Secureworks Earns Frost & Sullivan Competitive Strategy Leadership Award in the Global Extended Detection and Response Market
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Insights
The recognition of Secureworks by Frost & Sullivan underscores the company's strategic positioning within the Extended Detection and Response (XDR) market. The award, based on strategy effectiveness and execution, competitive differentiation and customer experience, suggests that Secureworks has successfully capitalized on market trends by offering a product that resonates with the evolving needs of cybersecurity.
The 25% year-over-year growth in annual recurring revenue for Secureworks' Taegis™ platform is a strong indicator of the company's financial health and its product's market acceptance. This growth metric is particularly relevant to investors as it provides a tangible measure of the company's performance and potential for future profitability.
The integration of AI and automation in Secureworks' offerings could be seen as a strategic move to enhance efficiency and reduce costs, which is likely to have a positive impact on the company's margins and competitive advantage. The ability to respond to threats within an hour can be a significant value proposition for clients, potentially leading to increased customer retention and market share gains.
Secureworks' emphasis on AI-powered Threat Score and automation to achieve productivity savings of over 50% reflects an industry-wide trend towards leveraging technology to streamline cybersecurity operations. The integration of real-world threat intelligence and the open Taegis XDR platform, which offers comprehensive visibility, are critical in providing a robust security posture for clients, considering the increasing complexity of cyber threats.
The ability to offer access to security experts in under 90 seconds is a significant service differentiator, as rapid response times are crucial in mitigating the impact of cyber incidents. The evolution of threats, with attackers able to execute an attack in under 24 hours, necessitates such swift and efficient solutions.
From an investment perspective, the Global Competitive Strategy Leadership Award can be interpreted as a positive signal for Secureworks' shareholders and potential investors. The accolade may enhance the company's brand reputation and could be leveraged for marketing purposes, potentially leading to increased sales and market share.
However, investors should also be cognizant of the competitive dynamics of the cybersecurity market, which is characterized by rapid technological advancements and frequent entry of new players. The sustainability of Secureworks' competitive advantage, especially in light of the fast-evolving nature of cyber threats, is a key factor to monitor.
Furthermore, while awards and recognitions provide qualitative validation of a company's performance, investors should also examine quantitative financial data and the company's strategic initiatives to assess long-term growth potential and risk.
"Innovation powerhouse" Secureworks applauded for its innovation and customer-first approach which makes them "a force to be reckoned with in the XDR market"
Each year, Frost & Sullivan presents this award to the company that has leveraged competitive intelligence to successfully execute a strategy that results in stronger market share, competitive brand positioning, and customer satisfaction. In the third quarter of FY24, annual recurring revenue for Secureworks Taegis™ platform grew
Secureworks helps over 4,000 global customers across more than 70 countries secure their mission and reduce their cyber risk. The open Taegis XDR platform is powered by petabytes of global threat data, AI, and human intelligence to deliver excellent detection and response. It does this by offering visibility across the entire attack surface with native endpoint and network controls, plus hundreds of out-of-the-box integrations across endpoint, network, cloud, email, identity, and other systems. Built-in Automation and AI capabilities help organizations minimize false positives and accelerate response times. Real-world threat intelligence is constantly fed into the platform based on research and analysis from Secureworks Counter Threat Unit™.
Lucas Ferreyra, cybersecurity industry analyst at Frost & Sullivan, observed, "The Secureworks portfolio is tightly integrated and works as a well-oiled machine that improves customer security outcomes thanks to a strategy that includes market growth and expansion initiatives, flexibility, technology innovation, and an effective approach to XDR solutions."
"Secureworks Taegis XDR enables security professionals to focus on the truly important alerts, provides them with avenues to seek an expert's help, and allows customers to leverage existing cybersecurity investments, promoting collaboration and increasing cyber resilience," added Ferreyra. "With its customer-first approach and strong overall performance, Secureworks earns Frost & Sullivan's 2024 Global Competitive Strategy Leadership Award in the XDR market."
Secureworks offers XDR and MDR customers access to security experts around the clock in under 90 seconds. Innovations, including AI-powered Threat Score, also enable analysts to realize productivity savings of over
"The nature of threats is evolving fast, the amount of time between threat actor initial entry and execution of an attack has dropped significantly to under 24 hours. To change the dynamics of cyber-crime, we are laser-focused on innovating to equip cyber defenders with the most efficient capabilities to outpace the adversary. We are proud to offer a market-leading XDR platform that enables cyber defenders to detect and respond to these threats in under an hour. With integrated AI and automation, we support them to scale to meet changing threats, accelerate response times and reduce analyst workloads. Receiving this award from Frost & Sullivan is great recognition and endorsement of our mission," said Kyle Falkenhagen, Chief Product Officer, Secureworks.
Frost & Sullivan Best Practices awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.
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Contact:
Christine Savoie
E: christine.savoie@frost.com
About Secureworks
Secureworks (NASDAQ: SCWX) is a global cybersecurity leader that secures human progress with Secureworks® Taegis™, a SaaS-based, open XDR platform built on 20+ years of real-world detection data, security operations expertise, and threat intelligence and research. Taegis is embedded in the security operations of over 4,000 organizations around the world who use its advanced, AI-driven capabilities to detect advanced threats, streamline and collaborate on investigations, and automate the right actions.
Connect with Secureworks via X, LinkedIn and Facebook and Read the Secureworks Blog.
Contact:
Susie Evershed
E: severshed@secureworks.com
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SOURCE Frost & Sullivan
FAQ
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