The Security and Operations Center (SOC) is where the cybersecurity strategy of a business is coordinated and implemented. It is where security issues are dealt with on an organizational and technical level. It will normally comprise a team of skilled cybersecurity experts who develop and implement such security policies and use the necessary technology to monitor and respond to identified network threats. The SOC is composed of the three building blocks of people, processes and technology that go hand in hand to manage and enhance the organization’s security posture. Finally, governance and compliance provide a framework for tying these building blocks together.

The following are the main benefits of SOC solutions that businesses stand to gain:

1.  Timely threat reports

Because the nature of a security operations center is centralized, it enables faster reporting of threats at a single location. The challenge of a decentralized cybersecurity strategy is that there are multiple locations where a threat incident may be reported. This delays the response time because of the delay in getting the information to the responsible party. The time lost in relaying the information and initiating the response will give attackers more time to wreak havoc and cause significant compromise to the network. Which brings us to the next benefit of SOC’s…

2. Quicker and more effective response times

Timely threat reports enable quicker response times to identify threats and vulnerabilities. With enhanced threat monitoring and detection capabilities, SOC teams can respond rapidly to identified threats. In some cases, the team may even take proactive measures before a threat is even identified. The risk of network compromise and damage is significantly reduced thanks to timelier responses.

3.  Improved communication & collaboration

Being in a centralized location allows SOCs to collaborate and coordinate among the members of its cybersecurity team more effectively. They can work and develop solutions together to better monitor and protect a network. Also, they are aware of the tasks and activities of other team members to avoid the duplication of effort.

An SOC team is typically well versed in communication and collaboration with the whole organization as well. The SOC team is in a unique position to educate employees, third-party contractors, clients and other stakeholders about potential threats by conducting security awareness training programs. SOC teams can also share security insights with the C-suite executive and management, business leaders, and department heads. This will enable the latter to calculate potential risks, evaluate them, and if a new policy or control should be adopted to mitigate those risks.

4. Mitigated cost of breaches, operational and capital expenditures

SOCs can prove to be more cost effective than other cybersecurity strategies. With the entire team co-located in one place, businesses will only have to contend with the cost of a single location. This would not be the case if an organization were not centralized, with several specialists scattered across different locations, with multiple facilities or rooms resulting in increased capital and operational expenditure.

SOC teams can reduce the effect of a breach and cut potential costs that breach may incur through data loss, lawsuits, and most especially damage done to the business’s reputation. During an attack, SOC teams have the capability to minimize downtime and disruption to prevent those monetary losses.

Additionally, security experts in a streamlined and centralized team can prevent multiple groups or departments from duplicating efforts by working on the same cybersecurity incidents. Another cost advantage to consider is that outsourcing tasks to managed security service providers or virtual SOCs can offload some or all of the security responsibilities to eliminate the need for a dedicated in-house SOC facility and staff.