At one point in time cybersecurity was considered to be an afterthought but is now an essential consideration in the building as well as maintenance of a cyber network. With more business transactions being conducted online, cybercriminals are constantly devising innovative ways to penetrate cyber networks, making away with valuable data and causing severe damage to the impacted business in the process. It is therefore important that businesses utilize every security tool at their disposal to ensure that their networks are kept secure. Using only one type of security tool is no longer sufficient in offering adequate cyber protection.
Of the various cybersecurity tools that should be used in safeguarding a network, one of the most important is a Security Information and Event Management (SIEM) system. SIEM systems collect all the security logs from all the hosts within a network and stores them centrally. These logs are then analyzed to get an overall picture of the security state of the network. This is in contrast to other security tools which may not provide a comprehensive assessment of the network's security state.
There are two principal ways of deploying SIEM systems across business networks namely locally or via the cloud. With local SIEM deployment, you are responsible for the setup and maintenance of the system. However, with cloud-based SIEM deployment, otherwise known as SIEM-as-a-Service, a third-party vendor assumes the responsibility for the setup and maintenance of the SIEM system. Discussed below are five of the benefits of using SIEM-as-a-Service to protect your business network:
1. Cost Savings
Setting up a SIEM system for a network is typically an expensive proposition. There are costs associated with the purchase of the necessary servers and other hardware, finding the space to install them, hiring cybersecurity specialists with the relevant skill sets, as well as maintenance costs. If not properly managed, these costs can spiral out of control and erode any profits that may have been realized. In contrast, with SIEM-as-a-Service, the third-party vendor assumes the responsibility of deploying and maintaining the system and hiring the necessary cybersecurity specialists. A regular fee is paid to the third-party provider for these services; this fee is usually cheaper than the cost of local deployment and maintenance.
2. Comprehensive Reporting
With multiple software tools used to secure different aspects of a network, it can be a challenge to obtain comprehensive reports detailing the security state of the entire network. This is because each software tool generates its reports based on its designated task; for example, firewall security logs are totally different from network intrusion prevention system logs. SIEM collects and stores the logs from the disparate security tools centrally and generates comprehensive reports detailing the state of the entire network, and not just one fragment.
3. Network Monitoring
It is important that a network is monitored constantly round-the-clock so that potential threats can be recognized promptly and appropriate measures initiated. With SIEM-as-a-Service, the third-party vendor is obligated to ensure that specialists are on hand to monitor the network at all times of the day. As such, you have the assurance that response times to any network threats will be rapid so that there will be little to no damage to your network.
4. Compliance Assessment
There are several federal, state, and local regulations dictating how the data is handled and stored, but these regulations vary by industry. Examples of some of these regulations include the Health Insurance Portability and Accountability Act (HIPAA), Payment Card Industry Data Security Standard (PCI DSS), and Sarbanes-Oxley Act, among others. Businesses that fail to comply with their relevant regulations may face steep fines or other adverse consequences. SIEM systems can generate reports detailing the effectiveness of businesses in complying with relevant regulations and show areas that need improvement.
5. Neutralizing / Preventing Cyber Attacks
SIEM systems are able to identify threats by analyzing log files from network hosts. They are also able to take measures to protect the network from being compromised when a threat is detected. Upon recognition of a threat, the SIEM system can communicate with other security controls within the network, notifying them of the threat so that the threat is contained and neutralized in a timely manner.
The Bottom Line
At NewCloud Networks, we are experts in providing SIEM-as-a-Service to all kinds of businesses. We have experts on hand ready to talk with you about your security needs so that a SIEM solution can be set up for your business. Contact us today for more information on our SIEM as a Service.