Verizon Business Recognized as theCompany of the Year
Australia Managed Security
Services Industry
Excellence in Best Practices

Best Practices Criteria for World-Class Performance
Frost & Sullivan applies a rigorous analytical process to evaluate multiple nominees for each award
category before determining the final award recipient. The process involves a detailed evaluation of bestpractices criteria across two dimensions for each nominated company. Verizon Business excels in manyof the criteria in the Australian managed security services space.

Addressing Unmet Needs
As Australian enterprises embark on their digital transformation journey, technology adoption expands
attack surfaces and makes the IT infrastructure and environment more complex. The complex
environment creates greater challenges and overheads for IT and security operation teams to monitor
and manage the entire IT environment. Hence, enterprises seek managed security service providers(MSSPs) to outsource their security operations, enabling better threat management.
Verizon Business (Verizon) is one of the world’s leading providers of IT infrastructure, security, andnetwork. It offers a wide service portfolio, including MSS and professional services that cover all security
aspects. With significant investments in innovation, Verizon has the capabilities to help various
industries and customers deal with security challenges while achieving broader business objectives.
“The comprehensive MSS portfoliowith competitive price points andglobal service scale allow Verizon
Business to differentiate itself fromcompetitors, supported by resources
operating in over 150 countries.”- Vivien Pua, Industry Analyst

Verizon provides its MSS portfolio as a standalone solution
or integrated with professional security services based on
customer requirements. It combines the managed security
offerings with intelligence and analytics, including advanced
security operations, threat intelligence and responseservices, and identity management. The whole MSS offering
spectrum enables customers to manage the entire IT
environment with total flexibility, assurance, and© Frost & Sullivan 2020The Growth Pipeline Company0operational support through a single Verizon interface. The comprehensive portfolio with competitive
price points and global service scale allow Verizon to differentiate itself from competitors, supported byresources operating in over 150 countries. The company also provides 24/7 monitoring andmanagement services, backed by its analytics platform, that enable customers to understand theidentified security incident as well as the health and availability of their devices and data sources.
Clients in Asia-Pacific increasingly demand advanced services such as managed detection and response(MDR) and risk management/forensics. In response, Verizon launched MDR services embedded withsecurity orchestration, automation, and response (SOAR) technology in the region in 2020. Thetechnology allows Verizon SOC analysts to hunt threats through automated processes with SOAR
automated playbooks. All these features help customers shorten the threat discovery time and limit
negative impacts.

Leadership Focus and Best Practices Implementation
Most companies in the region lack the resources and expertise to deal with the rapidly changing
business environment and threat landscape. As such, they face difficulties in operating and managing
their cybersecurity posture internally, driving the rising MSS adoption among enterprises in Australia to
manage cyber risks effectively. Enterprises show increasing interest in Verizon’s end-to-end security
service offerings. This is because they enhance risk visibility, protect critical assets, and detect andrespond to cyber threats, enabling customers to improve overall security posture and minimize impact
from security incidents.
Verizon compliments its MSS with deep cybersecurity insights and knowledge from its global resources
to enhance security protection capabilities. This allows the company to provide cyber threat intelligenceto customers through its Rapid Response Retainer, security thought leadership reports, andcybersecurity services. It aggregates multiple external intelligence sources and vast internally produced
sources to obtain the threat intelligence. Its internal sources include intelligence derived from forensic
investigations and lab services, advanced security operation center (ASOC)/computer emergency
response team (CERT) services, Event Recording and Incident Sharing (VERIS) framework contributors,and MSS. These advantages set Verizon apart from competitors as it can tailor the intelligence service todifferent customer groups.
The Rapid Response Retainer, part of Verizon’s threat intelligence services offering and customizable tofit customer needs, leverages the full capabilities of the Verizon Threat Research Advisory Center(VTRAC) team. It puts the VTRAC team’s capabilities at customers’ disposal in six hours from an incident
report. The company also offers customers a new mobile app to quickly access threat status reports anddedicated response teams. The VTRAC team has over 300 experts worldwide from military, lawenforcement, and IT technical backgrounds to provide incident response coverage in more than 100
countries, including Australia. This expertise allows Verizon to offer and tailor a threat intelligencebacked response plan to an organization’s specific risk profile, helping customers from multiple
industries manage evolving cyber threats effectively.

© Frost & Sullivan 2021

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Financial Performance
A Verizon has made inroads in multiple Asia-Pacific countries, including Australia, as a robust global
participant. Despite the stiff market competition, it has a strong presence across verticals, such as
banking, financial services, and insurance (BFSI); retail; manufacturing; and professional and technology
services. The company serves about 97% of Fortune 500 companies, typically the largest corporations in
the region. It grew by 11.3% year-on-year in 2020 in Australia, dominating the market with a 10.8%
market share. The global service scale and local execution capabilities allow Verizon to expand its reachand overtake other international, regional, and local providers to become one of the top MSSPs inAustralia.

Customer Ownership and Service Experience
Extensive security offerings, a strong global brand,commitment to innovation, and dedication toproviding high-quality services to customers makeVerizon’s MSS stand out among competitors inAustralia. Nine international SOCs support its MSS
offering, of which four are in Asia-Pacific. Since
Australia is the biggest market for Verizon in theregion, the company has two dedicated SOCs in the- Vivien Pua, Industry Analyst
country. One of these SOCs supports Australian
government agencies with security operations, data center, and failover, while the other is part ofVerizon’s global 24/7 MSS follow-the-sun model. All global SOCs operate the follow-the-sun model toprovide 24x7x365 incident investigation and device management.
“Verizon invests in human resources so thatlocal consultants and security specialists canunderstand and address each location’s
unique needs through consistent delivery
and ensure global monitoring and reporting.
This supports its MNC customers in today’s
globalized world.”

Verizon recognizes the importance of customer engagement and runs local offices to ensure service
availability whenever they need it. It invests in human resources so that local consultants and security
specialists can understand and address each location’s unique needs through consistent delivery andensure global monitoring and reporting. This supports its MNC customers in today’s globalized world.
The continuous efforts to invest in resources at the global and Asia-Pacific levels and the ability to scaleworldwide while providing local execution make Verizon a strong brand in the MSS industry and set it
apart from competitors.

Conclusion
Verizon’s extensive MSS offerings and global capability enable the company to gain greater popularityand preference among customers in Australia, allowing it to register double-digit growth in theAustralian MSS market in 2020 to strengthen its market leader position. Nine global SOCs, including twoin Australia, support its MSS offerings as Australian government agencies and enterprises embrace
digital transformation and combat the evolving threat landscape. Ongoing investments in innovation
and resources in the region enable Verizon to outperform its competitors to become one of the largest
MSSPs in Australia. With its strong overall performance, Verizon Business earns Frost & Sullivan’s 2021
Australia Company of the Year Award in the managed security services industry.

© Frost & Sullivan 2021

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What You Need to Know about the Company of the Year Recognition
Frost & Sullivan’s Company of the Year Award is its top honor and recognizes the market participant thatexemplifies visionary innovation, market-leading performance, and unmatched customer care.

Best Practices Award Analysis
For the Company of the Year Award, Frost & Sullivan analysts independently evaluated the criteria listedbelow.

Visionary Innovation & Performance

Customer Impact

Addressing Unmet Needs: Customers’ unmet orunder-served needs are unearthed andaddressed by a robust solution development
process

Price/Performance Value: Products or services
provide the best value for the price comparedto similar market offerings

Visionary Scenarios Through Mega Trends:
Long-range,
macro-level
scenarios
areincorporated into the innovation strategy
through the use of Mega Trends, thereby
enabling first to market solutions and new
growth opportunities
Leadership Focus: Company focuses on building
a leadership position in core markets and on
creating stiff barriers to entry for newcompetitors
Best Practices Implementation: Best-in-classimplementation is characterized by processes,
tools, or activities that generate a consistentand repeatable level of successCustomer Purchase Experience: Quality of thepurchase experience assures customers thatthey are buying the optimal solution foraddressing their unique needs and constraints
Customer Ownership Experience: Customers
proudly own the company’s product or service
and have a positive experience throughout thelife of the product or service
Customer Service Experience: Customer service
is accessible, fast, stress-free, and high quality
Brand Equity: Customers perceive the brandpositively and exhibit high brand loyalty

Financial Performance: Strong overall businessperformance is achieved in terms of revenue,
revenue growth, operating margin, and otherkey financial metrics© Frost & Sullivan 2021

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About Frost & Sullivan
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