Nobody questions the importance of a security information and event management (SIEM) solution any longer. Organizations of all sizes have recognized that they cannot compromise on the unparalleled network visibility and automated functional capabilities of SIEM.  

The question plaguing business executives now is: “Which SIEM solution suits our needs better? Should we go with a managed SIEM or an on-premises SIEM?”

With several SIEM providers in the market, making a deployment choice can be difficult. You need a clear understanding of what to look for in a SIEM solution. Comparing a managed SIEM with an on-premises SIEM solution will clarify which deployment strategy better serves your needs.  

Managed SIEM

Let’s start with understanding the ins and outs of a managed SIEM solution.  

What is Managed SIEM?

Managed SIEM is a service where third-party vendors host a SIEM solution on their servers. The SIEM providers undertake round-the-clock monitoring and data aggregation across your network. In addition, the SIEM provider is responsible for application updating, maintenance, and responding to all alerts.

Secure Your organisation from Cyberattacks with Managed SIEM

Managed SIEM providers include highly skilled engineers and threat investigators. They are equipped with all the necessary resources to respond instantly to security incidents. Working with a SIEM provider gives you 24/7 support and the option of a turnkey SIEM solution tailored for your organization’s processes and objectives.

Suggested Reading: A Guide to SIEM(Security Information and Event Management) Security

Advantages of Managed SIEM:

1. Minimized Costs

With Managed SIEM services, you don’t need to worry about additional costs such as purchasing software, license, and infrastructure. You don’t have to worry about installation costs either. Additionally, you save the cost of hiring, training, and retaining skilled SIEM professionals. Managed SIEM providers to eliminate these costs.

2. Rapid Deployment

Managed SIEM providers to ensure that your security solution hits the ground running. With all the necessary infrastructure on hand, cloud-based deployment is complete in a matter of hours.

3. Access to Skilled Professionals

The cybersecurity skills gap is more expansive than ever in 2022. Hiring expert cybersecurity analysts and engineers are deemed impossible for many small and medium enterprises because of the competitive environment and resource shortage. Managed SIEM providers solve this challenge. They come with experts who will create rules and policies, analyze log data, and help you investigate alerts.

4. Instant Scalability

Growing businesses have dynamic networks and security processes. Managed SIEM providers offer scalable solutions which accommodate your growing network at minimal additional cost. You don’t have to worry about installing additional technology or obtaining more resources to keep up with changing needs.

5. Easy Customization

A managed SIEM provider facilitates quick and easy solution customization. A qualified SIEM provider works closely with a business to understand its needs and create a tailored solution. Customization includes a custom dashboard, alarm building, and reporting.

Drawbacks of Managed SIEM:

It’s impossible to find a perfect solution. Any deployment technique will have minor drawbacks. You need to assess the best way to mitigate these drawbacks and leverage the full power of the managed solution.  

1. Data stored on third-party servers

Data management is always a sensitive area. While many consider offsite data storage risky, it is a small and manageable risk. You should perform due diligence on the managed SIEM provider’s data center, their security procedures, and how often security is updated.

2. Data access

When an outsourced vendor has access to your data, it is natural to worry about access control. You must thoroughly vet your managed SIEM provider and ensure they have a solid industry reputation.

Suggested Reading: EDR vs SIEM: Which Threat Detection Tools Do You Need?

On-Premises SIEM

With a SIEM solution installed on-premises, you will have complete ownership and total control of the SIEM solution. Many organizations are tempted by this approach, as the idea of unhindered access and zero third-party interference is attractive in theory. But in practical situations, on-premises SIEM deployment comes with significant challenges.

On-premises SIEM deployment poses challenges on three fronts:

1. Time

Does your team have the capacity to manage, maintain, and monitor an elaborate SIEM solution? It calls for round-the-clock monitoring, real-time review of complex logs, and determining false positives from alerts that need action. These are highly time-intensive and time-sensitive tasks that must be fulfilled alongside daily operations.

2. Money

On-premises SIEM solutions have a prohibitively high price tag. The cost of licensing, hardware, and installation amount to a massive initial capital investment. The operating costs involved are significant as well. You will need to hire additional IT experts to manage the solution, and cybersecurity professionals don’t come cheap.

3. Expertise

SIEM is not a solution you can install and forget about. It is a sophisticated technology that requires an expert touch to operate. Do you have capable professionals who can fine-tune the SIEM solution according to your organizational needs?

For the longest time, SIEM solutions were inaccessible to small and medium enterprises because of these same challenges. With the advent of managed SIEM providers and the “as-a-service” model, SMEs can obtain this critical security technology.

Is Managed SIEM The Way to Go?

Choosing the ideal deployment strategy depends upon various factors. You must compare the models for cost-efficiency, ease of use, deployment, and scalability. How important is control and ownership for you? Do you value scale and functionality more? The answer to these questions will determine your deployment choice. 

ACE Managed SIEM provides real-time security alerts and in-depth network visibility with a state-of-the-art dashboard. Your environment is protected with 24/7 monitoring and AI-powered forensic analysis. Want to explore how ACE Managed SIEM optimizes your organization’s security posture? Book a Free Security Consultation Today!

Chat With A Solutions Consultant