Tech Mahindra Ltd., a leading provider of digital transformation, consulting and business reengineering services and Lucideus, a global leader in cyber risk quantification solutions, announced a strategic collaboration to conduct annual cybersecurity risk assessment for global organisations. The initiative is branded as ‘Most Admired Cyber-Secure Enterprise’ (MACE), that will help global corporations measure and mitigate prevailing cyber risks in real-time through a complimentary online assessment. This will be an ongoing annual assessment aimed at bringing the most advanced cyber risk quantification solutions to customers globally, and transform the way businesses monitor cybersecurity currently.
MACE program will play a pivotal role to ensure proactive identification and minimization of these susceptibilities. The participating organizations will be measured and comprehensively evaluated across 25+ parameters including cloud, web and network, email, domain name system, leaked credentials in the deep and dark web, internet protocol & domain reputation, employee enumeration amongst others. Post the assessment, all the participating companies will receive a personalized report that will rate and score them on their present cyber risk posture and the probability of a breach occurring in the next 12 months.
Rajesh Chandiramani, Senior Vice President and Global Business Head ESRM, AI & Data Analytics, Tech Mahindra, said, “Tech Mahindra has been at the forefront in enhancing awareness and minimizing cyber security risks across its clients. With the onset of the prevailing Coronavirus, the imminent threat from increased cyber-attacks and related vulnerabilities has increased exponentially. Today our customers view cybersecurity as not only an essential security tool, but rather a part of board room discussions, as it has emerged as a key differentiator impacting both topline and bottom-line. Through this important strategic initiative, Tech Mahindra endeavors to reiterate its position as the cybersecurity partner of choice by helping our clients be future ready and secure their digital assets through proactive sharing of trends and analytics to mitigate future threats.”
Founded in 2012 and headquartered in Palo Alto, Lucideus is a global leader in Enterprise Cybersecurity Risk Quantification (CRQ) platforms incubated from IIT Bombay and backed by Cisco's former Chairman and CEO John Chambers. It protects multiple Fortune 500 companies and governments around the world with its SAFE platform. Lucideus was awarded ‘Emerging Vendor of the Year 2018' by Frost & Sullivan, recognized as a 'Leading Pure-Play VAPT Vendor' by Gartner’s Market Guide in 2019, and awarded “Morgan Stanley CTO Innovation Award 2019”.
Markets and Markets forecasts the Cybersecurity Market to grow from USD 152.71 billion in 2018 to USD 248.6 billion by 2023 at a CAGR of 10.2%, and this growth will only amplify due to the outbreak of the novel Coronavirus. With the increased adoption of digital technologies, and the new normal of working from home, businesses are susceptible to cyber-attacks now, more than ever.
Saket Modi, Co-founder & CEO, Lucideus, said, “Cybersecurity today is the number one worry for CEOs globally and today businesses are dealing with multiple types of cybercriminals such as data extortionist,, digital robbers, insiders (own employees), terrorists, hactivitists and state actors. There has been a huge rise in the sophistication of cyberattacks and businesses will need to adopt a more proactive and objective approach, in viewing their cybersecurity risk posture. Our partnership with Tech Mahindra will enable organizations to monitor change in real-time in their digital risk posture and make cyber risk an informed business decision”
CP Gurnani, Managing Director and Chief Executive Officer, Tech Mahindra with John Chambers, Ex-Chairman, CISCO formally announced the launch of the MACE program on 22 nd June, 2020 during a virtual event on how enterprises are accelerating the digital transformation post Covid19. This collaboration aligns with Tech Mahindra’s TechMNxt charter to deliver innovative and cutting-edge technologies in cyber security and risk management to customers globally.