SMB Benefits of Managed SIEM
Small businesses are not immune to advanced security threats. Even the most secure companies fend off attackers regularly, and unfortunately, many of them are unsuccessful, leaving companies with an urgent need for SIEM technology.
In 2019 alone, major companies like Dunkin’ Donuts and BlackRock Inc. experienced significant data breaches leaking sensitive information. In 2018, the attacks were even worse, affecting over 700 million people. Security spending forecasts for this year expect to exceed $124 billion. With that in mind, security systems with formidable protections are in high demand.
Choosing the right security measures for your business is pivotal to its success, and managed SIEM services offer significant benefits to SMB owners when compared to SOC and NOC.
What is SIEM?
Security Information and Event Management (SIEM) is an IT and cyber-security system for businesses of all sizes. It fully protects a company’s essential data, network, and manages security alerts to provide its users with an in-depth look of everything going on in their system. When established correctly, it will also alert them if anything suspicious happens so the security team can react in real-time. SIEM software can be operated in-house but is often outsourced to a managed security services provider (MSSP).
What is SOC?
Security Operations Center (SOC) refers to a facility or team of security specialists who work around the clock to protect against cybersecurity threats. SOC operations track, prevent, and identify attacks while meeting standard compliance stipulations. There are several SOC models used to provide security services such as Virtual SOC, Dedicated SOC, and Command SOC.
What is NOC?
A Network Operations Center (NOC) is a centralized location where security experts provide support for remote monitoring and management software (RMM). Like a SOC, a NOC focuses on the accessibility and performance of the network software, rather than issues affecting security and information. NOC’s aim to eliminate the downtime of security threats so that companies can run efficiently.
What are the Pros and Cons of Each One?
It’s important to remember that each security option isn’t the wrong choice for your SMB. Instead, it’s better to consider your security needs and select a system that follows suit. If you’re having a hard time deciding which is best, then here are a few pros and cons to consider about each one:
SIEM for small businesses is a one-stop tool with advanced machine learning capabilities and behavioral analytics. Its sophistication allows for autonomous deployment without SOC or NOC oversight. SMBs with limited resources can take advantage of its services since security measures rely on one person with the help of pre-loaded alert measures. Many companies also have the luxury of allowing their SIEM solution to be entirely managed by a provider, which eliminates any worries about security and network safety during their daily operations. SIEM tools are also affordable for SMBs when compared to hiring a dedicated SOC to manage the platform.
The negative side to SIEM software is that large amounts of data are being processed without the human touch of managing it. SIEM may not identify something as a threat, or worse yet, the software may be set up incorrectly to a point where false alerts are being triggered, and real threats are damaging a network without anyone’s knowledge due to high volume alerts and leaving your team slightly unprotected. Altogether, the problems surrounding SIEM for any business involve volume and awareness.
Concerning the pitfalls of a managed SIEM, the main benefits of a SOC are the manpower and level of expertise offered 24/7. IT analysts are combing through mountains of data to ensure the best possible security. Often, a SOC implements its SIEM tools for a business to increase its security measures and provide accurate Mean-Time-To-Detect (MTTD) and Mean-Time-To-Respond (MTTR) protocols.
Collectively, SOC management is a sound choice to prevent security attacks, although the price tag associated with them are often too high for an SMB to afford. Not only are you buying SIEM software, but you’re investing in multiple employees, training periods and general maintenance. In addition, utilizing a SOC solution can make your network more vulnerable, especially with the use of dated software.
A NOC provides excellent protection of network security to streamline day-to-day operations. Different than a SOC, the significant upside to this option is activity monitoring that flags any inconsistencies. They also send alerts to a business or managed security service provider (MSSP).
Unfortunately, the very reason that makes a NOC useful is the same reason why they can be a poor decision for SMBs. Overseeing the integrity of network operations doesn’t ward off any threats or prevent attacks. If reliable network service is the primary key to your SMB’s success, then a NOC can offer protection. However, they won’t be able to solve deeper issues like SOC or SIEM tools.
Overall, choosing a security provider on an SMB budget is no easy task. All options on their own can seem incredibly pricey for an SMB. This, however, is not always the case so before you decide which plan is right for you, let’s review the realistic pricing of each solution.
What Price Ranges Can I Expect?
Price ranges for each of these security options depend on the size and needs of your SMB.
In-house SIEM services for a small business can range anywhere from $50,000 and above. This includes initial hardware costs, infrastructure, software, and annual support.
SOC options with dedicated team members and 24/7 monitoring can exceed $1 million for a basic package. This is due to employee salaries, advanced equipment, and software as well as support efforts.
NOC services are subject to the same requirements as a SOC, meaning that total costs can reach over $1 million. NOC services have outsourcing options for as low as $1,000 a month, but the protection services aim toward network productivity, not data protection and overall security.
Outsource Your SIEM Tools with Trapp Technology
Setting up any of these services on your own can become a real hassle, but managed SIEM tools can be an affordable choice that covers all of your security needs.
ArmorPoint is an MSSP that can safely and cost-effectively outsource you managed IT and security requirements. Plus, SIEM services become more affordable with reduced costs through OpEx pricing models, meaning your SMB can focus its resources on scaling profits, rather than pinpointing threats. The ArmorPoint 360 SIEM plan starts with a 30-day free trial, followed by month-to-month payments of $1,500 without a contract. Outsourcing with ArmorPoint also provides you with expertly managed security initiatives, 24/7 support and free up your existing IT teams with more time for other projects.
The SMB benefits of managed SIEM far outweigh the drawbacks. Contact ArmorPoint today and learn more about what their services can do for you.
ArmorPoint is a security information and event management solution that provides a cost-effective and reliable way to continually protect your business from emerging threats. Through its customizable service pricing model, ArmorPoint’s cost-effective packages and dynamic levels of expert management support the security strategies of all companies, regardless of available budget, talent, or time. And since ArmorPoint offers 24/7 security support with a team of dedicated specialists, they can provide you with the manpower you need to expertly manage all of your cybersecurity initiatives. See how ArmorPoint can make a difference in your security posture with a risk-free 30 day free trial.