Here's How GCC Playing a Role in Digital Space

Digitalization is rapidly adopted by people over the years. According to a NASSCOM’s report, digital risk has grown exponentially as compared to 2018. To avert this, global majors have begun leveraging cyber global capital centers (GCCs) to perform ‘next gen’ functions like emerging technology risks, cyber resilience, cloud security, cyber security operations and cyber security product management and automation.

Rise of Cyber GCC

The cited report states that a majority of cyber GCCs in India is now multifunction centers, thereby rendering more functions with the help of influential leadership. These companies have been adapting with digital technologies and therefore, offering solutions to their parent firms. These centers have expanded or made presence in major Indian cities.

As per the report, of the cyber GCCs surveyed, 71 per cent are multifunction centers, with influential leadership seated at GCC and several of them reporting global heads in their parent organizations.  This is a huge jump in comparison with 39 per cent of cyber GCCs that had the same structure in 2018.

Some of the important findings of the survey are:

1. Nearly 41 per cent of the cyber GCCs surveyed had at least a quarter of their global cyber security teams based in India
2. Nearly 16 per cent of the cyber GCCs surveyed have more than 50 per cent cyber security staff based in India
3. There is further room for expansion for cyber GCCs as 31 per cent of the GCCs surveyed still have less than 10 per cent of their global cyber security staff based out of India  

Besides the key findings, it has also been unveiled that cyber GCCs, over the years, have been delivering core functions, aligned with priorities and budget allocation of their global majors.  These core functions are Cyber risk assessments, third party risk management, cyber security operations, identity and access management, and vulnerability management.

The increasing scope and complexity of cyber security and digital risk functions delivered from cyber GCCs has been accompanied by the rise of GCC cyber leadership profile. Teams focused on cyber security and digital risks in GCCs have grown significantly over the last two years. There has also been a significant increase in contribution to global cyber leadership matters.

The report informs that nearly 78 per cent of cyber GCCs surveyed have their cyber leaders reporting into global executives. It shows that the reporting lines for the GCC CISO reflect growing importance of cyber security functions. Nearly 24 per cent of GCC CISOs report into global executives other than globa, CISOs.

Nearly 54 per cent of the GCCs reported that their GCC CISO reports to the global or regional CISO. Roughly 10 per cent GCCS have their CISOs reporting to global or regional CEOs. While 71 per cent of GCCs have their GCC  CISO or other members of cyber security leadership of cyber GCCs serve on the global committees. Therefore, many GCCs have cyber leaders managing governance and agenda of key global cyber security committees.

The report showcased changing landscape of GCCs. There is a constant upward rise in this space. Seeing the success rate, more professionals are heading toward the niche by up skilling themselves.