A Forrester Wave report recently identified security analytics as a fast growing market, led by LogRhythm, IBM, Splunk and RSA. It seems that security and risk professionals are trusting security analytics providers to solve problems and operate as strategic partners with an eye to improving threat detection, the report suggested.
The thinking is that adding user behavior and endpoint analytics into the security mix not only improves detection but also hastens response and remediation. Indeed, an indicator of the market's potential is that traditional security information management (SiM) vendors have expanded their data sources and integrations as they incorporate advanced detection technologies, Forrester said.
Enter a new deal between Deloitte’s Canada wing and LogRhythm in an arrangement that appears to add heft to the consultant’s recently opened managed threat service and capitalize on an emerging market space. With it Deloitte gains access to LogRhythm’s Threat Lifecycle Management (TLM) technology to back its managed security services platform and its cyber security offerings. In turn, LogRhythm lands a big fish in security consulting.
Faster Cybersecurity Insights
The consultant noted LogRhythm’s “unique TLM technology” as a key factor in the deal, which essentially means that Deloitte can show customers technology to reduce the mean-time-to-detect and mean-time-to-respond to cyber threats. Deloitte said as much, offering that it intends to leverage LogRhythm’s TLM technology in security information and event management and security operation center build-out engagements.
Should Deloitte want to be more specific with customers, it can point out that LogRhythm’s platform ties together next-generation SIEM, log management, network and endpoint monitoring, user entity and behavior analytics, security automation and orchestration and advanced security analytics. And just for good measure, it also covers compliance automation and assurance, and enhanced IT intelligence.
So far, so good, with one possible caveat--will customers buy in? Again, Forrester’s data in the Wave report may present a substantial marker here.
Last year, the researcher surveyed 579 network security decision makers at companies of at least 1,000 employees on security information management and security analytics adoption. Fully 81 percent said they are implementing or expanding implementation, or planning to implement the technology in the next 12 months.
Expanded Managed Security Services
The LogRhythm pact likely isn’t a one-off for Deloitte Canada but rather another step in advancing its forming managed security practice.
Last August, Deloitte acquired Integrity-Paahi Solutions Inc., a Vancouver services security provider, recently touted by researcher IDC as a major player in the managed security services market in Canada. The Vancouver IPS location will serve as Deloitte’s fourth managed security operations center, expanding the consultant's reach beyond its existing Calgary, Toronto and Montreal facilities to Western Canada.