Verve Commended by Frost & Sullivan for Developing a Growth Strategy Based on Its Ability to Innovate Industrial Cybersecurity Services
11 Dec, 2018, 12:30 GMT
Verve's cost-effective solutions incorporate best practices in cybersecurity to enable automatic end point management including vulnerability management, the implementation of patches and monitoring of inventory assets
SANTA CLARA, California, Dec. 11, 2018 /PRNewswire/ -- Based on its recent analysis of the North American industrial cybersecurity services market, Frost & Sullivan recognizes Verve Industrial Protection (Verve) with the 2018 North American Growth Excellence Leadership Award for achieving a niche market position as an industrial cyber protection company. In 2017, Verve rebranded itself from RK Neal, LLC to Verve Industrial Protection to reflect its focus on industrial control systems (ICS) protection for cybersecurity and compliance. The company's committment to addressing the market need for a unified asset view and interoperable security solutions to reduce overall tools and labor costs has set it apart from its peers.
Unlike security solutions that are siloed and perform specialized functions, Verve's range of solutions boasts several functions, such as asset inventory management, vulnerability assessment, patching, antivirus updating, and whitelisting, in a single platform called Verve Security Center (VSC) all enabled by innovative and safe end point management tools that provide unparalleled visibility and control within an OT environment.
"While conventional solutions offer passive anomaly detection, Verve has attracted industrial customers by customizing existing IT solutions to perform OT-specific end-point detection for superior visibility and coverage of assets," said Riti Newa, Industry Analyst. "In response to the growing demand for cybersecurity among less cyber-mature end users in manufacturing, pharmaceutical, and process industries, Verve recently introduced the VSC Version 6.0 that builds on its existing solutions, with enhanced vulnerability assessment and asset inventory functionalities to aid end users that are first-time adopters of cybersecurity solutions."
Over the last few years, Verve has outpaced the industrial cybersecurity services market's growth rate of 20.9%. For the past three years, the company's year-over-year growth has been above 50%, mainly because of the success of its differentiated platform. In addition, Verve's exceptional customer service endows it with a huge competitive advantage, which is reflected in its 95% customer retention rate.
Verve's cybersecurity offerings are easy to use and present high levels of interoperability. The company's vendor-agnostic solutions can be integrated with products from original equipment manufacturers (OEMs), such as Emerson, Honeywell, ABB, Rockwell, Schneider, and GE. Another significant advantage of Verve's solutions is that they are extremely cost effective. In addition, the automation of labor-intensive security management and the unified nature of Verve's platform eliminate the need for separate span ports and added infrastructure, thus lowering the overall cost of ownership.
"With the incorporation of NERC CIP, NIST, and IEC compliance protocols in its solutions, Verve has established a strong regional presence in the North American market," noted Riti Newa. "In a marked departure from the traditional approach of the passive anomaly detection of assets, which demands an incremental cost of infrastructure and labor, Verve has leveraged its deep domain expertise to deliver an IT-type asset view in the ICS space. This future-proof growth strategy has positioned the company for substantial growth in the near-to-long term."
Each year, Frost & Sullivan bestows this award upon the company that demonstrates excellence in growth and customer value. The award recognizes the superiority of the product/service as well as the overall customer, purchase, ownership, and service experience offered, resulting in the recipient company seeing above-market growth and greater share of wallet. The award lauds the recipient company's growth, diversification, and sustainability strategies.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
About Verve Industrial Protection
Verve Industrial Protection is the leading solution provider for industrial control cyber security and reliability. Celebrating its 25th Anniversary in 2019, Verve supports industrial clients on their most critical control system issues. From design and monitoring services, to its flagship Verve Security Center OT cyber security software platform, Verve provides turnkey reliability and cyber security in power, oil & gas, pharmaceuticals, pulp & paper, food, and many other industrial operations. Contact us at www.verveindustrial.com.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, collaborates with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, Frost & Sullivan has been developing growth strategies for the global 1000, emerging businesses, the public sector, and the investment community. Contact us: Start the discussion.
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Estefany Ariza
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E: estefany.ariza@frost.com
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