What Should I Look for in a SoC as a Service Provider?

Choosing the right cybersecurity provider for your business isn’t just about finding the best deal. Though of course, it’s hard to refuse if we do find a good offer. But in actuality, it’s more important to find a partner who can protect your most valuable assets.

Online and digital threats grow more sophisticated every day, and you need a partner that can keep up. Picking the wrong SoC as a Service (SOCaaS) provider means leaving your business vulnerable to breaches, financial loss, and reputational damage. So, how do you navigate the complexities of choosing the right fit?

A 2024 report from IBM revealed that the average cost of a data breach is now $4.88 million. That’s a 10% increase compared to last year and the highest recorded total ever. That’s not a number any company can afford to ignore. Whether you’re a startup or a large corporation, safeguarding your data with a robust managed security operations center (SoC) is essential.

But with so many options on the market, you might feel overwhelmed. This guide will help you make an informed decision, so you can confidently choose the SoC partner that’s right for your organization.

Tailoring Cybersecurity to Your Unique Business Needs

Every business has different security needs, so your SoC as a Service provider must understand the nuances of your industry. A one-size-fits-all approach to cybersecurity often falls short. A retail company will have different security concerns than a healthcare organization.

Your partner should not only have expertise in your specific industry but should also tailor their solutions to address your unique vulnerabilities.

Ask yourself, what are your business’s most significant risks? Do you handle sensitive financial data, or is intellectual property your biggest concern? A competent SOCaaS provider will conduct a thorough risk assessment of your business and help you prioritize what needs protection.

Tailoring their services to your needs also means they offer customizable security plans. You don’t want to pay for services that don’t apply to your business. But you also don’t want to miss out on key protections because they aren’t part of the basic package.

For instance, healthcare organizations handling protected health information (PHI) need a provider that understands HIPAA compliance. Meanwhile, financial institutions must navigate regulations like PCI-DSS, the Dodd-Frank Act, and the Sarbanes-Oxley Act (SOX). 

Partner with a SoC provider that tailors its services to your needs. This way, you boost your protection and maximize ROI by concentrating on the security measures that truly matter to your business.

How to Measure a SoC Provider’s Expertise and Track Record

Evaluating a SoC as a Service provider’s expertise is essential to check if they can protect your business from evolving threats. But how do you measure their capabilities?

Industry Certifications and Credentials

Certifications like ISO 27001, SOC 2, and NIST compliance are proof that the provider follows strict security standards. These certifications tell you that they take data security seriously. Without them, you’re essentially guessing at their credibility. Always ask for proof and verify.

Proven Experience in Your Industry

Every industry has unique challenges, especially when it comes to security. A potential partner experienced in your sector knows the specific threats and regulations that apply to your business. Their knowledge can make all the difference in staying secure and compliant. So, look for companies that have navigated similar waters.

Client Case Studies and Testimonials

Words are nice, but results are better. Check out case studies and client testimonials to see how the provider has handled real-world security issues. Look for stories that mirror your own business challenges. If they’ve solved problems for others, they can likely do the same for you.

Threat Detection and Response Capabilities

Speed is everything when it comes to cybersecurity. The quicker a firm can detect and respond to a threat, the less damage is done. Ask about their average response time and how they handle emerging threats. Their ability to act fast could save your business from costly downtime.

Technology Stack and Tools

A strong SOCaaS provider uses cutting-edge tools like security information and event management (SIEM) systems and AI for threat detection. These tools help catch issues before they become full-blown problems. Without advanced technology, your partner might miss something crucial. Make sure they’re using the best tools for the job.

Long-Term Client Relationships

If a provider has long-standing relationships with their clients, that’s a good sign. It shows they’re trustworthy, reliable, and good at what they do. A client who sticks around is most likely confident in the protection they’re getting. Don’t just ask how many clients they have, ask how long those clients have stayed.

Why Monitoring and Response Times Matter More Than You Think

As we’ve mentioned, speed is everything when it comes to cybersecurity. A delayed response to a threat can be the difference between stopping a breach in its tracks or suffering significant data loss. That’s why the monitoring and response capabilities of your SoC provider should be a top priority.

24/7 monitoring is definitely essential. Cybercriminals don’t work a 9-to-5 schedule, and neither should your SoC as a service team. We know that plenty of companies suffer from cyber fatigue, which is the growing indifference toward proactive cyber defense. Research from Cisco even revealed that as much as 42% of organizations feel this.

With that, you must make sure that the agency you choose offers real-time monitoring and fast response times. Ideally, they should have automated systems that can flag anomalies immediately and experienced analysts ready to act the moment a threat is detected.

A good firm will also have a clear incident response plan in place. This means they know exactly how to handle different types of attacks and can mitigate damage quickly. You should ask about their mean time to detection (MTTD) and mean time to resolution (MTTR) — two critical metrics that show how fast they can detect and respond to incidents.

Compatibility with Your Existing IT Infrastructure

Switching to an outsourced SoC doesn’t mean you’re overhauling your entire IT infrastructure. But if you work with a good SOCaaS outsourcer, they would integrate seamlessly with your existing systems. This keeps things running smoothly during the transition, so your business stays on track without any issues.

Make sure the provider also supports the platforms and technologies you already use. Whether you rely on cloud-based systems, on-premises solutions, or a hybrid approach, your SOCaaS partner should be flexible enough to handle it all. They should also be able to keep up as your business grows or if you decide to adopt new technologies in the future.

Compatibility isn’t just about the tech stack, though. It’s also about communication. The agency should integrate with your internal teams, providing regular updates and keeping you informed about potential threats. When the right company works well with your existing infrastructure, the transition feels less like a handoff and more like a true partnership.

Staying Compliant: Regulatory Support and Risk Management

Regulatory compliance is a significant concern for many industries. Healthcare, finance, retail, and others all face strict regulations when it comes to protecting customer data. A good cybersecurity firm understands these regulations and can help you maintain compliance.

Whether it’s GDPR, HIPAA, or PCI-DSS, your SoC provider should be able to support you in meeting these requirements. They should offer regular audits, reports, and updates to help you stay compliant at all times. Not only does this help you avoid hefty fines, but it also protects your reputation and builds trust with your customers.

Additionally, they should have a robust risk management strategy. This involves identifying potential risks, assessing their likelihood and impact, and putting measures in place to mitigate them. Companies with strong risk management capabilities don’t just respond to threats, they proactively prevent them.

Customer Support and Service Transparency

Good customer support is non-negotiable when it comes to offshoring your managed security operations center. Cybersecurity isn’t something you want to outsource and forget about. You need a partner that keeps you in the loop, offers clear communication, and provides support whenever you need it.

Look for organizations that offer 24/7 customer support. This means having a direct line to a representative or security analyst whenever an issue arises.

Additionally, they should be transparent about their processes and results. You don’t want to be in the dark about how your cybersecurity is being handled. A trustworthy SoC provider will offer regular reports, real-time updates, and clear communication around incident response.

Transparency also applies to pricing. You should know exactly what you’re investing in and what services your plan comes with. Hidden fees or vague pricing structures can lead to budget surprises, so choose a firm that’s upfront about their costs and what you can expect from their service.

Future-Proofing Your Cybersecurity with the Right SOCaaS Partner

The cyber threat landscape evolves quickly, and the last thing you want is to work with a company that can’t keep up. Your SoC as a Service partner should be forward-thinking, constantly innovating, and staying ahead of emerging threats. Ask potential agencies how they plan to future-proof your cybersecurity.

By future-proofing your cybersecurity, you’re making an investment in long-term success. The right partner will give you the peace of mind that comes with knowing your business is protected against the threats of tomorrow, not just the risks of today.

So, where do you start? If you’re looking for a provider that ticks all the boxes — tailored solutions, expertise, fast response times, and exceptional customer support — consider STAFFVIRTUAL.

With years of experience providing managed help desk services, we deliver the reliability and expertise your business needs to stay secure. Schedule a call with us and let us help you protect your business from evolving cyber threats.

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Sources:

Cost of a Data Breach Report 2024 | IBM

Sarbanes-Oxley Act vs. Dodd-Frank Act | Investopedia

Demystifying Cybersecurity Standards – NIST, SOC 2, ISO 27001 and PCI DSS | LinkedIn

Cisco Cybersecurity Report Series 2020 | Cisco