Can you outsource the risk? Five questions to ask a managed SIEM or SOC vendor.

Given the acute shortage of security skills, managed solutions like SIEM-as-a-Service and SOC-as-a-Service such as SIEMphonic have become more widely adopted. It has proven to be an excellent way to leverage outside expertise and reduce cost, which is a challenge for companies globally. Seem too good to be true? It is and it isn’t. Regardless of how much responsibility you delegate, accountability lays firmly on the shoulders of the organization doing the delegating. What this means is that when you consider co-sourcing a critical function like security monitoring, it’s important to perform a vendor risk assessment. After all, if your vendor has a problem, then you have a problem. Their risk becomes your risk. So, what should a responsible CIO be doing? Frankly, the best time to enforce security at a service provider is before you sign the contract. Ask these questions:
  1. How seriously does the provider take security?
  2. What industry standard practices do they follow?
  3. How do they vet their staff?
  4. Are the data centers properly redundant and physically secure?
  5. Are the regularly audited by a competent external authority?
Some buyers who have a dim view of their internal commitment to the various forms of risk automatically consider that any firm that provides services for a living must inevitably have better processes and procedures than they themselves do. Careful, now. Proceed with caution – assumptions are risky too. As part of our ongoing commitment to managing risk, our SIEMphonic solutions were certified as ISO27001 compliant. We regularly audit and review our own performance and share the results with our customers every month to solicit feedback. As you think about enjoying the benefits of co-sourcing, remember: Risk cannot be outsourced.