SOC Essentials for MSP IT Customers

With more than 880,418 reported cybercrime complaints in 2023, with potential losses exceeding $12.5 billion, it’s no wonder IT teams face immense pressure to protect their organizations. Unfortunately, many teams lack the resources to provide 24/7 protection.

Providing IT teams with a 24/7 Security Operations Center (SOC) as part of an expanded service from Managed Service Providers (MSPs) has become an essential element of cybersecurity strategy to combat this growing trend, enhancing overall operational efficiency and delivering a cost-effective solution.

The following blog post explores why offering a 24/7 SOC, integrated with a scalable Extended Detection and Response (XDR) solution, offers MSPs a unique opportunity to meet these demands effectively while also enhancing their service portfolio, reducing operational costs, and securing their customers.

Why 24/7 SOCs Have Become so Important

SOCs have become the cornerstone of comprehensive defense strategies. SOCs are specialized units within an organization, often provided by MSPs offering solutions that focus on monitoring, detecting, and responding to cyber threats. 

Traditionally, SOCs operated on a reactive basis, addressing incidents as they occurred. However, the increasing complexity and frequency of cyber threats have necessitated a shift towards a more proactive and continuous approach. 

This is where 24/7 SOCs come into play, offering MSPs the opportunity to deliver essential round-the-clock protection to customers that is crucial for safeguarding digital assets and sensitive information in today's threat landscape. 

The Cost of Building a 24/7 SOC

Building an internal 24/7 SOC is a significant undertaking for customers. It requires considerable financial and human resources. For IT teams looking to enhance their security footprint and extend their resources, the costs can be prohibitive. That’s where MSPs can help. 

Costs and Commitments Involved With Building an Internal SOC:

Analyst salaries

A crucial component of any SOC is its team of skilled analysts. The average salary for a SOC analyst is approximately $100,000 per year. Given the round-the-clock nature of a 24/7 SOC, maintaining continuous operations typically requires a minimum of six analysts. This staffing requirement alone results in a significant annual payroll expense.

Hiring and training

Finding the right talent for a SOC is both time-consuming and costly. On average, it takes around six months to source, hire, and train a single SOC analyst with 3-5 years of experience. During this period, existing security measures may be strained, and the organization remains vulnerable to attacks. Additionally, the recruitment and training process adds further to the overall cost of establishing an in-house SOC

Staffing requirements

To ensure continuous monitoring and incident response, a 24/7 SOC typically requires at least six analysts. This staffing level is necessary to cover multiple shifts and maintain operational efficiency. Beyond the direct salary costs, organizations must also consider the expenses related to benefits, ongoing training, and potential turnover, which can further inflate the budget.

Infrastructure and operational costs

The infrastructure needed to support a 24/7 SOC involves significant capital expenditures. This includes investments in advanced security tools, software, hardware, and physical space. For a company with fewer than 100 employees, the average cost to build and operate a 24/7 SOC in the first year can reach up to $1,000,000. These expenses cover not only the initial setup but also the ongoing maintenance and updates required to keep the SOC effective against evolving threats.

The Essential Role of a 24/7 SOC for MSPs

A 24/7 SOC is no longer just an added value—it's an essential service that customers are increasingly demanding from MSPs. This is where UncommonX's 24/7 SOC comes in, offering real-time protection that is crucial for safeguarding MSP customers' digital assets.

Why MSPs Need to Offer a 24/7 SOC:

Complex threat landscape

Cyber threats are more sophisticated and frequent than ever. Without continuous monitoring, the average company takes 277 days to identify and respond to an attack—a delay that can lead to devastating consequences for a customer. A 24/7 SOC ensures that threats are detected and mitigated promptly, reducing risk.

Proactive monitoring

UncommonX’s 24/7 SOC provides proactive monitoring that goes beyond just identifying threats. It analyzes traffic and trends, provides intelligent insights, and supports proactive threat hunting, enabling MSPs to offer superior protection to their customers.

Continuous protection

UncommonX’s 24/7 SOC provides proactive monitoring that goes beyond just identifying threats. It analyzes traffic and trends, provides intelligent insights, and supports proactive threat hunting, enabling MSPs to offer superior protection to their customers.

How Partnering with UncommonX Benefits MSPs

Many organizations rely on a patchwork of security tools, leading to operational inefficiencies and increased costs without improving security outcomes. Managing multiple systems creates gaps in visibility and complicates threat detection. Exposure Management addresses these issues by unifying your security infrastructure, offering a clear view of your entire network.

Key Advantages for MSPs:

Reduce costs and complexity

Building and maintaining an in-house SOC is prohibitively expensive, particularly for smaller enterprises. With UncommonX, MSPs can provide their customers with a high-quality SOC service at a fraction of the cost through a scalable, predictable subscription model. This not only reduces the financial burden but also minimizes the complexity of managing multiple security tools.

Secure your customers with advanced capabilities

Our 24/7 SOC is powered by a patented Exposure Management Platform that offers complete visibility into your customers' entire network and infrastructure. This comprehensive view allows for real-time risk assessments, automated alerts, and detailed reports—ensuring that your customers are always protected with the most up-to-date security measures.

Expand your service offerings

UncommonX’s XDR solution is designed to integrate seamlessly with your existing tools and systems, allowing for rapid deployment and broad integration. This flexibility enables MSPs to quickly scale their services and offer more value to customers without the need for significant additional investments.

Are You Providing 24/7 Protection to Your Customers?

As an MSP, leveraging a 24/7 SOC is crucial to delivering a comprehensive cybersecurity solution. These services not only enhance your operational efficiency but also offer a cost-effective way to ensure continuous protection for your customers, improve visibility, and streamline your service offerings.

By integrating UncommonX’s SOC services, you can strengthen your customers' security defenses without the substantial investment required to build and operate a SOC in-house. This allows you to focus on expanding your business while providing your customers with the robust, round-the-clock protection they need.

Discover how our 24/7 Managed SOC solution can elevate your service portfolio. Contact us at hello@uncommonx.com to explore the cost benefits of partnering with UncommonX versus the challenges of building a SOC from scratch.