Cybersecurity, once considered an afterthought, plays an important role in the ultimate success or failure of most organizations. This is especially the case for businesses that have a strong digital presence and conducts some, if not the majority, of their transactions online. With cybercriminals constantly looking for new and innovative ways to compromise business networks, it is essential to have an updated cybersecurity strategy to ensure that your network remains protected. Failing to have an effective cybersecurity strategy in place can be costly for impacted businesses; in 2018, the global average cost of a data breach was $3.86 million which was a 4.8 percent increase from the previous year.
One of the ways to ensure the security of your network is to engage the services of a Security Operations Center (SOC) via a Managed Security Services Provider (MSSP); this is a third-party service provider that specializes in providing cybersecurity services to businesses. The SOC-as-a-Service managed provider typically has teams of cybersecurity specialists with varied skill sets working together to monitor, identify, and neutralize any threats to a network. There are many benefits of using an MSSP to meet the cybersecurity needs of your business; discussed below are five of these benefits.
1) Cost minimization
Setting up an effective cybersecurity strategy for your business can be very costly and can become a major financial burden if unchecked. Hiring the cybersecurity specialists with the right set of skills, purchasing the required software and applications, and constantly updating the network are some of the factors associated with the high costs of cybersecurity.
With SOC-as-a-Service, the costs associated with securing your business network are markedly reduced. The MSSP assumes the responsibility for hiring the necessary cybersecurity specialists as well as acquiring the relevant security applications and program. All that is required of you is to make regular payments to the provider for your use of the services offered.
2) Efficiency maximization
Unless your business lies in the technology sector, cybersecurity is likely not one of your core business functions. In addition to being cost-intensive, effective cybersecurity is also a time as well as a resource-intensive process. The time and effort spent in securing your network can detract you from focusing your attention on your core business processes and functions, thereby making your business less efficient.
SOC-as-a-Service makes your business more efficient by assuming the responsibility of securing your network. As such, you are better able to maximize the use of your time and resources by focusing on your core business products and services.
3) Security log documentation and management
Data collection and analysis is at the heart of any effective cybersecurity strategy. Security logs and other security-related documentation have to be collected regularly for threat identification and monitoring. MSSPs typically have the knowledge as well as the skills needed to generate, maintain, and analyze the relevant security logs and documentation.
4) Vulnerability management automation
Frequent regular vulnerability scans of your network environment are essential to rapidly identify and mitigate any potential weaknesses that can be exploited by cybercriminals. If done manually, vulnerability scanning is a very time-consuming and tedious process. With SOC-as-a-Service, vulnerability scanning can be automated to occur at regular intervals. If any network vulnerabilities are detected, an alert is triggered notifying the network administrator so that prompt remedial actions can be taken.
5) Close monitoring of advanced threats
Effective cybersecurity requires that the network is continuously monitored around the clock for any threats. Continuous threat monitoring is essential so that network threats can be rapidly identified and neutralized before the network is compromised. With Security-as-a-Service, the MSSP ensures that the network is constantly under surveillance for any threats and is ready to take whatever actions that may be necessary to mitigate any detected threat to the network.
At NewCloud Networks, we know how to protect your network, keeping it safe from cybercriminals. With our SOC-as-a-Service offering, you can count on us to keep your network secured so that you can function on your core business processes. Contact us today for more information.