The rate of cybercrime is increasing daily. Research shows a 31% increase in security attacks from 2020 to 2021. Organizations must ensure that all hands are on deck to secure cyber systems. In 2022, hackers and cybersecurity breaches are more sophisticated and malicious, making intercepting attacks more difficult. According to a report from the World Economic Forum (WEF) in 2022, regular cybersecurity measures are becoming ineffective due to sophisticated methods of cyber criminals. More than ever, companies and SMBs need a Security Operations Center (SOCs) in place.
What Is a Security Operations Center (SOC)?
The Security Operations Center of a company consists of a team whose duty is to protect the cyber systems of the company. They detect, track, analyze and investigate all cyber threats to the company. The SOC is a centralized system including the IT professionals, the processes, and the technology engaged in securing an organization’s data.
SOCs are always functional, ensuring a rapid response to any type of emergency. In addition, the SOC team collaborates with other departments within the organization to provide a free flow of data from all points. Interdepartmental communication is essential when assessing or responding to any threats.
Functions of the SOCs
The primary role of the SOC team members is to monitor an organization’s cybersecurity to ensure it is threat-free. To ensure this, the operations center performs several responsibilities, including;
Data Collection and Analysis
To enable the SOC to identify suspicious activities, they need access to all the organization’s data. This data is then carefully analyzed, looking for anything suspicious. If they see anything, they will do a deeper investigation to determine the nature of the threat and what damage it has or can cause.
Root Cause Investigation
Sometimes, SOCs are hired after a cybersecurity breach has already occurred. In this case, the SOC has to investigate the cause of the breach, trace the problem to its root, and if it is broken, fix it. Finally, the SOC team takes steps to ensure that it never repeats.
Maintenance of Activity Log
The SOC team must log in all communications taking place in the organization. This gives them the resources to track down the source of any criminal threats or activity.
The company’s technological systems are placed under 24/7 surveillance by the SOC team. This way, any suspicious activity is immediately detected and can be handled. With all of your company’s sensitive and invaluable data on the line, time is of the utmost importance.
Benefits of a Security Operations Center in an Organization
- Increased transparency and control over security operations.
- It creates an effective means of communication in an organization.
- Protects all data in the company.
- Centralization of both hardware and software assets.
- Reduced downtime.
SOCs in Small Businesses
Small businesses are not exempt from the need for cybersecurity. Even if your business only has email and a website, it deserves and needs security. In fact, 43% of all data breaches happen to small businesses.
One of the safest ways to protect sensitive data is by using SOCs. Research shows that about 80% of small businesses have experienced downtime. A single downtime event can cost your small business between $80,000 and $250,000. With a functional SOC, downtime can be prevented or reduced significantly, saving on significant business costs.
Protect Your SMB
You can’t operate thinking a cybercrime will never happen to you or your business. Not only will having a SOC help protect your company’s assets, but it will also strengthen your credibility. Customers will be more willing to trust you with their private data. They are aware of the threats out there and trust that you are doing everything in your power to protect their information.