Security operations centres (SOC) are no longer an option, but a must for businesses to protect and secure their data. A SOC is your first line of protection against a cybercriminal searching for a quick buck or a foreign government aiming to wreak havoc.
It doesn’t follow, however, that simply because it is a necessity for your organisation, you have an unlimited budget for it.
The size of your attack surface and the level of security you require will determine how much you should spend on a SOC. When it comes to the needs of a small business with just a few hundred people in one location, there are obvious differences.
For a SOC to be cost-effective, you must first understand the elements that influence costs and the level of SOC you wish to accomplish. to be built and implemented.
SOC Levels in Various Forms
- SOC for the beginner
There are some elements of a regular SOC level included in this SOC level, but not all of them. The services and people in place at this level are likely to be a mash-up of disparate services and people who were brought in to handle specific problems, but who have not yet been consolidated under a comprehensive SOC strategy and procedure. Although detection skills are frequently there, threat hunting, prevention, investigation, and remediation capabilities are not always present or available. Furthermore, you are unlikely to get coverage 24 hours a day, seven days a week. However, while this is an improvement over nothing, you may find yourself feeling as though you are always sliding further behind.
- A top-notch SOC
This SOC level has specialised professionals who are available 24 hours a day, seven days a week to detect and prevent threats across the network. Aside from that, analysts are entrusted with aggressively seeking out dangers and closing security gaps before they become problems. Automated incident response helps you respond to issues as quickly and effectively as possible across your entire organisation with the use of advanced automation. At this point, you have the impression that you are ahead of the game.
- The standard SOC
This level of SOC comprises a comprehensive SOC strategy for detection, prevention, and investigation, among other things. As a result, this level contains a properly sized security team as well as automation to assist in augmenting the team’s skills. At this level, you get the impression that your head is above water, but you never have the feeling of being assured.
To Build a Security Operations Centre, Here’s What You’ll Need to Consider
When creating your SOC strategy, there are a lot of logistical considerations to keep in mind:
As demand for cybersecurity expertise grows, it is becoming increasingly difficult to locate qualified individuals. It can take months to locate, interview, hire, and enrol internal security teams before you begin to have effective protection. As a result, there is a lot of turnovers in the business because workers are constantly looking for new opportunities and better pay. It’s not only expensive to find and educate new personnel, but it’s also common for your employees to quit with their institutional knowledge, leaving you vulnerable.
As long as you don’t have a SOC in place, you’re putting yourself at risk. It might take months or even years to hire staff, purchase security gear and software, and then implement it throughout the organisation to set up an internal security operations centre (SOC). In some cases, it may be necessary to spend more money than you normally would in order to fill in the gaps in your SOC.
For a SOC to be effective, it must have the necessary security professionals and the right security technology in place. If your company wants to maintain its security posture, it will need to make significant software and hardware purchases. The time it takes for your personnel to adopt and understand a new tool is time they should be spending on current risks.
The True Cost of SOC
The cost of building a SOC can vary greatly depending on your current level of maturity and the end state you want to achieve. You could easily spend more than $1 million a year on an entire 24×7 security team if the average security analyst costs $90,000 per year. You’re looking at anywhere from $2 million to $7 million a year for the software, hardware, and training they need to do their job effectively.
Cost Break Down
|SIEM Solution Server Hardware Laptops Forensic Software Secure Cabins Forsenic Image Storage Log Storage and Backup Office, furniture setup Professional Consulting||$90k – $110k $50 – $70k $1k – $2k $30k – $50k $4k – $6k $9k – $11k $90k – $110k $15k – $20k $15k – $25k $40k – $60k|
Annual Payroll Costs
|Tier 1 Analysis Tier 2 Analysis Tier 3 Analysis / Threat Hunters Forensic Specialist Malware Engineer SOC Manager||12% 14% 17% 19% 17% 21%|
Annual Recurring Costs
|Staff Training and Skill Updates IR Exercise Threat Intelligence Feed Vulnerability Scanning (Network) Vulnerability Scanning (Application)||20% 20% 10% 10% 12%|
Total Cost of SOC = $750, 000
It’s not necessary to sacrifice data security in favour of a healthy bottom line; instead, cut costs wherever you can. If you don’t know the true cost of a security operation centre, you could end up making costly financial mistakes. You can keep your operations both safe and financially sound if you plan ahead and use your resources wisely. Information security is our passion, and we’ll show you the way.
Let’s Start Show Some Interest
Do you know how much money you can save on security? In order to get a sense of how much it would cost to implement a similar SOC function in your own organisation, use our Total Cost of Ownership Calculator. __ Contact Us