Cyber risk is now seen by Australian organisations as one of the biggest risks they face. Every week we read of bigger and more severe threats from ransomware, phishing to malware attacks, along with even greater issues. At the same time, security budgets are stagnant and competition for security talent is fierce for businesses looking to improve their cyber security posture.

To maintain in-house security teams, organisations particularly in regulated industries face significant costs as they attempt to mitigate risks and maintain compliance to increasingly complex regulatory frameworks.

This is why Byte has decided to fill the gap by launching its Managed Security Operations Centre (SOC) dedicated at helping small to medium businesses (SMBs) who are looking for a better way to improve their security posture while maintaining a predictable security budget.

What is a managed SOC and what does it do?

A Managed SOC is a subscription-based security that offers outsourced threat detection and incident response. It offers the expertise and infrastructure of an external team of cybersecurity experts that monitor your user identities, devices, applications, data, cloud environments, and network for known and evolving advanced threats.

Byte’s Managed SOC provides:

  • Proactive monitoring, threat detection and responds to security risks;
  • Solutions that help organisations comply with complex regulatory frameworks; and
  • Cost-effective solutions to cover business security monitoring requirements.

For SMBs with 50 to 1,000 employees, maintaining this level of security posture is difficult to do without incurring significant capital investment and ongoing operational costs, whereas subscribing to a Managed SOC as a Service can provide 24×7 monitoring at a fraction of that cost and effort.

As a certified Microsoft Security Gold Competency Partner, Byte’s Managed SOC provides deep technical expertise using robust threat monitoring and incident detection infrastructure and tools. Byte is also certified to international standard on information security, ISO27001.

Additionally, Byte’s deep knowledge of the specific needs of professional services, accounting, energy and utilities, and government organisations means your business can rest assured that all compliance and cyber security best practices at being maintained.

How does an SMB benefit from Managed SOC services

SMBs who use Byte’s managed SOC services will see marked benefits in the ability to monitor threat detection, threat response, staffing, and budget.

Additional benefits include:

1. Reduced complexity for compliance

Like other businesses, SMBs are required to meet complex compliance and regulatory frameworks on having unified platform to gather user identities and events, and continuous threat hunting.

Most SMBs don’t have the time or expertise to undertake the considerable amount of work that is necessary to design, implement, configure, test, manage, maintain, upgrade, and operate an internal SOC to meet complex regulatory requirements. Using a Managed SOC accesses this expertise from the beginning of the service, making compliance easy.

2. Avoid business downtime

No business can afford to be out of business, least of all SMBs with pressure on margins and intense competition. Managed SOCs provide proactive monitoring and take action to address security threats before data leakage or big outages occur that threaten business continuity. A managed SOC will discover the vulnerability on clients’ systems and take proactive action before there is time for malicious cyber criminals can exploit backdoors or security holes.

3. Prevent data breaches, keeping customer and employee data safe

Financial services, government and professional services sectors are facing increased rates of data breaches according to the Office of Australian Information Commissioner, which releases regular reports on the data breach landscape. Taking proactive action on security threats before data leakage is an important step to prevent reputational damage through embarrassing and preventable data breaches.

4. Improve threat detection and response measures

Byte is well equipped to provide threat detection and response using the latest threat intelligence, a team of dedicated security experts, best of breed security solutions, and automated response orchestration. Byte’s Managed SOC solutions increase the speed, efficiency, and effectiveness of threat detection and response capabilities far beyond that of internal security teams.

5. Cost-effective security

Trying to achieve the same result as a Managed SOC will add to the overall cost to an organisation. The shift from managing security in-house to making a single payment each month makes budgeting for effective security measures more predictable and affordable.

Furthermore, the rising costs and difficulty in identifying, recruiting, and retaining top talent for security teams is becoming harder each year. Reduce the costs on tools, management, and staff by accessing managed SOC solutions.

For more information, get in touch with Byte.