Frost Entrust Datacard-award-write-up-final
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Entrust Datacard offers the ioTrust security solution for IoT cybersecurity. The solution provides full control over security mechanisms for IoT products, services, and deployments. It establishes a secure connected ecosystem through a three-tiered approach. The solution allows device manufacturers to embed trusted identities and facilitates secure-by-design. It offers operators strong authentication, authorization, and secure data flow capabilities. Entrust Datacard continues innovating ioTrust to address evolving device and data protection needs in IoT.
Frost Entrust Datacard-award-write-up-final
- 1. FROST & SULLIVAN BEST PRACTICES AWARD Product Leadership 2019 IOT CYBERSECURITY - NORTH AMERICA
- 2. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 2 “We Accelerate Growth” Contents Background and Company Performance ........................................................................3 Industry Challenges..............................................................................................3 Product Family Attributes and Business Impact ........................................................4 Conclusion...........................................................................................................6 Significance of Product Leadership................................................................................7 Understanding Product Leadership................................................................................7 Key Benchmarking Criteria ....................................................................................8 Best Practices Award Analysis for Entrust Datacard ........................................................8 Decision Support Scorecard ...................................................................................8 Product Family Attributes ......................................................................................9 Business Impact...................................................................................................9 Decision Support Matrix ......................................................................................10 Best Practices Recognition: 10 Steps to Researching, Identifying, and Recognizing Best Practices .................................................................................................................11 The Intersection between 360-Degree Research and Best Practices Awards.....................12 Research Methodology ........................................................................................12 About Frost & Sullivan ..............................................................................................12
- 3. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 3 “We Accelerate Growth” Background and Company Performance Industry Challenges IoT is increasingly permeating every aspect of consumer and enterprise activities. With the growth of microelectronics, ubiquitous connectivity, and predictive computing, IoT is poised for rapid growth. The future of IoT involves billions of connected devices communicating with one another regardless of the manufacturer, operating system, chipset, or physical transport mode. IoT cybersecurity, however, has not kept up with the rapid pace of innovation and deployment, creating substantial safety and economic risks. Whether malicious or accidental, compromised IoT devices can pose significant risks to consumers, businesses and societies. Not only can cybersecurity attacks cause operational disruptions, breached devices can also be commandeered to launch cybersecurity attacks on other devices and systems. IoT creates new cybersecurity challenges that cannot be adequately addressed by traditional IT cybersecurity technologies and approaches. While the basic concepts of protection – such as digital certificates, hardware-based trust, and data encryption – remain, memory and processor limitations, data velocity, and device volumes present unique challenges in IoT cybersecurity. Therefore, IoT must be secured by using efficient technologies that are purpose-built for the machine environment. Technological mega trends, such as edge, cloud and fog computing, virtualization, software-defined networking (SDN), 5G, distributed ledger technologies (DLT), and digital and crypto payments place new demands on cybersecurity that must be addressed to help realize the benefits of IoT. Providing “security-at-the-speed-of-business” requires consistent new product innovation and visionary leadership in the dynamic IoT markets. Therefore, in addition to securing the emerging communication and collaboration mechanisms in the IoT, cybersecurity solution providers must themselves invest in new technologies to enhance the performance of their solutions. Holistic and tiered-offerings that can provide the technological foundations to address the full spectrum of IoT device provisioning and operational requirements are a key market need in IoT cybersecurity. Creating a trust framework for IoT starts with establishing immutable device identities to prevent untrusted devices or applications from communicating with other devices or components on the network. Other important attributes for effective IoT security include: 1) the ability to secure device identities and data, 2) secured data acquisition and ingestion with policy-driven equipment data management, 3) supporting deep integration of security into modern DevOps to maintain pace with continuous software development and updates, and 4) facilitating secure deployment of edge computing and security management capabilities. It is simply not enough to provide enterprise customers with digital certificates and expect them to develop whole, workable solutions for their IoT cybersecurity needs (aka- the “cert pump” model). Frost & Sullivan firmly believes that providers that can offer fully integrated, managed and consultative solutions for IoT cybersecurity will be positioned
- 4. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 4 “We Accelerate Growth” favorably in the long run in the IoT cybersecurity markets. While open-source software can be used to support initial deployments, customers must prefer working with specialized providers to ensure timely and effective technology upgrades. IoT, as such, is rapidly migrating to supporting autonomous operations through increased emphasis on generating, collecting, processing and using sensor data to perform business functions in real time. The consequences of cybersecurity violations can be severe in such scenarios, making it critical that highly proven, modular and agile solutions are used for IoT cybersecurity. Product Family Attributes and Business Impact Entrust Datacard is a leading provider of trusted identity and secure transaction technologies. The company offers solutions ranging from the physical world of financial cards, passports and identity cards, to the digital realm of authentication, certificates and secure communications. For IoT, Entrust Datacard offers the ioTrust security solution that provides IoT value-chain participants with full control of the security mechanisms in their IoT products, services and deployments. The key success factors for ioTrust are discussed below. Product Capabilities The ioTrust IoT security solution offers a comprehensive, standards-based trust model for IoT identity and cryptography management. It puts the IoT value-chain participants in full control of the security mechanisms of their IoT products, services and deployments. Adopting a three-tiered approach, ioTrust aligns with the security and enablement needs of manufacturers and operators to establish a secure connected ecosystem. With ioTrust, IoT device manufacturers can embed trusted identities on their devices, thus facilitating Secure-by-Design implementations critical to IoT security. For device operators, ioTrust offers strong authentication, authorization and bi-directional data flow capabilities to securely operationalize devices using the embedded device trust anchors and device information. Moreover, it offers identity and data security to operators for managing the increased number of relationships between devices, applications and users and enable secure interactions within their operational environment. New Product Innovation Entrust Datacard continues to enhance the capabilities of ioTrust to address the device and data protection needs of the IoT. Examples of recent and upcoming new product initiatives for ioTrust include: Securing software containers through edge ID orchestration and enablement of cybersecurity functions such as dynamic enrolment and secure certificate lifecycle management;
- 5. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 5 “We Accelerate Growth” Enhanced cybersecurity for brownfield industrial deployments by securing legacy protocols and devices; and Technology and deployment simplification through the use of embeddable agents and libraries providing secure service discovery and automated device configuration. The growing need for enterprise customers to move from customized implementations that struggle to scale or interoperate easily presents additional opportunities for the company to add value by delivering a structured, organized and auditable security framework. Deployment Versatility ioTrust is implemented in software and can support different types of IoT deployments in an effective and economical manner. It can also be used to secure brownfield IoT deployments via its edge gateway offerings. ioTrust components can be deployed as on premise, hybrid or cloud implementations. It is important to note that while ioTrust can leverage hardware security elements such as secure elements (SE), Trusted Platform Modules (TPMs) and hardware security modules (HSMs), the solution is driven by software which enables Entrust Datacard to be more agile and flexible for cryptographic security in IoT. Furthermore, the Appliance, Managed Services and On-premise deployment models for ioTrust allow Entrust Datacard to address the unique deployment needs of its customers. A proven track record in supporting the cybersecurity requirements of a diverse range of customers across different industry verticals including industrial, automotive, smart manufacturing, and telecommunication, is a clear testament to ioTrust’s versatility and customization capabilities. Strategic Roadmap The product roadmap for ioTrust is aligned to address the emerging cybersecurity needs in IoT. For example, Entrust Datacard is expected to support code signing services for IoT firmware and application updates. The company’s recent acquisition of Safelayer Secure Communications S.A will help augment its capabilities for digital signing services. Entrust Datacard is also expected to deliver enhancements to edge ID services featuring distributed issuance and management models for micro-services cybersecurity. Greater focus on data-driven IoT opportunities through secure data acquisition features is also expected from Entrust Datacard. The recent acquisition of nCipher Security’s general purpose Hardware Security Module business from Thales will enable the company to support high assurance use cases based on a range of next-generation digital transformation tools such as the IoT, virtual payments and blockchain/DLT. Frost & Sullivan believes management’s focus on deriving greater synergies between its core PKI team and the IoT cybersecurity teams will significantly enhance the company’s market position and associated growth opportunities.
- 6. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 6 “We Accelerate Growth” Competitive Differentiation The competitive landscape in IoT cybersecurity is comprised of endpoint or library-focused companies and traditional certificate or root-of-trust providers. Dependency on the availability of hardware components dedicated to cybersecurity tends to limit the deployment flexibility for Entrust Datacard competitors. The ability to maintain strong, dedicated roots of trust – versus using shared roots – to deliver firm cybersecurity assurance is a key competitive advantage for Entrust Datacard. Entrust Datacard is not limited to offering only the client libraries – the company offers a full stack solution for IoT cybersecurity. Frost & Sullivan’s research indicates that Entrust Datacard is among a small group of companies with the scale, sophistication, systems, and expertise needed to deliver end-to-end security in IoT. Unlike competing solutions that require considerable time and monetary investments in implementing and managing cybersecurity deployments, the managed infrastructure- centric approach for ioTrust leads to considerable ease of IoT cybersecurity lifecycle management and has resonated well with enterprise customers. Entrust Datacard has had notable wins against traditional PKI vendors that are focused on purely cloud issuance and are not actively assisting enterprise customers with important processes such as key management or device strategies. With an increased focus on adopting a solutions- architect approach within its sales organization, Entrust Datacard should maintain its growth momentum in the IoT cybersecurity markets. The leading IoT platforms all have a basic set of IoT cybersecurity enablement offerings. Entrust Datacard participates in the partnership programs of the leading cloud-based IoT platform providers and offers its software stack in the leading application marketplaces in a pre-integrated manner for ease of deployment. Therefore, engagement with the platform providers is a good go-to-market strategy for Entrust Datacard and may not necessarily be a direct competitive threat for the company. Overall, an innovative product, the PKI brand, and the stability of the company are the key competitive differentiators for Entrust Datacard. Conclusion Entrust Datacard continues to leverage decades of expertise in cryptography, embedded systems and trusted infrastructures to ensure the right security level for devices, applications, systems and users in IoT. Comprehensive product capabilities, strong focus on new product innovation, exceptional product customization capabilities and deployment flexibility are the key highlights of the ioTrust IoT cybersecurity solution. Frost & Sullivan proudly presents Entrust Datacard with the 2019 Product Leadership award in recognition of its impressive achievements.
- 7. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 7 “We Accelerate Growth” Significance of Product Leadership Ultimately, growth in any organization depends upon customers purchasing from a company and then making the decision to return time and again. A comprehensive product line, filled with high-quality, value-driven options, is the key to building an engaged customer base. To achieve and maintain product excellence, an organization must strive to be best-in-class in three key areas: understanding demand, nurturing the brand, and differentiating from the competition. Understanding Product Leadership Demand forecasting, branding, and differentiating all play a critical role in finding growth opportunities for your product line. This three-fold focus, however, must be complemented by an equally rigorous focus on pursuing those opportunities to a best-in-class standard. Customer communications, customer feedback, pricing, and competitor actions must all be managed and monitored for ongoing success. If an organization can successfully parlay product excellence into positive business impact, increased market share will inevitably follow over time.
- 8. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 8 “We Accelerate Growth” Key Benchmarking Criteria For the Product Leadership Award, Frost & Sullivan analysts independently evaluated two key factors—Product Family Attributes and Business Impact—according to the criteria identified below. Product Family Attributes Criterion 1: Match to Needs Criterion 2: Reliability and Quality Criterion 3: Product/Service Value Criterion 4: Positioning Criterion 5: Design Business Impact Criterion 1: Financial Performance Criterion 2: Customer Acquisition Criterion 3: Operational Efficiency Criterion 4: Growth Potential Criterion 5: Human Capital Best Practices Award Analysis for Entrust Datacard Decision Support Scorecard To support its evaluation of best practices across multiple business performance categories, Frost & Sullivan employs a customized Decision Support Scorecard. This tool allows our research and consulting teams to objectively analyze performance, according to the key benchmarking criteria listed in the previous section, and to assign ratings on that basis. The tool follows a 10-point scale that allows for nuances in performance evaluation. Ratings guidelines are illustrated below. RATINGS GUIDELINES The Decision Support Scorecard is organized by Product Family Attributes and Business Impact (i.e., These are the overarching categories for all 10 benchmarking criteria; the definitions for each criterion are provided beneath the scorecard.). The research team confirms the veracity of this weighted scorecard through sensitivity analysis, which confirms that small changes to the ratings for a specific criterion do not lead to a significant change in the overall relative rankings of the companies.
- 9. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 9 “We Accelerate Growth” The results of this analysis are shown below. To remain unbiased and to protect the interests of all organizations reviewed, we have chosen to refer to the other key participants as Competitor 2 and Competitor 3. Measurement of 1–10 (1 = poor; 10 = excellent) Product Leadership Product Family Attributes Business Impact Average Rating Entrust Datacard 9.5 9.5 9.5 Competitor 2 8.5 8.5 8.5 Competitor 3 8.2 8.2 8.2 Product Family Attributes Criterion 1: Match to Needs Requirement: Customer needs directly influence and inspire the design and positioning of the product family. Criterion 2: Reliability and Quality Requirement: Products consistently meet or exceed customer expectations for performance and length of service. Criterion 3: Product/Service Value Requirement: Products or services offer the best value for the price, compared to similar offerings in the market. Criterion 4: Positioning Requirement: Products or services address unique, unmet need that competitors cannot easily replicate or replace. Criterion 5: Design Requirement: The product features an innovative design, enhancing both visual appeal and ease of use. Business Impact Criterion 1: Financial Performance Requirement: Overall financial performance is strong in terms of revenues, revenue growth, operating margin, and other key financial metrics. Criterion 2: Customer Acquisition Requirement: Product strength enables acquisition of new customers, even as it enhances retention of current customers. Criterion 3: Operational Efficiency Requirement: Staff is able to perform assigned tasks productively, quickly, and to a high quality standard.
- 10. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 10 “We Accelerate Growth” Criterion 4: Growth Potential Requirements: Product quality strengthens brand, reinforces customer loyalty, and enhances growth potential. Criterion 5: Human Capital Requirement: Company culture is characterized by a strong commitment to product quality and customer impact, which in turn enhances employee morale and retention. Decision Support Matrix Once all companies have been evaluated according to the Decision Support Scorecard, analysts then position the candidates on the matrix shown below, enabling them to visualize which companies are truly breakthrough and which ones are not yet operating at best-in-class levels. High Low Low High BusinessImpact Product Family Attributes Entrust Datacard Competitor 2 Competitor 3
- 11. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 11 “We Accelerate Growth” Best Practices Recognition: 10 Steps to Researching, Identifying, and Recognizing Best Practices Frost & Sullivan analysts follow a 10-step process to evaluate Award candidates and assess their fit with select best practice criteria. The reputation and integrity of the Awards are based on close adherence to this process. STEP OBJECTIVE KEY ACTIVITIES OUTPUT 1 Monitor, target, and screen Identify Award recipient candidates from around the globe Conduct in-depth industry research Identify emerging sectors Scan multiple geographies Pipeline of candidates who potentially meet all best- practice criteria 2 Perform 360-degree research Perform comprehensive, 360-degree research on all candidates in the pipeline Interview thought leaders and industry practitioners Assess candidates’ fit with best-practice criteria Rank all candidates Matrix positioning of all candidates’ performance relative to one another 3 Invite thought leadership in best practices Perform in-depth examination of all candidates Confirm best-practice criteria Examine eligibility of all candidates Identify any information gaps Detailed profiles of all ranked candidates 4 Initiate research director review Conduct an unbiased evaluation of all candidate profiles Brainstorm ranking options Invite multiple perspectives on candidates’ performance Update candidate profiles Final prioritization of all eligible candidates and companion best-practice positioning paper 5 Assemble panel of industry experts Present findings to an expert panel of industry thought leaders Share findings Strengthen cases for candidate eligibility Prioritize candidates Refined list of prioritized Award candidates 6 Conduct global industry review Build consensus on Award candidates’ eligibility Hold global team meeting to review all candidates Pressure-test fit with criteria Confirm inclusion of all eligible candidates Final list of eligible Award candidates, representing success stories worldwide 7 Perform quality check Develop official Award consideration materials Perform final performance benchmarking activities Write nominations Perform quality review High-quality, accurate, and creative presentation of nominees’ successes 8 Reconnect with panel of industry experts Finalize the selection of the best-practice Award recipient Review analysis with panel Build consensus Select recipient Decision on which company performs best against all best-practice criteria 9 Communicate recognition Inform Award recipient of Award recognition Present Award to the CEO Inspire the organization for continued success Celebrate the recipient’s performance Announcement of Award and plan for how recipient can use the Award to enhance the brand 10 Take strategic action Upon licensing, company is able to share Award news with stakeholders and customers Coordinate media outreach Design a marketing plan Assess Award’s role in future strategic planning Widespread awareness of recipient’s Award status among investors, media personnel, and employees
- 12. BEST PRACTICES RESEARCH © Frost & Sullivan 2019 12 “We Accelerate Growth” The Intersection between 360-Degree Research and Best Practices Awards Research Methodology Frost & Sullivan’s 360-degree research methodology represents the analytical rigor of our research process. It offers a 360-degree-view of industry challenges, trends, and issues by integrating all 7 of Frost & Sullivan's research methodologies. Too often companies make important growth decisions based on a narrow understanding of their environment, leading to errors of both omission and commission. Successful growth strategies are founded on a thorough understanding of market, technical, economic, financial, customer, best practices, and demographic analyses. The integration of these research disciplines into the 360- degree research methodology provides an evaluation platform for benchmarking industry participants and for identifying those performing at best-in-class levels. About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages more than 50 years of experience in partnering with Global 1000 companies, emerging businesses, and the investment community from 45 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com. 360-DEGREE RESEARCH: SEEING ORDER IN THE CHAOS