Accenture announces investment in Tenchi Security to enhance supply chain cyber risk management

Accenture (NYSE: ACN), a global leader in comprehensive professional services, has announced a strategic investment through Accenture Ventures in Tenchi Security, a pioneering third-party cyber risk management company based in São Paulo, Brazil. The collaboration is set to significantly enhance Accenture’s managed security services offering by integrating Tenchi Security’s cutting-edge Software as a Service (SaaS) platform. This platform is uniquely designed to provide organizations with unparalleled visibility and continuous monitoring of their supply chain risks, a critical aspect in today’s interconnected business environment.

The undisclosed deal aims to fortify the defenses of global organizations against the increasing threats of cyberattacks that exploit supply chain vulnerabilities. Unlike traditional enterprise cyber risk management solutions, Tenchi Security’s approach offers a more holistic view of an organization’s cyber risk profile by conducting a comprehensive risk assessment of supplier relationships. This method is crucial for identifying and mitigating potential threats that can compromise the integrity and security of the supply chain.

Recent instances of cyberattacks have shed light on the vulnerabilities inherent in the greater interconnectivity and access within networks and ecosystems. According to Accenture’s Cyber-Resilient CEO research, approximately 51% of CEOs perceive the supply chain as a significant external risk, placing it second only to cyber threats in terms of potential impact on their organizations. This statistic underscores the critical need for robust cyber risk management solutions that can address these vulnerabilities effectively.

Paolo Dal Cin, the global lead of Accenture Security, emphasized the frequency of supply chain security attacks and the necessity of embedding security across all aspects of the business, including suppliers. He pointed out the concerning trend where over half of executives admit to a lack of sufficient understanding of cyber vulnerabilities within their supply chains. Dal Cin stated, “To address this issue, Tenchi and Accenture will offer organizations a complete supply chain risk management security solution that will allow them to identify cyber risks faster and assist in addressing cyber threats.”

Echoing this sentiment, Felipe Boucas, CEO of Tenchi, highlighted the growing awareness and need for effective cybersecurity risk management across supply chains. He mentioned the challenge of integrating continuous, verified data for effective remediation and how Accenture’s expertise in managed security services would bridge this gap. Boucas noted, “With Accenture’s deep experience in managed security services, we will help organizations build trust between their business, suppliers, and partners, while offering ways to improve upon their cybersecurity and the cyber hygiene of the ecosystem as a whole.”

Tenchi Security is the newest addition to Accenture Ventures’ Project Spotlight, an innovative engagement and investment program designed to connect emerging technology companies with strategic innovation opportunities within the Global 2000 cohort. Through Project Spotlight, startups gain access to Accenture’s vast technology domain expertise and a broad enterprise client base, fostering co-innovation and enabling these emerging companies to adapt their solutions for the enterprise market more effectively.

The strategic investment in Tenchi Security by Accenture is a significant move towards enhancing cybersecurity measures for supply chains globally. By leveraging Tenchi’s specialized SaaS platform, Accenture not only strengthens its managed security services but also addresses a critical gap in the market – the need for comprehensive, continuous monitoring and risk assessment of supply chain vulnerabilities. This partnership is poised to set a new benchmark in supply chain cyber resilience, offering a proactive approach to identifying and mitigating cyber threats more efficiently.