SOC-as-a-service offers businesses a cost-effective way to fortify IT defenses against cyber-attack. Just as businesses’ sizes are different, so are their needs. Regardless, SOC-as-a-service offers catered solutions to each one of them, at a pricing range that suits them.
However, SOC-as-a-service pricing varies depending on the security and financial needs of the company—so, how can you be sure you’re making the right purchasing decision?
What Is SOC-as-a-Service?
Data security is one of the most popular buzzwords in the IT sector. And while we’re generating more data online than ever before, at the same time, it’s leading to a massive increase in cyber-attacks that the mere ‘laser-focus’ isn’t going to suffice.
Modern businesses must protect, defend, attack, and probe every and any cyber-threat. 24 hours a day, 7 days a week. And they have to do this without failing or breaking the bank.
When a business demands the highest-level cyber-security, they can manage this in-house or turn to a managed security operations center (SOC). SOC-as-a-service is an external, centralized system that lets companies reap the benefits of security experts and technologies without slipping into the red.
Generally, a managed SOC service offers the following benefits:
- Monitor, detect, investigate, and analyze threats
- Maintain, back-up, audit, and report current defenses
Operating both remotely and on-site, managed SOC solutions call on an impressive wealth of capabilities to protect a business. Features to look out for include:
- SIEMless log monitoring—which tracks network activity for enhanced notification and reporting
- Intrusion monitoring—to track suspicious events and unauthorized connections
- Threat intelligence and hunting monitors—for the latest threats in real-time, around the clock
- Breach detection—which quickly identifies attackers and logs unauthorized activities
- PSA ticketing—in order to keep SOC analysts and businesses connected and alerted to security recommendations
- Next-gen malware—which grants businesses access to a managed SOC’s smart malware detection tools
How Does SOC-as-a-Service Support Businesses?
With cyber-attacks on the up, all businesses must guard against data breaches to protect their intellectual assets, customer data, and their hard-earned reputation. If that wasn’t reason enough, they must also comply with global data privacy laws like NIST and GDPR, or face harsh fines.
In certain industries, such as financial services, a focus on operational resilience is driving IT security standards and compliance further than ever before.
Advantages of an Organization Protected by SOC-as-a-Service
Quick Reaction Time
The online world moves fast. Threats are becoming more sophisticated by the day. The ability to act fast if you’re hit and recover from outages is essential.
Greater Visibiliy
The more of your system you can see, the better you can manage vulnerabilities. A managed SOC keeps you alert to threats wherever they might arise. Reports can be scheduled, generated, and delivered to key stakeholders in the meantime.
Wider Knowledge Pool
SOC-as-a-service companies are served by highly skilled experts steeped in years of experience. Teams with that level of knowledge are a huge source of expense for companies maintaining on-premises security. Flexible SOC-as-a-service pricing models make these experts accessible for businesses of any size.
Advanced Systems
Managed security centers run on the best technology to ensure out-and-out security. As with the experts manning the systems, bringing this technology in-house would be a major cost—for hardware and on-going maintenance and updates.
Increased Competitiveness
Customers and clients value their online privacy and security. Whatever happens to your competition, having a managed SOC gives the confidence to your clients to choose you over anyone else.
Better Data Secuirty
Your data is a business-critical asset. Protect it at all costs. Because data breaches come with serious legal, operational, financial, and reputational impact on your business, don’t take chances—whatever solution you choose. Alongside secure data storage, SOC-as-a-service also offers reliable back-ups and advanced encryption tools.
Lower Costs
SOC-as-a-service pricing—a monthly or annual fee—is generally less expensive than running security operations in-house. It remains one of the main reasons why businesses, big and small, choose SOC-as-a-service: because they can find a managed SOC solution that fits their budget.
How Does SOC-as-a-Service Pricing Improve Business Costs?
As a business, you’re constantly balancing the books. You know your cyber-security is absolutely vital. And you know it isn’t always cheap. On the one hand, in-house security almost always costs more money and demands big initial investment on hardware, software, staff, and training. In the long run, however, that might be best for your business.
On the other hand, Managed SOC offers a cost-effective solution that doesn’t compromise on service. So, it might sound more feasible in terms of initial and running costs.
But it’s important to carefully assess each option. If in doubt, talk to one of our tech experts to see what solutions meet your objectives and budget.
The SOC-as-a-service subscription model offers much more flexibility, whatever the budget. There are no upfront fees and big outlays that are tricky to justify. Managed SOC prices are clear, allowing for simpler budgeting.
SOC-as-a-service may give you access to a dream team of experts, but it also means your own teams can add value where your business needs them most. Operations, now secured by your external security center, can be further improved, streamlined, and enhanced to benefit the bottom line.
How Is SOC-as-a-Service Pricing Costs Calculated?
When you choose a SOC-as-a-service, there’s no single fixed fee. How much you pay depends on your individual business needs.
Usually, prices are dictated by the number of users and endpoints to be protected. You may also need to add additional components for even greater protection. Similar to other subscription services—for instance, Office 365, Netflix, and others—many managed SOCs offer a variety of packages to suit your needs, with the flexibility that supports your business growth.
Talk to your chosen SOC-as-a-service provider to find out how much essential defense catered to your needs will cost.
How Do You Choose the Right Solution?
Like any major purchase, this isn’t a decision to be rushed. No business wants to spend money (and waste time) on technology and tools that end up gathering dust. It’s essential to find the right solution and the provider at a justifiable price for you.
As you start your journey, take steps to identify your needs, goals, and budget. Bring key stakeholders into the conversation as early as possible and build that all-important internal buy-in. And even if you’re not entirely certain how to take this project forward, get in touch with us at Logic V. We have years of experience helping businesses digitally transform operations to meet the modern landscape.
