What is SIEM? A guide for MSPs

SIEM is a streamlined tool that can help managed service providers (MSPs) to enhance their real-time security oversight, preemptively identify threats, and should a breach occur, reduce response time to an absolute minimum. The critical visibility and transparency that SIEM provides means that MSPs can keep track of everything that is happening across their network from one centralized location.

If you’re still not convinced, this guide walks you through exactly why you should consider using a SIEM solution.

What does SIEM stand for?

SIEM stands for ‘Security Information and Event Management’. It is a mix of SIM (Security Information Management) and SEM (Security Event Management) technology that offers MSPs and organizations real-time oversight into its security status from a centralized platform. In addition, SIEM helps to track and log data that can be used, if needed, for compliance and/or auditing.

It is a preventative security mechanism that helps MSPs to preemptively identify security threats or vulnerabilities in their infrastructure, so that they can address these weaknesses and prevent disruption.

Why is SIEM useful for MSPs?

SIEM offers a number of advantages to MSPs:

• Streamlined management: SIEM allows MSPs to monitor and track the security status of multiple environments from one place, this levels up efficiency and productivity
• Real-time oversight: Using SIEM, MSPs can keep track of their network’s security status in real-time
• Automation of threat detection: Using AI and by identifying user behavior anomalies, SIEM helps to automate what would normally be manual processes
  Identifying known and unknown security threats. SIEM helps MSPs to detect both known and unknown threats
• More efficient and faster disaster detection and recovery
• Lower incidence of false-positive alerts
• Ability to monitor and audit compliance in real-time
• Customizable so MSPs can create a dashboard that works for them

What does SIEM software do?

Event data capture

SIEM software logs data from across an organizational network. This can include user, application, security and host system data and is all logged, stored, and analyzed in real-time in a central location.

Some SIEM software also offers compatibility with third-party security platforms that enable it to compare present security threats against previously documented ‘threat signatures and profiles.’

Event correlation and threat mitigation

SIEM can identify, locate, and mitigate against cybersecurity threats by analyzing data and correlating events.

Threat detection & alerts

SIEM facilitates the monitoring and management of both physical and cloud-based environments. MSPs can track and check for any and all security threats and breaches across their entire networks. And they can set predefined rules and threat levels so that the SIEM correctly flags any incidents immediately.

Compliance

SIEM software also helps organizations to maintain compliance. Because of the cross-sectional and comprehensive data logging that SIEM collects, it is a valuable way of checking for compliance in all different areas and thus reduces the manual workload of MSPs.

Post-incident investigation

If a security incident does occur, MSPs can carry out an investigation using SIEM. They can collect and analyze relevant data to ascertain the nature of the breach and use this to inform their security protocol moving forward.

Maintain security even with BYOD

As more and more workplaces roll out BYOD (Bring Your Own Device), they’re also encountering more cybersecurity vulnerabilities. SIEM helps MSPs to monitor and track activity across all users, devices, and apps, helping to maintain critical oversight.

How to roll out SIEM effectively

To draw the most value out of a SIEM solution, it’s good practice to take stock of your particular needs, requirements, and aims. MSPs may find that they need to share the tangible benefits of SIEM solutions with their clients before getting approval, especially since it’s often a substantial up-front investment.

Once you’ve chosen your SIEM solution and are ready to deploy it, you’ll need to take the time to define data correlation rules, catalog all your devices and environments, and establish relevant IT configurations, restrictions and policies.

Future of SIEM: what’s next?

Cutting edge SIEM software is innovating to accommodate increasingly complex data, new types of threats, and multi-faceted environments. In addition, modern SIEM software offers enhanced workflows that better serve the needs of MSPs whilst also improving the ability to monitor security threats in real-time. Moving forward, SIEM will likely see further evolution that will include serious scalability and high-power visualization tools that adapt to the changing digital landscape.