Security Operations Center (SOC)

The Importance of a Security Operations Center (SOC)

With a rising number of cyber threats and cyberattacks in the world, businesses of all sizes are facing numerous issues. They are eager to find security services that fit their landscape and their budgets, while also providing proper security services.

Almost all of today’s businesses and organizations are online or aspire to be online to expand their reach and their growth, and this makes security and protection even more important. The majority of today’s businesses and organizations are equipped with at least some cybersecurity equipment and resources like antivirus protection, a firewall, email filtering, etc.

While these are the proper basics to implement in a workplace to secure your employees and your data but are these enough to keep your businesses and your data safe? Yes….and no. The defensive equipment you use will be enough to keep some things out, but only because you have configured to keep those things out. However, what about the things you aware unaware of?

Recent ransomware attacks on the Colonial Pipeline and JBS USA Holdings Inc. caught the world in their evil grip. Vulnerabilities are being released every year, and any of these things can be a threat to your online environment. Hackers are targeting businesses and organizations from all industries and creating disruption and panic in them as they lack proper Security Operations Center services.

A common problem that some businesses face is a lack of personnel to assemble and function a SOC (Security Operations Center). As a result, the Security Information and Event Management (SIEM) process will not be within reach. Over time, many organizations will decide to outsource SOC as a Service which can address their organizational needs and improve the security landscape.

What Is A Security Operations Center?

A security operations center is a centralized hub for monitoring a business’s network. A Security Operations Center (SOC) can be a facility or a team of experts that work to prevent, detect, assess, and respond to threats and incidents. There are key things that a Security Operations Center can do if it is effective, including the following:

• Adjust defenses before the threat reaches you
• Take a proactive approach to threat detection
• Manage all vulnerabilities

What Happens If My Business Does Not Have An SOC?

Along with the constant spikes in COVID-19 cases, there was a spike in cyberattacks. Many businesses and organizations were not prepared for managing the new ways of working. Many cybersecurity experts believed the shift to remote work during the COVID-19 pandemic led to the increase in cyberattacks. The pandemic presented cybercriminals with many opportunities to create attacks on unsuspecting and unprepared businesses and organizations. The increase in cyber threats and cyberattacks completely changed the priorities of many businesses around the globe.

More businesses and organizations are beginning to understand the importance of a Security Operations Center, and they are understanding the consequences that may arise if there is no SOC.

Longer and Constant Downtime

As we have experienced with the recent cyberattacks, it can take weeks for a business to restore its networks after a ransomware attack has occurred. No business wants to wait two weeks or more to get back to business. If a security event can be handled quickly and efficiently, this will be better for all involved. This is why many businesses suffer a great deal after a ransomware attack. If your business does not have a Security Operations Center and it becomes a victim of a ransomware attack, it can experience a significant period of downtime. If you are operating all or some of your business operations in the cloud, you need a Security Operations Center. One cyber-attack in the cloud can shut down your business’s entire operations for a prolonged period of time.

Damaged Reputation

If your business operations are attacked by cybercriminals, this can lead to the loss of your most loyal customers and clients. Your customers and clients may feel they can no longer trust your business because their confidential information was uncovered in a data breach. No customer wants to have his or her information stolen, and they trust that businesses and organizations will do their part in protecting their information. With a Security Operations Center, your business’s security practices will be monitored in real-time, resulting in better protection and prevention of data breaches. Your response to a data breach will influence your reputation and credibility.

Loss of Revenue

When a ransomware attack occurs and there are no effective security solutions in place to defend your business against the advanced and sophisticated attack, this can result in a loss of significant revenue. The number of zero-day attacks, DDoS attacks, and ransomware attacks continues to increase, and the numbers will continue to rise as more businesses lack the proper security strategies. A Security Operations Center (SOC) accumulates security events from multiple sources through SIEM to find any patterns that can signal threats are now and put an end to them before it is too late.

Choosing A Security Operations Center Provider In Chicago

The approach to your SOC should start with the identification of your needs and requirements, monitoring, and utilization of the proper tools and resources. SOC providers understand the challenges that generally come with keeping your operations and network secure at all times. You need a provider that can analyze your operations and take quick action. When searching for the SOC provider that can fit your needs, you should look for the following:

• A provider that can match the complexity level of your operations
• A provider that can provide real-threat analysis
• A provider that offers defined pricing
• A provider that offers strategic advising and follows all compliance standards and regulations

The recent Executive Order on Improving Cybersecurity noted various best practices for critical infrastructure operators to utilize, and establishing a unified Security Operations Center is one of those best practices. Operating a security operations center will provide visibility into the network and operations environments. By implementing a security operations center, your business is signifying that you support the U.S. National Security Mission to provide seamlessly integrated solutions.

At CTI Technology, we provide IT services and IT support that our clients can leverage; our services can be utilized collectively or individually based on your needs. Contact us to learn more about our service offerings.