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Fox-It Award Write Up

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Fox-It receives 2019 European Managed Security Service Product Line Strategy Leadership Award

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Fox-It Award Write Up

  1. 1. FROST & SULLIVAN BEST PRACTICES AWARD Product Line Strategy Leadership Award 2019 MANAGED SECURITY SERVICE - EUROPE
  2. 2. BEST PRACTICES RESEARCH © Frost & Sullivan 2018 2 “We Accelerate Growth” Contents Significance of Product Line Strategy ............................................................................6 Understanding Product Line Strategy Leadership............................................................6 Key Benchmarking Criteria ....................................................................................7 Best Practices Award Analysis for Fox-IT .......................................................................7 Decision Support Scorecard ...................................................................................7 Product Line Strength ...........................................................................................8 Customer Impact .................................................................................................8 Decision Support Matrix ........................................................................................9 Best Practices Recognition: 10 Steps to Researching, Identifying, and Recognizing Best Practices .................................................................................................................10 The Intersection between 360-Degree Research and Best Practices Awards.....................11 Research Methodology ........................................................................................11 About Frost & Sullivan ..............................................................................................11
  3. 3. BEST PRACTICES RESEARCH © Frost & Sullivan 2018 3 “We Accelerate Growth” Background and Company Performance Industry Challenges The Managed Security Services market has experienced large scale proliferation and fragmentation in recent years, with smaller players emerging regularly and touting the newest technology and the most comprehensive managed detection and remediation (MDR) platforms. There is some merit to these claims, as firms and start-ups routinely push the boundaries with impressive technologies. But the security environment – particularly in Europe, where GDPR has reshaped the regulatory landscape for data protection – requires more than impressive technologies such as AI or machine learning. It requires expertise and experience to ensure compliance, that the solution fits the needs of the customer, and does not burden the customer with bloated endpoint firmware or cumbersome on-premise data centres. A product line that provides the flexibility and expertise to deploy the right solution to address the specific problem faced by an individual customer is essential. Frost & Sullivan research indicates that many security providers have a tendency to push their most prestigious offering in the pursuit of larger contracts, regardless of customer needs. A more holistic, intelligence-driven and operational approach to cybersecurity is required to effectively protect against threats faced by individual customers. Cybersecurity is not just about technology. To counter the evolving cyber threats facing organizations today, business leaders must ensure they have an understanding of the cyber threat landscape specific to their organization. Only when they understand this can they develop an integrated approach to cybersecurity, tailored to the threat landscape and underlying business risk, addressing not only the technical aspects of their defence, but also the human and organizational elements. For many companies, this requires a fundamental transformation in how cybersecurity is understood within the business. Customer Impact and Product Line Strength Breath of Coverage NCC Group’s Fox-IT assures their customers that the breadth of its coverage will scale with the needs of the business. By accessing the knowledge-base of its parent company, NCC Group, Fox-IT has an extremely robust foothold in incident response, and specifically how to build architectures in their client’s environment, regardless of size. It also boasts outstanding threat intelligence, particularly in the financial sector but also in the government or state actor sectors. Their detection capabilities are well-known for their breadth of coverage. One advantage for NCC Group and Fox-IT is that their technologies are built in-house to meet the needs of individual clients rather than rely on partner software.
  4. 4. BEST PRACTICES RESEARCH © Frost & Sullivan 2018 4 “We Accelerate Growth” Scalability Fox-IT, with the backing of its parent company NCC Group, offers SMBs educational outreach to help build their cyber awareness and understanding of what their critical technological assets are. This approach enables NCC Group’s Fox-IT to serve a traditionally underserved market with solutions designed for SMBs. These organizations, whose resource allocation for cybersecurity is typically limited, benefit greatly from the breadth of knowledge offered by the large team of security consultants, supplied partially by their parent company NCC Group, to help implement the customized solution. The distinguishing characteristic of Fox- IT solutions is the focus on protecting their customers’ assets without necessarily imposing technologies upon them that are not required for their individual business configuration. Empowering the User Furthermore, NCC Group’s Fox-IT encourages its customers to self-empower promoting knowledge of security that can permeate their organizations. Through the Fox-IT Academy, Fox-IT offers customers a suite of cybersecurity courses that are available if they wish to broaden their knowledge and lessen their dependence on security consultants. Technological Prowess This is not to deemphasize the technological prowess that Fox-IT touts. For standard customers, NCC Group’s Fox-IT provides a cyber-threat management platform, designed to defend against known and unknown threats. Furthermore, it provides a SOC-based network protection module and a lightweight endpoint module. But in addition to the standard battery of managed security services, real-time web analytics, and threat intelligence, Fox- IT also provides sophisticated military grade security solutions. Datadiode one-way connection technology is deployed by critical infrastructure organizations and governments, and purports to offer the highest certified level of security on the market. Despite offering small scale solutions to suit the needs of SMBs, the firm offers a portfolio of rather different technologies, including gateways, encryption services, and secure-inter-network- architectures that have been approved for NATO SECRET and SECRET UE classifications.
  5. 5. BEST PRACTICES RESEARCH © Frost & Sullivan 2018 5 “We Accelerate Growth” Conclusion NCC Group’s Fox-IT boasts a robust and wide-ranging product line, from rudimentary setups to meet the needs of SMBs, to the highest level of military security architecture. But moreover, it is the maturity of its view of the market that delineates Fox-IT from its competitors. Far from a start-up pushing over-the-top technologies on organizations for which it may not be suited, it provides sober consultation and suggestions that address the business needs of its customers. The ability to show restraint when approaching a customer demonstrates an organisation that is confident in its expertise, its technologies, and moreover, its ability to meet its customers’ needs up and down its product line. With its strong overall performance, NCC Group’s Fox-IT has earned Frost & Sullivan’s 2019 Product Line Strategy Award.
  6. 6. BEST PRACTICES RESEARCH © Frost & Sullivan 2018 6 “We Accelerate Growth” Significance of Product Line Strategy Ultimately, growth in any organization depends upon customers purchasing from a company and then making the decision to return time and again. A full, comprehensive product line that addresses numerous customer needs and preferences is, therefore, a critical ingredient to any company’s long-term retention efforts. To achieve these dual goals (customer value and product line strength), an organization must be best-in-class in three key areas: understanding demand, nurturing the brand, and differentiating from the competition. Understanding Product Line Strategy Leadership As discussed above, driving demand, strengthening brand, and differentiating from the competition all play a critical role in delivering unique value to customers. This three-fold focus, however, must ideally be complemented by an equally rigorous focus on building a superior and comprehensive product line.
  7. 7. BEST PRACTICES RESEARCH © Frost & Sullivan 2018 7 “We Accelerate Growth” Key Benchmarking Criteria For the Product Line Strategy Leadership Award, Frost & Sullivan analysts independently evaluated two key factors—Product Line Strength and Customer Impact—according to the criteria identified below. Product Line Strength Criterion 1: Breadth Criterion 2: Scalability Criterion 3: Technology Leverage Criterion 4: Features Criterion 5: Supply Chain Reliability Customer Impact Criterion 1: Price/Performance Value Criterion 2: Customer Purchase Experience Criterion 3: Customer Ownership Experience Criterion 4: Customer Service Experience Criterion 5: Brand Equity Best Practices Award Analysis for Fox-IT Decision Support Scorecard To support its evaluation of best practices across multiple business performance categories, Frost & Sullivan employs a customized Decision Support Scorecard. This tool allows our research and consulting teams to objectively analyse performance, according to the key benchmarking criteria listed in the previous section, and to assign ratings on that basis. The tool follows a 10-point scale that allows for nuances in performance evaluation. Ratings guidelines are illustrated below. RATINGS GUIDELINES The Decision Support Scorecard is organized by Product Line Strength and Customer Impact (i.e., these are the overarching categories for all 10 benchmarking criteria; the definitions for each criterion are provided beneath the scorecard.). The research team confirms the veracity of this weighted scorecard through sensitivity analysis, which confirms that small changes to the ratings for a specific criterion do not lead to a significant change in the overall relative rankings of the companies.
  8. 8. BEST PRACTICES RESEARCH © Frost & Sullivan 2018 8 “We Accelerate Growth” The results of this analysis are shown below. To remain unbiased and to protect the interests of all organizations reviewed, we have chosen to refer to the other key participants as Competitor 2 and Competitor 3. Measurement of 1–10 (1 = poor; 10 = excellent) Product Line Strategy Product Line Strength Customer Impact Average Rating Fox-IT 10 8.5 9.00 Competitor 2 8.5 8.0 8.25 Competitor 3 9.0 8.0 8.5. Product Line Strength Criterion 1: Breadth Requirement: Product line addresses the full range of customer needs and applications. Criterion 2: Scalability Requirement: Product line offers products at a variety of price points and functionality levels. Criterion 3: Technology Leverage Requirement: Demonstrated commitment to incorporating leading-edge technologies into product offerings results in greater product performance and value. Criterion 4: Features Requirement: Products offer a comprehensive suite of features to serve customers at multiple levels of functionality, ease of use, and applications. Criterion 5: Supply Chain Reliability Requirement: There is sufficient control over the supply chain to ensure availability of key components and thereby the availability of products in the product line. Customer Impact Criterion 1: Price/Performance Value Requirement: Products or services offer the best value for the price, compared to similar offerings in the market. Criterion 2: Customer Purchase Experience Requirement: Customers feel they are buying the most optimal solution that addresses both their unique needs and their unique constraints. Criterion 3: Customer Ownership Experience Requirement: Customers are proud to own the company’s product or service and have a positive experience throughout the life of the product or service.
  9. 9. BEST PRACTICES RESEARCH © Frost & Sullivan 2018 9 “We Accelerate Growth” Criterion 4: Customer Service Experience Requirement: Customer service is accessible, fast, stress-free, and of high quality. Criterion 5: Brand Equity Requirement: Customers have a positive view of the brand and exhibit high brand loyalty. Decision Support Matrix Once all companies have been evaluated according to the Decision Support Scorecard, analysts then position the candidates on the matrix shown below, enabling them to visualize which companies are truly breakthrough and which ones are not yet operating at best-in-class levels. High Low Low High CustomerImpact Product Line Strength Fox-IT Competitor 2 Competitor 3
  10. 10. BEST PRACTICES RESEARCH © Frost & Sullivan 2018 10 “We Accelerate Growth” Best Practices Recognition: 10 Steps to Researching, Identifying, and Recognizing Best Practices Frost & Sullivan analysts follow a 10-step process to evaluate Award candidates and assess their fit with select best practice criteria. The reputation and integrity of the Awards are based on close adherence to this process. STEP OBJECTIVE KEY ACTIVITIES OUTPUT 1 Monitor, target, and screen Identify Award recipient candidates from around the globe  Conduct in-depth industry research  Identify emerging sectors  Scan multiple geographies Pipeline of candidates who potentially meet all best- practice criteria 2 Perform 360-degree research Perform comprehensive, 360-degree research on all candidates in the pipeline  Interview thought leaders and industry practitioners  Assess candidates’ fit with best-practice criteria  Rank all candidates Matrix positioning of all candidates’ performance relative to one another 3 Invite thought leadership in best practices Perform in-depth examination of all candidates  Confirm best-practice criteria  Examine eligibility of all candidates  Identify any information gaps Detailed profiles of all ranked candidates 4 Initiate research director review Conduct an unbiased evaluation of all candidate profiles  Brainstorm ranking options  Invite multiple perspectives on candidates’ performance  Update candidate profiles Final prioritization of all eligible candidates and companion best-practice positioning paper 5 Assemble panel of industry experts Present findings to an expert panel of industry thought leaders  Share findings  Strengthen cases for candidate eligibility  Prioritize candidates Refined list of prioritized Award candidates 6 Conduct global industry review Build consensus on Award candidates’ eligibility  Hold global team meeting to review all candidates  Pressure-test fit with criteria  Confirm inclusion of all eligible candidates Final list of eligible Award candidates, representing success stories worldwide 7 Perform quality check Develop official Award consideration materials  Perform final performance benchmarking activities  Write nominations  Perform quality review High-quality, accurate, and creative presentation of nominees’ successes 8 Reconnect with panel of industry experts Finalize the selection of the best-practice Award recipient  Review analysis with panel  Build consensus  Select recipient Decision on which company performs best against all best-practice criteria 9 Communicate recognition Inform Award recipient of Award recognition  Present Award to the CEO  Inspire the organization for continued success  Celebrate the recipient’s performance Announcement of Award and plan for how recipient can use the Award to enhance the brand 10 Take strategic action Upon licensing, company is able to share Award news with stakeholders and customers  Coordinate media outreach  Design a marketing plan  Assess Award’s role in future strategic planning Widespread awareness of recipient’s Award status among investors, media personnel, and employees
  11. 11. BEST PRACTICES RESEARCH © Frost & Sullivan 2018 11 “We Accelerate Growth” The Intersection between 360-Degree Research and Best Practices Awards Research Methodology Frost & Sullivan’s 360-degree research methodology represents the analytical rigor of our research process. It offers a 360-degree-view of industry challenges, trends, and issues by integrating all 7 of Frost & Sullivan's research methodologies. Too often companies make important growth decisions based on a narrow understanding of their environment, leading to errors of both omission and commission. Successful growth strategies are founded on a thorough understanding of market, technical, economic, financial, customer, best practices, and demographic analyses. The integration of these research disciplines into the 360-degree research methodology provides an evaluation platform for benchmarking industry participants and for identifying those performing at best-in-class levels. About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages more than 50 years of experience in partnering with Global 1000 companies, emerging, businesses and the investment community from 45 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com. 360-DEGREE RESEARCH: SEEING ORDER IN THE CHAOS

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