A managed Security Operations Center (SOC) provider supplies clients with regular reports on identified threats, response times, and the general state of security. By outsourcing these responsibilities to a managed SOC provider, organisations can free up internal resources, letting them focus on their main activities while a team of experts handles security monitoring and incident response.
When thinking about choosing the right SOC solution for your organisation here are some steps that you should consider.
Assess organisational needs
Conduct a comprehensive risk assessment to identify your organsation’s specific security requirements, critical assets, and threat landscape. This involves evaluating your current security maturity level, including existing tools, processes, and in-house expertise.
It’s also helpful to look to the future. Consider your organisation’s growth plans and their impact on future security needs. Identify any gaps in your current security posture that a SOC solution should address.
Evaluate SOC provider capabilities
Compare the different SOC models (in-house, managed, and hybrid) based on the needs you identify in Step 1. Once you decide which model is best, the evaluation process can begin.
Start by requesting specific case studies, client references, and proofs of concept to vet the provider’s capabilities. Inquire about the provider’s use of advanced technologies like AI, machine learning, and automation in their SOC operations. Good providers should be proficient with the latest platforms and technology and understand industry trends. It’s also essential to communicate your growth plans to your provider to ensure they have the resources to accommodate your organisation’s future vision.
Consider costs
After determining how a SOC fits into your specific business, you can start to run cost projections for your particular security operations center. Calculating the total cost of ownership (TCO) for different SOC models over a three- to five-year period is a great place to start. To accurately arrive at these figures, you’ll need to include the following:
- For in-house SOC: Staffing, training, tools, infrastructure, and ongoing operational costs
- For managed SOC: Service fees, any required on-premises equipment, and integration costs
You’ll also need to consider hidden costs such as:
- Potential downtime or productivity loss during implementation
- Costs associated with meeting compliance requirements
- Potential costs of a security breach if you choose inadequate protection
Once you have completed these steps, you can begin to analyse the cost-effectiveness of different models in relation to your security needs and budget constraints. Consider the potential return on investment (ROI) in terms of improved security posture, reduced risk and operational efficiencies. To understand how each model would affect your organisation, factor in the scalability of costs as your organisation grows or security needs change.
If you’re considering managed services, carefully review pricing models (e.g., per device, per user, or flat rate) to determine the most cost-effective for your organisation.
As you evaluate, your goal is to find the provider that offers the best balance of security, functionality, and value for your organisation. As we have mentioned, thousands of websites are hacked every day. Given these numbers, companies can’t afford to leave gaps in their cybersecurity protection.
Introducing Barracuda
Our recommended SOC solution is Barracuda. Barracuda XDR Cloud Security is a managed security service that provides monitoring for malicious activity in the cloud to find potential identity, privilege, and asset risks such as unauthorised access to cloud mailboxes and infrastructure, admin changes in the environment, inbox rules, impossible logins, and brute force attacks.
Barracuda XDR detects threats faster with a Managed XDR platform, backed by a 24/7 Security Operations Center (SOC) to streamline response to incidents reducing the damage the attack can do to your customers.
Leveraging the help of a security operations center can expand your team’s cybersecurity capabilities and minimise your attack surface, and Barracuda has the resources to help. To find out more about Barracuda or the Managed SOC service on offer contact our team who can help.
