a customized approach, but most SOC contractors (except in-house and outsourced SOC contractors) offer standardized services. A lot of SOC contractors also offer tiered pricing and service levels, with lower cybersecurity packages offering limited services.
There are more advantages to outsourcing your organization’s security operations functions than disadvantages. Outsourcing SOC functions can save your organization money and prevent the devastating effects of cyberattacks. Your in-house SOC department might not be able to handle SOC functions effectively, so you need to outsource those functions.
