The High Cost of Downtime and How to Reduce ItSplunk Product Innovation: Powering the SOC of the FutureSplunk + Cisco Announce Expanded Partnership Program
At ChannelE2E, we understand how important cybersecurity is for managed service providers, so every week we bring you the top security news stories compiled by our companion site, MSSP Alert .
This week seems to be the Splunk acquisition of the week, as MSSP Alert recently traveled to the Splunk User and Global Partner Summit to glean news about the cybersecurity and observability provider’s technology, channel partner program, and ongoing integration with acquirer Cisco.
See the full report here.
The High Cost of Downtime and How to Reduce It
When digital networks fail due to security incidents or other types of IT outages, it can be costly as well as damaging to a company’s reputation.
Splunk calculated that downtime for Global 2000 companies costs $400 billion a year, or 9% of profits. The findings come from the “Hidden Costs of Downtime” report, which Splunk recently released at its .conf24 event in Las Vegas, Nevada.
The analysis, conducted in collaboration with Oxford Economics, finds that the impact of downtime goes beyond the immediate financial cost — it can also have a lasting negative impact on a company’s shareholder value, pace of innovation and customer trust.
The report surveyed 2,000 executives from the world’s largest companies (Global 2000) and found that downtime causes both direct and hidden costs.
Read the full story here.
Splunk Product Innovation: Powering the SOC of the Future
At Splunk’s .conf24 event in Las Vegas last week, the company announced several new security innovations aimed at helping its 2,200+ partner ecosystem of MSPs, MSSPs and cybersecurity vendors improve threat detection, investigation and response (TDIR) and security operations across multiple data sources.
According to Splunk executives, these innovations are crucial to powering the security operations center (SOC) of the future.
One such evolution is Splunk Enterprise 8.0, which empowers security teams to proactively manage and mitigate risk. According to Splunk, Enterprise Security 8.0 improves the SOC workflow experience with standardized terminology and integrated automation with Splunk SOAR. The new version also integrates cloud-native Mission Control, simplifying how security analysts can detect, investigate and respond to threats quickly and productively.
Mike Horn, senior vice president and general manager of security products at Splunk, said the latest advancements in Splunk Enterprise Security 8.0 revolutionize the TDIR lifecycle experience for analysts.
“With a seamless investigation and case management solution that includes automated integration with Splunk SOAR, our latest release empowers SOC teams to efficiently address cybersecurity complexities,” said Horn. “Splunk Enterprise Security 8.0 serves as the foundation for the SOC of the future, driving proactive defense in an ever-evolving threat landscape.”
Other advancements include federated analytics integrated with Amazon Security Lake, innovations in data management, and advancements in AI within integrated Splunk and Cisco technologies.
Read the full story here.
Splunk + Cisco Announce Expansion of Partnership Program
Partnerships are a key part of Splunk’s business — in fact, 90 percent of the cybersecurity company’s revenue comes from them, says Gretchen O’Hara, vice president of worldwide partners and alliances and channel chief, who spoke during a keynote address at the Splunk .conf24 Global Partner Summit in Las Vegas.
Splunk’s partnerships, particularly those with MSPs and MSSPs, that are fostered and maintained through its Partnerverse program are as important to the company’s success and growth as the innovation it shares with Cisco, which acquired Splunk in September 2023 for $28 billion.
MSSPs, MSPs and other partners have been closely monitoring the integration of Splunk and Cisco’s partner programs in the months since the acquisition, with some analysts predicting it could take 18 months to two years for a fully integrated partner program to materialize. Meanwhile, the two organizations are moving toward a sum that is greater than its parts, with executives from each company hinting at collaboration and future plans.
On the cybersecurity technology front, both Splunk and Cisco offer a range of technologies for MSPs and MSSPs, with a key outcome of the merger being the integration of Splunk Enterprise for Security with Cisco XDR.
O’Hara, who took the stage with Gary Steele, Cisco president of go-to-market and general manager of Splunk, and Chuck Robbins, Cisco CEO and chairman, stressed the importance of partnerships to the “Splunkers” in attendance. Together, they touted the modernization of Splunk’s Partnerverse program, including a commitment to an open platform and an “enhanced partner-led culture” across Splunk and Cisco.
Read the full story here.
