Cybercrime is on the rise worldwide, costing businesses an average of $1.4 million to remediate an attack in 2022 alone. However, it’s not just financial repercussions that organizations have to worry about. A cyberattack also often leads to a time-consuming recovery period, wherein a company must rebuild trust with their clients and partners alike. At worst, it could even lead to business suspension or closure. However, there is an answer with a security operations center (SOC) and managed detection and response (MDR).
Utilizing these two services can ensure your organization remains proactive against cyberthreats. Moreover, they can free up time for your employees to focus on accelerating growth for your company. But which one is right for your business? In this blog, we’ll break down these security services and how you can get started.
What Is A SOC and MDR?
A security operations center, or SOC as it’s commonly referred to, is a 24/7/365 manned service that continuously monitors a company’s security defenses. More specifically, these cybersecurity experts oversee endpoints, databases, network applications and websites to detect potential cyberattacks before they happen. These can include attacks like malware, data breaches or even insider threats.
Managed detection and response, on the other hand, is a more comprehensive security solution than SOC. Here, an organization outsources security practices to a third party, often led by managed security providers (MSPs). MDR focuses directly on responding to threats that occur in the system, where certified analysts take immediate action against malicious activity.
Both of these security services also ensure you’re protected by a staff with the right skill set. Too often, in response to the current skilled worker shortage, organizations will offload security tasks onto their current employees, who may not have the proper cybersecurity education to mitigate cyberattacks. Being proactive with the right partners from the start will lessen the possibility of an attack and helps ensure the right steps are taken at the right time.
What’s the Difference?
While a SOC and MDR may share some similarities, there are some key differences to consider.
Technology and tools: A SOC service makes use of a wide range of security tools for company protection, including firewalls, security information event management systems (SIEM) or endpoint protection. MDR leverages more advanced security tools, like advanced threat intelligence, machine learning algorithms and behavioral analytics.
Scalability: Another big difference is the scalability of the two services. The flexibility of SOC services depends on how much a company can invest in security tools, resources and additional personnel. Conversely, the MSPs who provide MDR services have tools and processes that are naturally equipped to adapt to the changing needs of their clients.
MDR vs SOC
So, how do you know which security service is right for your business? There are several questions you can ask to help your business decide:
- Are there active threats that need to be addressed now?
- What is the current budget allotted for cybersecurity services?
- Does your business have the current tools and resources to implement security strategies?
- Is your business following all compliance regulations for our industry?
In the end, a SOC is a great solution if your business isn’t facing any current threats, but you would like to be protected from future security threats. Alternatively, MDR offers a quicker and more efficient solution if your business is experiencing current threats. Moreover, MDR is often more cost-effective and provides access to experts in your field who can ensure you are following necessary compliance laws.
Kick Start Your Security
Cybersecurity services aren’t just a nice-have for businesses today – they’re a must-have. Otherwise, businesses leave themselves vulnerable to cyber attackers who are continuously devising new ways to infiltrate and maliciously attack networks and servers.
Luckily, New Era Technology can get your security started on the right foot. Contact us today for a security assessment and to check out our own SOC and MDR offerings to help develop your organization’s security strategy.