SIEM monitoring is a big investment. Especially if the budget is already tight. However, it’s powerful, the multilayered defense has the potential to make it well worth the investment. So how do you know if it’s right for your business?

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Benefits

SIEM monitoring allows you to detect potential threats to your network in real-time. This means that you and your teams can have a better response time in remedying any breaches. Better yet, the system itself will instantly react to protect your network from becoming compromised. Timelines is a key trait of effective cyber defense, especially when you are trusted with your clients’ personal data.

SIEM monitoring can also make reporting significantly more efficient. It collects data from all those logs in order to create centralized reports that give you an idea of the safety of your entire network. This is much different than using different software tools to generate reports about separate tasks. SIEM has the ability to collect logs from your entire network, helping your staff make a more comprehensive analysis.

You can also make sure that your business meets the IT compliance regulations. This means that investing in SIEM can prevent you from receiving fines.

Risks

When deciding if SIEM is right for your business, it’s also important to look at the potential risks you may be facing. Remember that when you decide on a traditional SIEM solution, you’re not just investing money, you’re investing time. Depending on the service provider, some systems can take months to get up and running. A thorough installment will make for better service, just make sure that your business can afford to wait.

Cybersecurity companies would also recommend you analyze your budget. Traditional SIEM can be very expensive, even before it is able to start providing security. It’s also important to have a finical buffer in place in case of deployment failure. Once the budget is in place, make sure that the solution you decide on is flexible. This way, when your business expands you will still have the protection that you need.

If this sounds like a lot, you might want to look out for a SIEM-as-a-Service solution, especially for MSPs. It is much more scalable and is accessed through a cloud, meaning you can skip the prolonged installation.