SOC benefits are among the few counter forces preventing cyberattacks and data breaches.
With more than 155.8 million individuals affected annually and more than 60% of targets being businesses, it’s essential for organizations to safeguard their data and processes from internal and external cyber threats.
Further accelerating the escalation in malicious cyber activity would be the drastic increase in the remote workforce following the pandemic. And, while many remote workers love this paradigm shift, the unfortunate truth is that cyber hackers love it more.
You see, remote work has opened Pandora’s box of new device and network vulnerabilities. Now more than ever, bolstering your IT security is critical. In this article, we discuss the seven major performance benefits of a SOC – with a focus on the outsourced variety – so you can decide whether it’s right for your business.
What is a Security Operation Center (SOC)?
A security operations center is a centralized entity that handles organizational and technological security challenges. SOC analysts manage and improve security across the three pillars of an organization: people, processes, and technology.
A SOC can be its own department within your organization (known as a dedicated SOC) or can be outsourced to a third-party specializing in managed detection and response.
Though ‘SOC’ is used interchangeably to refer to both in-house and outsourced teams, the correct abbreviation for the latter is ‘SOCaaS’, which stands for SOC as a service. Since this article focuses primarily on SOCaaS, we’ll use the terms interchangeably.
The Top 7 SOC Security Benefits
Now let’s look at the 7 major benefits of a managed SOC.
1. Continuous Security Monitoring
While business hours may extend from nine to five, Monday-to-Friday, cybercriminals prefer after-hours and weekends to launch their attacks. This is usually when defenses are at their most vulnerable. That’s why continuous threat monitoring is the cornerstone of an effective security strategy.
Partnering with a SOC that offers 24/7/365 coverage will equip your business with the oversight it needs. Having access to security analysts and incident response at every hour of every day is the best way to minimize security incidents.
2. Comprehensive Intelligence
In contrast to an in-house SOC, SOCaaS provides more robust and comprehensive solutions when faced with the threat landscape. In particular, outsourced security teams are known to leverage additional sources of data and threat intelligence.
This includes access to innovative machine learning (ML) tools designed to detect, prevent, and eliminate cyber threats. Put simply, SOCaaS team members provide a more realistic approach to risk and attacks.
Interested in learning more about the benefits of a managed SOC? Check out these blogs:
3. API Security
An API is an incredibly useful, yet highly vulnerable, type of software interface. This is a fact often overlooked by in-house SOC teams, who tend to focus more on local network security.
In contrast, a reputable SOCaaS provider will be especially meticulous in analyzing the APIs used by your organization. They’ll build reports outlining any discovered vulnerabilities, as well as the steps required to resolve them.
4. Fast and Effective Response
From passive threat detection to active threat hunting, the scope and depth of a SOCaaS provider’s knowledge is vast. The team’s combined experience directly translates into actionable intelligence that can be deployed at the first sign of trouble.
This, mixed with the fact that they continuously monitor your networks and systems, ensures rapid detection and response.
Discover more IT benefits by reading about the Top 10 Benefits of Managed IT Services.
5. Centralized Network Visibility
In pursuit of digital transformation, many businesses have become entangled in increasingly complex network configurations. There are several key factors that have prompted this shift, namely:
- The transition to remote work
- The adoption of bring-your-own-device (BYOD) polices
- Cloud computing
- Internet of Things (IoT) devices
The massive surge in remote connectivity to enterprise networks has left unexpected vulnerabilities in its wake. Faced with this new reality, many organizations have realized that their former security technologies fail to provide the necessary cross-platform compatibility.
Luckily, SOCaaS can provide your business with an integrated network visibility solution. This ensures you always have complete oversight and insight into your network and possible attack vectors.
6. Benefits of SOC 2 Compliance
System and Organization Controls (SOC) help businesses meet industry compliance standards. There are three types of SOCs, easily remembered as SOC 1, SOC 2, and SOC 3. For corporate compliance purposes, SOC 2 is most important. Within SOC 2, there are two subtypes, aptly named Type 1 and Type 2.
A Type 2 report is the most essential for security compliance purposes. It informs managers, regulators, and other privy parties about an organization’s security, integrity, availability, privacy, and confidentiality criteria.
There are many benefits of SOC 2 reporting: By recording, reviewing, and upgrading internal controls, SOC 2 compliance acts as a roadmap to foster improvements, such as strengthening your business’ reputation, its financial statements, and its stability.
Bring the Benefits of a SOC to Your Business
Get proactive monitoring that helps you stay on top of cyber threats.
7. Cost-Effective Cybersecurity
Staying on top of your company’s cybersecurity needs can get expensive, very fast. In order to foster full visibility and protection against cyber threats, a corporation may require different platforms and licenses. By pooling these expenditures between clients, SOCaaS will save your business money.
Moreover, minimizing cybersecurity risk can help you avoid a data breach, an event that could cost your company millions of dollars in downtime and system recovery. A SOC that prevents even just one attack has already shown a priceless return on investment.
Gain the Benefits of a Managed SOC With Buchanan
Is your organization looking to reap the maximum SOC security benefits? Consider partnering with Buchanan Technologies for all your IT monitoring and response needs.
For over 30 years, we’ve delivered reliable and innovative IT security solutions. With a staff of more than 500 IT experts, you can count on fast and effective service every time.
Plus, our à la carte plans and predictable pricing lets you stay on top of your budget while scaling our services to the growing demands of your business.
Discover more of the benefits of a SOC by connecting with us today.