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COVID-19 crisis will lead to a new period of rapid, transformative growth and prosperity: Studio 44 reveal 10 key insights for business leaders

Stockwood Strategy

As we recover from the COVID pandemic, environmental, social and technological trends are converging, leading to rapid, disruptive and transformative change, the likes of which we have not experienced for more than a generation, argues Simon Sear, CEO and founder of Studio 44. Leaders need to ensure that they and their organisation are ready to innovate and transform. Sear said: “The COVID crisis will lead to a new period of rapid, transformative growth and prosperity just like the First World War led to the roaring twenties, the Second World War to the golden age of capitalism and the recession of the late 1970s to the expansive growth of the 1980s. Spring always follows winter.” Combining with this natural economic cycle are major tailwinds, such as society’s demand for more progress on racial and gender equality, social mobility and mental wellbeing, Studio 44 argues. Governments and wider society have reached a tipping point on progress with environmental sustainability, while technologies including artificial intelligence (AI), hyper-automation and the Internet of Things (IoT) are supercharging change. These converging trends will result in rapid, disruptive and transformative change, the likes of which we have not experienced for more than a generation. Sear added: “Economists are predicting record growth and leaders need to ensure that their organisations are bold, more agile and quicker to change than at any time in history in order to deliver competitive performance in terms of cost efficiency, revenues and return on capital” Studio 44 has identified ten key insights by working with leaders during the challenging times of COVID, ranging from experimentation to mindset, technology to organisational culture. Sear concluded: “The crisis has highlighted many insights into how leaders can prepare for this next phase of growth and the journey ahead. They are at a once in a generation inflection point, opportunity is coming, and they need to ensure that they and their organisation are ready to innovate and transform.” Here is a summary of Studio 44’s top ten insights: Create a common mission: Often, in non-crisis times, organisations pay lip service to their mission. It’s written down, but no one really buys it. If the crisis did one thing very well, it was to provide a focus. The need for speed: The pace of change had been increasing, but the crisis supercharged this. Leaders need to focus their organisation on being able to respond quicker and with more agility than ever before. Change the corporate mindset: Many companies have long-held beliefs that limited their ability to respond and transform assumptions that need to be put in the bin. Make bold investments: The successful businesses of the last 12 months were the ones that had historically invested in new ways of working and bold new propositions. Experiment: In a decade that will be defined by rapid change and transformation, inexpensive, fast experimentation needs to be in the DNA of an organisation. Allocate your best people to your best opportunities: The pace of change is becoming ever faster and the war for talent continues to heat up. Leaders need to balance the need for transparency and fairness with quickly getting the right people in the right roles to optimise the chances of an organisation’s success. Teach more than new digital skills: In building on the successes of working from home and a period of change and disruption, it's crucial to teach employees new cognitive strategies and behaviours to enable them to adapt. Break the silos: During the COVID crisis innovative leaders gathered a multi-skilled team, incentivised them all for success in the same way and gave them the space to make it happen. Many leaders are now thinking about how they can maintain this kind of operating model and not return to older ways of working and the inefficiencies they create. Keep communicating: The pace of disruption and uncertainty in the next decade means that people will often feel unsettled and will seek reassurance. These are the same needs team members faced during the COVID crisis. Practice stakeholder capitalism: Leaders need to take a cooperative model into the next period of transformation. They need to take a long-term view, to have a strategy that not only ensures financial performance in the short term, but invests, and is seen to invest, in longer-term positive outcomes for all stakeholders. About Studio 44 Studio 44 is creating the future. It is a next generation consultancy that helps senior business leaders create step-out growth, disrupt markets and transform their culture and ways of working. It brings together smart people from tech, the arts, business and science with a common mission to create growth for clients with a focus on people and the planet. By bringing diverse thinking and the spirit and energy of a start-up to corporate clients Studio 44 radically shifts the operating model of a traditional consultancy. Contact Details Studio 44 Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://studio44.io/

May 19, 2021 05:00 AM Eastern Daylight Time

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Digital transformation evades businesses that mismanage data

Stockwood Strategy

Data is poorly understood, inadequately valued and badly managed by global businesses costing them and their investors billions of dollars every year, according to a report published today by Anmut, the data valuation specialists. This is a big problem because it means most businesses are running on data that isn’t fit for purpose. The Anmut Data Leadership Report compiled data and anecdotal evidence from almost 100 Chief Data Officers from organisations headquartered on five continents whose collective annual revenues total over $1 trillion. The report finds that 91% of business leaders believe data is critical to the success of their businesses. However, only one in three (34%) of their companies manage their businesses’ data assets with the same disciplines as other business assets. These companies spend their allocated data management budget on creating value from their data that in turn helps them scale their businesses and develop their strategies. The remaining two thirds (66%) are using half of their data budgets to fix problems and errors identified within the data itself. According to the report, the average global business spends between 4% and 7% of annual operating expenses on managing its data. For a global financial services brand, that amounts to as much as $1.5-3 billion annually. “Time and again we’re seeing international businesses and household name brands coming under fire for reasons that seem preventable with hindsight,” says Herman Heyns, CEO of Anmut. "Those that succeed do so because they really understand the value of their data, and therefore prioritise and manage it well." Three quarters of respondents (76%) say their businesses are investing in large-scale data and digital transformation strategies. And, 63% say data is more critical than technology to achieve business transformation. Yet, Anmut's report also finds that technology investment regularly overshadows data investment. Technology gets three times the attention (73%) and five and a half times (88%) the budget as data. This is in spite of the fact that technology is dependent on reliable data to run well. Heyns adds: “The preference to invest in technology over data throws up a fascinating question about what digital transformation really means for businesses all over the world. Digital transformation is a term that’s used everywhere, in every annual report and corporate strategy document. Digital transformation is what companies do to become data-driven. The advances many companies make might be digital in name, but to create the transformation they're aiming for, they cannot lose sight of the data.” Chief Data Officers (CDOs) interviewed for the report regularly cite the challenge to make data something that everyone in their businesses understands, values and knows how to manage. The report finds that one third of company boards (33%) don’t consider data a ‘material asset’. 9 in 10 CDOs (87%) say putting a monetary value on data would enable people within the business to manage that data better. Heyns adds: “A critical issue for businesses’ data leaders is winning senior buy-in. When the board doesn’t appreciate the value of data to a company’s future performance, it’ll lack investment further down the business. That’s where data valuation comes into play. When the value of data assets are set out in pounds and pence, data can be thought of as a business asset. Then it climbs up the food chain, gets taken more seriously, impacts C-suite decision-making more readily, and receives greater investment. When data is treated like any other asset by assigning a monetary value to it, businesses can make better strategic decisions.” Anmut, whose clients include Smith & Nephew and Highways England, advises international companies across all sectors on how to manage, measure and value the data within their businesses. Intangible assets make up 90% of the total market value of the world’s largest companies. Anmut’s most conservative estimates put data at 20% to 30% of that. With only a third of companies managing that value well, it’s not a surprise that companies who do manage data well - the FANGS - have become the most valuable companies in history in the shortest time. In March, the UK’s Department for Digital, Culture, Media & Sport (DCMS) published its report: Increasing Data Access across the UK Economy in which they commit to creating a framework within which the government may have the ability to make interventions into private and third sector organisations to unlock the full value of their data. DCMS follows governments in several leading economies including the US and Germany that are taking the lead to enforce better data management in business. About Anmut Consulting Anmut is the only data asset management company that makes the value of data unignorable, comparable and manageable for businesses investing in digital transformation. Anmut believes in the power of data-driven decisions to make people’s lives better, be they customers, employees, suppliers, shareholders, local communities or future generations. Contact Details Anmut Bilal Mahmood +44 7714 007257 b.mahmood@stockwoodstrategy.com Company Website https://www.anmut.co.uk/

May 19, 2021 04:00 AM Eastern Daylight Time

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ThreatModeler Software, Inc Wins Two Categories by Global Infosec Awards for 2021

ThreatModeler Software, Inc.

ThreatModeler Software, Inc is proud to announce that it has won the following two categories from Cyber Defense Magazine, the industry's leading electronic information security magazine exclusively for RSA Conferences: Most Innovative in Cloud Security Most Innovative in Threat Modeling The 9th annual Global InfoSec Awards were announced during the opening of the RSA Conference on May 17, 2021. We have been selected by CISSP, FMDHS, CEH, certified security professionals based on their independent reviews of the products/services. Innovation is the driving force here at Threatmodeler and believe this is what sets us apart to be the leader in our industry category. “We are very excited to see continuing recognition for our automated threat modeling platform and the innovation we bring to cyber security”, said Archie Agarwal, Founder and CEO of ThreatModeler Software, Inc. “We’re honored to be selected by a panel of expert judges around the globe from over 3,000 companies”. “These winners are the most innovative, forward thinking and proactive cyber security companies and service providers on the planet who are working to bring tomorrow’s cybersecurity solutions to market, today,” said Gary S. Miliefsky, Publisher of Cyber Defense Magazine. About Cyber Defense Magazine Infosec Awards This is Cyber Defense Magazine's ninth year of delivering and honoring the most innovative and valuable innovator for any startup, early-stage, later-stage, or public companies in the information security space who have a unique and compelling value proposition for their product or service. Learn more at https://cyberdefenseawards.com/ About ThreatModeler Software, Inc. ThreatModeler is an automated platform that provides a sustainable, self-service threat modeling practice for applications and infrastructure that evolves as your infrastructure grows. ThreatModeler encourages collaboration through its simple process flow diagram-based functionality that's easy to use in the creation of threat models that identify, prioritize and mitigate threats, while communicating them broadly. ThreatModeler integrates with JIRA, Jenkins, and Azure Boards and Pipelines, with bidirectional web services API also unifying stakeholders in collaboration. Teams are empowered to code fearlessly and deliver new products with security built-in as early as the design phase, which is based on global security and compliance standards. Click here to schedule a live demo with a threat modeling expert. Contact Details ThreatModeler Software, Inc Sarah Chan +1 201-266-0510 marketing@threatmodeler.com Company Website https://threatmodeler.com/

May 18, 2021 11:00 AM Eastern Daylight Time

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Lack Of Long-Term Care Planning Forces Retirees To The Poverty Level For Assistance by Jennifer Lang Financial Services

Jennifer Lang Financial Services, LLC

Contact Details Jennifer Lang Financial Services, LLC. Jennifer Lang +1 877-487-8926 mail@jenniferlangfinancialservices.com Company Website https://www.jenniferlangfinancialservices.com

May 18, 2021 10:05 AM Eastern Daylight Time

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TRUST SCIENCE PLEDGE CALLS FOR PUBLIC TO ENGAGE IN SCIENTIFIC LITERACY

International Day of Light Steering Committee

After a year in which scientific breakthroughs are helping countries return to a sense of normality, a new pledge offers the general public a path to draw attention to the importance of scientific literacy. The Trust Science pledge, a worldwide campaign to promote support for the scientific process and acknowledge the many benefits of science for society is a first step to recognizing the vital role science plays in improving quality of life and combatting scientific misinformation. Scientific literacy, or the understanding of science, its methodology, observations and theories, starts with appreciating the wonder and advancements of science. One current example is the progress made with vaccines, but the past year has seen many other scientific developments, specifically in light science. These include advances in high-speed communications enabling families to stay connected through videoconferencing, faster access to online media content and breakthroughs in astronomy and planetary exploration such as NASA’s Perseverance Rover landing on Mars in February. With the rise of disinformation, declaring support for the scientific process provides a concrete way to stand up for science and the benefits it brings to society. The pledge, launched in celebration of the UNESCO International Day of Light on 16 May, aims to promote support for the scientific process and to acknowledge the many benefits of science for society. Nobel and Breakthrough laureates, scientific leaders, CEOs and everyday citizens worldwide have signed the pledge, taking a significant step in building scientific literacy and trust in the scientific method. “We all share responsibility for seeking out trustworthy scientific information,” said Dr. Jess Wade, a physicist working in the Department of Materials at Imperial College London. “Before sharing information about a scientific claim, we can check the source of claims, research the credibility of the author and double-check the facts with fact-checking organizations.” The pledge complements other strategies for identifying fact from fiction. A first step in achieving scientific literacy is the careful questioning of any statement that is positioned as a scientific fact. Below are three ways the general public can check the validity of something they may have read, heard or seen online as a fact: 1. Embrace initial skepticism and check the source of the claims. 2. Watch out for rhetoric. A credible author will cite facts and sources and the results of scientific research rather than “science” itself. 3. Double-check the facts with fact-checking organizations. The Trust Science campaign is organized by the IEEE Photonics Society, SPIE, the international society for optics and photonics, and The Optical Society (OSA), together with the International Day of Light Steering Committee. To sign the pledge and to learn more, please go to https://www.trust-science.org Contacts For questions about how you can engage with the campaign, please contact: info@trust-science.org For media inquiries, please contact: pr@trust-science.org Social media: please share using #TrustScience and #LightDay2021 Social media links: Facebook; Instagram; Twitter About the International Day of Light The International Day of Light (IDL) is a worldwide initiative that provides an annual focal point for the continued appreciation of light and the role it plays in science, culture and art, education and sustainable development, and in fields as diverse as medicine, communications and energy. The International Day of Light is administered from the International Basic Science Programme (IBSP) of UNESCO by a Steering Committee that includes representatives from a broad range of international partners: the American Institute of Physics (AIP), the American Physical Society (APS), Bosca, the China International Optoelectronic Exhibition (CIOE), Chinese Optical Society (COS), the European Centres for Outreach in Photonics (ECOP), the European Photonics Industry Consortium (EPIC), the European Physical Society (EPS), the Illuminating Engineering Society (IES), the International Centre for Theoretical Physics (ICTP), the IEEE Photonics Society (IPS), the International Commission on Illumination (CIE), lightsources.org - the international network of accelerator based light sources, Light: Science and Applications, The Optical Society (OSA), Tampere University, SPIE, the International Society for Optics and Photonics, SESAME, Signify, Tampere University, Thorlabs, Transitions, the Université de Franche-Comté and Velux. For information about the International Day of Light, please visit www.lightday.org Contacts for IDL: John Dudley and Joseph Niemela 2021 Steering Committee Chairs Email: contact@lightday.org Bethany Downer 2021 Communications Coordinator Email: contact@lightday.org Media Contact for Trust Science: pr@trust-science.org About IEEE Photonics Society The IEEE Photonics Society is the professional home for a global network of scientists, engineers and allied professionals who advance laser, optoelectronics, and photonics technology. As a technical society representing the IEEE, it is a vital part of the world’s largest technical professional organization of more than 400,000 members dedicated to advancing technology for the benefit of humanity. Through its highly cited publications, conferences, technology standards, educational activities, and humanitarian initiatives, the IEEE Photonics Society provides its members in more than 160 countries the opportunity to grow professionally and stay on the forefront of transformational breakthroughs in photonics. PhotonicsSociety.org About SPIE SPIE, the international society for optics and photonics, was founded in 1955 to advance light-based technologies. Serving more than 255,000 constituents from 183 countries, the not-for-profit society advances emerging technologies through interdisciplinary information exchange, continuing education, publications, patent precedent, and career and professional growth. SPIE annually organizes and sponsors approximately 25 major technical forums, exhibitions, and education programs in North America, Europe, Asia, and the South Pacific. In 2020, SPIE provided more than $5 million in support of education and outreach programs. www.spie.org About The Optical Society Founded in 1916, The Optical Society (OSA) is the leading professional organization for scientists, engineers, students and business leaders in light science and technology. The society serves over 432,000 customers and 22,000 members from more than 100 countries who fuel discoveries, shape real-life applications and accelerate achievements in the field. OSA provides quality research, inspired interactions and dedicated resources for its extensive global network of optics and photonics experts through world-renowned publications. For more information, visit osa.org. Contact Details pr@trust-science.org +1 703-907-0010 pr@trust-science.org Company Website https://www.trust-science.org

May 18, 2021 09:03 AM Eastern Daylight Time

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M Moser Associates Launches New Office in Denver, CO

M Moser Associates

M Moser Associates, a global architecture, design and engineering firm, today announced the opening of its Denver, CO office. This move is inspired by the region’s economic growth and surging client demand for business-centric architecture and design solutions. M Moser has created holistic, human-centric spaces for many of the world’s most successful companies globally over the past 40 years. “Denver is an attractive regional hub given its central location in the U.S., the access it provides to a deep pool of talent, and its rich history in modern office design” said John Sellery, Group Managing Director at M Moser and proud Denver resident. “The market has become a magnet for many of M Moser’s high-growth clients and industries — from technology and science, healthcare, oil and gas, aerospace and more — that require a new approach to architecture and design — one that seamlessly integrates the physical, digital, and social needs of their employees.” The Denver office will be run by Eric Lind (Director), a self-proclaimed Denver “transplant native” living in the city for more than 30 years. He is partnering with Laura Walsh (Senior Associate, Client Services), a third generation Coloradan who has lived in Denver her entire life. Together, they bring a wide variety of expertise in architecture and design along with a deep understanding of the region’s culture and business environment, and a true appreciation for the lifestyle that Denver provides. In 2019, Forbes ranked Denver the fourth best city in the country for business and careers, and the region consistently ranks as a top place to live. M Moser’s move also comes at a time when workplaces are broaching a return-to-the-office following a year of major changes in how, when and where people work. The region’s steadfast commitment to work-life balance and employee wellbeing makes it a fertile ground for designing world-class environments and strategies for dynamic, fast-growing companies. “People who live in and around Denver place a premium on the connection to the outdoors and the natural beauty of their physical surroundings — both of which heavily influence how we design to attract the best and brightest talent in the area,” noted Lind. “Whether gazing at the Rocky Mountains from your office window or venturing out for a hike, our relationship with nature and how it defines workplace cultures throughout the city is what makes our job so special and rewarding.” The entrepreneurial and experimental mindset that drives success in the Mile High City aligns with M Moser’s approach to design explorations and helping organizations and their employees realize their growth potential. With a local team of long-time residents supported by the collective creativity of the global organization, M Moser Denver is positioned to make an indelible impact on the direction of architecture, design, and client service in the market. M Moser’s Denver offices are located at 1001 Bannock Street, Suite 231, Denver, CO. For more information on the firm and career opportunities, visit https://www.mmoser.com. M Moser Associates is a global architecture, design, strategy and delivery firm with more than 1,000 professionals networked across Asia, India, Europe, and the Americas. Since 1981, we have helped transform organizations large and small as they’ve expanded locally and globally, providing solutions that meet the unique needs of their business and their people. Today, work happens everywhere, and the purpose of the office and the role it serves for employees is evolving. We believe that now, more than ever, a company’s physical workplace is a critical resource for creation, socialization and culture building. At M Moser, we work as one integrated team to align the physical, social and digital elements of your workplace and create healthy, agile and resilient virtual and physical spaces where people can connect, collaborate and do their best work – wherever they may be. To learn more about our team and how we work with clients and industry partners to create dynamic, resilient and human-centric environments please visit mmoser.com. Contact Details M Moser Associates, North America Mica Guitron +1 415-279-7305 micag@mmoser.com Company Website https://www.mmoser.com/en/

May 18, 2021 09:00 AM Eastern Daylight Time

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SullivanCotter Names New Independent Members to its Board of Directors

SullivanCotter

SullivanCotter, the nation’s leading independent consulting firm in the assessment and development of total rewards programs, workforce solutions, and technology and data products for the health care industry and not-for-profit sector, is pleased to announce the addition of five independent advisors to the firm’s Board of Directors. “While our firm continues to expand and evolve amidst a number of unprecedented industry changes, advancing our strategic plan to help better serve the dynamic and unique needs of our clients remains a top priority. By inviting an accomplished group of Independent Directors to join our Board, we hope to leverage their strategic thinking, market knowledge, and many years of combined experience as we move forward into 2021 and beyond,” said Ted Chien, President and CEO, SullivanCotter. In an effort to prioritize best practices in governance, information technology, financial and human capital development, and diversity, equity and inclusion, SullivanCotter welcomes the following Independent Directors to the Board: Gina Alexander – Current Chief Financial Officer for AlixaRx, a privately-held, technology-enabled pharmacy services company serving the long-term care and corrections market. Brian Dunn – An experienced consultant who retired as the Chairman of McLagan and the CEO of Performance, Reward and Talent at Aon Consulting. Frances Ferguson – An accomplished C-Suite executive with more than 25 years of experience who most recently served as Group Executive, Managing Director and Chief Administrative Officer of the Financial Markets and Treasury Services Sector operations at BNY Mellon Bank. Paul Keckley – Managing Editor of The Keckley Report, health care policy analyst, and widely known industry expert who advises health care organizations on long-term growth, sustainability, and advocacy strategies. Robert Oberrender – A decorated financial executive who recently retired as the Chief Investment Officer and Treasurer of UnitedHealth Group in October 2018. As SullivanCotter continues to innovate through its performance-focused advisory services and growing suite of technology, survey and data products, these new members will play a pivotal role in providing the additional insight, experience, and external perspective needed to support business strategy, ensure organizational growth, and maintain independence. To learn more about SullivanCotter’s Board of Directors, visit us at SullivanCotter.com or call 888.739.7039. About SullivanCotter SullivanCotter partners with health care and other not-for-profit organizations to understand what drives performance and improve outcomes through the development and implementation of integrated workforce strategies. Using our time-tested methodologies and industry-leading research and information, we provide data-driven insights, expertise, data and technology products to help organizations align business strategy and performance objectives – enabling our clients to deliver on their mission, vision and values. Contact Details SullivanCotter Becky Lorentz +1 314-414-3719 beckylorentz@sullivancotter.com Company Website https://sullivancotter.com

May 18, 2021 08:00 AM Central Daylight Time

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Climate & Capital and Science4Data launch Climate Media Signal, the first AI- driven market media intelligence platform

Science4Data

Climate & Capital Media (Climate & Capital), a global media organization dedicated to driving climate action, and Science4Data, an advanced AI-driven analysis company, are partnering to introduce Climate Media Signal, the first public AI platform analyzing ESG and climate media trends using the world’s most advanced data tools. The partnership combines Climate & Capital’s pioneering climate journalism with Science4Data’s proprietary analysis of climate and ESG related trends, sentiment and risk. “We worked with Climate & Capital Media to create Climate Media Signal to help clients anticipate and get ahead of news trends and introduce intelligence on top emerging trends facing businesses,” says Tsveta Petrova, a Columbia University researcher who originally partnered with Science4Data as Eurasia Group’sData and Analytics practice leader. Now Petrova is helping Science4Data develop several key ESG initiatives. “We know that media sentiment is a key driver of business and policy. ESG, including climate, is one of today’s most important trends to monitor closely,” Petrova continues. Climate Media Signal uses intelligent crawlers to curate, tune and collect climate and ESG semantic information from tens of thousands of media sites. Articles are then analyzed by advanced Natural Language Processing and Machine Learning Algorithms to derive insights and best-in-class visualization and integration analysis wherever needed. Through the partnership, readers will have the opportunity to interactively explore the contextual language of climate across targeted news and social media channels. ( Click here to learn more.) “With the distorting effects of social media and the fragmentation of global headlines, we think it is important to provide our readers an unbiased, data-driven view of how the media is covering ESG and climate-related trends,” says Climate & Capital founder Peter McKillop. “With the help of Science4data’s platform, we will be able to translate media metadata into actionable insights for investors to act on.” The idea was developed by Chris Dhanraj, managing principal of investments at CLA (CliftonLarsonAllen) and former head of investment strategy at BlackRock iShares, and Peter McKillop, who was the global head of media analysis at BlackRock and global head of iShares communications. “Media is playing a disproportionate role in shaping global perceptions on climate change and ESG, and yet no one has been publishing metadata on how to interpret and act on emerging mega trends,” says Dhanraj. About Climate & Capital Media Climate & Capital Media is a global media organization that provides news, information and connections to bring together people and capital to solve climate change. Its news service develops engaging, well-reported profiles that deliver practical investment and leadership insights on the fast-growing community of businesses addressing global warming and building a sustainable climate economy. Learn more at climateandcapitalmedia.com. About Science4Data Science4Data provides advanced AI-driven analysis technology to monitor any online media, including news, social, and other public sources, alongside private document repositories. Developed by AI experts from leading academic institutions, the Science4Data engine provides the most complete automated insights on trends, topics, coverage, sentiment, risk, density, bias and customizable indices. Analyses are curated for relevance and provided effortlessly at scale. Customers include leading organizations in financial services, media, PR, and marketing services. For more information, please visit science4data.com. Contact Details Science4Data LLC Charles Gerth +1 732-754-5610 gerthc@science4data.com Climate & Capital Media Peter McKillop +12028416693 peter.mckillop@climateandcapitalmedia.com Company Website https://science4data.com/

May 18, 2021 08:00 AM Eastern Daylight Time

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HPL Cyber Survey Finds Enterprise Cybersecurity Purchases are Driven by The Vendor’s Reputation, Not Cost or Expertise

HPL Cyber

A new survey of more than 250 corporate IT professionals conducted in March 2021, conducted by YouGov on behalf of HPL Cyber, indicates that the growth of the cybersecurity industry has led to increased clutter among vendors vying for IT professionals’ attention and share-of-wallet. In fact, the research revealed almost 30% of respondents don’t know the name of their current cybersecurity provider, and 68% are overwhelmed by the sheer number of cybersecurity vendors. “The cyber market is awash in brands that sound the same and use indistinguishable sales and marketing strategies,” said Ted Birkhahn, President of HPL Cyber. “This presents a real challenge for IT professionals who are under increasing pressure to sift through the clutter to find the right partner and solutions that best protect them from ever-evolving threats.” The research found the number one factor when it comes to purchasing cyber security products was brand reputation (41%), which outweighs other factors including cost, expertise and even third-party referrals. Nearly one-third (30%) of respondents cite a lack of brand awareness as one of the biggest barriers when purchasing from cyber vendors. What’s more, when making cybersecurity purchasing decisions, 55% say that case studies, webinars and news articles are more effective than traditional fear-based marketing. When deciding to make a purchase, articles published in cyber, tech and business publications ranked first on the list of resources used (33%) followed by proof of concept. Factors near the bottom of the list when deciding to make a purchase included advertising and cold calling. The Cyber Buyer’s Conundrum Buyers are overwhelmed, underfunded and face intense pressure to protect their organization’s assets from evolving cyber threats. Most respondents are concerned about an imminent cyber attack (95%); additionally, more than half of respondents (52%) cite fear of data loss, followed by 37% indicating a loss of reputation. But only 16% claim they purchase cybersecurity solutions after an attack, noting that the cluttered marketplace, being wary of “ fast-talking salesmen selling snake oil ” and “ a lack of product effectiveness and lack of documentation,” as major impediments on the path to purchase. “Sales and marketing teams in the cyber industry require a fresh approach in how they target, message their ability to solve their customers’ cyber defense challenges -- especially in the wake of a cyber incident where vulnerability is high and time is of the essence,” said Charles Sirois of HPL Cyber. “Buyers are skeptical and they need support throughout the buying cycle to better assess the reputation of the vendor, the value proposition of the product, and the alignment of the proposed solution to the problems they are trying to solve.” Additional Survey Findings: The survey also asked buyers about what they perceive as their company’s most pressing cybersecurity gaps and weaknesses. Email attacks topped the list (30%) followed by outdated systems and insider threats. The field is crowded and while most buyers purchase directly from cyber vendors, others still use managed services providers or third-party consultants: 82% of respondents purchase cyber products directly from Cyber vendors all or some of the time and if companies do not purchase directly, half (50%) use managed service providers followed next by consultants and advisors (41%). More than half (55%) of respondents said business enablement marketing (thought leadership, case studies, etc.) is more effective than fear-based marketing, signaling that while fear can be used as an effective motivator, it should be more significantly balanced with smart, insightful thought leadership that educates, informs, and provides thoughtful solutions. If the pendulum swings too far to fear-based approaches, it will likely damage credibility and reputation of the cybersecurity brand. For more information on the Survey, please contact Ted Birkhahn at tedb@hotpaperlantern.com. Research Methodology The Hot Paper Lantern Cybersecurity Survey was conducted by the independent research arm within HPL Cyber, in collaboration with YouGov. The survey was conducted online, with a total sample size of 252 U.S. cybersecurity buyers. The survey was administered in March 2021. About HPL Cyber HPL Cyber is a specialty area within HPL focused on helping cybersecurity companies grow. We help brands break through and achieve greater relevance through a combination of deep expertise in the cybersecurity industry, a unique comprehension of buyers’ perceptions and purchasing behavior, and a marketing formula with proven success. Please visit our website for more information: https://www.hplcyber.com Contact Details HPL Cyber Matthew Panichas +1 212-931-6190 mpanichas@hotpaperlantern.com Company Website https://www.hplcyber.com/

May 18, 2021 07:01 AM Eastern Daylight Time

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