The Cyber Industry is fast becoming renowned for burnout and skills gaps.
We recently focused on identify threat for CISO’s, and the media is reporting that business leaders across all sectors are burning out, after more than six months of trying to adapt to remote working models and the various increased threats of COVID-19.
As a recent media report put it ‘lockdown leaders put leaders under real pressure', so it’s a rare and insightful opportunity to look inside a high growth cyber company, founded in Scotland, now serving clients UK wide and internationally.
Quorum Cyber is an active Trusted Partner of the Scottish Business Resilience Centre, which was founded and grown by BRIM CEO, Mandy Haeburn-Little until late 2019. SBRC is the model for the BRIM network of cyber resilience centres, which are now being rolled out nationwide. Quorum were also keen to engage with centres south of the border, as national plans to further protect the UK’s supply chain continued to develop.
With many criticising cyber as becoming a greedy industry during a time of need, Quorum has a long-standing track record and a strong ethos of serving others first, which is evident in their ability to attract the best talent. They’ve also spent substantial time on supporting local clusters, student e-learning and outreach programmes at no charge to their local community.
Having announced a record-breaking 53% growth for the fiscal year 2020 – an incredible achievement – Graham Moorhouse, Director of Finance at Quorum Cyber, talked to us about how the company is handling such exponential growth, their plans for the year ahead, and how their leadership and culture has survived the pressure and is leading to continued business success.
“We entered Fiscal Year 2020 with a mission to continue the positive trajectory of the previous year. This has enabled us to extend our reach globally in our effort to defend teams and organisations across the world against the rising threat of cyber attacks; allowing them to confidently operate in an increasingly hostile digital landscape.
I am delighted to report a record-breaking fiscal growth of 53% FY20 and the projections for FY21 already show another progressive year for the company which will allow us to continue to invest in the strategies that have worked so well in getting us to this position.
The following market trends have been highlighted as driving growth in cyber security spending:
An ever-increasing threat of sophisticated cyber attacks
Increased exposure to cyber threats
Increased awareness, at board level, of the risks posed by poor cyber security measures
Tightening legislation of cyber risk and vulnerabilities
The UK is one of the world’s leading digital nations, and, as such, the cyber security industry in the UK is highly competitive. According to the UK Cyber Security Sectoral Analysis 2020, there are currently 1,221 cyber security firms active with around 42,855 Full-Time-Equivalents (FTEs), an increase of 44% since 2017. The UK cyber security market generated estimated revenues of £8.3bn in 2019, up 46% (£2.6bn) on the last reported year – 2017 when annual revenues were estimated at £5.7bn.
Such an impressive fiscal performance is clearly down to a multitude of factors; however, it is important to note what is perhaps the most integral aspect of our organisation – our people.
Culture at Quorum
Quorum Cyber prides itself in recruiting and investing in the best talent, whose values and general ethos reflect that of our own, as an organisation. The success of FY20 has enabled us to continue to invest in this element of the business, with 16 new recruits joining the team to fill roles in key areas such as Marketing, Sales and Development. We are so proud to be able to support local Universities and the ever-growing cyber security talent pool they have come to represent; each new graduate brings with them a knowledge and desire which has been integral to our recent success.
We’ve also had key recruitment in other vital areas, as well as our dedication to deepening strong business-outcome oriented partnerships with technology partners like Microsoft. This has led to us building a customer community and ecosystem that enables organisations to lean on the teams of professionals we are so immensely proud to count within our ranks. We, quite simply, would not be where we are without each and every one of the team.”
About Quorum Cyber:
Quorum Cyber enables organisations to operate confidently in an increasingly hostile digital landscape. Their mission is to defend teams and organisations against the risk of cyber security breaches and attacks, offering a collection of highly technical professional and managed security services.