Cybersecurity Challenges for SMEs
According to Cisco’s 2018 SMB Cybersecurity Report*, small and mid-sized enterprises (SMEs) are increasingly at risk of cyber-attacks, and often serve as a launch pad for larger threat campaigns. SMEs serve as easy targets for malicious cyber agents because they tend to have less sophisticated security infrastructure and fewer trained cybersecurity workers on staff to manage and respond to threats.
Managed Security Services (MSS)
A typical MSS contract manages traditional security devices such as firewalls, Intrusion detection and prevention systems. The service provider will monitor security events and alerts, offer recommendations to you, but mostly do not conduct in-depth investigation – this means that there is a high potential of false positives. This is not an ideal solution for SMEs who are already tight on resources, and may have the relevant expertise.
Why SOCaaS is important and ideal for SMEs
According to the 2020 Data Breach Report, SMEs were the target of 43% of cyberattacks and the cost of each attack was $184,000 on average, with a report suggesting that 60% of small businesses folded within six months of a cyberattack.
For this very reasons, SMEs require a more secure, comprehensive and affordable solution to protect their business interest. SOC-as-a-Service presents a viable and comprehensive solution for SMEs.
SOCaaS is offered as a service by an external company, who manages your IT/network security; from monitoring the activity of your network to the management of your Cloud services. They work with your existing IT staff (if you have one) to learn your company’s IT architecture and set up the necessary processes to deal with any potential cybersecurity threats in the future.
Setting up a custom detection and response system is time consuming. You will need to license software tools, set up the system, create procedures and security policies, hire and train a team.
TruVisor’s Cloud Falcon SOC-as-a-Service (SOCaaS)
CloudFalcon was specifically built to cater to the needs of SMEs in South East Asia. The system is used within the Japan Security Operation Center (JSOC) by their security provider and by 90% of the Financial Services Industry (FSI) in Japan.
Its advanced and high-quality security monitoring can be performed without the judgment of a specialized security analyst, and by operating the system on the cloud, the cost and operational load can be significantly reduced.