How a Cyber Security Company Reclaimed Its Position in the Market?

A cyber security company made its firewall security application so stringent that it cost them financial losses. The organization had been an old player in the sector of cyber security solutions. The firm delivers a wide range of services: Managed Security Services (MSS), Cyber Intelligence Services (CIS), Network Security Services (NSS), Managed Detection and Response (MDR), and Cyber Security Technology Integration (CTI). The company developed a firewall program and introduced it in the market, but the product didn’t gain much popularity as the company had expected. The company went into a loss. The management then sought help from Research Nester and was called in to assess and develop strategic solutions through effective product analysis.

An overview:

The company is a cloud-based cybersecurity service. The firm has a diversified portfolio, with clients comprising companies from mid-size enterprises to world-renowned corporations and government agencies.

In 2019, the company launched its firewall for both B2B and B2C. The company developed the firewall with the latest technology, and as a result, a lot of investment was done, anticipating high returns.

Despite, providing a perfect shield from cyberattacks, the firewall didn’t gather much popularity. This was due to the less flexibility of the firewall which also led to frequent misidentification of legitimate traffic as a potential threat.

The company hence faced major losses. The management then appointed Research Nester to dispense a strategic plan to handle the crisis at hand.

The Story

Founded in 2000, the company evolved to be a global cybersecurity provider, with a wide range of services. The quality of their service led the organization to receive many awards and distinctions from world-renowned research companies. The company’s motto is to provide technological solutions that are at par with innovation and are reliable. In June 2019, the company launched its firewall with the latest technology aiming for both B2B and B2c. The company had invested a lot in the development of this product but faced losses instead. To make the application perfect, the programming was done such that the firewall was rigid. But this led to constant false alarms and issues. This problem was reported a lot, and the product review became negative and unsatisfactory. Research nester a leading service provider for strategic market research and consulting, was hired by the company’s management to navigate through this situation.

The Solution:

Research Nester analysts investigated and concluded that the rigidity of the firewall design was at fault. To perfect the security frame, the company made the firewall too fixed, and the differentiation between false and right alarms is hard to make, creating further chaos. Understanding this issue through detailed product analysis and in-depth research of the global cybersecurity market, RNPL analysts suggested the following measures:

Firstly, it was necessary to create custom rules and configurations that would allow specific traffic while denying access to others
Existing policies need to be reviewed to determine if they comply.
The company can adopt the use of firewall management tools. These provide the visibility needed to see which rules can be eliminated, as well as what the implications of changing or removing a rule will be.
The Analysts also suggested the company invest in custom firewalls. With this, the desired security and packet routing can be accomplished using the custom firewall app. With this approach, the company could charge customers differently based on their customization, benefitting the firm.

Results

The company incorporated the key measures suggested by Research Nester analysts by upgrading and relaxing its firewall for an effective and user-friendly portal. This led to a positive review in terms of functionality. The product generated revenue of ~USD 7 billion in 2022 higher than ~USD 3 billion in 2020. The company transitioned to developing customized firewalls and profited hugely from it.

How a Cyber Security Company Reclaimed Its Position in the Market?

An overview:

The Story

The Solution:

Results

Contact Us

Swara Keni

Let Us Hear About Your Requirements:

Subscribe to Our Newsletters