A new study by Coleman Parkes Research revealed that about 80% of UK businesses are searching for new suppliers in the cybersecurity industry as security remains a key investment during the pandemic.
Indeed, the past year has observed an increased demand for security products and services due to the sanitary crisis and new remote working practices, which led to an interesting opportunity for vendors to extend their customer base.
Hence, the report showcased the best supplier attributes that buyers are most looking for are value for money, cost-effective technology, a true understanding of the customer’s business and market, flexibility, and cutting-edge technology. It was also stated that the less valued attributes were the supplier’s reputation and profile, the perceived simplicity of the technology, the ability to provide unique insights and challenge existing thinking.
The study highlighted that when it comes to choosing security suppliers to work with, security buyers are mostly influenced by industry specific-events, analyst reports, and business, trade, or industry media, with analyst relations, considered the most crucial element of supplier selection.