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What Does SIEM Stand for?

6 January 2023

SIEM (Security Information and Event Management) is one of many approaches to security management.

As a result of cybersecurity attacks, organisations find identifying, prioritising, and action against malicious threats more challenging than ever.

SIEM combines SIM (Security Information Management) and SEM (Security Event Management) to aggregate data from a variety of sources as well as identify any deviations and act against them.  

SIEM is important as it works as a counterpoint fighting against threats. 

Sapphire Cyber Security - siem systems for event data

What is SIEM?  

SIEM (Security Incident and Event Management) identifies, monitors, records, and analyses an organisation’s cybersecurity events in real-time.

SIEM helps organisations have a centralised and comprehensive view of the security of their IT infrastructure.  

This means that SIEM is the perfect solution for consolidating large volumes of threat data, helping filter information, and prioritising security alerts, making security more manageable.  

TSIEM compliance regulations are:  

  • ISO27001  
  • HIPAA  
  • PCI  
  • DSS  
  • SOX  
  • GDPR  
Sapphire Cyber Security- security information and event management

How does SIEM work?  

SIEM collects data from an organisation’s applications, security devices and host systems and brings it all together into one centralised platform.

A SIEM system gathers data from antivirus events, firewall logs and other locations and sorts it into neat categories. This helps a system to identify any threats via network security monitoring.  

If a threat is identified, the system creates an alert and defines the attack’s threat level based on predetermined rules.

A SIEM system can be customised.

The SIEM system also helps improve efficiency when investigating potential cyber threats, thus saving time on potentially wasted on false positives.  

Security Intelligence suggests that:  

‘SIEMs (Security Information & Event Management) (Security Information & Event Management) help security operations centre (SOC) security analysts achieve four critical objectives: (1) gain visibility into their environments, (2) detect threats, (3) investigate abnormal activity and (4) escalate security alerts for a swift response to SOAR tools.’  

Sapphire Cyber Security - security alerts generated using event management siem

What are SIEM Capabilities and Applications?  

SIEM has a broad range of capabilities that offer comprehensive protection for organisations.

SIEM software allows organisations’ security teams to gain insights into malicious attackers such as tactics, techniques, and procedures (also known as TTP) and indicators of compromise (IOCs).  

Some of the key features of SIEM solutions are:  

  1. Data consolidation/ Data aggregation  
  2. Data consolidation/ Data aggregation  
  3. Managing log security events and data in real-time  
  4. Categorising security events and data by threat severity  
  5. Using threat intelligence to determine actions on potential threats  
  6. Automated security event alerts  
  7. Event correlation to indicate specific incidents  

SIEM also provides in-depth reporting and supports compliance.

This helps organisations to simplify compliance reporting and organise event information for many industrial and governmental regulatory requirements.  

Security Intelligence suggests that: 

‘When it comes to minimizing the impact of a security incident, time is of the essence. It can take an average of 207 days to identify and 73 days to contain a breach, according to the Cost of a Data Breach Report 2020. The research shows containing a breach in less than 200 days saved $1 million on average compared to those who took more than 200 days. 

All of that is to say, the faster a threat is identified, the better, and that is where a SIEM comes into play. A SIEM can reduce the time to identify, investigate and respond to security-related incidents, and mitigate the business impact of a data breach.’ 

Sapphire Cyber Security- security events with siem solutions

What are the Best Practices for a Successful SIEM Implementation?  

To get the most out of a solution, organisations must ensure that they are using the best practices below:  

Establish Scope and Requirements  

SIEM has a customisable approach.

This means that organisations get a clear understanding of what log and event data they need to monitor and whether data required hosting/managing on-premises.

Not only will this help organisations save time on threat monitoring but it will also give them a clear view of compliance and regulation requirements – saving time in the long term.  

Customise Correlation Rules  

As touched on above, SIEM’s core value stems from event correlation.

Event correlation will help you understand and prioritise security events that may otherwise go unnoticed.

Although most SIEM solutions come with a set of in-built rules, you should customise these rules for your organisations requirements.  

Incident Response Plan  

Having an efficient incident response plan helps organisations provide guidelines and steps for security teams in a cyber-attack.

This service is supported by the solution’s real-time monitoring and enterprise security alerts.

Continuously Update SIEM System  

Updating and configuring an organisation’s solution is necessary to stay ahead of the curve for malicious attackers and new evolving threats.  

Why SIEM as a Service?  

Sapphire has over 25 years of experience, our team of experienced cybersecurity analysts work with an outstanding best-in-class SIEM to deliver a managed service. Helping organisations cut through vast datasets and focus on necessary activities, Sapphire’s managed service reduces dwell time working to improve security incident response time.  

Sapphire combines SIEM tools and security monitoring with our security operations centre’s (SOC) advanced threat detection capabilities and threat intelligence feeds to help organisations: 

  • Reduce dwell time 
  • Improve Mean Time to Detect (MTTD)  
  • Reduce their Mean Time to Respond (MTTR) 

Sapphire’s managed SIEM services provide:  

  1. Vigilance: Helping organisations to identify and prioritise security threats more effectively. This provides an efficient application of security resources and a continual reduction in detection time.  
  2. Response: Sapphire’s managed service improved remediation and incident response times. This reduces exposure from reconnaissance, lateral movement on the network and data exfiltration. This helps organisations save time and allocate resources appropriately.  
  3. Management: Sapphire’s 24×7 incident response managed solution is handled by an experienced team. This service enables you to focus on company strategy and not the the management of systems.  

For more information about Sapphire’s managed services, please get in touch with us

Frequently Asked Questions on What SIEM Stands For?

1. What are the Benefits of SIEM?

No matter the size of your organisation, it’s necessary to take proactive measures to monitor and reduce IT security risks. An organisation can gain from SIEM systems in several ways, and they have also become integral to optimising security procedures. Benefits include the following:

a). Advanced Real-Time Threat Recognition

As the organisation expands, SIEM active monitoring solutions for your whole infrastructure help boost security posture by reducing the time it takes to detect and respond to potential network attacks and vulnerabilities.

b). Regulatory Compliance Auditing

Organisations that are within regulatory industries must be compliant to respective security standards and are required to show that they protect and monitor the security of their systems and data. Monitoring with SIEM solutions, allows an organisation’s entire business infrastructure to be audited and reported upon for compliance.

 

In addition, system logs and security events are collected and analysed more efficiently thanks to advanced automation, which also helps to adhere to tight compliance reporting requirements while using fewer internal resources.

Compliance auditing and reporting is a crucial yet difficult task for many organisations. SIEM solutions significantly cut the resource expenditures necessary to manage this process by offering real-time audits and on-demand regulatory compliance reporting whenever necessary.

c). Improved Organizational Efficiency

A SIEM solution can be a crucial factor in increasing interdepartmental efficiencies because of the improved visibility of IT infrastructures it offers. Security and IT teams may communicate and work together effectively when responding to security incidents and perceived events with a unified view of the system security data and an integrated Security Orchestration, and Response (SOAR).

d). AI-driven automation

As IT teams manage enterprise security, next-generation SIEM systems connect with powerful Automation, SOAR capabilities to save time and resources.

These technologies can handle sophisticated threat identification and incident response protocols in a substantial amount less time than physical teams because they use machine learning that automatically adjusts to network behaviour.

e). Detecting the Advanced and Known Threats

Organisations must be able to depend on solutions that can identify and address both known and unidentified security threats, given how quickly the cybersecurity landscape changes. Using AI technology and integrated threat intelligence feeds, SIEM solutions can successfully guard against recent security breaches like:

  • Phishing attackers
  • SQL injections
  • Insider threats
  • DDoS attacks
  • Data exfiltration

f). Monitoring Users and Applications

Organisations need enough visibility to manage network risks outside the traditional network perimeter as SaaS apps, remote workforces, and BYOD (Bring Your Own Device) policies gain more popularity.

SIEM systems help monitor all network activity across all users, devices, and apps, vastly improving infrastructure transparency and spotting dangers no matter where digital assets and services are being accessed.

g). Conducting Forensic Investigations

SIEM systems are excellent for performing digital forensic inquiries when a security incident happens. In addition, with SIEM systems, businesses can quickly gather and organise all their digital assets’ log data in one location.

To investigate suspicious activities and put more efficient security procedures in place, they can use this to reproduce past security incidents or evaluate brand-new ones.

2. What should Organisations Look for in SIEM Tools?

Choosing the right SIEM solutions depends on several factors, including the organisation’s security posture and budget. However, organisations should look for SIEM tools with the following capabilities:

  • Internal and external threat detection
  • Compliance reporting
  • Database and server access monitoring
  • User activity monitoring capabilities
  • Real-time threat monitoring, correlation, and analysis across various systems and applications
  • Threat intelligence
  • An intrusion detection system (IDS), event application log, IPS, firewall, and other system and application integrations

3. What Does the Future Look like for SIEM?

As cognitive capabilities improve the system’s decision-making capabilities, AI will play a bigger role in SIEM. Additionally, it will enable systems to expand and adapt as the number of endpoints rises.

A SIEM tool must consume more data due to IoT, cloud, mobile, and other technologies. AI can offer a solution that supports more data types and deeply understands the threat landscape as it changes.

In addition, the future trends of SIEM solutions will include the following:

a). Better collaboration with managed detection and response tools

Organisations should use a two-tier strategy to identify and assess security threats as hacking, and unauthorised access risks keep growing. A managed service provider (MSP) can implement the MDR tool, whereas an organisation’s internal IT team can implement SIEM.

b). Enhanced cloud management

SIEM providers will enhance their systems’ cloud management and monitoring capabilities to better serve the security requirements of businesses using the cloud.

c). Improved orchestration/ SIEM and SOAR evolving into one tool

Expect traditional SIEM products to adopt SOAR’s advantages, but SOAR companies will probably respond by enhancing their capabilities.

Currently, SIEM only offers basic workflow automation to businesses. However, SIEM will need to provide more features as businesses expand.

For instance, SIEM systems will need faster orchestration to give the various departments inside a firm the same level of protection due to the rising commercialisation of AI and machine learning. Additionally, security protocols will be executed more quickly, effectively, and efficiently.

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