Cybersecurity Software in Retail and Consumer Goods
Retail industries sell consumer products and services to clients through multiple channels. The retail industry vertical is one of the largest industry verticals across the globe. It includes a large number of entities, such as online and offline retailers, manufacturers, distribution channels, and consumers. The penetration of social media, omnichannel shopping, and emerging payment technologies are transforming the retail industry vertical. In contradiction of this rapidly evolving digital retail landscape, retailers find themselves to be poorly protected targets of escalating and increasingly sophisticating cyber-attacks. This industry vertical always focuses on reducing costs and enhancing its business operations. Moreover, it is one of the most targeted industry verticals by cyber-attackers, due to the potential payouts and a large number of monetary transactions made via VISA, MasterCard, and other payment processing networks. SQL injection and brute-force are among the common attacks witnessed by this industry vertical.
Retail cybersecurity has often been reactive and underfunded; however, security vulnerabilities are now becoming a critical issue. From a technology perspective, retailers have historically taken a checkbox approach to PCI compliance. Compliance-based security has resulted in incomplete data protection and poorly integrated point solutions spread over a wide geographic area. Furthermore, the endpoint security is often neglected on PoS systems, due to challenges in implementation, maintenance, and training. Retailers are now adopting new technologies, such as location-based marketing and internal work localization from one floor to another to attract customers and take full advantage of online business opportunities, which are again vulnerable to threats.
Hence, retail organizations should secure network points that include PoS terminals, eCommerce websites, third-party vendors, employees’ access points, and the increasing IoT-based devices, such as printers and security cameras. The cybersecurity solutions are helping the retail industry to reduce the cyber risk and maintain a secure IT infrastructure.
COMPETITIVE LEADERSHIP MAPPING TERMINOLOGY
11 companies offering Cybersecurity Software in Retail and Consumer Goods were analyzed, shortlisted and categorized on a quadrant under Visionary Leaders, Innovators, Dynamic Differentiators, and Emerging Companies.
IBM, Cisco, HPE, and Trend Mirco have been identified as visionary leaders as they have established product portfolios and a robust market presence and business strategy.
Check Point Software, Dell, Palo Alto Networks, and Sophos have been identified as innovators as these vendors have a very focused product portfolio. However, they do not have very strong growth strategies for their overall business.
F-Secure has been identified as an emerging company. They do not have very strong business strategies as compared to other established vendors. They might be new entrants and require some more time before gaining significant traction in the market. Cyberark has been recognized as a dynamic differentiator.
Vendor evaluations are based on two broad categories: product offering and business strategy. Each category carries various criteria, based on which vendors have been evaluated. The evaluation criteria considered under product offerings include breadth of offering, delivery, features/functionality, product quality and reliability, and product differentiation. The evaluation criteria considered under business strategy include geographic footprint (on the basis of geographic presence), channel strategy and fit, vision alignment, and effectiveness of growth (on the basis of innovations, partnerships, collaborations, and acquisitions).
Visionary Leaders generally receive high scores for most evaluation criteria. They provide mature and reputable mobile cybersecurity solutions. They also have strong business strategies. IBM, Cisco, HPE, and Trend Mirco are the leading players in the cybersecurity software market and are recognized as leaders. These vendors are making their presence felt by offering services that are required by most organizations.
Innovators demonstrate substantial product innovation as compared to their competitors. They have a very focused portfolio of cybersecurity software solutions and the potential to build strong business strategies for their business growth to be at par with the leaders. However, they do not have very strong growth strategies for their overall business. Check Point Software, Dell, Palo Alto Networks, and Sophos are recognized as innovators. Innovators have been at the forefront in deploying their services based on the clients’ custom software requirements for the niche market.
Dynamic Differentiators are established vendors with very strong business strategies. However, they are low in the product portfolio. They generally focus on a specific type of technology related to the product. Cyberark is recognized as a dynamic differentiator.
EMERGING COMPANIESF-Secure has been recognized as an emerging player in the cybersecurity software market. The emerging players are specialized in offering highly niche and tailor-made solutions and services to their clients. They do not have very strong business strategies as compared to other established vendors. They might be new entrants in the market and require some more time before gaining significant market traction.
IBM offers category-wise products which include endpoint protection, network protection, mainframe security, application security, data security, security intelligence and operations, advanced fraud detection, cloud, and mobile security and IAM. IBM Identity and access management services help in protecting an organization from breaches, enhances productivity and competitiveness, and achieves and maintains regulatory compliance. It helps in increasing the maturity of the program with identity and access management services from IBM Security. IBM solutions help in detecting and stopping advanced threats. It automates threat detection and response across the enterprise.
HPE security protects digital assets with reassurance from the HPE risk management and digital protection service. HPE offers a different product such as security management, threat, and vulnerability defense. Security Information and Event Management (SIEM), security monitoring, data encryption, and key management, and data protection products included in the security management category. HPE security services provide comprehensive, redundant protection that guides servers and data from threats that exist and threats for the future. Its security risk management workshops, assessments, architecture, design and integration services accelerate digital transformation. HPE addresses vulnerabilities in applications and connection and builds security and compliance into the business.
Cortex cybersecurity software solves problems like security orchestration and automation, ML-based threat detection, investigation, and response. Real-time collaboration is available with Cortex. There is reduction in threat alerts, faster investigations are done, and the costs are reduced by 44%. Cortex ceases attacks with the power of good data. Cortex cybersecurity software has its own four products, Cortex XDR, Cortex XSOAR, Cortex Data, and Lake AutoFocus. All these four together make Cortex the most extensive product in the market that ensures high-class security.
CyberArk Security Services accelerate privileged access security programs by providing the knowledge to classify and list the most complex privileged access programs in organization. Once identified, CyberArk Professionals offers strategy, execution and project-management skill to achieve the best privileged access protection solutions. In short, CyberArk Security Services help clients maximize tangible value sooner.
Dell Endpoint Security Suite Enterprise integrates innovative threat prevention with unmatched efficiency against threats and commodity malware. It uses exclusive artificial intelligence (AI) and active mathematical models to analyse files prior to their implementation and determine which are safe and which aren’t, thus restricting malware before it can run. It is built on thousands of indicators derive from careful analyses of millions of real-world activities and known good files. Dell stop threats without cloud connection or frequent updates. The intelligence is built into the endpoint either on physical device or a virtual machine. Dell identify the advanced threat prevention through Dell commercial system BIOS on boot and quickly alert administrators of any possible BIOS tampering.