Cybersecurity for compliance: Top 5 reasons you may need a Security Information and Event Management (SIEM) system

A security auditor may have recommended, or even insisted (in case of compliance requirements), that you have a Security Information and Event Management (SIEM) system in place.

Your first question might be, “What is that?” followed closely by, “It costs how much?” followed right after that by, “That’s a lot of money. Do I really need that?” Let us try to answer these questions for you. 

Question 1: What is a SIEM?

SIEM (pronounced “see-em”) software collects real-time information from networks, workstations, servers, applications, and internet activity. This information is then analyzed and correlated to events that could lead to or be caused by a potential security threat.

The software provides log auditing and review, produces alerts and reports, and can handle a security event with real-time threat analysis, visualization, service ticketing, and integrates into your incident response work flow.

Question 2: It costs how much?

Yup, SIEMs can cost quite a bit. They vary in cost and contract terms, so make sure you have someone that knows about both your organization’s needs and the available systems when researching your options.

At IT Direct, our virtual Chief Information Officers (vCIOs) are knowledgeable about these security systems. They take time to get to know your specific needs and can help to guide the entire process of choosing the right system for your organization.

Question 3: Do I really need that? To help answer that, here are 5 important reasons that your organization might need to have this kind of system:

1. The threats – The most important part of the picture is the level of cybersecurity threats that companies are currently facing. SIEM systems collect and analyze vast amounts of information that substantially increase immediate threat detection and offer automation and threat handling that other systems cannot.
2. Compliance – Many companies maintain logging and event management systems along with extensive documentation and reporting as part of their compliance management program. SIEM software meets the requirements of SOX, PCI, FISMA, NIST, and HIPAA.
3. Certifications – SIEM systems can help you earn or maintain some ISO certifications.
4. Accountability – Increased accountability to and oversight by boards of directors, shareholders, auditors, etc. make this system worth the cost.
5. Forensics – It’s only a matter of time until threats turn into a breach. Even with the highest level of protection and detection, cybercriminals are professionals that remain focused and increasingly creative. The ability to find out what happened, in order to maintain transparency and prepare for the future, is invaluable.

If you find that your organization is in need of, or even considering, an SIEM. Feel free to reach out to see what IT Direct can do to help.