CSPs Struggle with Security and Insurance...Less the Half of Orgs Meet Cost Reduction Objectives...Global Online Sales to Reach $6.8 Trillion in 2028
CSPs Struggle with Expanding Cyber Threats, Limited Resources, and Insurability Gaps
Communications service providers (CSPs)—including cable operators, ISPs, and entertainment service providers—sit at the heart of the digital economy, delivering critical connectivity to millions of businesses and consumers. However, this position makes them prime targets for cyberattacks, with their interconnected networks and vast attack surfaces presenting significant vulnerabilities.
Adding to these challenges, CSPs often struggle to meet the stringent requirements needed to obtain comprehensive cyber insurance coverage. This dual threat of escalating cyber risks and limited insurability has left many in the sector vulnerable to both breaches and significant financial losses.
In response to this growing crisis, Cysurance, a leader in cyber insurance solutions, and ZirrusOne, a managed security service provider (MSSP) specializing in incident prevention and response, have forged a transformative partnership. Together, they are integrating robust cybersecurity measures with cutting-edge underwriting frameworks to protect CSPs from both cyber threats and the financial fallout of breaches.
“This sector is incredibly high-risk, which has made it difficult for CSPs to obtain meaningful cyber insurance,” said Kirsten Bay , CEO of Cysurance . “Through this collaboration, we’re helping CSPs not only improve their security posture but also gain the peace of mind that comes with being insurable.”
Nate Vineyard , Chief Technologist at Zirrus One , emphasized the urgency of the situation: “CSPs are uniquely targeted because they serve as the digital backbone for businesses, especially SMBs. This partnership equips them with the tools and resources to prevent incidents, respond effectively, and secure their financial stability in the event of a breach.”
Less than Half of Companies Achieve Their Cost Savings Targets --BCG
Inflation, increased barriers to trade, and relatively low global growth are among the factors currently placing tremendous pressure on business leaders and forcing firms to review and re-evaluate their costs to stay competitive and innovate. Despite these high stakes, only 48% of companies on average achieve their cost savings targets. Further, only 35% of executives report that their organizations’ approach to cost is strategic and planned, while the remaining 65% admit that their most recent cost-optimization program was an ad-hoc response to changing market conditions.
These are among the findings of a new report being published by 波士顿谘询公司 (BCG). Titled "Leading Edge: How Pioneering Companies Achieve Cost Excellence," it is informed by a survey of 770 CEOs, CFOs, and COOs from 21 countries across Europe, the Middle East, and including South Africa that BCG conducted with FT Longitude. The respondents represent companies from various industries, with annual revenues ranging from $100 million to more than $100 billion.
Global Online Retail Sales To Grow 8.9% Annually, Reaching $6.8 Trillion In 2028 -- Forrester Research
Forrester Research forecasts that total global online retail sales will grow from $4.4 trillion in 2023 to $6.8 trillion by 2028 at an 8.9% compound annual growth rate (CAGR). Their report "Global Retail E-Commerce Forecast, 2024 To 2028," provides a five-year forecast for total, online, and offline retail sales for 40 countries globally. Despite the growth in e-commerce, 76% (or $21.9 trillion) of global retail sales will still occur offline in 2028. As a result, retailers must continue to invest in omnichannel strategies that provide a seamless shopping experience, both online and offline.
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The report further states that retail e-commerce maturity varies globally. Advanced economies including the US, the UK, and South Korea are more mature due to higher internet penetration and digital literacy. As smartphone adoption and mobile commerce become more widespread, however, emerging markets in Asia Pacific, Eastern Europe, and Latin America are catching up. This rapid adaptation is transforming the global e-commerce landscape, presenting new opportunities for businesses and consumers alike.
Looking ahead, Forrester expects continued growth momentum for online retail sales globally.
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