MSPs Receive Numerous Benefits By Using SOC-as-a-Service

Benefits of SOC-as-a-Service

Every successful business today requires a digital presence. If companies don’t have a digital presence, potential customers are unlikely to locate them. All the time spent on the internet and using necessary digital tools exposes companies to a barrage of cyberattacks and system infiltration attempts. However, numerous companies regard cybersecurity as an expense rather than an investment. Companies would rather spend their money elsewhere than protect their most valuable asset: their data. Some companies just don’t have the revenue to afford cybersecurity protection. Previously, company owners were out of luck, but that all changed with the introduction of SOC-as-a-service.

SOC-as-a-service vendors provide companies with comprehensive cybersecurity protection at a reasonable price. Companies can rest easy knowing that qualified cybersecurity specialists are handling every part of their digital infrastructure’s protection for a yearly fee. SOC-as-a-service providers assist MSPs in several areas:

Threat Intelligence

Threat Detection and Response

Investigating Incidents

Industry Compliance Standards Management

Managing Logs

Monitoring Networks

Reporting

Cybersecurity Risk Assessments

Modern-day cyber threats don’t operate on a 9-5 basis. If this were the case, a single individual could manage cybersecurity in addition to all other elements of their MSP business. However, what if threat operators successfully breach clients’ systems at 3 am? This is when SOC-as-a-service becomes an indispensable tool. Companies gain not only from extensive cybersecurity services, but SOCaaS provides these features 24/7/365 giving company owners peace of mind and allowing them to focus on their business mission. The basic features are critical to MSPs’ clients’ overall cybersecurity picture.

Using SOC-as-a-Service provides MSPs with numerous impactful benefits:

Reducing Breach Risk – Because SOCaaS provides companies with around-the-clock security, threat detection and resolution can happen quickly. Additionally, the service can reduce crucial cybersecurity metrics, including dwell time and breakout time, lowering the risk and impact of data breaches.

Scaling Simplified – SOCaaS, like other “as-a-service” solutions, provides MSPs with the flexibility to grow. MSPs can pay for as much or as little protection as required and can grow their contract plan as their team expands.

Lower Cost – In most circumstances, a SOCaaS contract is far less expensive than running an on-premise security operations center (SOC). The cost for MSPs to manage their own SOC can increase due to staffing, hardware, and software licenses. It’s beneficial for MSPs to engage the assistance of a SOCaaS provider where they only pay for what they utilize.

Resource Efficiency Increases – Because of the global IT skills gap, more companies are turning to SOCaaS. Global companies are struggling to find and keep top-tier IT talent. SOC-as-a-Service reduces the reliance of MSPs on internal IT staff. Additionally, it allows current internal staff to focus on higher-priority IT challenges.

Improved Maturity – Companies that use SOC-as-a-Service effectively skip the learning curve. They have immediate access to the most advanced cybersecurity protection protocols and technologies, rather than learning as they go through access to security systems and analysts with a track record of excellent performance.

Faster Threat Response and Remediation – SOCaaS providers improve threat detection and response times by using modern cybersecurity technology and automation. Using a mature, skilled SOCaaS team saves time, energy, and resources wasted on false positive alerts.

One frequently asked question is, “Which is better, SOCaaS or building your own SOC?” Even though there’s no one-size-fits-all solution for cybersecurity, the evidence is compelling. For most companies, SOCaaS is a far better alternative. SOCaaS provides MSPs’ clients with a respectable layer of cybersecurity protection at a very reasonable cost. With SOCaaS, users are invoiced on a consumption basis, which means they only pay for the services they utilize. This is an important advantage of a contract-based delivery strategy. Creating their own SOC, on the other hand, is a big undertaking. MSPs would have to invest in staffing, software licenses, hardware, and more. Having their own internal SOC on-premises makes scaling their MSP business challenging.

More clients mean more personnel to train, more licenses to purchase, more hardware to invest in, and other perks. SOCaaS, by design, enables simple adjustments to SOC services. Scaling up or down is as simple as a few clicks. Additionally, certain companies have strict cybersecurity compliance regulations. Healthcare and finance industries are two excellent examples because hiring SOCaaS providers with experience in the area is easier than dealing with it themselves. Even minor errors in client data management or cybersecurity can result in legal ramifications or severe fines or sanctions for MSPs and their clients and it’s best to leave it to the professionals.

Having the right SOC-as-a-Service provider should be a perfect fit for companies. It’s critical to determine what kind of protection is most important for MPS clients. If MSPs work with numerous clients in highly regulated industries, providers that are well-versed in compliance are the best fit. Additionally, MSP providers should have the best technology and tools available for rapid threat response and system monitoring. It’s vital that providers have remote desktop telemetry to troubleshoot client endpoint computers. SpearTip provides Security Operations Center as part of our suite of MSP tools. Our certified engineers identify and respond to the most sophisticated threats without MSPs investing time, energy, or money in building an internal SOC. Bring on SpearTip as a trusted partner with MSPs’ team and let our engineers manage their security monitoring needs 24/7/365. SpearTip enhances MSPs partners’ offerings with the ShadowSpear platform, our integrable managed detection and response toolset, and protect business and their clients.

If your company is experiencing a breach, call our Security Operations Centers at 833.997.7327 to speak directly with an engineer.