Every business faces cybersecurity risks, regardless of the company’s size or the nature of its operations. How can your company protect itself in the face of increasing cyber threats? IT consulting services recommend taking a proactive security approach that uses security monitoring technology to detect threats. However, it’s also vital to have plans in place so that you can respond to an attack. SIEM is an integrated security approach that addresses both sides of the issue. Here’s how it works.
SIEM: The Importance of Threat Detection and Response
Security Information Management (SIM)
To understand SIEM in its entirety, it helps to break it down into its two components. On one hand, you must be able to detect threats as soon as possible. Threat detection depends on information. Therefore, Security Information Management, or SIM, focuses on how we can use data to identify and nullify threats. SIM software acts like a smoke detector looking for signs of a fire. How can software know when your systems are under attack? Thank artificial intelligence.
Artificial intelligence looks for patterns in your network and file behavior. For instance, it can log each individual’s activity and determine how your daily business tasks typically affect the network and your files. In addition, it comes pre-programmed to detect certain nefarious patterns; for instance, the trademark flood of requests that signals a DDoS attack. When SIM software spots unusual activity, it alerts your IT team, so they can respond. This approach has significant benefits for businesses.
The Impact of Real-time Security Monitoring
IBM publishes an annual report that analyzes the cost of data breaches. Their findings reveal that using AI-powered security information software can save companies nearly two million dollars. These savings are the direct result of faster threat detection. The sooner you can stop a data breach, the faster your company can resume regular operations. In addition, you limit your liability exposure when less of your clients are affected.
Analysts have found that data breaches that take more than 200 days to close cost a million dollars more on average compared to those that are closed before that threshold. Investing in the right technology to detect and prevent attacks will save your company significant sums in the future. Ask IT consulting services to help you decide which security information systems to implement. Nevertheless, detection is only half the equation. How will you respond in the event of a breach?
Security Event Management (SEM)
What happens when an attack or data breach is detected? When your security monitoring software detects a threat, you have a security event on your hands. Some events may be as minor as an associate reporting a suspicious email, while others could be as serious as an ongoing data breach. It’s important for you to have action plans for security events. This is the core of security event management.
However, your plan is only as good as its execution. Your associates must know how to respond to threats, which is why we recommend training programs with IT consulting services. We’ve developed training programs that simulate attacks so that you can test your response plans. We’ve also built cyberattack escape rooms that give your team the chance to work together to resolve a potential threat. However, you can also automate your responses with a SIEM approach.
Security Information and Event Management (SIEM)
With cloud computing and data processing, it’s possible to finally unify security information management and security event management. Together, they’re known as SIEM. With real-time data analysis, your AI-driven system can automatically take action when a security event arises. For example, if a user’s credentials are compromised and the system detects unusual activity, it can automatically log that user out and force them to change their access credentials. This results in a smaller breach with minimal damage to your organization.
The SIEM approach to cybersecurity also makes data collection more useful. By collecting data about security events as they happen, it’s easier to comply with regulations about data breaches and their disclosures. Event logs can be used by data forensics experts to determine the exact cause of your event, which gives you insights into how you can further fortify your cybersecurity. A security event is almost a certainty, but how you detect it and respond to it determines the outcome.
Implementing SIEM With IT Consulting Services
Many large businesses have the luxury of being able to afford a complete team of cybersecurity experts to develop an in-house solution. In contrast, SMBs often struggle to employ even a few IT professionals, given the high salaries true professionals in this field can command. What’s worse is that SMBs are precisely the most vulnerable to being attacked. The National Cybersecurity Institute found that 60% of SMB cyberattack victims went out of business in the year following the attack. IT consultants for SMBs can close this gap.
IT consultants can work as managed service providers. Instead of building your own team, you can pay a flat monthly fee to an IT managed services provider and gain access to all of their experts. SMBs get all of the benefits of working with highly educated IT personnel without the budget-breaking expense involved. To implement a SIEM approach in your company, your IT consultants will develop your detection and response capabilities.
Implementing Security Monitoring Software
IT managed service providers can remotely monitor your network and files by using the latest security software. As we described earlier, these tools will use AI to detect and prevent attacks against your company. Depending on your needs, we may also recommend upgrading email monitoring capabilities to avoid phishing attacks, or additional file monitoring protection to avoid data loss.
Preparing to Respond to Security Events
Your IT consultants can help you draft action plans so that your entire team can respond to security events correctly. Just as you perform regular fire drills, you should also schedule cyberattack simulations to practice executing these plans. When you can both detect and react correctly, your company will truly be cybersecure.
Contact Edafio to schedule a meeting with one of our IT experts, and ask about a cybersecurity risk assessment to determine the best way to implement SIEM in your company.