Hundreds and even
thousands of security events can flood your network every hour of every day.
Your team may have a significant challenge of sifting through these events to
identify the threats that could pose a risk of compromise.
Continuous or 24×7 cybersecurity monitoring
through an experienced security services provider can drastically improve your
threat alerts and help you spend more time on your security strategies. Here
are five solid reasons you should consider 24×7 cybersecurity monitoring in
the year ahead.
The Cybersecurity
Landscape Has Changed Drastically
Organizations face a troubling threat
landscape like never before. Global cybercrime is predicted to reach more than
$2.1 trillion in 2019. You hear about new massive data breaches almost monthly.
The top enterprise organizations are having a tough time keeping up with the
influx of threats hitting their security teams every day.
Small and mid-size businesses are not exempt
either. In fact, SMBs are the next target for cybercriminals as enterprise
organizations direct more investment into cybersecurity defenses. Both
enterprise and SMBs are facing an onslaught of challenges not to mention a lack
of internal resources and a market for skilled cybersecurity professionals to
manage everything.
Having a security partner that can monitor
your environment on a 24x7x365 basis is where the market is headed. Gartner
predicts that security outsourcing will be a major cybersecurity investment
category in the years ahead.
Stringent
Compliance & Regulatory Requirements
This year, security leaders are focused on
addressing new compliance and regulatory requirements that could cost them
millions in fines and penalties for non-compliance. The General Data Protection
Regulation (GDPR) is among the first and most pressing new global regulation
efforts to affect multinational organizations and businesses processing EU
subject data. Not to mention, the United States is currently working on a new bill
called the Data Security and Breach Notification Act. A first-ever Federal
regulation that will penalize companies that are hacked.
Nearly every country is now taking consumer
data privacy and protection more seriously by introducing new legislation to
hold organizations accountable. It becomes critically important that your
company takes measures to reduce data compromise and put in the security
controls to safeguard consumer data. That’s why continuous network and security
monitoring from an experienced provider is the preferred choice for many organizations.
Minimize Data
Breaches
A team of experts that review security events
and logs on a 24×7 basis can help you improve your Mean-Time-to-Detect (MTTD).
The average MTTD, according to the 2017 Ponemon Cost of Data Breach Study, for
a survey of 491 companies was 191 days with a range of 24 to 546 days. Imagine
a hacker within your environment in that time frame. How much damage do you
think one hacker or many could do during that time? Once a threat actor enters
your environment, they can wreak havoc on systems and endpoints and eventually
steal your data or hold your data at ransom.
In the same Ponemon report, hackers and
criminal insiders were the cause of most data breaches. Companies in the U.S.
and Canada also spends the highest amount per record at $224 and $201 per record
on resolving a data breach. In the recent Equifax data breach with over 140 million records exposed, the company most likely saw a cost of more than $32
billion to resolve the issue. Not only did the company experience a financial
loss because of the breach but also a negative brand and shareholder
reputation.
Improve Your
Mean-Time-To-Respond
The core metric for many security teams to
measure their effectiveness is in Mean-Time-Detect and Mean-Time-To-Respond.
Once your security team identifies or detects a threat and creates an alert, it
then becomes a matter of how much time is spent on containing and remediating
the threat. The MTTR in the Ponemon Cost of Data Breaches report found that the
average for organizations was 66 days with a range of 10 to 164 days.
Some organizations have millions of dollars
invested in firewalls, antivirus, endpoint security, and more but these
technologies can generate thousands of alerts per day. This can cause your IT
or security team to suffer alert fatigue. With 24×7 cybersecurity monitoring,
your organization can greatly improve your MTTD and MTTR with the right alerts.
A team of security analysts at a managed security services provider can
leverage Artificial Intelligence (AI), automation, and orchestration to improve
alerts and identify the events that matter.
Knowing Who Your
Adversaries Are With Threat Intelligence
Data breaches that go on for months are a
result of poor detection and response capabilities. Cyber-attacks and breaches
can happen to anyone which brings the need for around-the-clock awareness of
your security environment. If you know exactly what’s happening and can sift
through the noise of all your devices, you can start to make sense of what’s
really happening.
Continuous monitoring paired with threat
intelligence feeds can take your security detection and response capabilities
to the next level. Threat intelligence in conjunction with 24×7 monitoring
enables you to know exactly who your threat actors are, how they operate, and
how likely they are to hack your organization.
Identifying threats as soon as possible is key
in today’s threat landscape. As we saw above, threats often go undetected
and can result in serious fines or a damaged brand and shareholder reputation.
A 24×7 cybersecurity monitoring service helps you overcome significant
challenges in your network security. A highly certified security provider can
become an extension of your team and help you offload the tedious task of
filtering through hundreds and even thousands of alerts.
I have spent my career providing consumers and business owners with advice and guidance to help them navigate the world of finance.
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As a senior finance writer, I report on all aspects of finance from managing cash flow to choosing the best accounting software.
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