A Security Operations Centre (SOC) is a team solely focused on keeping your business safe from cyber security threats. This team includes managers, security analysts, and engineers, who work closely with your business and/or IT personnel to monitor, identify, and tackle any cyber threats which your business may face.
A 2023 report commissioned by IBM, highlighted that the global average cost of a data breach was GDP 3.48 million, a 15% increase over 3 years. In addition to this, the study identified that it takes businesses on average 287 days on average to find and deal with an advanced cyber security breach.
A Security Operations Centre (SOC) provides a key role in improving these statistics, providing businesses with a dedicated team of Cyber Security Experts who actively work to identify and hunt out potential threats which face your business. To stay ahead of the evolving cyber security threats which businesses are facing, there is an increasing need for a coordinated response to attacks, requiring the need for trained and experienced dedicated security professionals, advanced tools, and well-structured processes.
A SOC understands your business’s technology assets, and systems. By doing so they can identify potential vulnerabilities, both in the physical and digital space. They work to ensure the security of your business assets like your network infrastructure, your users' roles, responsibilities and access levels & the software and systems. Even the most sophisticated Cyber Security tools are fallible, a SOC team actively monitors for and hunts out cyber security threats using sophisticated tools and techniques to be able to actively work against the most sophisticated threats.
If an incident occurs, they can determine its severity and potential impact on your business to shape an appropriate response and defence.
Post-incident reviews using SIEM (Security Information and Event Management) Logs and other tools gather information about the attacker's methods to see if new monitoring rules are needed and help develop defences against similar attack vectors in the future.
Having a dedicated SOC Team available to your business offers wide-ranging security benefits, such as ongoing network monitoring, unified visibility, lower cyber security costs, and improved collaboration.
One key term to grasp as part of this is "dwell time," which is the time taken by a business to detect a cyber attack on its network. For businesses that are not protected by a SOC solution, malicious threat actors could potentially have access to, key systems, copy key data and be spreading access through your key business infrastructure for months before they are noticed or launch a ransomware attack which could cripple your business.
A SOC plays a significant role in considerably reducing this dwell time. With well-established processes, SOC teams can quickly identify potential threats using cyber security logging, anomaly analysis, alert reviews, and threat intelligence to allow them to respond quickly and prevent significant damage.
By continuously monitoring for threats, quickly responding to incidents, and providing insights into your security status, a SOC significantly enhances your business safety.
Any business looking to shield itself from cyber threats should consider a SOC solution. This is especially relevant for businesses that are:
· Small or Medium Sized: These businesses often lack the internal resources and skills to establish, run and maintain a 27/7 Security presence. By implementing a SOC solution, businesses can easily equip themselves with the necessary 24/7 expertise and resources to monitor and defend against cyber threats.
· Remote-First: Businesses with large remote teams are more prone to cyber attacks, often because remote workers use personal devices and networks (personal and public) to access company data. A SOC provider can help safeguard these businesses by monitoring remote devices for potential threats to safeguard them.
· Operating in Regulated Industries: Businesses in industries with strict regulations often require access to a 24/7 Cyber Security presence such as A Security Operations Centre. A SOC provider can assist these businesses in meeting their regulatory requirements whilst reducing the need for in-house expertise.
Understanding Your Business: Knowledge of all IT assets, including hardware, software, and data. Your SOC should have a detailed understanding of every component of your infrastructure.
Log management: Everything noteworthy should be continuously monitored and recorded for any future forensic investigations.
Early detection: The quicker you know about a breach or malicious activity, the quicker you can act. Waiting weeks or months for detection is not an option.
Management of Vulnerabilities: Always assessing potential network gaps allows for an overarching view of organisational vulnerabilities.
Threat Awareness: Keeping an eye on the constantly changing threat landscape allows your SOC to adjust defences as needed.
Compliance: A SOC can be invaluable for any business seeking protection from cyber threats. With a SOC, businesses can reduce data breach risks, enhance regulatory compliance, and increase their peace of mind.
As a leading Cyber Security Solution provider, TwentyFour IT have our own Security Operations Centre which offers our customers 24/7 Cyber Defence, protecting them from potential threats. To find out how we can assist, contact us today.