Security operations center as service (SOCaaS) is an online subscription model for security-focused threat detection and response that provides top-of-the-line SOC solutions and tools to aid in the expansion of existing security teams.
Which Cyber Threats are Monitored by SOCaaS?
Like a traditional, on-premises SOC, SOCaaS includes 24/7 monitoring and detection of threats, prevention as well as analysis of the attack surface, which includes internet traffic corporate networks, desktops and servers, as well as endpoint devices applications, databases, databases cloud infrastructure firewalls, threat intelligence, intrusion prevention, as well as Security Information and Event Management (SIEM) systems.
Cyberthreats include ransomware, denial of service (DoS) distributed denial of service (DDoS), malware, phishing, smishing, insider threats, theft of credential zero days and much more.
Why do Organizations need Managed Services for Security Operations?
In their report on research, SOC modernization, and the Role in the Role of XDR, Enterprise Strategy Group discovered that over half (55%) need security services so they can put their security staff on the strategic security projects. Some believe that managed service providers can accomplish things that the company cannot, with 52% believing that managed service providers will provide superior security operations than their company can. 49% believing that a managed service will enhance their SOC team while 42% admitting that their business doesn’t have the right skills to handle security operations.
What are the advantages of SOC as a Service (SOCaaS)?
outsourcing information security management offers a number of benefits, among them the following:
Cost reductions
Rapider detection and quicker remediation that helps to streamline security incidents
Access to the best security products
Reduce the load on internal SecOps teams
Continuous monitoring
The speed of detection and response can help deliver high-confidence alarms and lessen alert fatigue
Reduced turnover and analyst burnout. Getting rid of routine tasks
Simpler and less complex
Lower cyber risk
Increased agility and scalability of business
However, problems arising from older SOC environments can be:
The lack of visibility and the absence of lack of context
The complexity of investigations is increasing.
Interoperability issues with systems
There is no automation or orchestration
Inability to collect data, process and interpret information on threat intelligence.
Alert fatigue/noise coming from the high-volume, low-fidelity alerts of security controls
Other benefits of SOCaaS are outlined as follows:
Continuous Protection
Security analysts are able to monitor for warnings, events, as well as indicators of compromise (IoCs). Incorporate high-fidelity threat intelligence as well as useful threat and impact report reports. Benefit from threats and analytics across all data sources to create high-quality leads to hunt for threats.
Speedier response times
Faster response times help to reduce dwell time and increase both mean time to investigate (MTTI) along with mean time correct (MTTR).
Risk Prevention as well as Threat Hunting
SOCaaS allows teams to actively look at environments for threats techniques, methods and procedures (TTPs) to aid in identifying new vulnerabilities that could be present in your system.
Security Expertise and Coverage
While SOCs have many different forms and can include duties and roles that include the role of a SOC leader, incident responseer, and Tier 1-3 security analyst(s). Other specialized roles could include security engineers security engineers, vulnerability managers, the forensic investigator, threat hunters as well as compliance auditors.
Respect of Compliance and Regulation Mandates
Important SOC monitoring capabilities are essential to ensuring compliance for businesses, particularly complying with the regulations that require specific security monitoring mechanisms and functions including GDPR and CCPA.
Industries like healthcare as well as retail, financial and other have their own sets of standards to preventively take care of risk and stay on top of regulatory changes. They consist of HIPAA, FINRA and PCI to protect the integrity of data and personal information from unauthorized access.
Optimize Security Teams
In addition to investing in security solutions and equipment, the primary aspect of any successful SOC remains the human element.
While machine learning and automated will certainly enhance overall outcomes such as response times, accuracy and remediation, particularly for repetitive, low-level tasks including attracting, training and retaining security employees, including security analysts, engineers and architects, should be baked into any cohesive SOC transformation strategy.
Aspects to be Considered When Creating a SOC
There are many ways of creating and running an SOC. In their article, Security Operations Center: A Systematic Study and Open Challenges, Manfred Vielberth, Fabian Boh Ines Fichtinger, and Gunther Pernul provide a summary of the elements that affect SOC operating models and the different aspects that could influence the decision to implement one.
Strategy for the company: The general IT and business strategy should be considered to determine which operating system is the most appropriate. A SOC strategy must be formulated before choosing the operating mode.
Industry sector: The industry sector in which a company is primarily operating greatly influences the dimension of the SOC necessary.
Size The size of a business will also affect the decision since a small company may not be able to set up and run a SOC on its own. It may not require an incredibly defined SOC.
Cost: The costs of internally implementing and maintaining the SOC need to be evaluated against the costs of outsourcing operations related to security. Initially, deploying an in-house SOC could be more expensive but it might turn out to be cheaper in the long term. The costs of locating, hiring and training SOC staff are a significant element, and they could increase due to rising skill shortages and a growing demand from the market.
Time It takes a large amount of time in order to set up a SOC. Therefore, alignment with the organizational plan and timelines is crucial. Additionally, the time to set up an SOC is to be compared with the time required to outsource it.
Regulations depending on the sector, different regulations must be taken into consideration. Some may mandate the operation for an operating SOC while others may prohibit outsourcing SOC operations completely or, at a minimum, to certain providers that do not comply with the specific regulations.
Privacy: Privacy also comes under the law and must be respected whenever dealing with personal data.
In terms of availability, the requirements for availability must be taken into consideration. Most of the time, the goal is to have a SOC operating 24/7, all year round.
Management support: Management support is vital when setting up a specific SOC. If the management team isn’t engaged, and the benefits of an SOC are not conveyed to upper management, the team might not get the support they need.
Integration: the capabilities and functions of an inside SOC require integration with other IT departments, whereas, in an external SOC, the provider needs integration to receive all the information needed.
Concerns about data loss the SOC is often a central place in which a large amount in sensitive information is handled. Internal SOCs must be well secured, whereas outside SOC requires a reliable service provider who can ensure that the data is secured against intellectual property theft and accidental loss.
Expertise: It requires the time as well as money build up expertise. The necessary skills required to run a SOC are not readily available. Recruitment and retention of employees is essential for internal SOCs. But, the required skills are already available for the external SOC providers. Particularly, in the context of SOCs, having a view into other companies could give SOC suppliers a benefit in terms of knowledge. However, companies must be aware that outsourcing can reduce internal knowledge.
What is the reason a Managed SOC is Important
Similar to on-premises and hybrid SOCs, managed SOCs come in different forms. Like their counterparts they can be able to monitor an organisation’s security landscape, which includes their IT networks, devices applications and devices, endpoints (attack surface) and data for known as well as emerging vulnerabilities as well as risks and threats.
Managed SOC services typically are available in two models:
Managed Security Services Providers (MSSPs) which run SOCs in the cloud, and make use of automated procedures.
Managed Detection and Respond (MDR) that relies on direct human involvement that goes beyond basic prevention capabilities to facilitate proactive and advanced activities like the hunting of threats.
Choosing a managed SOC option could help ease the hassle of running and maintaining an internal SOC especially for small-to-midsize enterprises.
This is also true for hiring security professionals who can build and run a SOC that meets the ever-increasing IT security standards and requirements. Engaging outside security experts allows businesses to quickly increase their coverage and bolster their security capabilities by having access to the threat monitoring and research databases, which can result in higher returns of investment (ROI) than a self-built SOC.
With threats embracing their own digital transformation, and utilizing the advantages of automation, organizations need security procedures that can keep up with. Managed security providers can offer uninterrupted coverage and guarantee service through service level agreements (SLAs) that specify the nature and frequency of services, such as software updates and patches as they are released or countermeasures against threats that are ready to implement.
Management Challenges of an SOC
While outsourcing security operations offers many benefits, there are also challenges and limitations may exist that’s why it’s critical to conduct your due diligence while comparing solutions, services, and SLAs.
Onboarding
Managed SOC providers usually rely to their internal security platform. Therefore, their solutions need to be set up and implemented in the customer’s environment prior to the service provider can begin providing services. The transition during the onboarding process may be long and could result in risk exposure during this vulnerable stage.
Sharing of Critical Data
An organization’s SOC-as-a-service provider needs access to gain insights into the network of the company to discover and combat potential threats. To do this, organizations need to transfer large amounts of sensitive information and intelligence to its service provider. But, giving control to potentially sensitive data can make enterprise data security and management of risk more complicated which can expose weaknesses during this phase.
Data storage outside the Organization
Storing sensitive threat data and data externally could lead to leaks of data as well as data loss if your organization’s cyber security is compromised or you part ways with that service. While you can usually keep track of threat alerts internally, the vast majority of data is processed outside the boundaries, which limit the ability to save and analyze the vast amount of information about threats that have been detected as well as possible data breaches.
Price of delivery for logs
SOC-as-a service providers typically operate their cybersecurity solutions on-site through data feeds and taps to their customers network. Log files and other alert data are generated and saved on the provider’s networks and systems. The ability to access all log information through a managed SOC provider can be costly for a business.
There is no dedicated IT Security Team
The role, responsibilities and the scope are different for each organization, creating a disconnect if employing a universal approach vs. forming a team that is well-versed in the nuanced, unique environments and infrastructure of each client. A third party SOC team may not be able to provide customized services because some may be shared among many customers, which could negatively impact efficiencies.
Uncertain of the company’s specific business
In serving several clients and distributing SOC resources, managed SOC providers could overlook problems in their environment without fully understanding an organization’s business procedures and procedures to secure them.
Regulatory and Compliance Questions
The regulatory landscape is rapidly increasing in complexity, and organizations need to put into place security controls as well as policies to show compliance. While a managed SOC service provider could provide assistance for compliance with regulatory requirements however, the use of a third-party service provider could complicate compliance requirements, requiring trust in a service provider to meet their obligations related to compliance.
Limited Options to Customize Services
External SOC typically does not provide full customized services since they are shared with multiple clients. The limited options for customization can lead to a lower efficiency across departments of the organization and in the inability to effectively ensure the security of specific networks, devices and other components of security systems.
In the end, a dedicated SOC can provide organizations with multiple benefits, including continuous monitoring of the network, centralized visibility as well as a decrease in cybersecurity costs and improved collaboration, you aren’t going to be disappointed. Cybercriminals won’t ever take a break, and neither should you.
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