What is a managed SOC service, and is it right for you?

Cybersecurity is a critical concern for any business, yet managing it effectively can be a daunting task. 

But what if you had a team of cybersecurity experts monitoring your systems 24/7, ready to respond at a moment's notice? 

With a managed Security Operations Center (SOC) service, you do. 

By outsourcing your security monitoring and threat response, you can focus on running your business while experts handle the cyber threats. Let's explore the benefits of SOC as a service and how it can safeguard your organization. 

We’ll cover:

• What is a managed SOC service?
• Benefits of a managed SOC service
• How does a managed SOC service work?
• Is a managed SOC service right for you?
• Next steps: Optimize security with Meter

What is a managed SOC service?

A Security Operations Center (SOC) is a centralized unit that monitors and manages an organization’s security. 

A managed SOC service involves outsourcing these operations to a third-party provider, offering expertise and resources beyond what an in-house team might provide. Key functions of a managed SOC include:

• Continuous monitoring: 24/7 surveillance to spot potential risks.
• Threat detection: Identifying and analyzing suspicious activities.
• Incident response: Rapidly addressing and mitigating security incidents.
• Vulnerability management: Recognizing and managing security weaknesses.

A managed SOC can quickly respond to a detected cyberattack, minimizing damage and restoring normal operations before it affects the business.

Benefits of a managed SOC service

Outsourcing SOC operations can be a strategic move for businesses. Here are a few benefits of working with a managed SOC: 

24/7 Monitoring and support

A managed SOC provides continuous surveillance—meaning that your network is always protected, even outside of regular business hours. 

For example, if a suspicious login attempt occurs at midnight, the SOC team can immediately investigate, respond, and mitigate. Without 24/7 monitoring and expert support, threats detected outside regular business hours could go unnoticed, leading to significant damage. 

Continuous monitoring and expert support help maintain a secure environment, ensuring business continuity and protecting sensitive data.

Access to advanced security technologies

A managed SOC service protects your network with advanced tools and technologies. AI-powered analytics and machine learning quickly identify and respond to emerging threats, detecting patterns and anomalies that human analysts might miss.

Regular updates ensure security tools and software stay current with the latest patches and upgrades. Continuous evaluations and improvements help adapt to new threats.

Without advanced technologies and updates, security measures can become outdated. A managed SOC keeps your network secure with the latest innovations, providing peace of mind.

Expertise and experience

A managed SOC service gives you access to skilled cybersecurity professionals, enhancing your network’s security. These experts bring specialized skills and extensive experience in handling diverse security threats across various industries. They use proven methods and best practices to identify and respond to incidents effectively.

Without the expertise of a managed SOC, your organization may struggle to handle complex security threats. A managed SOC offers robust protection and rapid incident resolution through professional skills and industry experience.

Cost efficiency

A managed SOC service offers a cost-effective alternative to building and maintaining an in-house SOC, providing scalable services tailored to your needs.

It eliminates the need for significant upfront investments in hardware, software, and staffing. The managed SOC provider also handles maintenance and upgrades, reducing ongoing operational costs. 

A managed SOC also allows you to scale services up or down depending on your business requirements. This level of flexibility means you can easily adjust security resources without incurring additional costs.

An even more cost-effective option is Meter’s Network as a Service. Network management and security are just one component of our full-service solution. Your subscription includes 24/7 operations, security appliances, switches, access point upgrades, and complete installation. 

Faster incident response

A managed SOC service means immediate detection and response to security incidents, minimizing the impact of breaches through quick resolution.

With real-time monitoring, instant alerts, swift analysis, and immediate action by dedicated security professionals, incidents are managed before they can progress. For example, if a malware attack is detected, the SOC team can isolate affected systems and begin remediation immediately.

This reduces downtime and data loss, limits the spread of threats, and prevents further damage to the network. 

Compliance and reporting

Keeping up with regulatory requirements and maintaining proper documentation can be challenging without a managed SOC. A managed SOC service helps your organization meet compliance requirements by providing detailed reporting and documentation of security activities.

They offer expertise in navigating complex regulations, such as HIPAA. They also maintain thorough records of all security events, actions taken, and outcomes. This creates transparency and accountability, which is crucial for future security planning.

How does a managed SOC service work?

Understanding how a managed SOC works is key to seeing its value. Let’s break down the four main parts of SOC service:

• Initial assessment and onboarding: The managed SOC team learns about your business and its specific security needs. They set up and configure the necessary tools and systems to monitor your network effectively.
• ‍Continuous monitoring and threat detection: The team keeps an eye on your network 24/7, looking for any unusual activity or potential threats. They use advanced tools and techniques to spot and quickly identify these threats.
• ‍Incident response and management: When a threat is detected, the managed SOC team investigates and contains it. They work to resolve the issue and minimize any damage to your business.
• ‍Regular reporting and analysis: The team provides regular reports on your security status and any incidents that occurred. They also analyze the data to improve future threat detection and response, keeping your business safer.

With expert monitoring and swift incident response, a managed SOC ensures your company's security and your peace of mind.

Is a managed SOC service right for you?

Determining whether a managed SOC service is the right fit for your organization involves evaluating your specific needs and capabilities. Here’s how to assess if outsourcing your security operations can benefit your business:

Assessing your needs

Determining whether a managed SOC service is right for you begins with a thorough assessment of your network and current security measures.

First, determine the size and complexity of your network to define the scope of protection needed. Conduct a network audit by:

• Mapping out all network components, including devices, users, and data connections.
• Identifying critical assets that require the most protection.

Then evaluate your current cybersecurity capabilities and identify any gaps with a security assessment that includes:

• Evaluating existing security policies, tools, and incident response procedures.
• Identifying gaps in coverage or areas where current measures are insufficient.
• Determining if your current team and tools can handle the identified security needs.
• Considering future growth and how it may impact your cybersecurity requirements.

Cost considerations

Understanding the financial aspects of a managed SOC service is essential before making an informed decision.

First, analyze the expenses associated with building and maintaining an in-house SOC: 

• List all expenses, including salaries, benefits, training, hardware, and software.
• Consider ongoing costs like updates, maintenance, and staff turnover.
• Obtain detailed pricing from multiple providers to understand the cost of outsourcing.
• Compare these quotes to your in-house cost estimates.

Assess your budget and consider the return on investment (ROI) that a managed SOC can provide through enhanced security and reduced risk. 

Keep in mind that a managed SOC comes with round-the-clock expertise and advanced tools at a fraction of the cost of an in-house team, offering better value for money.

Scalability and flexibility

To factor in scalability and flexibility, evaluate if your current security setup can scale as your business expands and evolves. 

Take a quickly growing startup, for example. As it expands into a mid-sized company, it may need more robust security measures that an in-house team might struggle to implement quickly.

Determine if your security needs can be quickly adapted to new threats or changes in business operations. Consider past instances where on the spot adjustments were necessary and how they were handled.

Before committing to a managed SOC provider, discuss:

• How they handle scaling and adapting their services.
• Whether contracts and solutions are flexible.
• How they handle increased security measures as businesses expand.

Expertise and resources

Evaluating the availability of expertise and resources is crucial when deciding if a managed SOC service is the right choice for your organization.

Assess whether your organization has the necessary cybersecurity talent to manage an in-house SOC effectively. Teams lacking in advanced threat detection skills might struggle to handle sophisticated attacks, making a managed SOC a better option.

Building an in-house SOC requires significant investments. Calculate the resources needed to establish and sustain an in-house SOC, including: 

• New technology and security software
• Hiring skilled cybersecurity professionals
• Training and upskilling current IT professionals
• Continual upgrades to the latest security technology

Weigh the benefits of having an in-house team against the advantages of outsourcing to a managed SOC. Consider the long-term implications on budget, resource allocation, and security effectiveness.

Next steps: Optimize security with Meter

Meter streamlines network management with our cloud-based, integrated solutions—a strong alternative to a managed SOC. 

We offer a complete service that covers everything from design and installation to ongoing maintenance and support, ensuring your network remains secure. Subscriptions include:

• Built-in security: Our centralized platform enforces security policies, provides DNS security, malware protection, VPN capabilities, and delivers real-time insights to prevent unauthorized access and protect data integrity.
• ‍Total network visibility: With our user-friendly dashboard, you can monitor and control your network remotely, automate configurations, and reduce the need for manual IT interventions.
• ‍Increased speed and reliability: Our integrated security appliances, routing, and switching ensure seamless network operations, high availability through redundancy, and proactive enterprise controls.
• ‍Multi-WAN capabilities: Distribute network traffic across all active connections using a round-robin method, enhancing network reliability, boosting speed, and optimizing ISP usage.
• ‍Automatic failover: We support multiple ISPs to ensure failover. We'll collaborate with you to determine the best configuration for your company.

Contact us for a demo of Meter to see how we keep networks secure while minimizing risks and vulnerabilities.