German Companies Unite to Combat Rising Cybersecurity Threats

German Firms Seek Allies to Counter Growing Cyberattacks

An increasing number of enterprises recognize the financial and reputational threat a single targeted attack can pose, ISG Provider Lens™ report says Faced with an upsurge in cyberattacks and a shortage of qualified cybersecurity experts, enterprises in Germany are increasingly turning to external providers for support, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm. The 2024 ISG Provider Lens™ Cybersecurity - Solutions and Services report for Germany finds the need for enhanced cybersecurity is particularly acute among Germany's small and medium-sized enterprises (SMEs). The rise in frequency and sophistication of cyberattacks is often more than these companies can handle on their own and has led to an increased reliance on external services, such as security operations centers. Rather than simply reacting to attacks, these services take a more proactive, AI-based approach to keep pace with potential threats, the ISG report says. "AI and quantum technology pose new threats for German enterprises, yet they also present new opportunities for cybersecurity service providers," said Dr. Matthias Paletta, director, technology modernization, for ISG in Germany. "Service providers that are able to address both large companies with their large budgets and SMEs with their dynamically growing demand have an advantage here." Among German enterprises, SMEs represent an attractive market segment for cybersecurity providers, the ISG report says. Although their IT security systems are often less mature than those of larger companies, they still face many of the same threats and are compelled to upgrade their systems as a result, the report says. In short, these companies have a lot of catching up to do. This predicament has led to above-average growth in demand among SMEs for cybersecurity solutions, ISG says. For potential providers intent on appealing to this segment, sensitivity to distinct forms of communication and cultural aspects are particularly important, the ISG report says. Despite the growing importance of cybersecurity, some IT managers continue to face resistance from company stakeholders, especially CFOs, when attempting to make a business case for investing in cybersecurity, the ISG report says. A weak Germany economy has made this already difficult task even more challenging, the report says. Unlike with other IT projects, it is not always possible to prove the ROI of cybersecurity investments. Nor is it easy to quantify threat risks, ISG says. "A growing number of German enterprises recognize that cyberattacks can lead to massive financial and reputational damage," said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. "As a result, senior management is becoming steadily more involved in cyber risk management." The report also examines how managed security service providers (MSSPs) are turning to automation and AI to combat cyber threats. For more insights into the cybersecurity challenges that enterprises in Germany face, including a shortage of specialists and an increased attack surface, and ISG's advice for addressing them, see the ISG Provider Lens™ Focal Points briefing here. The 2024 ISG Provider Lens™ Cybersecurity - Solutions and Services report for Germany evaluates the capabilities of 109 providers across eight quadrants: Identity and Access Management, Data Leakage/Loss Prevention and Data Security, Extended Detection and Response (Global), Security Service Edge (Global), Technical Security Services, Strategic Security Services, Managed Security Services - SOC and Managed Security Services - SOC (Midmarket). The report names IBM as a Leader in six quadrants, while Axians, Deutsche Telekom and Eviden are named as Leaders in four quadrants each. Accenture, Bechtle, CANCOM, Capgemini, Controlware and Microsoftare named as Leaders in three quadrants each, while Broadcom, Computacenter, Forcepoint and Palo Alto Networksare named as Leaders in two quadrants each. Cato Networks, Cisco, CrowdStrike, DATAGROUP, Deloitte, DriveLock, DXC Technology, Fortinet, Fortra, GBS, HCLTech, Infosys, KPMG, Matrix42, Netskope, Okta, Orange Cyberdefense, Ping Identity, SailPoint, SentinelOne, TCS, Trellix, Trend Micro, Versa Networks, Wipro and Zscaler are named as Leaders in one quadrant each. In addition, CyberArk, HCLTech, Materna Radar, Skyhigh Security, suresecure, Trellix, Wavestone and Zscalerare named as Rising Stars -- companies with a "promising portfolio" and "high future potential" by ISG's definition -- in one quadrant each. In the area of customer experience, Zensar Technologies is named the global ISG CX Star Performer for 2024 among Cybersecurity - Solutions and Services partners. Zensar Technologies earned the highest customer satisfaction scores in ISG's Voice of the Customer survey, part of the ISG Star of Excellence™ program, the premier quality recognition for the technology and business services industry. Customized versions of the report are available from CANCOM, Controlware, DATAGROUP, DriveLock and Materna Radar. The 2024 ISG Provider Lens™ Cybersecurity - Solutions and Services report for Germany is available to subscribers or for one-time purchase on this webpage. About ISG Provider Lens™ Research The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of insights to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Mexico, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage. About ISG ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 900 clients, including more than 75 of the world's top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including AI and automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs 1,600 digital-ready professionals operating in more than 20 countries -- a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry's most comprehensive marketplace data. For more information, visit www.isg-one.com.

German Firms Seek Allies to Counter Growing Cyberattacks By Investing.com

An increasing number of enterprises recognize the financial and reputational threat a single targeted attack can pose, ISG Provider Lens™ report says FRANKFURT, Germany--(BUSINESS WIRE)--Faced with an upsurge in cyberattacks and a shortage of qualified cybersecurity experts, enterprises in Germany are increasingly turning to external providers for support, according to a new research report published today by Information Services Group (ISG) (Nasdaq: NASDAQ:III), a leading global technology research and advisory firm. The 2024 ISG Provider Lens™ Cybersecurity - Solutions and Services report for Germany finds the need for enhanced cybersecurity is particularly acute among Germany's small and medium-sized enterprises (SMEs). The rise in frequency and sophistication of cyberattacks is often more than these companies can handle on their own and has led to an increased reliance on external services, such as security operations centers. Rather than simply reacting to attacks, these services take a more proactive, AI-based approach to keep pace with potential threats, the ISG report says. AI and quantum technology pose new threats for German enterprises, yet they also present new opportunities for cybersecurity service providers, said Dr. Matthias Paletta, director, technology modernization, for ISG in Germany. Service providers that are able to address both large companies with their large budgets and SMEs with their dynamically growing demand have an advantage here. Among German enterprises, SMEs represent an attractive market segment for cybersecurity providers, the ISG report says. Although their IT security systems are often less mature than those of larger companies, they still face many of the same threats and are compelled to upgrade their systems as a result, the report says. In short, these companies have a lot of catching up to do. This predicament has led to above-average growth in demand among SMEs for cybersecurity solutions, ISG says. For potential providers intent on appealing to this segment, sensitivity to distinct forms of communication and cultural aspects are particularly important, the ISG report says. Despite the growing importance of cybersecurity, some IT managers continue to face resistance from company stakeholders, especially CFOs, when attempting to make a business case for investing in cybersecurity, the ISG report says. A weak Germany economy has made this already difficult task even more challenging, the report says. Unlike with other IT projects, it is not always possible to prove the ROI of cybersecurity investments. Nor is it easy to quantify threat risks, ISG says. A growing number of German enterprises recognize that cyberattacks can lead to massive financial and reputational damage, said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. As a result, senior management is becoming steadily more involved in cyber risk management. The report also examines how managed security service providers (MSSPs) are turning to automation and AI to combat cyber threats. For more insights into the cybersecurity challenges that enterprises in Germany face, including a shortage of specialists and an increased attack surface, and ISG's advice for addressing them, see the ISG Provider Lens™ Focal Points briefing here. The 2024 ISG Provider Lens™ Cybersecurity - Solutions and Services report for Germany evaluates the capabilities of 109 providers across eight quadrants: Identity and Access Management, Data Leakage/Loss Prevention and Data Security, Extended Detection and Response (Global), Security Service Edge (Global), Technical Security Services, Strategic Security Services, Managed Security Services " SOC and Managed Security Services " SOC (Midmarket). The report names IBM (NYSE:IBM) as a Leader in six quadrants, while Axians, Deutsche Telekom (OTC:DTEGY) and Eviden are named as Leaders in four quadrants each. Accenture (NYSE:ACN), Bechtle, CANCOM, Capgemini, Controlware and Microsoft (NASDAQ:MSFT) are named as Leaders in three quadrants each, while Broadcom (NASDAQ:AVGO), Computacenter, Forcepoint and Palo Alto Networks (NASDAQ:PANW) are named as Leaders in two quadrants each. Cato Networks, Cisco (NASDAQ:CSCO), CrowdStrike (NASDAQ:CRWD), DATAGROUP, Deloitte, DriveLock, DXC Technology (NYSE:DXC), Fortinet (NASDAQ:FTNT), Fortra, GBS, HCLTech, Infosys (NS:INFY), KPMG, Matrix42, Netskope, Okta (NASDAQ:OKTA), Orange Cyberdefense, Ping Identity, SailPoint, SentinelOne (NYSE:S), TCS, Trellix, Trend Micro (OTC:TMICY), Versa Networks, Wipro (NYSE:WIT) and Zscaler (NASDAQ:ZS) are named as Leaders in one quadrant each. In addition, CyberArk, HCLTech, Materna Radar, Skyhigh Security, suresecure, Trellix, Wavestone and Zscaler are named as Rising Stars " companies with a promising portfolio and high future potential by ISG's definition " in one quadrant each. In the area of customer experience, Zensar Technologies is named the global ISG CX Star Performer for 2024 among Cybersecurity " Solutions and Services partners. Zensar Technologies earned the highest customer satisfaction scores in ISG's Voice of the Customer survey, part of the ISG Star of Excellence™ program, the premier quality recognition for the technology and business services industry. Customized versions of the report are available from CANCOM, Controlware, DATAGROUP, DriveLock and Materna Radar. The 2024 ISG Provider Lens™ Cybersecurity - Solutions and Services report for Germany is available to subscribers or for one-time purchase on this webpage. About ISG Provider Lens™ Research The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of insights to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Mexico, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage. About ISG ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 900 clients, including more than 75 of the world's top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including AI and automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs 1,600 digital-ready professionals operating in more than 20 countries"a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry's most comprehensive marketplace data. For more information, visit www.isg-one.com.