US businesses turning to consulting firms amid cybersecurity fears

05 February 2019 3 min. read

Effectively dealing with the complex, technical world of cybersecurity is beyond the capabilities of many organizations. To insulate themselves from the increasing threats borne of digitalization, many turn to outside parties – namely consulting firms. 

With the rise of digitization comes an increased risk of cyberattacks, which in turn raises cybersecurity to the top of many American companies’ to-do lists. As such, more and more are turning to consulting firms to help them prepare for, repel, or avoid external attacks - or those brought about by the use of unauthorized outside technology brought in by employees.

“Enterprises are increasingly looking to service providers to help them address the talent shortage by providing training and outside skilled labor,” Esteban Herrera, partner and global leader of ISG Research, said. 

US businesses turning to consulting firms amid cybersecurity fears

Additionally, it is often difficult for IT executives to prove the value of security investments to management. Recent trends show a shift toward cloud-based and “as-a-service” security options. Artificial intelligence and automation are also quickly becoming the go-to choices for companies, as they can detect attacks in real time by utilizing defense mechanisms such as deception technology. A recent study shows the C-suite is key here, as its support is absolutely necessary for automation programs to be successfully scaled and deployed throughout a company. 

“Automated incident response has become the new normal in security operation centers,” Herrera said. 

 The interest in cybersecurity consultancy is an international phenomenon. Saudi Arabia in June entered into an agreement with Booz Allen Hamilton, which will see the American consulting firm train Saudi cybersecurity experts. In a report that analyzed 158 UK-based cybersecurity start-ups, consulting firm Wavestone found that demand for cybersecurity services rose steeply in 2018. In November, the Bank of England held a “war games”-type event with more than 40 major financial firms to help prepare for potential future cyberattacks. 

Further, global consultancy firm Accenture recently launched a cybersecurity hub in Edinburgh, Scotland. Accenture is the sixth-largest cybersecurity consultancy firm in the world

ISG is a leading global technology research and advisory firm. It has more than 700 clients, including 75 of the top 100 enterprises in the world. It specializes in digital transformation services, including automation, cloud, and data analytics.