With all of the cyber threats that exist today, it is no longer optional to have a security operations center (SOC) as part of your IT security solution.
Some organizations opt to run their SOC in-house. However, this can be a very expensive and time-consuming operation to maintain. Fortunately for businesses that can’t justify building and staffing their own SOC, a SOC as a Service solution is a great option.
Also known as managed SOC, this is a subscription-based model where an organization outsources its managed security operations to a third party, typically a managed security service provider (MSSP). This includes such services as:
- Threat hunting
- Vulnerability management
- Managed detection and response (MDR)
- Incident response
- And more
In this article, we’ll take a detailed look at information regarding SOC pricing, get a better understanding of common SOC-as-a-Service models, and how to choose the best solution for your organization.
In addition to your budget, some key factors to consider that impact SOC pricing include:
- Infrastructure: Considerable infrastructure investments must be made to proactively monitor your threat landscape, including the expense of updating tools and technologies as they become available.
- Resources: With today’s demand for qualified security experts, it can take months to source, interview, hire, and onboard internal security teams, delaying your security operations and leaving you vulnerable.
- Time: Standing up an internal SOC can take months – or even years – when you factor in hiring staff, buying the necessary security tools, and implementing it throughout your organization.
.A 2020 Ponemon study found that organizations are spending an average of $9.9 million a year to run their own SOC. Knowing this, an internal security operations center may not be the most cost-effective option, so many businesses opt for a SOC-as-a-Service solution.
With a SOC-as-a-Service solution, a third-party service provider maintains the ongoing cost and upkeep of these items, allowing organizations to reap the benefits without having to make a significant investment themselves.
Additionally, leveraging a third-party provider for managed security services will free up internal security teams to focus on core company initiatives that drive the business forward rather than spending their time chasing potential threats.
While exact pricing figures will vary from provider to provider, two common ways SOC-as-a-Service pricing is calculated is by:
- Amount of users: The total number of users connected and using your organization’s digital assets.
- Number of devices: The number of devices in your IT environment that you use & want to monitor.
That said, your overall SOC as a Service cost will largely depend on the type of SOC you choose, with some of the most common models shown below.
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A Closer Look at the Different SOC-as-a-Service Models
An entry-level SOC is the most affordable solution and is ideal for organizations looking for basic security monitoring.
At this level, you will likely have a combination of security services and resources to troubleshoot and solve specific problems, which may not yet be unified under a holistic SOC strategy.
A step up from an entry-level SOC is a standard SOC. This level provides a much more thorough strategy for threat detection, prevention, and investigation and includes an appropriately-sized security team along with automation tools to help augment staff capabilities.
A dedicated SOC is generally the most expensive type of SOC, but for good reason. It features dedicated full-time security experts that proactively identify and prevent network threats around-the-clock.
Additionally, analysts will proactively hunt down threats and identify gaps before they become issues, making this the ideal SOC for organizations looking to eliminate threats before they impact business operations.
Considering SOC-as-a-Service for Your Business?
Which SOC-as-a-Service Model is Best for Your Organization?
In summary, a SOC-as-a-Service solution reduces noise and prioritizes threats for your organization while giving you the peace of mind and protection your business needs at a fraction of the cost to manage and maintain it on your own.
However, because SOC as a Service pricing and the overall costs varies depending on your organization’s demands, business functions, compliance requirements, budget, current IT security posture, security service goals, and more, it can be overwhelming knowing where to start.
A great first step is to consult with an MSSP such as Buchanan Technologies. We can help you identify where you are most vulnerable and determine the level of cyber risk you want to mitigate, giving you a better idea of the type of SOC your organization needs.
For more information about our SOC as a service pricing, get in touch with us today.