With the average data breach costing E.U. businesses €20 million and cyber security incidents rising to over 39,000 worldwide, the need to fortify your organization against cyber threats is more important now than ever.
One effective way businesses combat cyber-attacks is by implementing a security operations centre (SOC).
Essentially an all-in-one managed security solution, SOC monitoring provides comprehensive, real-time cybersecurity solutions via threat detection and response measures.
But what are the typical costs associated with hiring a MSS/SOC-as-a-Service?
To find out more information regarding MSS/SOC pricing, our article covers costs regarding SOC-managed security, common SOC-as-a-Service levels, as well as the value in paying more for the right security experts.
In addition to your organization’s budget, there are a few factors that influence SOC pricing.
When considering your SOC approach, make sure to factor in:
Time: Structuring an internal SOC can take months if not years to fine-tune. This becomes especially obvious when you think about the hardware, software, and personnel requirements. Depending on where you are in your SOC journey, you may have to spend extra time remediating IT gaps.
People: Finding retainable IT talent is challenging because it’s a field with a high turnover rate. From sourcing and interviewing to hiring and on boarding, it can take months to find strong IT talent.
Scalability: Threat hunting is a SOC function that’s continually growing both in volume and sophistication. Given the increasing complexity of the global IT environment, SOCs and software platforms providing threat detection and response solutions now incorporate full cloud functionality—scaling can occur rapidly and on the fly.
Infrastructure: To proactively monitor your threat landscape, a SOC needs a security team with significant hardware infrastructure investments. Over time, as software iterations and new tools become available and implemented, staff working hours must be spent learning the new tools rather than focusing on remediating active threats.
Entry-Level SOC
Entry-level SOC-as-a-service pricing is the most affordable and often includes a combination of information security monitoring services for areas such as access control, encryption, performance monitoring, processing integrity, and firewall protection.
Overall, entry-level SOC provides minimum coverage and likely won’t have 24/7 security but it’s still a better alternative than not having a security operations centre at all.
Standard SOC
The standard SOC level provides a thorough SOC strategy for threat detection, prevention and investigation. Generally, this level offers IT automation to help augment team capabilities in addition to an appropriately-sized security team.
Best-in-Class MSS/SOC
Best-in-class SOC-as-a-service features dedicated full-time security experts that proactively identify and prevent network threats around-the-clock. This level of protection is ideal for organizations looking to eliminate threats before they impact business operations.
MSS/SOC-as a Service Pricing Costs
The building and operating costs of a SOC depend on an organization’s security needs and their preferred SOC level. Staffing costs personnel like security analysts, security engineers, and SOC managers are included in addition to aggregated low and high-cost SOC estimates.
MSS/SOC-as a Service Pricing Costs
The building and operating costs of a SOC depend on an organization’s security needs and their preferred SOC level. Staffing costs personnel like security analysts, security engineers, and SOC managers are included in addition to aggregated low and high-cost SOC estimates.
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