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What You Need To Know About SIEM Pricing & SIEM Costs

What You Need To Know About SIEM Pricing & SIEM Costs

If you’ve kept up with the latest tech news, you are undoubtedly aware of the threat posed by hackers and cyber-criminals. Even though cybersecurity professionals are constantly trying to find ways of stopping these troublesome individuals, there is no way to completely eliminate the threat that they represent. It would be like trying to get rid of theft, war, or abuse. No one likes these realities, but we have to deal with them nevertheless. For that reason, some companies choose a high-security network service called SIEM (Security Information and Event Management)

What Is SIEM?

SIEM is a cybersecurity approach that aims at stopping cyber-attacks before they have a chance to do significant damage. While this is certainly an ambitious goal, it is a realistic one. Hackers have developed all sorts of ways to hide their activities, but it’s nearly impossible for them to avoid leaving some telltale sign of their presence. Unless you are dealing with a government-level hacker from an intelligence agency, there will be some discernible trace of their attack method.

SIEM works by collecting all that data and analyzing its contents. This data includes log files, network packets, files cached in temporary memory, and many other sources. In the past, cybersecurity technicians would have to sort through all that data manually. With a SIEM solution, those files will be collected in one place.

Not only will all those informative files be kept in the same place, but they will also be analyzed using sophisticated AI technology. An AI doesn’t have the same discretion that a human can employ, but it can certainly recognize suspicious patterns when it is programmed to do so. Through the use of machine learning, AI can even improve and learn to get better at recognizing those patterns.

How To Employ SIEM

To make use of this versatile and effective technology, you have one of two options. First, you can just purchase the SIEM software and use it yourself. For business owners, this will usually mean letting the IT team handle the software. However, there are several problems with this approach. First of all, you will have to pay a dedicated employee to sit and monitor that data 24 hours a day. You never know when an attack might occur, so this monitoring must be carried out on a near-constant basis. Secondly, it requires a person with sufficient expertise to interpret the data quickly and accurately.

Alternatively, you can purchase SIEM as a service from a third-party IT service provider. Many companies find that this approach is a lot easier and that the service pays for itself by offering both greater security and greater convenience. Some companies also go for a hybrid approach, creating two “layers” of threat awareness.

SIEM Pricing And Costs

It is impossible for us to give you an exact estimate of managed SIEM pricing because the rates will vary according to your choices. You can work with your SIEM provider and set up a service plan that gives you what you need and nothing else, allowing you to trim costs down to the essentials when necessary. And so, as you read the numbers below, bear in mind that these are average annual costs.

  • Software Costs: $50,000
  • Deployment Consulting (one-time fee): $50,000-$100,000
  • Training Costs: $0-$10,000
  • Database Administrator Salary: $74,000
  • Admin Personnel Salaries: $74,000-$500,000
  • Hardware Costs: $25,000-$75,000
  • Intelligence Feeds: $1500-$10,000
  • Infrastructure Costs: $10,000

This should give you a pretty good idea of how your bill will break down. Note that many of these costs are variable, and there are good reasons for that fact. You can decide just how much security you need and adjust your services accordingly. Naturally, you can get below these costs if you go for the cheapest possible options, but we wouldn’t recommend that for most companies.

Explaining The Costs

Let’s break down the SIEM cost one item at a time so that you can understand each one. First of all, we have the hardware and software costs, which are self-explanatory. SIEM requires both specialized hardware and specialized software, and none of that is going to be cheap. When you meet with your SIEM provider to create a service plan, there will be a one-time “deployment consulting fee” to consider. This is the only item on our list that is not an annual cost.

Training costs are very difficult to estimate because you don’t necessarily need to pay for them. If you are going to put the management of the SIEM software completely in the hands of a third-party provider, you won’t need to pay for any of your employees to be trained on that software. However, if you do want your IT people to use this software, they must be properly educated first.

Like any network or network service, SIEM requires administrators. If you are talking about a very large operation, the admin (or admins) might require support personnel, and they also have to be paid. Many companies will also charge extra for intelligence feeds, as they require extra labor to produce. However, the most basic types of intelligence feeds should be free. Finally, we have infrastructure costs, which include things like servers, routers, and data storage.

Conclusion

SIEM as a service pricing will vary a lot, but it is possible to get a ballpark idea of how much you will need to spend. Of course, it is very important to find the right company, or else you are likely to pay more than necessary. If your company is in need of SIEM services or any other IT-related services, you can call PCH Technologies at (856) 754-7500.

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