What is a Managed SOC? And why use one?
SOC teams use numerous processes and tools to detect, analyze, respond to and investigate anomalous behaviour and cybersecurity incidents. But even knowing how important the SOC is, not all organizations can set up the team in-house; they may lack the resources, skills, budget . . . there are any number of reasons why this happens. Fortunately, they can still leverage all the benefits of a SOC – with a managed SOC (or SOC as a Service).
WHAT IS A SOC?
Let's start with the basics before delving into what a managed SOC is. What exactly is a SOC and what do its functions involve?
A Security Operations Centre (SOC), also known as an Information Security Operations Centre (ISOC), is a team of IT security experts that work to prevent cyberattacks on an organization by detecting, analyzing, and responding to cyberthreats in real-time. This team, which can be in-house or outsourced, monitors the entire IT infrastructure of the organization 24/7*365 to detect potential cyberthreats and incidents so that they can be addressed as quickly and effectively as possible. A central point for the security of the company, the SOC is responsible for collecting data and event logs from across the entire IT environment, including networks, devices, and information systems, wherever they may be located. However, with cloud-security and remote work, SOCs are no longer a physical structure that security professionals work out of but rather a fundamental security function for businesses.
Security operations centres are critical for improving threat monitoring, detection, and response capabilities of an organization. They provide vital support in identifying, protecting against, and addressing threats such as phishing, malware, data breaches, insider threats, supply chain attacks, DoS/DDoS attacks, and cyber-espionage.
WHAT DOES A SOC DO?
The SOC's primary goal is to maintain an organization's cybersecurity technologies while also working to improve its overall security posture. The SOC team is in charge of managing the daily operational activities connected with an enterprise's network and infrastructure security. In addition to their main focus of detecting, analyzing, and responding to threats, members of a SOC team may also contribute to developing the security strategy or designing the security architecture with their knowledge and expertise. The key functions of a SOC include:
- Overseeing and managing security tools, patches, and updates
- Monitoring event logs across the IT infrastructure for suspicious activity
- Detecting and preventing threats, and gathering cyber threat intelligence
- Investigating, analyzing, and containing cyber incidents
- Recovering lost or stolen data and determining compromised assets
- Addressing vulnerabilities and fine-tuning security monitoring and alerting tools and techniques
- Managing risk and compliance requirements
TYPES OF SOC MODELS
INTERNAL OR IN-HOUSE SOC
Employees of the organization handle all security monitoring in this model. The key benefit of this type of SOC model is that the organization retains complete operational responsibility and control. However, in order to do this the company must hire and retain skilled security professionals and invest in the software and hardware required to operate the SOC, which can be very expensive.
OUTSOURCED SOC
In a fully outsourced SOC, security monitoring is handled by a third-party service provider. This model is usually very easy to install and implement. The organization simply selects a provider and a monitoring plan that meets its requirements. It is quick, scalable and cost-effective compared to other models. The main drawbacks include reduced visibility, loss of control over company data, and lack of expertise in industry-specific threats. Additionally, the monitoring plans provided by the third-party firm may not meet the security and budget requirements of the organization.
HYBRID SOC
A hybrid SOC allows for collaboration between an in-house security team and third-party security experts. It is the perfect blend of both the in-house and outsourced models, resulting in a highly secure approach since the external team supplements and double-checks the work done by the internal team. In addition, this model lets the company control all aspects of the core monitoring function without having to allocate funds for all hours of coverage in-house. Main disadvantages include the need for additional hardware, the handling of data by a third party, and the cost of long-term maintenance.
It is never easy to run a Security Operations Centre and there definitely isn’t a perfect model for all contexts. Whether you decide to insource, outsource, or adopt a hybrid model, will be based on the unique security monitoring and budget requirements of your business.
To learn more about the roles and responsibilities of a SOC, and how to implement one in your organization, read our
blog
on SOCs.
With that, let’s get into the details of what a SOC as a Service or Managed SOC is, and why you should be using one to secure your business.
Managed SOC Meaning Unpacked
Managed SOC – also known as SOC as a Service – is a subscription-based service that enables organizations to “outsource” the SOC function to a vendor. Managed SOC providers are external cybersecurity experts who monitor the company’s IT network, devices, applications and data for known and evolving vulnerabilities, threats and risks. They can provide proactive threat detection, immediate incident or alert response, and incident remediation. There are two types of SOC as a Service: a fully-managed SOC, or a co-managed SOC.
CAPABILITIES AND FEATURES
Essentially, a Managed SOC is like having a team of security experts who are constantly watching over your systems, networks, and data to detect and respond to any security threats. This team is responsible for monitoring your security infrastructure, analyzing security alerts, and providing real-time incident response and remediation services to help mitigate any security incidents that occur.
Managed SOC services can include a variety of different security capabilities, such as threat intelligence, vulnerability scanning, intrusion detection and prevention, security information and event management (SIEM), and security analytics. By outsourcing these security tasks to a Managed SOC provider, organizations can free up internal resources, improve their security posture, and have peace of mind knowing that their digital assets are being protected by experts.
Here are some of the features of a Managed SOC:
- Continuous Monitoring: A Managed SOC provides 24/7 monitoring of an organization's network, systems, and applications for potential security threats. This ensures that any security incidents are identified and addressed promptly.
- Expertise and Experience: A Managed SOC brings in specialized security experts who have the necessary skills, knowledge, and experience to identify and respond to security incidents effectively.
- Threat Detection and Response: A Managed SOC employs advanced security tools and technologies to detect threats quickly and respond to them proactively. This can help minimize the impact of security incidents and prevent future ones.
- Compliance: A Managed SOC can help organizations meet compliance requirements by providing continuous monitoring, incident response, and reporting capabilities.
HOW DOES IT WORK?
A managed Security Operations Center (SOC) is a service that provides continuous monitoring and protection for an organization's information systems and data. The managed SOC provider starts by assessing the client's existing security infrastructure and identifying any potential vulnerabilities and risks. They then deploy and configure security tools tailored to the client's specific needs. The provider continuously monitors the client's network and security infrastructure for potential threats and attacks, 24/7, using a combination of automated tools and human analysts. When a potential threat is detected, the SOC team investigates the incident and determines whether it's a real threat or a false positive. If it's a genuine threat, the SOC team responds to mitigate the risk and prevent the attack from causing damage. Finally, the managed SOC provider provides regular reports to the client detailing the types of threats detected, response times, and overall security posture. A managed SOC provides a comprehensive security solution for organizations that may not have the resources or expertise to manage their own security operations center. It allows companies to focus on their core business while leaving the security monitoring and response to a team of experts.
Why Use a Managed SOC?
In the first nine months of 2020, data breaches exposed 36 billion records (Risk Based Security), with the average breach costing $3.86 million (IBM). Today, that cost has risen to $4.24 million (IBM). In this disquieting landscape, the role of a Security Operations Center cannot be overstated.
However, setting up the SOC in-house involves a significant investment in software, hardware and other infrastructure. It can also take a long time to build a team, obtain the necessary tools and licences, and configure the SOC. These can all be serious barriers, and can prevent the organization from strengthening its security posture.
With SOC as a Service, organizations can easily and cost-effectively eliminate these barriers.
Managed SOC vs MSSP: WHAT'S THE DIFFERENCE?
A Security Operations Center (SOC) is a centralized unit within an organization responsible for detecting, analyzing, and responding to cybersecurity threats. A SOC is typically staffed by a team of security analysts and engineers who use various tools and technologies to monitor an organization's network and systems for potential security incidents. The goal of a SOC is to provide real-time threat detection and response to minimize the impact of security incidents and breaches.
And as we've seen in this post, a SOC can also be an external, managed service, and this is often referred to as a Managed SOC or a SOC-as-a-Service. A Managed SOC is a complete security operations solution provided by a third-party vendor. It includes the people, processes, and technology required to monitor, detect, analyze, and respond to security incidents. A Managed SOC is different from an MSSP (Managed Security Services Provider) in that it provides a more comprehensive security operations solution.
Managed SOCs are typically staffed with experienced security analysts who have access to advanced security technologies and tools. The managed SOC vendor is responsible for managing the SOC team, providing ongoing training and support, and ensuring that the SOC is meeting the customer's security needs and objectives. The vendor may also be responsible for managing relationships with external security vendors, such as threat intelligence providers.
On the other hand, a Managed Security Services Provider (MSSP) is a third-party organization that provides a range of security services to businesses, including monitoring, threat detection, incident response, and other security-related functions. MSSPs typically offer a suite of security services that are tailored to meet the needs of their clients. MSSPs can provide services remotely or on-site, and they often use advanced technologies such as machine learning and artificial intelligence to detect and respond to threats.
While there can be some overlap in the services that a SOC and an MSSP (Managed Security Services Provider) provide, there are some key differences in the roles of each. Here's a quick rundown of the main responsibilities of a SOC and an MSSP:
Internal SOC:
- A Security Operations Center (SOC) is an internal team within an organization responsible for monitoring and responding to security threats in real-time.
- The primary goal of an internal SOC is to detect, analyze, and respond to security incidents that may impact the organization's systems, data, and assets.
- Internal SOCs are typically staffed by the organization's own security professionals and analysts, who are responsible for monitoring security events and alerts generated by security technologies such as firewalls, intrusion detection systems (IDS), and security information and event management (SIEM) systems.
Managed SOC:
- A Managed SOC is a third-party service that provides a complete security operations center solution to organizations.
- The Managed SOC is staffed by security professionals and analysts who monitor and respond to security threats on behalf of the organization.
- Managed SOC services can include 24/7 monitoring, alert triage and investigation, threat hunting, incident response, and security reporting.
- Managed SOC vendors use advanced security technologies and tools to monitor customer networks and systems, detect threats, and respond to security incidents.
- Managed SOC services are typically more comprehensive and can include a wider range of security services than an internal SOC.
MSSP:
- An MSSP is a third-party service provider that provides specific security services to organizations.
- MSSP services can include monitoring and management of security devices and systems, such as firewalls, IDS/IPS, and SIEM systems, as well as vulnerability management, threat intelligence, and security reporting.
- MSSPs can provide cost-effective security solutions to organizations that may not have the resources or expertise to manage these services in-house.
- MSSPs often provide standardized services that are tailored to the customer's specific security requirements.
- MSSPs may not have access to the same internal resources and information as an internal SOC.
In summary, the main difference between a SOC and an MSSP is that a SOC is an internal team within an organization responsible for managing security incidents, while an MSSP is an external service provider that offers security services to organizations. A SOC typically focuses on a specific organization's security needs, while an MSSP can serve multiple organizations at the same time. Additionally, MSSPs typically have a wider range of security services and expertise compared to an internal SOC team, which may not have access to the same level of resources and expertise as a specialized MSSP.
Benefits of SOC As a Service
Technology Deployment and Management
Through the cloud-based/subscription-based Security as a Service, organizations can speed up SOC technology deployment. Since they don’t have to set up their own security tools or processes, the SOC deployment period is very short. Some managed SOC providers can start monitoring an organization’s environment in just a few weeks, providing proactive protection with minimal delays.
On-demand Access to Experts
Security as a Service provides on-demand cybersecurity experts who are skilled at threat monitoring, assessment, response and remediation support. They can immediately start monitoring the IT environment for potential cyber threats and risks for ongoing, reliable protection.
Security Event Prevention and Management
Security events could potentially have serious information security implications. To stay on top of them and ensure that they don’t lead to other problems, they must be continuously logged and evaluated. This is easier to do with a managed SOC.
Security Incident Prevention and Remediation
A security incident is a viable risk that can result in tangible damage, such as operational disruptions or data loss. A SOC as a Service provider can continuously review suspicious behaviours and alerts to prevent possible security incidents. They also remediate detected threats, either independently or by working with the client’s internal IT team.
Proactive Threat Protection
The best managed SOC providers work with numerous clients and can therefore leverage economies of scale. If their analysts identify a threat in one client’s IT ecosystem, they can roll out necessary updates to protect other clients as well.
Managed Detection and Response (MDR)
SOC as a Service is ideal for small/medium businesses looking for MDR capabilities. Managed SOC providers can offer managed threat hunting, incident snooping and triaging, malware analysis, and even post-incident recommendations to prevent future attacks.
Threat Intelligence Management
For comprehensive protection, threat information is not enough. This information must be enriched with the right context at the right time to make it actionable and effective. This is the meaning of threat intelligence. An external managed SOC team can collect and prioritize threat data and add the right context to create threat intelligence, gain a better understanding of real threats, and thus shore up defences. They can also effectively research and triage multiple alerts that come in from disparate data sources to improve alert response and reduce the “alert fatigue” that internal SOC teams often struggle with.
Managed SOC Pricing
The managed SOC model offers a clear cost advantage over traditional SOC. Many providers offer multiple package options, which usually include some fixed offerings with some possible customization. An introductory package may include managed SOC for a certain time period (e.g. 8×5), as well as security processes and procedures, identity and security advisory, and research and development. A more advanced package will likely expand the SOC scope to include 24×7 emergency assistance. The most advanced packages usually provide full 24×7 coverage, as well as all the services included in the other two packages. Depending on the chosen package, managed SOC pricing can range from $750/month to $50,000/month.
FACTORS THAT IMPACT MANAGED SOC PRICING
Some of the most significant factors that can impact the pricing of a managed SOC are:
- Scale of the SOC: The size and complexity of the SOC can significantly impact the cost of a managed SOC. A larger SOC with more extensive infrastructure and resources will generally require more investment, and therefore the pricing for its management will be higher.
- Level of service: The level of service offered by the managed SOC can also impact its pricing. Higher levels of service such as 24/7 monitoring, real-time threat detection, incident response, and remediation services will typically result in higher pricing.
- Technology stack: The technology stack used by the managed SOC can also play a role in pricing. Advanced technologies such as machine learning, artificial intelligence, and automation can enhance the capabilities of a SOC, but they also require a higher investment, leading to increased pricing.
- Compliance requirements: If a company needs to comply with specific regulatory frameworks such as HIPAA or PCI-DSS, a managed SOC that can meet those requirements will likely command a premium price.
- Reputation of the provider: The reputation and experience of the managed SOC provider can also play a role in pricing. Providers with a proven track record of delivering quality SOC services will often charge higher prices.
- Customization and integration: Customization and integration of a managed SOC with the organization's existing security infrastructure can also affect the pricing. The more customization and integration required, the higher the cost.
- Geographical location: The geographical location of the managed SOC can also impact pricing. The cost of labor and infrastructure can vary significantly depending on the location, resulting in different pricing structures.
MANAGED SOC PRICING MODELS
The pricing models for managed SOC services can vary depending on the vendor and the level of service provided.
Here are some of the common pricing models for managed SOC services:
Per-device pricing: This pricing model charges a fixed fee for each device (e.g., server, endpoint, firewall, etc.) that is being monitored. This model is suitable for organizations that have a small number of devices to monitor.
Per-user pricing: This model charges a fixed fee per user account being monitored. It is commonly used for cloud-based services like SaaS applications, where user accounts are a key metric for billing.
Tiered pricing: This pricing model provides different levels of service at different price points, based on the number of devices, the level of monitoring, and the response time. This model is ideal for organizations with diverse security needs.
Event-based pricing: This model charges based on the number of security events detected by the SOC. The more security incidents that are detected, the higher the cost. This model is well-suited for organizations that want to pay for services based on the actual security events that occur.
Subscription-based pricing: This pricing model charges a fixed fee for a period (e.g., monthly, quarterly, or annually) regardless of the number of devices or incidents. This model is suitable for organizations that have a fixed budget for cybersecurity services.
When comparing these models, it's important to consider factors such as the level of monitoring and response time provided, the scope of services included, and any additional costs such as setup fees, integration fees, or incident response fees. Additionally, organizations should consider the experience and reputation of the SOC vendor, as well as their compliance with industry standards and regulations.
Conclusion
