Why is Everyone Talking About Managed SIEM? [2023]

calendar iconAugust 5, 2021

Organizations worldwide are experiencing dangerous and sophisticated cyber threats as they move online towards remote work and a more digital existence. With increased attacks and cyber-crime, it is important to have a tool that can help your organization understand the current state of your infrastructure and identify any security issues.

Cybercrimes add up to trillions of dollars in losses, making the presence of security professionals necessary for businesses of all sizes and types. After all, data and access security are an integral part of keeping these organizations secure, which mandates hiring the right people for the right job.

It is also vital for these companies to invest in robust SIEM software to get a holistic view of their information security. One of the examples of such software is Azure Sentinel. This SIEM solution lets you easily collect, detect, investigate and respond to threats smartly.  

According to the FBI, there has been a 300% rise in reported cybercrimes, partially due to remote work opportunities that have grown more popular over the last few years.

Unfortunately, there’s even more bad news on the horizon as The State of Cloud Security 2020 Report reveals that 70% of companies that host workloads/data in the public cloud have suffered a security incident.

An effective way for a company to proactively protect and detect against security problems is to partner with a Managed (SIEM) service provider.

What Does SIEM Stand For?

Security Information and Event Management solutions use statistical correlations and rules to turn events and log entries from security systems into valuable and actionable information. This data can help security teams identify threats and risks in real-time, perform a forensic investigation on previous security occurrences, manage incident response, and prepare reviews for compliance purposes.

SIEM is a security-related solution that can help your company detect potential security vulnerabilities and threats without disrupting your business operations. It surfaces the behavior anomalies of users and leverages artificial intelligence to systematize the manual processes concerning incident response and threat identification.

Benefits Of SIEM

Irrespective of how small or large your firm may be, it is essential to take proactive steps to monitor and mitigate IT-related security concerns. SIEM Solutions, like Azure Sentinel can benefit corporations in various ways and have become a considerable component in simplifying security workflows.

Here are some benefits of SIEM:

Advanced Real-Time Threat Identification

SIEM active tracking solutions within your infrastructure considerably decrease the lead time necessary to detect and respond to potential network vulnerabilities and threats, helping to fortify security posture as your company scales.

AI-Driven Automation

Today, the next-generation SIEM solutions are integrated with robust Security Orchestration, Automation, and Response (SOAR) functionalities, saving IT and security teams resources and time as they handle business security.

Leveraging deep machine learning that automatically adapts to network patterns can manage complex threat detection and incident response procedures in significantly less time than physical teams.

Enhanced Organizational Efficiency And Performance

Due to the improved IT environment visibility that SIEM solutions can provide, such solutions can become a crucial driver of enhancing interdepartmental efficiencies. With a unified and cohesive view of system data, integrated SOAR, your teams can collaborate and communicate more effectively when responding to security incidents and perceived events.

Detecting Unknown And Advanced Threats

Considering the way the cybersecurity landscape rapidly changes, companies need the capability to rely on solutions that help them identify and address both unknown and known security threats.

Leveraging AI-powered technology and assimilated threat intelligence feeds, Security Information, and Event Management solutions can mitigate modern-day security-related breaches successfully such as, the following:

·       Insider threats

·       SQL Injections 

·       Phishing attacks

·       Data exfiltration 

·       DDoS Attacks

Compliance Assessment And Reporting

Compliance reporting and auditing are both challenging and critical tasks for many companies. SIEM solutions drastically diminish the resource expenditures necessary to manage this procedure by providing on-demand reporting and audits in real-time whenever needed.

Monitoring Applications And Users

With the increasing popularity of remote teams, BYOD (Bring Your Own Device), and SaaS applications policies, enterprises require a decent level of visibility to alleviate network risks outside the accustomed network perimeter.

SIEM solutions allow you to monitor network activity related to all devices, applications, and users, considerably improving the transparency of the entire infrastructure. It also helps you detect threats irrespective of where digital services and assets are being accessed.

Importance Of A Managed SIEM

managed SIEM enables businesses to scale their event management and security information platforms quickly. This outsourced model enhances a company’s overall security posture, allows them to manage their compliance requirements better, and augment Mean-Time-To-Respond (MTTR) and Mean-Time-To-Detect (MTTD).

By combining security event management (SEM) and security information management (SIM), the SIEM monitors and analyzes events in real-time and tracks and logs security data for auditing and compliance purposes.

SIEM software has become an essential tool in the modern-day compliance and security realm. Cybersecurity is a rising concern with the high number of data breach cases that climb each year. Even medium and small-sized organizations understand a greater need to protect their IT assets from external threats.

Essentially the managed SIEM concentrates on cost reduction and the ability to use outsourced security proficiency to manage your security operations and safeguard the business from data breaches and cybersecurity threats.

So, why should you consider managed SIEM for your corporation?

·       Reduced deployment costs. If your company chooses to set up a SIEM tool on-premise, you must purchase the IT infrastructure necessary to facilitate the deployment. For medium or small-sized businesses, getting additional IT assets to aid a SIEM deployment can be costly. With Managed SIEM services, you can pay a subscription fee every month

·       Simplified security operations. Managed SIEM service providers offer you core solutions of SIEM, like incident response and security monitoring. However, they can also handle tasks that your internal SecOps team would typically be responsible for. This includes delivering security reports every month, installing updates and patches, overseeing compliance, and keeping the SIEM asset inventory and configuration functions

·       Rapid deployment. Managed SIEM providers already have an existing IT infrastructure prepared to support the quick deployment of the SIEM solution. Rather than customizing your deployment of SIEM (how to configure, what assets to purchase, who should be assigned to monitor, how to train them, procedures and policies, etc.). It is sensible to consider partnering with a competent managed SIEM, developing the know-how to install SIEM efficiently to start securing your IT infrastructure

·       Access to expertise. A leading managed SIEM provider maintains a skilled workforce of cybersecurity professionals that collaborate to analyze your company’s security logs, gauge incidents, and provide risk identification and response services. Moreover, this is a cost-effective alternative to hiring, recruiting, training, and handling your in-house cybersecurity experts team

·       Access to the latest technology. Managed SIEM providers leverage industry-leading and cutting-edge tools to offer your company a top-notch standard of compliance and security. These technologies, if deployed internally, can cost your enterprise hundreds of thousands of dollars with the mandatory annual licensing. Still, a managed SIEM provider implements them efficiently and safeguards your IT infrastructure covered in your standard subscription fee.

Wrapping Up

Cybersecurity and data protection is a critical part of every business these days.  And that makes managed SIEM a viable option for companies to safeguard their workloads irrespective of the location or platform. This is mainly because 76% of respondents in the Managed Security Report (Crowd Research Partners) said that SIEM significantly reduced security breaches.

Adopting this holistic approach indicates that you can seamlessly pay attention to your business, knowing that your data security is in a trusted partner’s hands. The key is partnering with a robust and proficient Managed SIEM Service after ensuring enterprise customers and mid-market credibility with their company-critical workloads.