Bluebik Group Public Company Limited (BBIK), a leading consultancy and service provider on end-to-end digital transformation, is entering the cybersecurity market with full throttle after Bluebik’s board of directors approved the establishment of its cybersecurity subsidiary, Bluebik Titans Company Limited, in August. Bluebik Titans was founded by a cybersecurity team leader with more than 15 years of expertise in international consulting firms. The new subsidiary provides comprehensive digital trust services so that clients can effectively achieve digital transformation and strengthen their cybersecurity.
Mr. Pochara Arayakarnkul, Chief Executive Officer of Bluebik Group Public Company Limited (BBIK), said cyberattacks were soaring because more businesses were entering the digital world and there were more data in information technology systems. Those with ill intentions see them as targets for their money-making cyberattacks which cause great damage, both direct and indirect one. The damage which is the most difficult to repair is lost digital trust. The costs of the repair are times as much as defense budgets. Therefore, organizations need experts to build confidence for themselves and their business partners so that their business will be secure and grow without any interruption.
“Although most organizations are paying special attention to the matter as the Personal Data Protection Act and the Cybersecurity Act are in effect, many businesses still are unaware of their cybersecurity risks and have no idea about their defense. An expert like Bluebik is able to provide business organizations with tight and long-term security,” Mr. Pochara said.
Regarding the outlook of cybersecurity business, Cybersecurity Ventures estimated that as much as US$1.76 trillion would be spent on cybersecurity between 2021 and 2025 and during this period the spending would be increasing by 15% annually on average. Thus, Bluebik sees opportunities to win a share in the cybersecurity market which has high growth potential.
Mr. Polnsutee Thanesniratsai, Director of Bluebik Titans Company Limited, said cyber threats added another difficulty for the business sector, as their prevalence was on the rise and numerous local and worldwide incidents had a noticeable effect on corporate organizations. Therefore, an IT department should not be solely responsible for effective and efficient security. It requires the support and cooperation of all parties within an organization, including the chairman, executives, business units, personnel department, legal affairs department, corporate communications department, and cybersecurity experts. Bluebik Titans offers a variety of services, such as the development of strategic cybersecurity plans and management frameworks, the enhancement of defensive measures, and the handling of cyber incidents. Bluebik Titans offers the following four service categories to satisfy client requirements for robust cybersecurity and resilience:
1) Business-cybersecurity alignment – Business contexts and cyber risk landscape are assessed in accordance with well recognized cybersecurity standards. This will result in comprehensive and strengthened security from every aspect, including governance, policies, processes, personnel, and technology as well as a custom-tailored implementation roadmap that well-aligned with the organization’s goals and available resources.
2) Critical cyber risk remediation – The evaluation of the current state of cybersecurity measures and preventive controls against guiding principles is performed to determine scope and areas for improvement, covering policies, processes, personnel, and technology, driving actionable improvement plans that are prioritized according to risk and impact to all stakeholders.
3) Strengthened security-by-design controls – Due to the diversity of an organization’s information systems, data, and risk factors, their cybersecurity must be improved through the effective implementation of management systems and the selection of suitable technologies and solutions.
4) Cyber response readiness – This involves the development of a detailed response plan for dealing with cyber incidents, the provision of assistance by cyber breach response professionals during an incident to contain it, as well as the investigation of the root cause of the problem and the establishment of guidelines to elevate security measures and prevent recurrence.
In order to expand our offerings beyond traditional cybersecurity consulting, we have worked with industry-leading technology and cybersecurity solution providers and have been developing a strategy to offer solution implementation and managed security services.
“Digital technology is crucial for organizations to improve their competitive advantage and growth potential, but these benefits are not without risk. Consequently, all businesses – particularly those that are undertaking or have completed digital transformation, data-driven organizations, and those that utilize a variety of online channels – must begin developing concrete strategies to tackle cyber risks. This is due to the fact that cyberattacks can result in financial loss and damage the digital trust of affected organizations, putting them at a disadvantage in the digital business, where competition is always intensifying” Mr. Polnsutee said.