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2. Compliance with Regulatory Mandates

Legal compliance has played a crucial role in framing of security policies in India. Most software/BPO companies as well as MNCs from other sectors have opted for international standards like ISO 17799, BS 7799, COBIT, and ITSM.
In addition the security policies of some of these companies were framed complying with requirements of different standards like HIPPA, SAS70, Graham Leach Biley and the Sarbanes Oxley Act The captives of international companies were relatively more mature in adopting these standards driven by parent's international practices. SEBI guidelines for Banking and Finance Industry mandate that financial Institutions like Banks and Mutual Funds need to have DR measures in place. BPOs and call centers need to have their DR, security, and BCP well established to lure offshore clients, and conform to standards like COPC, BS7799, and HIPAA.

3. Ensure the Privacy of Customers, Partners and Employee Information:

With several high-profile BPO fraud cases sending tremors amongst the Western outsourcing crowd, security service providers had a field day as BPOs of every hue and size ran to put a minimum security framework in place.

4. Booming Economy

The resurgent global economy has allowed enterprises to bolster their IT budgets, network security, DR, and BCP.

Domain Specific Security Overview

Service providers offer solutions for domain specific industries. The Banking sector is leader in implementing security solutions. Other sectors like Manufacturing, BPO/IT, and Telecom are still to catch up with Banking.

A brief overview of these sectors is given below:

Banking and Financial Services

The Banking and Financial Services (BFSI) verticals are looking for robust security solutions. They are hiring the services of specialized security firms for consultancy and audits, while others are outsourcing security services like firewall management and IDS to third parties.

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* Contributed by: -
Prasun Goel,
PGDM (2nd Year)
Symbiosis Centre for Management and Human Resource Development,
SCMHRD, Pune