With the average data breach costing U.S. businesses $8.64 million and cyber security incidents rising to over 29,000 worldwide, the need to fortify your organization against cyber threats is more important now than ever.
One effective way businesses combat cyber-attacks is by implementing a security operations center (SOC).
Essentially an all-in-one managed security solution, SOC monitoring provides comprehensive, real-time cybersecurity solutions via threat detection and response measures.
But what are the typical costs associated with hiring a SOC-as-a-Service?
To find out more information regarding SOC pricing, our article covers costs regarding SOC-managed security, common SOC-as-a-Service levels, as well as the value in paying more for the right security experts.
Factors to Consider With SOC-as-a-Service Pricing
In addition to your organization’s budget, there are a few factors that influence SOC pricing.
When considering your SOC approach, make sure to factor in:
- Time: Structuring an internal SOC can take months if not years to fine-tune. This becomes especially obvious when you think about the hardware, software, and personnel requirements. Depending on where you are in your SOC journey, you may have to spend extra time remediating IT gaps.
- People: Finding retainable IT talent is challenging because it’s a field with a high turnover rate. From sourcing and interviewing to hiring and onboarding, it can take months to find strong IT talent.
- Scalability: Threat hunting is a SOC function that’s continually growing both in volume and sophistication. Given the increasing complexity of the global IT environment, SOCs and software platforms providing threat detection and response solutions now incorporate full cloud functionality—scaling can occur rapidly and on the fly.
- Infrastructure: To proactively monitor your threat landscape, a SOC needs a security team with significant hardware infrastructure investments. Over time, as software iterations and new tools become available and implemented, staff working hours must be spent learning the new tools rather than focusing on remediating active threats.
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The Different Levels of SOC-as-a-Service
Entry-level SOC-as-a-service pricing is the most affordable and often includes a combination of information security monitoring services for areas such as access control, encryption, performance monitoring, processing integrity, and firewall protection.
Overall, entry-level SOC provides minimum coverage and likely won’t have 24/7 security but it’s still a better alternative than not having a security operations center at all.
The standard SOC level provides a thorough SOC strategy for threat detection, prevention and investigation. Generally, this level offers IT automation to help augment team capabilities in addition to an appropriately-sized security team.
Best-in-class SOC-as-a-service features dedicated full-time security experts that proactively identify and prevent network threats around-the-clock. This level of protection is ideal for organizations looking to eliminate threats before they impact business operations.
SOC-as a Service Pricing Costs
The building and operating costs of a SOC depend on an organization’s security needs and their preferred SOC level. Staffing costs personnel like security analysts, security engineers, and SOC managers are included in addition to aggregated low and high-cost SOC estimates.
|DIY SOC Costs|
|Cost Component||3-Year Cost Average||Description|
|SOC Staffing||$2,310,000 – $4,620,000||Mitigate an intruder’s ability to conduct reconnaissance, extract credentials and create backdoors while obfuscating their activities.|
|SIEM||$70,000 to $440,000||SIEM options for businesses include on-prem SIEM hardware, virtual SIEM appliances, and SIEM-as-a-Service offerings. Additionally, SIEM is a difficult technology to master, requiring patience.|
|External Threat Intelligence||$25,000 to $55,000||External threat intelligence is essential for clarifying potential attacks, profiling recent victims, determining severity, and breaking down evolving cyber threats and methods.|
|Vulnerability Scanning||$5,000 to $30,000||Vulnerability scanning, like SIEM, possesses many available options where the price fluctuates greatly in accordance with the number of endpoints protected.|
Outsourced SOC as a Service Cost
While exact pricing figures will vary from provider to provider averaging between $75 to $150, services offered by CP Cyber’s outsourced cybersecurity experts stays as simple as $25 to $75 per device per month. Additional considerations such as your business’ functions, data storage needs and organization’s size must also be considered.
Two common ways that SOC-as a service pricing is calculated is by:
- Priced on User Number: The number of users connected and using your organization’s digital assets is a standard pricing model. For businesses with mostly consistent user numbers, it is suitable. Although it can become challenging to monitor user activity across numerous devices as your workforce grows.
- Priced on Number of Devices: Pricing per number of devices provides businesses with increased flexibility and improved control over monitored devices. Overall, it’s easier to track user activity on cloud servers while it’s proven more difficult for identifying vulnerabilities in your IT infrastructure.
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Overhaul Information Security With SOC Security Tools
Since SOC as a service pricing varies with your organization’s demands, complexity, business functions, compliance, budget, and current IT condition, it can be overwhelming knowing where to start.
At CP Cyber, we have more than 45 years of combined experience in penetration testing, IT controls, and information security assessments to take control of your organization’s IT security today.
Our threat management process involves SIEM 24/7 security monitoring while our flexible engagement model allows your business to keep the operating freedom it desires as you fortify your security.
To find out more information about our SOC pricing, connect with one of our SOC experts today.