Unisys Unveils TrustCheck Cyber Risk Management Service
TrustCheck enables organizations to assess their cybersecurity and cyber risk posture in economic terms and evaluate the likelihood of suffering cyber-related financial losses, according to Unisys.
In addition, TrustCheck allows organizations to analyze the return on investment (ROI) for both existing and future cybersecurity investments and recommends cyber risk treatment strategies, Unisys indicated.
How Does TrustCheck Work?
TrustCheck is powered by X-Analytics, a cyber risk analytics model developed by Secure Systems Innovation Corp (SSIC). The TrustCheck cyber risk model is updated monthly, Unisys said, and allows organizations to gain insights into cyber threats that are current and relevant.
Also, TrustCheck provides dashboards that organizations can use to review their cybersecurity and cyber risk posture, according to Unisys. These dashboards help organizations fine-tune their risk measurements based on what is happening in their networks.
TrustCheck is now available as a managed service on an annual subscription basis.
How Did Unisys Perform in 2Q18?
TrustCheck could help Unisys accelerate its revenue growth following a successful second quarter of 2018.
Some of Unisys’ 2Q18 financial results included:
- Services revenue of $587 million, up 2.1 percent year over year.
- Net income of $3.8 million, compared to a net loss of $42 million in 2Q17.
- Contract signings with total contract value (TCV) up 70 percent year over year and 120 percent for the first half of 2018.
Unisys has projected its non-generally accepted accounting principles (GAAP) revenue to fall between $2.7 million and $2.8 million for full-year 2018. Comparatively, Unisys recorded $2.7 million in revenue last year.
What Does the Future Hold for Unisys?
TrustCheck could help Unisys capitalize on the rising demand for cyber risk management solutions, and ultimately, meet or exceed its 2018 financial goals.
The global cybersecurity market is projected to expand at a compound annual growth rate (CAGR) of 10.7 percent between 2013 and 2023 and could be worth $165.2 billion by 2023, according to industry analyst Report Buyer. Furthermore, Report Buyer indicated that cyber risk and compliance management services could be the “largest market” for cybersecurity solutions during the time frame.
Unisys launches the TrustCheck cyber risk management service at the Black Hat USA conference in Las Vegas, Nevada.