53% of companies find their in-house security operation centers to be ineffective in analyzing and responding to incidents. A huge percentage of CISOs agree that their in-house SOCs failed because they lacked vision. On the other hand, Managed Security Service Providers (MSSPs) have garnered the benefit of connected security operation centers. MSSPs have relied on SOCs to offer robust and round the clock cybersecurity to businesses of all sizes.
Security Operation Centers were established to combat the growing threat of cyber-attack and data breaches. In-house SOCs focused on building a robust security network but the growing cost of infrastructure and lack of efficiency coaxed CISOs into closing them. Over 35% of businesses shut their in-house SOCs while the rest 65% never built one.
The real potential of security operation centers was leveraged by Managed Security Service Providers. Over time, they built a cluster of such SOCs and started offering real-time analysis, detection and response to incidents.
What are the Security Operation Centers?
In contemporary times, it is ok to label SOCs as an outsourced workroom that monitors traffic and tackles threats in real-time. These centrally located centers are now the first preference for multi-national companies as well as nascent start-ups. These centers offer both rugged as well as affordable security against growing threats.
The popularity of cloud-storage coaxed industry leaders into developing a Software as a Service kind of tool to monitor cyber-threats. SOCs have simplified the varied cybersecurity needs by functioning 24X7 and monitoring end-to-end threats.
How does a Security Operation Center work?
MSSPs offer rented expertise of industry leaders to businesses of all scale through SOCs. The 24X7 scrutiny of network simplifies the process of identifying and blocking harmful elements. With a focus on business continuity, SOCs also monitor for compliance failures.
The next generation of affordable cyber-security relies on a connected series of SOCs. Together these centers monitor networks and share reports of unidentified movements with each other. Such a robust perusal of the network makes it easier for CISOs to plan their next step. With a clear understanding of developing threats, businesses can build their firewalls and stop attacks from creating tangible damages.
The standard modus operandi of security operation center includes:
Asset Traversing: Since SOCs are approached by companies that have cloud as well as traditional storage, traversing them becomes a necessity. The probe allows the MSSPs to understand the correct position of security. These traversing often reveals:
- Breaches that occurred in the past
- Compliance failures
- Firewall loopholes
- And the need for infrastructure overhaul
Log Collection: With managed security services everything is dependent upon data collected. By monitoring traffic, collating and analyzing data, SOCs prepare a contingency plan, which later becomes the base of scrutiny.
Preventive Maintenance: Once the perusal is done and experts have a clear understanding of the network. They take measures to either boost it or cover the loopholes. Some of the common measures taken include:
- Upgrading firewall
- Security patchwork
- Sabotaging internal threats
- Measuring the impact of breaches from the past
Constant Monitoring: In order to weed out unauthorized access, internal loopholes and any suspicious activity monitoring the network is important. Constant monitoring makes it easier for SOCs to plan their future steps. The plan that is prepared after thorough scrutiny is often foolproof and impactful in the long run.
Alert Management: Based on the nature of industry and history of cyber-attacks, SOCs prioritize alerts. Alerts are prioritized on the basis of impact. For a Fintech start-up, phishing is the most heinous while for e-commerce industry DDoS attacks are dangerous. SOCs first study the industry, the kind of threats it receives and then prepares a security plan.
Root cause analysis: The cybersecurity experts working from the remote security operation centers start looking for the root cause as soon as a breach occurs. Since these centers work in collaboration with each other, it gets easier for other centers to stop the attack from occurring for their clients. Root cause analysis not only exposes the routes but also puts in front of the security failure that let the attack occur.
Compliance Audits: All the perusal, scrutiny and analysis are carried out to help organizations avoid attacks and hefty fines. By running compliance audits from time to time, SOCs can save businesses from paying $5000-$100,000 in fines for PCI DSS and ISO compliance failures.
The incomparable benefits of relying on SOCs include:
Third eye view of your cyber asset: Since SOCs are always analyzing your site for attacks and suspicious activities, you can carry out business development and expansion work without worries. The third-eye view simplifies a lot of things, which includes threat detection, neutralization and finding new opportunities for strengthening cybersecurity.
Solidifies the trust of clients: If your business is dependent upon experienced Managed Security Service Provider then third-parties will proceed confidently. Since no organization wants to be a part of cyber-attack and undergo all the damage, they want to collaborate with businesses that have their cybersecurity needs sorted.
Improves the coordination between varied departments: Since SOCs rely on the third-eye view for threat detection and neutralization, they need varied departments to work in sync. Often SOCs help businesses simplify the relationship between the departments. By identifying and removing data silos, these cybersecurity experts help organizations become more agile.
Minimizes cost by maximizing awareness: Building and maintaining an in-house SOC is not only expensive but a tiresome task. 65% of CISOs resign within the first year of joining because companies fail to provide the requisite resources to run SOCs efficiently. By outsourcing cybersecurity to MSSPs, organizations maximize their security while minimizing the cost. Security operation centers also protect an enterprise’s data, reputation and internal processes from external threats.
Today, Security Operation Centers are the nerve center of varied cybersecurity programs. These centers have the potential to either make or break organizations’ potential to analyze, detect or respond to incidents in a timely fashion. Such a robust approach to identifying errors in-network and neutralizing them before it leads to something tangible is perhaps the need of the hour.