Navigating SOC-as-a-Service Options to Accelerate MSP Growth

Many Managed Service Providers (MSPs) are adding cybersecurity and IT compliance offerings to their portfolio in order to generate incremental revenue, strengthen customer loyalty and improve profit margins. Per Statista, the worldwide market for managed services is forecasted to grow to $215 billion in 2020 with a compound annual growth rate of over 11%. MSPs looking to capitalize on this opportunity and grow their operation need to do so without the hurdles of staffing and retaining a team of security specialists, as well as investing in multiple layers of cyberdefense technologies.

SOC as a service (SOCaaS) is one approach you can use to add managed security services to your client base. While there is no standard definition of SOC as a service, many enable MSPs to provide network monitoring, threat detection, forensic investigation, and security information and event management (SIEM)–all on a software as a service (SaaS) basis. Leveraging a third-party partner with a global SOC and security analysts can offset the startup costs and accelerate your learning curve. The time and money needed to build your own SOC from scratch will be extensive, to say nothing of the challenge in hiring and retaining security professionals for 24/7/365 coverage. The SOC is a complex and often high-pressure environment, according to Forrester Research.

Key Capabilities and SOCaaS Benefits

Modern cybersecurity threats are evolving and morphing at a rapid pace. Small and mid-market businesses that face the same cybersecurity threats as larger enterprises, but often with smaller IT teams, are leading candidates for the SOCaaS approach. A world-class SOC armed with a comprehensive SIEM solution provides the visibility needed to detect advanced threats and quickly recommend effective mitigation steps. It offers the continuous visibility that detects threats early and reduces dwell time inside client organizations.

SOCaaS provides many benefits for MSPs as well as their clients:

 Optimize Existing Staff and Capabilities

Expand Security Efficiencies and ROI

Increase Your Client Base and Revenue

The SOC has become the foundation for security analytics and threat expertise, combining people, processes, and technologies such as behavior analytics, intrusion detection, machine learning, and endpoint detection and response. While building an in-house SOC may be appropriate for some organizations with the resources, SOCaaS is both practical and affordable for the majority of MSPs.

Evaluating SOCaaS Options

SOC-as-a-Service can come in many shapes and sizes, so it is critical to evaluate your options carefully. A few things to look for in your managed security service partner are:

For MSPs offering managed security services, there’s a lot to love about SOCaaS capabilities from Netsurion. We provide a fast time to value to organizations seeking 24/7/365 monitoring by global security experts and reporting that is purpose-built for small and mid-market businesses.

To talk to Netsurion experts about our SOCaaS benefits, email us at [email protected].

Not a Netsurion partner? Learn more about the advantages of managed security at Netsurion today.

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