Post by BlueGrid Team 
August 6, 2024 | 
Creating a top-notch Security Operations Center (SOC) comes with its fair share of challenges – especially if you’re collaborating with the SOC company. But let’s talk about one specific challenge that not only occurs at the beginning of the SOC partnership but also later throughout your work.
One big challenge is finding the right balance between how much it costs and how good it is. As companies gear up to beef up their online security, figuring out the ins and outs of SOC pricing becomes super important.
SOC Pricing Structures
What to Expect for SOC Pricing Models
SOC providers offer various payment methods for their services, giving organizations flexibility in choosing the most suitable option. One common approach is tiered pricing. It presents clients with a selection of service levels, each associated with its pricing tier.
Another method involves paying based on the actual utilization of SOC services. That allows organizations to align their expenses with specific needs and usage patterns. Fixed-price packages are available, where organizations pay a predetermined amount for a package of services.
Cost vs Quality: How to Find the Sweet Spot?
While cost considerations are certainly important, prioritizing affordability at the expense of quality can expose organizations to significant risks and vulnerabilities. Therefore, finding the sweet spot where cost and quality intersect harmoniously is important for optimizing cybersecurity investments and safeguarding digital assets.
To navigate through this effectively, organizations must adopt a strategic approach. That considers both immediate budget constraints and long-term security needs. This involves conducting a comprehensive assessment of available SOC solutions and evaluating their capabilities, reputation, and track record.
SOC as a Service: The Budget-Friendly Option
Exploring SOC as a Service
In recent years, SOC as a Service has emerged as a strong force in the cybersecurity landscape. This innovative model offers organizations a cost-effective alternative to traditional SOC setups.
That leveraging cloud-based technologies and economies of scale to deliver enterprise-grade security capabilities without the hefty upfront investments.
By shifting from a capital-intensive to an operational expenditure model, SOC as a Service democratizes access to advanced cybersecurity solutions, empowering organizations of all sizes to fortify their defenses against emerging threats.
Shared Teams vs. Dedicated Team
SOC pricing models usually include a variety of options designed to meet the diverse needs of organizations. In this post, we will talk about the two most common options – the dedicated team model and the shared team model.
The dedicated team model is where organizations are assigned a dedicated team of cybersecurity experts who work exclusively on their security operations. This approach offers a high level of customization and attentiveness, as the team is fully focused on the organization’s specific needs and priorities. But let’s talk about that a bit later.
On the other hand, the shared team model involves organizations sharing a team of cybersecurity professionals with other clients of the SOC provider. One significant drawback of the shared team model is the potential dilution of focus and attention. With cybersecurity professionals dividing their time and resources among multiple clients, there may be longer response times to security incidents or reduced availability for urgent matters.
Besides the obvious disadvantages of the shared team model, this model offers one huge benefit that attracts most people. Cost saving.
Is it worth it? You’ll find out soon.
Should You Invest in Dedicated Teams for Cybersecurity?
Understanding the Importance of Dedicated Teams in SOC
Dedicated teams consist of experienced professionals entirely devoted to protecting the digital assets of their clients. Unlike shared teams, which might divide their attention across different organizations, dedicated teams offer a higher level of expertise.
These dedicated teams work tirelessly to monitor and respond to potential threats, employing their skills to safeguard against cyberattacks. Their sole focus is on the specific needs and priorities of their assigned organization, allowing for a more personalized and attentive approach to cybersecurity.
Also, the dedicated team model promotes collaboration and synergy within the SOC. With a shared sense of purpose and commitment, dedicated teams work seamlessly together to address emerging threats and vulnerabilities, ensuring comprehensive protection for their clients’ digital assets.
Evaluating the Cost-Benefit of Dedicated Teams
While the idea of saving money might make shared teams seem attractive to some organizations, dedicated teams offer something much more valuable: Better security.
Dedicated teams are better at finding and dealing with threats quickly, which means they can keep your organization safer. They also pay more attention to what matters most to your organization, making sure your security needs are met. So, even though shared teams might seem cheaper, dedicated teams give you peace of mind that’s worth a lot more than just cost savings.
What Can You Expect from a Dedicated Team?
SOC vendors must have expertise in crucial monitoring tools and the skill set to establish escalation processes. It’s beneficial for them to also be proficient in setting up tools like SentinelOne, Scalefusion, VPNs, and password managers. While experience in penetration tests and code reviews is a bonus, the primary focus should be on essential technologies for effective client monitoring and protection.
PS. We’re very familiar with all the mentioned technologies.
Aligning Budget Constraints with Security Needs
Aligning your budget with your security needs means carefully weighing your financial limitations against the level of security protection required to safeguard your organization’s digital assets effectively.
One key consideration is to prioritize your security requirements based on the specific risks and threats facing your organization. Conducting a comprehensive risk assessment can help identify areas of vulnerability and determine the level of security measures needed to mitigate these risks effectively.
Conclusion
While budget constraints may necessitate seeking more affordable options, you shouldn’t compromise on the quality and effectiveness of security solutions. Look for vendors that offer a balance between cost and value, providing robust security measures at a price point that aligns with your budget.
Where to begin that search you may ask? You can start right here!
