The new "true unlimited data plan" for LogRhythm's NextGen SIEM allows organisations to keep up with the pace of cyberthreats, CTO Chris Petersen told iTWire.
Even though 2019 is shaping up to be a record year for data breaches, organisations using security tools with consumption-based pricing may not be able to afford to store all the security-related information they generate: "the volume of data has always been an industry challenge," he said.
And even when an organisation does understand consumption-based pricing, operational changes (eg, additional infrastructure elements) can push the total cost above an acceptable level, so it stops collecting all the available data and ends up with blind spots.
According to Petersen, the new plan suits medium to large enterprises that "are really trying to establish a more mature security operations centre or security operations capability," and realise that all of their infrastructure is important.
The company is investigating how a similar model could be applied to pricing for its managed security service provider partners.
The new plan does not carry a set price. Instead, customers are charged according to the number of employees. However, the price does not change during the term of the agreement, regardless of how much the organisation grows. The minimum term is three years, but longer periods can be negotiated.
APAC sales director Simon Howe said “We’re now giving Australian enterprises the opportunity to get on with running their businesses rather than having to worry about price fluctuations and capacity during the annual business cycle.
"CISOs can now enjoy the benefits of consistent pricing, total security and flexibility through an unlimited data model. This will be of particular interest to companies as they continue their digital transformation journey and with public sector departments increasingly charged with service transformation.”
NextGen SIEM is still available on consumption-based pricing.
LogRhythm customers in Australia include Australian Super, Super Retail Group, Goulburn Murray Water and several Federal Government departments.