Want To Effectively Evaluate Managed SOC Providers?

Law firms are now major targets of nation-state and financially motivated threats because of the sensitive nature of the data they handle. According to IBM, the global average cost of a data breach has risen to $4.88 million. For professional services organizations, including legal, accounting, and consulting firms, the cost of a data breach is even higher, with an average cost of $5.08 million. As a result, security managers need to ensure that they have the appropriate resources to identify threats and respond to them as quickly as possible.  

When it came time for Lowenstein Sandler to choose a new Security Operations Center (SOC) provider, we did not want to go with the traditional method of conducting Request for Proposals (RFPs), because this solution needed to be based on evidence, not marketing materials. It seemed that a bake-o model was the most appropriate way to determine which solution would work best in our environment.