What is Managed SIEM?

Managed Security Information and Event Management (SIEM) is a service where a third-party provider handles your SIEM monitoring, setup and maintenance. In short, this means they watch for threats, analyze logs, and respond to incidents. 

Managed SIEM providers responsibilities

The responsibilities of Managed SIEM providers extend beyond basic log aggregation: 

1. They generate reports for regulatory compliance, audits, and security posture tracking.
2. They aggregate security logs from multiple sources and convert them into a standardized format.
3. They enhance detection by correlating security data with global threat feeds.
4. They identify anomalies in user and system behavior to detect insider threats and credential misuse.
5. They use correlation rules and AI-driven analytics to detect complex attack patterns.
6. They trigger predefined incident response playbooks and automated mitigation steps.

Managed SIEM vs. Traditional SIEM

The complexity of SIEM platforms requires deep knowledge and continuous training. While, a global cybersecurity skills shortage makes it hard for companies to hire and retain skilled SIEM analysts. Outsourcing SIEM management addresses this challenge.

Fully Managed SIEM vs. Co-Managed SIEM

There are two main models for outsourcing SIEM: fully managed and co-managed. 

• Fully Managed SIEM. In a fully managed model, the provider handles all aspects of the SIEM infrastructure. This includes deployment, monitoring, analysis, and incident response. The client’s in-house security team has minimal involvement, allowing them to focus on other priorities.
• Co-managed SIEM. In a co-managed model, the responsibilities are shared between the provider and the client’s security team. The provider typically handles the infrastructure and maintenance, while the client’s team participates in monitoring, analysis, and incident response. This offers a more collaborative relationship.

Benefits of Managed SIEM

A primary goal of Managed SIEM services is help you achieve a higher return on investment from SIEM deployments. Managed SIEM providers deliver this through:

• Focus on Core Business. By handing off SIEM security operations, your team can concentrate on core business tasks. This increases productivity and allows them to focus on strategic initiatives rather than day-to-day security management.

• Cost Savings. Outsourcing SIEM management can reduce the need for expensive infrastructure, software licenses, and maintenance. It also minimizes the cost of hiring, training, and keeping cybersecurity staff. This can be a considerable advantage, especially for smaller organizations with limited budgets for cybersecurity.

• Faster Deployment. Managed SIEM providers have the expertise to quickly deploy and configure the SIEM solution. This means faster time-to-security for your organization. 

• Effective SIEM fine-tuning for better threats visibility. Fine-tuning SIEM can be challenging, but with Managed SIEM Services, the process is streamlined. You access  specialized security professionals with in-depth knowledge of cybersecurity. Those pros help you optimize your SIEM configurations for better threat detection, reducing false positives and improving overall security posture.

Why It’s Hard to Fine Tune SIEM

Imagine buying a state-of-the-art airplane — sleek, powerful, and packed with the latest technology. Without skilled pilots, air traffic controllers, and a maintenance crew, that plane is just an expensive machine sitting on the runway. It can’t take off, navigate storms, or ensure a safe landing.

SIEM tools without proper management work the same way. The system may collect logs and generate alerts, but without expert tuning, threat analysis, and response coordination, it won’t provide real security.

Fine-tuning a SIEM system takes skill and patience. Here’s why small adjustments can make a big difference.

• Log Source Variety. SIEM systems ingest logs from various sources, like firewalls, servers, and applications. Each source has its own format, and the data must be normalized and parsed correctly. Incorrectly configured log sources can lead to missed alerts or false positives.
• Alert Fatigue. Out-of-the-box SIEM alerts can be noisy, generating many false positives. Analysts can be overwhelmed and miss genuine threats if alerts are not properly tuned, which is why constant adjustments are needed.
• Complex Rules. Only If carefully created to detect specific threats, SIEM correlation rules can supercharge your SOC team. Developing these rules requires a deep understanding of both the SIEM platform and the threat landscape. This ongoing process requires regular updates and modifications.

A variety of SIEM tools can be used with SIEM as a managed service. These tools are designed to collect and analyze security data from different sources across your network. Compatibility often depends on the expertise of a SIEM managed security service provider and the client’s infrastructure. Some commonly used tools are Splunk, Elasticsearch,  IBM QRadar, and Microsoft Sentinel.

• Splunk. This is a popular platform known for its powerful data analytics and robust reporting capabilities. It’s often used for complex security monitoring and incident response, making it a strong choice for organizations looking for a versatile SIEM monitoring solution.

• Elasticsearch. This open-source search and analytics engine is great for handling large volumes of data, offering scalability and flexibility for organizations. Managed SIEM providers use Elasticsearch for real-time analysis of security logs and events, as well as for threat hunting.
• IBM QRadar. A widely-used SIEM solution, QRadar provides comprehensive security intelligence, including network anomaly detection and security event management. Its ability to integrate with various data sources makes it a practical choice for a SIEM managed security service provider.

• Microsoft Sentinel. As a cloud-native SIEM, Sentinel integrates smoothly with other Microsoft services, making it a good option for those already using Microsoft’s ecosystem. It offers AI-powered analytics, which can enhance threat detection and response capabilities for businesses.

Managed SIEM Best Practices

To get the most out of managed SIEM, you need a systemic and data-driven approach.

• Include Business Context. Work with your managed SIEM provider to enrich alerts with business context. For example, tagging assets by criticality or identifying applications with regulated data helps prioritize responses, which means that the team will be able to act on the most urgent incidents first.

• Integrate Identity Monitoring. Ensure that your managed SIEM incorporates user and entity behavior analytics (UEBA) to detect anomalies related to credential misuse. This helps enhance the overall security and ensure that threats are detected before they can spread through the network.

• Define Incident Response Playbooks. You can upgrade your SOC operations with automated playbooks which accelerate response times in the case of the incidents. Create detailed incident response (IR) playbooks with your provider. Clearly define escalation paths and communication protocols to ensure a smooth response during an attack. 

• Focus on Use-Case-Driven Deployment. Define clear security objectives like detecting insider threats or ransomware before deployment. This use-case approach will make sure that the SIEM rules and integrations are aligned with your priorities, helping achieve better efficiency and results.

• Own Your SIEM. Ideally, a company should own its SIEM solution while leveraging a managed provider for tuning and monitoring. This ensures better control and alignment with the organization’s security goals. SIEM consulting services can help in this aspect, giving valuable advice on best setup strategies and practices.

Factors to Consider When Choosing a Managed SIEM Provider

Choosing the right managed SIEM provider is like choosing a mechanic for your car — you want someone trustworthy and skilled. You’ll, most likely, find a perfect match if you consider the 7 important factors listed below.

• Experience and Expertise. Look for a provider with a proven track record in managing SIEM solutions for organizations similar to yours. The provider should have skilled security analysts and experts. This ensures they can properly manage and analyze security events in your particular context.

• Technology and Platform. Evaluate the SIEM technology they use. It should be compatible with your current IT infrastructure. The platform also should integrate well with your different data sources, including firewalls, intrusion detection systems, identity tools, data security options, and endpoint security solutions.

• Customization and Scalability. The solution should be customizable to your specific needs and scalable to grow with your business. A matching provider is the one able to adapt the system’s rules and policies to your requirements.
• Compliance and Regulatory Requirements. If your organization is subject to specific regulations, ensure the provider is familiar with these standards. They should help you meet compliance requirements such as HIPAA, GDPR, or PCI DSS.
• Threat Intelligence. The provider should have access to up-to-date threat intelligence. This helps them enhance the detection and response capabilities by proactively identifying emerging threats and vulnerabilities.
• Incident Response. Assess the provider’s incident response capabilities, including their ability to detect, analyze, and respond to security incidents. They should offer clear communication and support.
• Reporting and Visibility. The provider should offer comprehensive reporting capabilities. This includes real-time dashboards, alerts, and regular reports that provide insights into your security posture.
• Managed SIEM pricing, it’s important to understand the various components. Typically, pricing models can include setup fees, monthly subscription fees, and costs for additional services like threat intelligence feeds. Smaller companies might benefit from fixed-fee plans, whereas larger enterprises might opt for customized pricing based on the volume of data.

Who Needs: SIEM as a Service Use Cases

That’s simple — if you are an organization that handles sensitive data or requires constant security, it makes sense to consider a managed SIEM solution.

• Financial Institutions. Banks and financial firms handle sensitive data and need to meet strict regulatory requirements. Managed SIEM can help them continuously monitor their systems, detect fraud, and ensure compliance. This protects the business and the customers alike.
• Healthcare Providers. Hospitals and clinics need to protect patient data. Managed SIEM can help them monitor access, detect unusual behavior, and meet HIPAA requirements. The healthcare providers often deal with very sensitive data, which makes them highly susceptible to cyberattacks.
• E-commerce Businesses. Online retailers need to protect customer data and financial transactions. Managed SIEM can help them detect and prevent fraud, ensuring their business continues to run smoothly without interruptions due to cyber incidents.
• Government Agencies. Government agencies handle sensitive information and need to maintain robust security. Managed SIEM can help them detect cyber threats, protect critical infrastructure, and meet regulatory requirements. These organizations often have high value targets and should utilize advanced security systems to protect their assets.

Managed SIEM Challenges (How to Overcome)

Managed SIEM is not without potential challenges. However, reliable managed SIEM service addresses them.