What is SIEM, and why do small businesses need it?

What is SIEM, and why do small businesses need it?

Regardless of the size of your business, a robust security plan is vital to keep cyberthreats at bay. Security information and event management (SIEM) can play a core part in this by helping monitor, track, pinpoint, and analyze potential risks as they come. We break down the functions of SIEM and how small businesses could benefit from it.

What is SIEM?

Combining security information management (SIM) and security event management (SEM), a SIEM solution helps IT teams gain a comprehensive view of the company’s network. It gathers data logs from all assets within your IT system — including firewalls, devices, and Wi-Fi networks — and consolidates this information into a single dashboard. IT teams can then use these insights to quickly detect and respond to potential security threats.

SIEM solutions are often implemented by managed IT services providers (MSPs) like Founders Technology Group to monitor their client’s security. MSPs watch over client networks around the clock, looking for any signs of a threat and addressing them before they disrupt business operations.

The benefits of an SIEM

When MSPs implement SIEM for their clients, small- and medium-sized businesses stand to gain a host of benefits, including:

Enhanced cybersecurity and threat analysis

SIEM provides a more clearer understanding of network conditions. By generating detailed logs across all your assets, MSPs gain clearer insights into the specific events (e.g., the activity before and after a particular occurrence) that led to the security incidents.

Having such insights helps them differentiate between legitimate threats and false alarms, allowing them to be more familiar with the regular activities that occur within your network. This way, if any blips in an otherwise consistent data log show up, MSPs can warn you of the potential threat and address them immediately.

SIEM software that you don’t need to sort, organize, and deliver the necessary network information to your MSP for analysis. The software automatically compiles all the crucial security data, so an MSP can easily interpret and assess your company’s cybersecurity posture. This eliminates any delays caused by deciphering masses of raw data. Instead, your MSP can focus on fixing urgent problems and getting your systems back up and running in no time.

A more organized approach to cybersecurity

We’ve established that SIEM compiles all the security data in one place, allowing for easy access and analysis. However, the software also comes with various other tools for a proactive and organized approach to cybersecurity. These include:

  • Real-time insights and security alerts – These allow us as the MSP to quickly respond to potential threats. SIEM software installed on your network and devices will alert us of any new or suspicious activity, such as large downloads, multiple failed login attempts, and network performance issues. It also enables us to keep an eye on network operations and ensure it’s running optimally.
  • Log-in and network device information – This keeps you on top of any new network connections or access permissions. SIEM stores all your business passwords and other login information in a single location for easy, secure access.
  • AI-driven automation – This feature gathers the security information, providing your MSP with accurate threat data as it comes, thereby allowing them to preemptively ward off threats or solve issues faster.

Keep your business compliant

SIEM allows MSPs to regularly audit your systems and overall security. This can keep your business compliant by ensuring any threats or vulnerabilities are addressed before further damage or attacks can take place. By the time your evaluation rolls around, your business will be well prepared to pass the audit and gain compliance certification.

Furthermore, this enhanced data security not only saves you from the huge costs of a data breach, but it could also prevent expensive noncompliance penalties. For example, a penalty on anyone who violates the HIPAA (Health Insurance Portability and Accountability Act) Privacy Standards may face fines between $100 and a whopping $50,000 per violation.

Implementing SIEM is an efficient, cost-effective way of ensuring optimum cybersecurity and analysis. When you entrust your cybersecurity to Founders Technology Group, you can be assured that we’ll use the most effective SIEM solutions to keep you safe. We’ll oversee your security 24/7 and proactively defend your company against the most dangerous cyberthreats. Get in touch with us today to have a vigilant cybersecurity lookout you can trust.