Becoming a Managed Security Service Provider (MSSP) offers significant revenue and higher profit margins, but getting started can be confusing and the path can be filled with increased cost and risk as you expand services. As the threat landscape intensifies, learn how to capitalize on the shift from Managed Service Provider (MSP) to MSSP. Offering SOC-as-a-Service (SOCaaS) backed by a trusted partner expands your portfolio overnight while avoiding the pitfalls. A turnkey SOCaaS solution accelerates your time-to-market, improves security, and increases productivity.
The Security Operations Center (SOC) is the hub and command center of cybersecurity operations. SOCaaS is described this way:
"By delivering the SOC “function” as a service, it includes the people, processes, and the SIEM platform necessary to perform the network and endpoint threat monitoring, detection, and recommended response for your customers."
Demand for SOCaaS is increasing as cybersecurity threats have skyrocketed, and the pool of IT and security experts cannot keep pace with the global challenge. Building a SOC from scratch with 24/7/365 staffing, equipment, processes, and cybersecurity tools can easily cost $1 million and take eight to 12 months. Attackers never sleep; a SOC helps you continuously monitor systems without the sizable expense and time to do it yourself.
SOCaaS: Tips for MSPs and aspiring MSSPs
Here are five best practices learned from our partners who evolved from MSP to MSSP:
1. Take a strategic approach: It takes more than purchasing a cybersecurity tool to become an MSSP. Be realistic regarding your capabilities and commitment, as well as the effort involved.
2. Build upon your successful track record: Security is complementary to MSP offerings such as network monitoring, device procurement and defense like anti-virus, and configuration management. While you don’t have to possess deep expertise in every security domain, your organization needs to understand foundational security terminology and customer challenges. Master one area of cybersecurity such as log monitoring and management, and then branch out to a second domain such as vulnerability assessment.
3. Become a role model for cybersecurity maturity: MSPs are targeted by hackers due to their multi-tenant approach and broad supply chain partnerships. No organization or vertical industry is immune or out of reach. You must protect your own infrastructure as well as that of your customers. Shore up any gaps in your infrastructure or processes that could put you or your customer’s business-critical data at risk. As you bring new value to your customer base, you’ll be ready to answer prospective customer questions such as “how have you handled this cyber challenge yourself.”
4. Balance people, processes, and technology: A good SOC requires all three, working in concert, to achieve the goal of cybersecurity defense. There’s no single tool or silver bullet that enables you to become an MSSP. Experts recommend around 10 cybersecurity analysts to operate a SOC across three work shifts. Processes such as customer-specific incident response playbooks outline customer alert procedures and contacts. Also, more technology and tools can add to IT sprawl and complexity, along with siloed visibility that can create more security gaps. If you lack the internal staff or want to augment your expertise, team up with an MSSP with a proven track record.
5. Leverage external expertise: Assess realistically where you stand and what actions can best accelerate your progress. The best solution may be a hybrid approach where you manage some aspects while leveraging a managed security service provider for others. SOCaaS immediately provides enhanced cybersecurity expertise. It enables your staff to focus on other organizational initiatives instead of developing and staffing a 24/7 SOC, without ceding control.
Moving to SOC-as-a-Service
Weigh the current threat landscape and how a cloud-based SOCaaS includes threat prediction, prevention, detection, and remediation (PPDR). Capitalize on this growing managed cybersecurity opportunity with a strategic and focused approach that delivers a rapid time-to-value. An outsourced SOC/SIEM purpose built for small-to-medium-sized businesses (SMBs) reduces your capital investment and the time it takes to be ready for new customers. You don’t have to go it alone. EventTracker is Netsurion’s SOCaaS solution with its scalable multi-tenant architecture and proven outcomes that provide powerful, affordable threat protection and compliance to your customers. Learn more about SOCaaS from Netsurion.