How a SOC as a Service (SOCaaS) Strengthens Cyber Resilience

The number of cyberattacks that are leveled against businesses continues to rise, and hackers do not appear to be deterred by standard defenses. An enterprise-level firewall or even the best anti-virus software remains inadequate against the increasing sophistication cybercriminals have demonstrated in recent years. Unless industry leaders ramp up their data protection by embracing determined measures, such as adopting Security Operations Center as a Service (SOCaaS), companies could find themselves lumped into these statistics.

• More than one-third of small businesses reportedly suffered a security and data breach within 12 months.
• Approximately 60 percent of organizations are stung by some type of ransomware annually.
• Experts indicate that 90 percent of corporations are vulnerable to cyberattacks.
• More than half of U.S. businesses reported lost or compromised data in 2023.

Adding insult to injury, it’s difficult to apply accurate metrics regarding how many business and individual records are compromised each year. The FBI puts forward statistics that show marked year-over-year increases. But, truth be told, not every organization reports data breaches. Some quietly pay off hackers who seize control of an organization using ransomware. Others don’t see the point in opening themselves up to regulatory fines when the harm was limited to their operation. The critical takeaway is that threat actors are chalking up more wins, and hard-working business leaders are paying the freight. Those are reasons to consider a SOC as a service. At Red River, we hope the following information helps you make an informed decision about how best to protect your digital assets and livelihood.

What is a Security Operations Center?

A security operations center is a facility or team that centralizes network traffic for the purposes of monitoring, analyzing, detecting and deterring threats. In some cases, a corporation will invest in the infrastructure, cybersecurity personnel and technologies to maintain an in-house SOC and staff. This approach has proven unwieldy due to the high cost of the infrastructure, ever-changing technology and skills shortage.

The U.S., like other countries, cannot find enough qualified cybersecurity professionals to fill existing positions. Add attrition rates, the need to take time off for ongoing education and training, and the inability of most businesses to fund a SOC is all but a non-starter. That’s largely why thought leaders are pivoting to SOC as a Service providers to fill the void.

How Does SOC as a Service Work?

SOC as a Service providers normally offer subscription-oriented solutions. Many include limited flexibility and scalable rates. The SOCaaS delivers the same basic cybersecurity posture as a company-funded in-house SOC. The key difference is that a third-party cybersecurity firm handles the 24/7 monitoring, threat detection, incident reporting and technology. This allows organizations to leverage cybersecurity expertise and tools without the cost and overhead of building and maintaining a dedicated in-house SOC. Because SOC as a Service providers are fully staffed third-party firms, they have the knowledge, accreditations, cybersecurity experience and 24-hour SOC teams to oversee a variety of networks.

Multiple organizations typically subscribe to the SOC as a Service provider’s offerings, thereby lowering the cost for small, medium and large companies. The third-party cybersecurity organization customizes the data protections assigned to each client. Using AI, machine learning and other high-level resources, anomalies and suspicious activity are caught in real time. Depending on the prevailing data privacy requirements, automated responses are carried out when threats are low. False positives are filtered aside, and concerning alerts are promptly addressed by the appropriate cybersecurity professional.

Strengthening Cyber Resilience with SOC as a Service

Discussions involving cybersecurity are primarily focused on the negative impact hackers have on networks, as well as on keeping sensitive and valuable data out of their hands. That entails a variety of efforts designed to deter threat actors, expel intruders, deal with malicious applications and address affordability concerns. These are ways SOC as a Service providers use their expertise, skills and technology to strengthen an organization’s cyber resiliency.

24-Hour Monitoring and Threat Detection

It’s important to keep in mind that a hacker sitting in a café halfway around the world is immune to prosecution and doesn’t keep 9-to-5 hours. While business professionals are asleep in their beds, cybercriminals are attempting to burglarize cloud-based systems across the globe. Cybersecurity efforts must match the abilities and times of day hackers launch attacks.

Using next-gen analytics, machine learning, AI and other technologies, threat actors cannot infiltrate networks without being caught and expelled, regardless of whether the company is open or closed. Constant vigilance is required to keep confidential and valuable information secure. SOCaaS providers offer network monitoring and detection services 24 hours a day, 7 days a week.

Top Threats SOC as a Service Providers Detect

A SOCaaS provider brings powerful tools to bear to identify wide-reaching threats. A SOCaaS solution can be tailored to perform deep dives into network traffic to find specific dangers. These rank among the most prevalent schemes that SOC as a Service providers detect.

• Malware: Malicious software is designed to negatively affect a digital network in various ways. It can infect individual computers and devices or carry out attacks. Ransomware is a type of malware that seizes control of an organization’s digital holdings until a cryptocurrency payment is made to get a decryption code. Once the system is no longer held hostage, operational control may resume. A SOC as a Service provider offers blanket malware detection that covers in-house computers, assets and applications stored in the cloud, as well as endpoint device activity.
• Distributed Denial of Service (DDoS): Mid-level hackers can orchestrate a DDoS attack that effectively overwhelms a business network, locking out legitimate users. Using a legion of bots, the volume of activity allows hackers to pilfer off sensitive and valuable information while business leaders and security professionals are temporarily sidelined. By leveraging SOCaaS, early detection triggers real-time alerts so DDoS attacks never get off the ground.

Disgruntled employees, corporate spies and advanced persistent threats acting on behalf of rogue nations can threaten a corporation from within. Along with measures such as zero trust architecture and multi-factor authentication, a SOC as a Service approach notices even the slightest deviation in a user’s normal activity. Ongoing monitoring, coupled with AI and machine learning, ferrets out potential abuses and insider threats quickly and effectively.

Real-Time Responses

The average cyberattack would normally take upwards of 277 days to identify and weeks, if not months, to contain. The Solar Winds supply chain attack affected 30,000 private and public sector organizations. Hackers gained access to SolarWinds in September 2019. They lingered, testing malicious code out on the company’s software updates until February 2020. The organization sent out the tainted software update in March 2020, and it wasn’t reported until December 2020.

A SOC as a Service provider delivers faster response times than other cybersecurity approaches. It utilizes AI and machine learning to cull together and analyze massive amounts of information in seconds. A SOCaaS program also performs threat-hunting assessments by taking a deep dive into areas of a network and traffic that are rarely reviewed. In other words, an SOCaaS provider would likely have received an alert on day one, not 14 months after the fact.

Access To Cybersecurity Expertise

The global skills gap makes onboarding certified cybersecurity professionals difficult, if not unsustainable. Even if a company could recruit enough professionals to run a full-time in-house SOC, turnover and ongoing education and training water down their ability to provide 24/7 monitoring and detection. On the other side of the coin, an organization would also likely need these professionals to stay abreast of emerging threats, technological advancements and implement data protection strategies to stay ahead of hackers. That seems like an unrealistic expectation.

By contrast, a SOCaaS provider enjoys a complete team of cybersecurity experts whose laser focus is knowing how to protect companies from getting hacked. By bringing their niche expertise together and working toward a common daily goal, SOC as a Service providers offer knowledge, experience and the determined cybersecurity posture organizations require.

Risk Management Benefits

Industry leaders would be well served to have realistic expectations regarding SOCaaS and other cybersecurity approaches. We are in the midst of a worldwide cyber-aggression in which nefarious online individuals and groups orchestrate attacks on honest businesses. Today, we’re integrating SOCaaS defenses because many of the previous cybersecurity measures have become obsolete. Hackers, while seemingly unwilling to put in an honest day’s labor, continue to adopt duplicitous schemes and workarounds to override cybersecurity measures.

That shows that no network or data protection approach is foolproof or will stand the test of time. Working with a SOC as a Service provider will frustrate garden variety and mid-level hackers. Most won’t even attempt to breach a network protected by a SOCaaS program. Advanced persistent threats, who are well-funded and more determined to target specific sectors, will have a tough time. Even if they manage to gain entrance, an alert will be triggered. These are reasons why SOC as a Service reduces corporate risk.

Ongoing Regulatory Compliance

The centralized security management benefits delivered by a SOCaaS solution include facets such as 24/7 monitoring, detection, threat hunting, real-time alerts and prompt response times. These are all regarded as high-level data security protections that meet or exceed many of the federal, state and international standards. For example, working with an accredited SOC as a Service provider could involve a customized solution consistent with the Department of Defense’s Cybersecurity Maturity Model Certification (CMMC), the Health Insurance Portability and Accountability Act (HIPAA), or the EU’s General Data Protection Regulation (GDPR), among others. Working with the right SOC as a Service provider furthers regulatory compliance and simplifies reporting.

SOCaaS Saves Companies Money

Company leaders have an opportunity to onboard SOCaaS protections at scalable rates. The cybersecurity measure can typically be customized to cover the unique needs of an organization. Many SOC as a Service providers offer flexible subscription-based programs that can fit into most monthly budgets. These data protection solutions are widely regarded as cost-effective. The alternative could prove unaffordable.

According to recent studies, small businesses lose an average of several thousand dollars to millions when falling prey to hackers. Companies with up to 5,000 employees typically suffer direct financial losses in the millions. The immediate economic losses are just the beginning, because regulatory fines may follow, along with reputational damage that sometimes cannot be unsullied. It’s not uncommon for vendors and industry partners to file civil lawsuits if impacted. The cost of settlements, insurance premiums and legal fees make cybersecurity improvements a bargain.

What Types of Enterprises are Suitable for SOCaaS?

Utilizing the cybersecurity defenses of a SOCaaS is not restricted to any particular type of organization or business size. These services are normally scalable, allowing decision-makers to choose from a suite of options and fee structures. It’s not whether your enterprise is suitable for these enhanced cybersecurity measures. It’s simply a matter of identifying a firm that offers the SOCaaS that makes sense for your budget and organizational goals.

Red River Offers Scalable SOC as a Service Solutions

At Red River, we provide proactive cybersecurity at a scalable rate. We have the expertise and SOC infrastructure to meet your digital security and regulatory compliance needs. If you’d like to learn more about our SOCaaS solutions, contact us today. Let’s get the process started.