10 Reasons to outsource to a SOC

In today’s digitally driven landscape, the threat of cyber-attacks has become a pressing concern for businesses worldwide.

For companies based in London, a city renowned for its economic prowess and global connectivity, safeguarding sensitive data and maintaining robust cyber defences are paramount. One effective strategy that has gained traction is the outsourcing of Cyber Security Operation Centres (SOCs). Additionally, the integration of Managed Detection and Response (MDR) services enhances these benefits further.

Here are the top ten reasons why your UK-based corporate entity should consider this approach:- 

1. Access to Advanced Expertise and Technology

Outsourcing your SOC requirements provides immediate access to a team of highly skilled cybersecurity professionals and cutting-edge technologies. These experts are often certified and experienced in dealing with a variety of cyber threats. An outsourced SOC is equipped with the latest tools and techniques, ensuring your business is protected against evolving cyber threats. This access to advanced expertise can be difficult and costly to maintain in-house, especially given the fast pace of technological change and the skills gap.

“Four million professionals are urgently needed to plug the talent gap in the global cybersecurity industry”^[1] and this is a number that’s only predicted to grow. With cybersecurity attacks getting more frequent and sophisticated, and the security labour shortage predicted to worsen there’s no better time to leverage outsourced expertise to take your security to the next level.

2. Cost Efficiency

Building and maintaining an in-house SOC can be prohibitively expensive. Research from Ponemon Institute states that an average annual cost of running an in-house SOC is $2.84 million.^[2] It involves significant investment in infrastructure, technology, and skilled personnel.

By outsourcing, corporations can convert these high fixed costs into more manageable operational expenses. This approach provides cost savings while still benefitting from top-tier cybersecurity services. Additionally, outsourcing eliminates the need for continuous investment in upgrading technology and training staff to keep pace with new threats. Research by IBM^[3] found that the average cost of a data breach in the UK is £3.4 million, underlining the importance of effective and cost-efficient cybersecurity measures.

3. 24x7x365 Monitoring and Incident Response

Cyber threats do not adhere to a 9-to-5 schedule; they can occur at any time. Outsourced SOCs provide round-the-clock monitoring and incident response, ensuring that your systems are continuously watched, and any threats are swiftly addressed. This 24x7x365 vigilance is crucial in detecting and mitigating potential breaches before they can cause significant harm. A study by IBM Security found that breaches identified in less than 200 days cost 23% less on average than those identified after 200 days.^[4]

4. Scalability and Flexibility

As your business grows, so do your cybersecurity needs. An outsourced SOC can easily scale its services to match your company’s requirements, whether you are expanding into new markets or launching new products. This flexibility ensures that your security measures remain robust and effective, regardless of the size or scope of your operations. According to a report by MarketsandMarkets, the global SOC-as-a-service market is expected to grow from $372 million in 2020 to $1.137 billion by 2025, highlighting the increasing demand for scalable cybersecurity solutions.^[5]

5. Focus on Core Business Activities

Managing an in-house SOC demands considerable time and resources, which can detract from your company’s core business activities. By outsourcing, your internal teams can concentrate on strategic initiatives and other critical business functions. This allows for better allocation of resources and can lead to improved overall business performance. A survey by Deloitte found that 51% of executives believe that outsourcing allows their company to focus on core business strategy.^[6]

6. Proactive Threat Intelligence and Risk Management

Outsourced SOCs have access to global threat intelligence networks and can provide proactive risk management. They monitor not just your systems but also the broader cyber landscape to identify emerging threats. This proactive approach helps in anticipating and mitigating risks before they can impact your business, enhancing your overall security posture. 95% of breaches are financially motivated^[7] and 25% are motivated by espionage, emphasizing the need for proactive threat management.^[8]

7. Regulatory Compliance and Reporting

Navigating the complex landscape of cybersecurity regulations can be challenging. An outsourced SOC can help ensure that your company complies with all relevant laws and regulations, such as GDPR and the UK Data Protection Act. They can also assist in maintaining proper documentation and reporting, which is crucial for regulatory audits and demonstrating compliance to stakeholders. Regulation is on the increase with new legislation such as DORA and NIS2 coming into force soon. According to a report by Drata, 74% of organizations state that compliance is a huge burden.^[9]

8. Incident Management and Response Planning

In the event of a cyber incident, having a well-prepared response plan is critical. Outsourced SOCs specialise in incident management and can provide structured response strategies tailored to your business. They conduct regular drills and simulations to ensure that your team is prepared to act swiftly and effectively in the face of an actual cyber threat. A report by IBM found that companies with incident response teams and plans reduced the cost of a breach by £1.2 million on average.^[10]

9. Access to the Latest Security Trends and Best Practices

The cybersecurity landscape is continuously evolving, with new threats and best practices emerging regularly. Outsourced SOCs are at the forefront of these changes, and they bring this knowledge directly to your business. This ensures that your security measures are always up-to-date and aligned with the latest industry standards.

10. Enhanced Threat Detection and Response Times with MDR

Outsourced SOCs, particularly those incorporating Managed Detection and Response (MDR) services, employ advanced analytics and machine learning to enhance threat detection and response times. MDR services provide a comprehensive approach to threat management, combining technology with human expertise to rapidly detect and respond to threats. These technologies enable the SOC to identify anomalies and potential threats much faster than traditional methods. Quicker detection and response times are crucial in minimizing the damage caused by cyber incidents. According to IBM, organisations that use AI and automation experienced a £1.6 million lower average cost of a data breach.^[11]

Sophos, a leader in cybersecurity, offers robust MDR services that integrate seamlessly with outsourced SOCs. Sophos MDR provides 24/7 threat hunting, detection, and response delivered by an expert team as a fully managed service. This ensures that sophisticated threats are identified and mitigated swiftly, enhancing your overall cyber security posture.

Conclusion

In an era where cyber threats are increasingly sophisticated and pervasive, maintaining robust cybersecurity measures is essential for any internet enabled organisation. For UK-based companies, outsourcing a Cyber Security Operation Centre offers a myriad of benefits, from cost savings and access to expertise, to enhanced threat detection and regulatory compliance.

By partnering with an outsourced SOC and incorporating MDR services like those offered by Sophos, your company can focus on its core business activities, confident in the knowledge that its digital assets are protected by a team of dedicated cybersecurity professionals. This strategic approach not only strengthens your security posture but also supports your business’s growth and resilience in an ever-evolving digital landscape.

Outsourcing your SOC is not just a reactive measure; it’s a proactive strategy that positions your company to stay ahead of cyber threats, ensuring long-term security and success in the digital age.

To find out how about Toro's Secure360 please click here alternatively please contact cyber@torosolutions.co.uk. 

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