3 Important Reasons Your Business Needs Managed SIEM

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Security Information and Event Management (SIEM) technology is a critical part of any business’s comprehensive security strategy. SIEM offers businesses an all-important global view of their infrastructure that gives security professionals greater insight into how well the total network is functioning. 

This is crucial information, no matter the size of your business. It may seem that hackers typically target big corporations like Google or Facebook, but in reality, the threat of cyber attack looms large for small businesses.

According to cyber liability insurance provider UPS Capital, a cyber-attack will cost a small business anywhere between 84 and 148K. Not only that but most small businesses don’t even survive, with 60% going out of business within six months of an attack.

Hackers keep getting better at hacking

As hackers get more sophisticated, their attacks are growing in complexity and severity. Putting even the most stringent preventive cybersecurity measures in place no longer offers businesses enough protection from cybercriminals.

Since eventually someone, somewhere will find a new way to hack into the system that you could never have anticipated, it is crucial for your organization to have protocols in place to detect an attack and quickly disrupt it—along with tools to facilitate remediation in the aftermath. This is where SIEM can come to the rescue. Read on to learn how next-generation SIEM solutions can provide critical enhancements to your business’s threat protection protocols.

SIEM enables incident detection

While SIEM does not actually stop an attack, it is invaluable in allowing IT teams increased network visibility so they can discover previously hidden areas of a network. It correlates data from multiple sources—like servers, firewalls, antivirus software, and end-user devices—to provide enhanced incident detection capabilities such as:

Log management: SIEM technology not only logs security events but can also analyze logs to search for and identify malicious activity. It does this by analyzing events from sources across a network and reconstructing and examining the events to determine the type of attack.

• Threat detection: SIEM tools reduce security breaches for businesses. Increased network visibility allows your security team to detect threats more quickly, and once a threat is detected, SIEM enables IT, teams to monitor the attacker’s activities, providing valuable insights that help dictate the next steps and remediation efforts.

• Security alerts: Alerts correlate to security events, making connections between SIEM-observed patterns and network threats, prompting IT teams to investigate these potential threats.

SIEM facilitates regulatory compliance

Heavily regulated industries like healthcare and finance that are constantly under the microscope tend to rely on SIEM technology. Businesses use SIEM as part of their cybersecurity plan not only to protect sensitive data but also to demonstrate to regulatory agencies that they are taking concrete measures to comply with regulations.

SIEM is able to report specifically on compliance processes like risk assessment and user behavior analytics. It enables organizations to log events in one central location and can generate a single report of any logged security events from sources all across your network. Typically organizations would need to retrieve data from each individual source across an infrastructure including applications, networks, and security devices, exhausting financial and other resources.

SIEM promotes efficient incident management 

More efficient incident handling saves time and money. The faster the incident is contained, the less damage is done to your finances and reputation, and the faster your business is back on track. There are several ways SIEM promotes efficient handling of incidents:

  • It enables cybersecurity professionals to more quickly identify the path of the attack through your network.
  • It allows for quick identification of all areas of your network affected by an attack.
  • It has automated mechanisms that will keep trying to stop attacks that are in progress.

SIEM essentially provides actionable intelligence so that IT professionals can quickly assess threats and respond to them appropriately.

A Managed SIEM solution is great for overburdened IT staff or smaller budgets

When deciding how to implement a SIEM solution at your organization, it pays to consider the needs and capabilities of your staff. There may be skill gaps that make hiring outside experts a smart option. Or, your organization may have excellent cybersecurity experts on board who are already drained and overtaxed by the constant vigilance and tedious rote tasks commonly required of security professionals. In both of these scenarios using a SaaS, SIEM solution may be best.

A managed SIEM solution is also a convenient and cost-effective alternative for companies with smaller IT budgets that might find on-site solutions to be prohibitively expensive. 

When IT staff or budgets are already stretched to the limit, employing a SaaS solution for your SIEM needs relieves your staff of having to learn how to implement and maintain systems on-the-fly and immediately puts your security into the hands of trained experts, without the extra expense of hiring a dedicated employee.

Using a SaaS gives your business the tremendous advantage of having your SIEM implemented right away with no ramp-up time before your organization is fully protected.

Make sure your business is prepared for digital threats

To deal effectively with sophisticated hackers who are constantly upping their game takes more than base-line reporting tools and a traditional firewall. The level of threat faced by businesses today calls for a more vigilant approach to cybersecurity.

SIEM technology’s ability to automatically monitor logs correlate data, recognize patterns and alert cybersecurity professionals to threats make it an indispensable tool for businesses wishing to protect themselves from today’s cybercriminals.

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