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At a Glance
Company
ECI specializes in providing managed services and security solutions to the financial services sector, focusing on alternative investments and private equity. Their offerings include managed XDR, governance, risk and compliance (GRC), penetration testing, and vulnerability management.
Challenge
- Inefficient security assessment processes
- Difficulty aligning security services with clients’ business needs
- High operational costs and resource strain
- Struggling to communicate security assessments
- Difficulty bridging gap between stakeholders
Solution
- Transitioned to Cynomi for security assessments, GRC services and data visualization
- Streamlined risk assessments, reducing time and costs
- Empowered junior staff to handle senior-level assessments
- Bridged the gap between technical teams and non-technical stakeholders
Impact
- 50% reduction in security assessment time
- 30% increase in margins
- 50% reduction in human capital time
- Clear visibility for business leaders
- Upsell opportunities
- Market reach expansion
- Empowered junior staff to perform professional tasks
- Doubled client base
- Revenue growth
Background
ECI is a leading managed service provider (MSP) and managed security service provider (MSSP) specializing in the financial services industry, particularly for alternative investment firms and private equity. They offer a broad range of services, including fully tailored white-glove managed services, XDR, penetration testing, vulnerability management, and comprehensive governance, risk, and compliance (GRC) services.
The Challenge
“The biggest pain points prior to working with Cynomi were around the time it would take us to conduct security assessments combined with the level of expertise and skill that we’d have to have in-house to be able to operate at a level of which our clients would expect from us.”
– Chad Fullerton, Vice President of Information Security at ECI
Before partnering with Cynomi, ECI faced significant challenges in delivering their governance, risk, and compliance (GRC) services effectively. The main issue was the time-intensive nature of security assessments, which required highly skilled personnel, raising operational costs and reducing profitability. Additionally, the complexity of the assessments made it difficult to communicate security and compliance information to non-technical stakeholders, such as CFOs, in a way that was easily understandable and actionable. This lack of efficiency and clarity was a major barrier to scaling their services and meeting client expectations in a competitive market.
The Solution
“I manage a GRC service at ECI that delivers comprehensive governance, risk, and compliance solutions to our clients. Currently, we have around 60 clients using this service, and each one receives their own Cynomi dashboard. Each client is assigned an advisor from my team who oversees their short, medium, and long-term plans, ensuring their security, compliance, and overall IT posture are effectively managed. 100% of my GRC customers get a Cynomi dashboard. No exception. It’s the backbone of our offering.”
– Chad Fullerton, Vice President of Information Security at ECI
After evaluating various GRC platforms, ECI chose Cynomi to facilitate their governance, risk, and compliance services.
- Provide a user-friendly, visual dashboard
- Streamline the security assessment process
- Support a range of compliance frameworks and provide actionable insights
ECI utilizes Cynomi for several key functions:
GRC Dashboard – Cynomi serves as ECI’s central GRC platform, providing 100% of their GRC clients with real-time access to their security scores, upcoming tasks, and action plans. The dashboard enables ECI to present complex security and compliance data in a visual, easily understandable format that resonates with CFOs and non-technical stakeholders.
“I would absolutely recommend Cynomi to anyone looking for a GRC partner to provide the front-end and backbone infrastructure for their GRC service.”
– Chad Fullerton, Vice President of Information Security at ECI
Security Assessments – With Cynom, ECI has reduced the time spent on security assessments by 50%, enabling more efficient use of human capital. This reduction in time also empowers ECI to utilize more junior staff, reducing operational costs while maintaining the quality of service expected by clients.
Client and Executive Communication – Cynomi helped bridge the gap between the technical team and executives by presenting security data in figures, images, and graphs, making it easier for non-technical clients like COOs and CFOs to understand and align security information with business goals. Cynomi also added a level of visualization to service and knowledge-driven concepts, making them more accessible and understandable.
Upselling and Service Expansion – With the ability to capture standard operating procedures (SOPs) within the platform, Cynomi has helped ECI identify new opportunities for upselling additional services. ECI can quickly propose new solutions based on the findings from security assessments, improving client relationships and generating additional revenue streams.
Cynomi has proven to be an invaluable tool for ECI, helping them to optimize their GRC processes, increase efficiency, and provide better value to their clients. The platform’s user-friendly design, enhanced reporting features, and seamless integration with business goals have enabled ECI to expand their services and grow their business at a rapid pace.
The Impact
“Cynomi has transformed how we deliver vCISO services. It’s easy to use, allows us to serve more clients with fewer resources, and has had a direct impact on our profitability. We’ve significantly reduced time spent on assessments and increased our margins, all while delivering a high-quality service.”
– Chad Fullerton, Vice President of Information Security at ECI
50% Reduction in Assessment Time
Cynomi helped ECI cut security assessment time by 50%, significantly reducing human capital costs and increasing operational efficiency. With the ability to conduct assessments faster, ECI could focus on expanding services and reaching new markets.
30% Margin Increase
By utilizing Cynomi’s platform, ECI improved their margins by 30%. The combination of reduced assessment time and the ability to use junior staff effectively allowed the company to boost profitability without compromising service quality.
Improved Client Communication
Cynomi’s visual dashboards and easy-to-understand reports allowed ECI to communicate security risks and compliance progress clearly to CFOs and other business leaders. This enhanced client trust and facilitated more productive conversations about security goals and next steps.
Doubled Client Base
As a result of these improvements, ECI has more than doubled their client base. The platform’s capabilities have allowed ECI to deliver a higher level of service, improve client relationships, and ultimately drive revenue growth.
Streamlined Upsell Opportunities
Cynomi’s platform also helped ECI identify new opportunities for upselling. By capturing SOPs within the platform, ECI could quickly propose additional services, providing clients with solutions for gaps identified in their environments.
Enabled Entry into New Markets
Cynomi has enabled ECI, as an MSP, to access markets that were previously out of reach—such as organizations with existing MSPs or internal IT teams. By positioning itself as an MSSP, security advisor, and GRC consultant – and equipped with Cynomi’s platform – ECI can now engage these clients and deliver valuable services.
Boosted Employee Expertise
Cynomi’s easy-to-use interface allowed ECI to empower junior employees to perform tasks that would have previously required senior expertise. This decreased the need for highly skilled resources, reduced overhead, and allowed employees to learn and grow more efficiently.