In response to the growing threat in South Africa, the term SOCaaS (security operations centre as a service) is gaining traction as businesses seek assistance from outside companies to perform highly skilled monitoring, detection, and response activities.
SOCaaS is a type of managed security service that is cloud-based and built on a multi-tenant software as a service (SaaS) platform to provide SOC services 24 hours a day, seven days a week.
As a result, adopting a SOCaaS is advised for businesses seeking assistance from an outside supplier to carry out highly skilled monitoring, detection, and response duties.
Some businesses may be well-versed in cyber security. However, financial constraints and insufficient experience may limit the ability to construct a fully functional, internal 24/7 modern SOC, prompting the need to outsource.
As a result, several companies seek superior ability to subcontract monitoring, detection, and response functions to a SOCaaS.
This model’s advantages make it the quickest, easiest, most scalable, and most cost-effective option to implement.
Security Operations Centres have expanded significantly in South Africa in recent years, owing mostly to economic and regulatory concerns.
While national attacks and advanced cyberthreats continue to loom over firms both within and outside of borders, international corporations and government organisations are perpetually vulnerable.
Another factor making companies more vulnerable to attacks is the rising use of digital technology and the shift to remote working following the epidemic.
As a result, they rely entirely or primarily on managed security service providers, who provide both monitoring and proactive managed detection and response services.
Given the ever-increasing attack surface, businesses are underlining the significance of having a solid cybersecurity plan in place as they embark on their digital transformation journey.
South African corporations have recently made major investments in SOCs in order to expand their cyber security business.
This has provided a glimpse of several organisations’ market expansion ambitions, demonstrating how South Africa would be the heart of hosting cyber security operations centres in the next few months.
According to analysts, the SOC networks will allow for the rapid delivery of cyber security services and activities across the continent.
Analysts’ analysis emphasises the growing necessity for businesses to invest in cyber security measures to avoid reputational harm, financial loss, and potential business interruptions.
Cassava Technologies, which owns Liquid Intelligent, recently announced R885 million ($50 million) in new capital from C5 Capital to drive growth, including pursuing cyber security prospects.
Similarly, after rising demand for security services in South Africa, Liquid Intelligent Technologies intends to expand its Cyber Security Fusion Centre to other countries of Africa.
Liquid C2, Liquid Intelligent Technologies’ cloud and cyber security division, opened its first African Cyber Security Fusion Centre in Johannesburg in July.
Since the catastrophic COVID-19 epidemic, most organisations on the region have accelerated their digital transformation strategy, increasing the demand for cyber security operation centres.
BCX, a Telkom subsidiary, is likewise investing heavily in the area, constructing a Security Operations Centre near its Midrand data centre as the business repositions itself for the cyber security industry.
The IT services firm has formed a relationship with the European multinational information technology conglomerate Atos to combat cybercrime through the use of quantum computing, big data analytics, and automation capabilities from the SOC.
In2IT Technologies, situated in Illovo, is another South African business making significant inroads into SOC. According to In2IT chairman Tshepo Mokoena, they are among the pioneers who are assisting many customers to deal with cyber-attacks. They have a 100-seater SOC in the country.
In2IT is a major provider of SOC services, servicing numerous customers in the continent and protecting them from the most recent developing threats. They rely heavily on in-house developed automation platform as well as intelligence driven threat management centre making it one of the top SOC in South Africa.
Mokoena argues that today, cyber-attack readiness is limited to a particular organisations, when what is required is an integrated country-wide plan to combat cyber criminals.
As part of its proposal for a national cyber response plan, the company says it intends to increase investment in SOC in the near future.
