Step 1 - make sure you have the correct url for the ws. You can test this by browsing it.
Step 2- make sure you send it the arguments it expects with the datatypes it expects.
Thanks Dan Bracuk, for your reply.
What I could understand from Sivakarthikeyan post is that
It is mentioned that they are going to consume external webservices for which he would like to know whether any software/configuration is required to implement WS-Security (In IIS or coldfusion administrator)?
It could be a correct URL that he is using, from his description (2nd step) he gets a error message as "Unable to read WSDL file". If it of incorrect URL then he would have received file not found or other error message.
Can you please or anyone clarify?
I assume, your orgranization's firewall might be blocking that webservice url / server.
Raise a firewall exception, and see if you are able to get the WSDL...