Verizon & Accenture partner to boost cybersecurity services

Verizon Business has formed a strategic partnership with Accenture to advance cybersecurity solutions for mid-market and large enterprises, amid a growing need for cyber resilience.

The collaboration between Verizon Business and Accenture is expected to bolster cybersecurity capabilities by providing an integrated suite of new services. These services aim to help businesses identify security vulnerabilities, and detect, respond to, and recover from cyberattacks. The strategic partnership is set to tackle key security concerns including Identity and Access Management (IAM), Managed Extended Detection and Response (MxDR), and cyber risk services.

Organisations today confront an increasing wave of cyber threats, necessitating robust technological and resource planning defences. According to the 2024 Verizon Data Breach Investigations Report, the exploitation of vulnerabilities surged by approximately 180% last year. By joining forces, Verizon Business and Accenture are poised to leverage their combined expertise in network services and security, offering comprehensive security solutions to meet the demands of large-scale and mid-market enterprises.

Verizon Business Chief Executive Officer, Kyle Malady, underlined the importance of cybersecurity for businesses and the role of the new partnership in expanding Verizon's cybersecurity practice. "Cybersecurity must be a top priority for businesses. With our decades of experience in this area, Verizon is committed to offering solutions that protect our customers and keep their data secure," he stated. "We are seeing the demand from customers and in response, we are going to be building out our cybersecurity practice over the next few years. Partnering with Accenture will be key to scaling our capabilities and delivering new and innovative products to address our customers' most pressing needs."

Manish Sharma, Chief Executive Officer – North America at Accenture, commented on the increasing complexity of the security landscape influenced by factors such as new technologies and global regulations. "The security landscape is growing more complex, driven by emerging technologies, geopolitical uncertainty, global data and cyber security regulations, supply chain risks, and a cyber skills gap. Businesses must prioritise resilience to stay ahead of evolving threats," Sharma said. "Our solutions, coupled with Verizon's core network services and deep security expertise will enable businesses to better protect their data and operations against cyber-attacks."

Craig Robinson, Research Vice President of Security & Trust at IDC, pointed to the strategic emphasis on security services in this collaboration with Accenture as a response to growing demand and market alignment. "Verizon's targeted emphasis on security services offerings, combined with its collaboration with Accenture, enables both companies to effectively address the increasing demand for comprehensive cybersecurity solutions," he noted. "This initiative will improve Verizon Business's competitive edge and align its offerings with current market trends and customer needs."

In the initial stage, the partnership will distribute select security solutions across Verizon's and Accenture's respective networks, focusing on critical growth areas including IAM, MxDR, and cyber risk services. Further developments will encompass co-innovation of new cybersecurity solutions designed to address the evolving security challenges faced by enterprises today.