Data is new oil, secure it
BFSI sector, for example, has a lot of data regarding customers, and internal information that they need to protect, and at the same time, they also need to be compliant with a lot of industry regulations.
CoSoSys is a developer of endpoint centric Data Loss Prevention (DLP) solutions and security software. The company has been operating in the market for about 16 years now and its mission is to enable businesses and end-users around the world to take full advantage of the performance benefits of mobility, portability, and communications solutions, without compromising security. BizNewsConnect talks to FILIP COTFAS, CHANNEL MANAGER, COSOSYS, to understand the security business particularly in COVID era. Excerpts of the interview by B N KUMAR, EDITOR-IN-CHIEF, THE CONNECT SERIES.
WHAT IS UNIQUE ABOUT YOUR PRODUCT?
Endpoint Protector provides Data Loss Prevention not just for Windows, but also for macOS and Linux computers, Thin Clients, and DaaS platforms. It is the go-to solution for companies running hybrid OS networks. We are pioneers in the implementation of DLP for macOS and Linux, covering Mac OS X 10.4+ and several Linux distributions – Ubuntu, OpenSUSE, RedHat, and more.
Endpoint Protector offers zero-day support to new macOS versions. Our cross-platform coverage extends to all Endpoint Protector modules, including USB Enforced Encryption, enabling seamless management of all endpoints regardless of their operating system, all from a single dashboard.
HOW DO YOU OPERATE IN THE INDIAN MARKET?
In India, we are working through a distribution channel. We work with a large channel network through our distributors.
WHICH ARE THE COUNTRIES YOU OPERATE IN OTHER THAN INDIA?
We operate internationally, having local partners in all over 90 countries.
HOW IMPORTANT IS DATA SECURITY FOR BUSINESSES?
We get this question a lot. Each company, no matter the size, has some kind of sensitive or confidential information that they need to protect. The BFSI sector, for example, has a lot of data regarding customers, and internal information that they need to protect, and at the same time, they also need to be compliant with a lot of industry regulations.
With Covid19 and the work-from-home model, employees are no longer patched to the office networks, which can lead to a huge volume of unsecured customer data, bringing unprecedented challenges to handle. Any data breach, leakage, or theft can have serious repercussions on the business, impacting the brand and disrupting the customer experience.
IF I AM, FOR EXAMPLE, A BFSI OPERATOR WITH A LARGE CUSTOMER DATABASE, HOW CAN YOUR SOLUTION HELP ME?
If you take the Indian Banks for example, besides some international regulations that they might have like PCI-DSS, they should also be compliant with The Reserve Bank of India (RBI). Banks worldwide face a big variety of web security risks, being among the most heavily targeted institutions. A DLP solution like Endpoint Protector can help banks monitor and prevent sensitive data from leaving the company environment. It also helps banks in complying with international regulations, like PCI DSS, NIST 800-171, GDPR, and national ones like the RBI Circular – for which penalties can be quite severe.
OTHER THAN THE BFSI SECTOR, WHICH OTHER SECTOR DOES YOUR COMPANY COVER IN TERMS OF DATA SECURITY?
Any company can benefit from a data loss prevention solution because they all have some kind of sensitive information that needs protection. We work largely with most of the verticals of the industries but we have seen a trend with some of the industries, like in IT, BFSI, Pharma, Healthcare, etc. Companies in these specific sectors deal with a large volume of sensitive information and need to comply with certain regulations.
WITH THE COVID CRISIS, HAS THERE BEEN ANY DEMAND FOR INCREASED DATA SECURITY?
The pandemic hit hard a lot of industries. If we take the BFSI sector, we have seen a huge increase, because of all the employees who are working from home. There is no longer security and overview to see exactly what happens inside the network, so everybody needs to add an extra layer of security and take extra precaution and measures to make sure the information that they were trying to protect before is still protected.
AS A CUSTOMER, IF I DON’T IMPLEMENT A DLP SOLUTION, HOW BAD CAN A DATA BREACH AFFECT ME?
Usually, we ask this question to our customers because we want to help them to understand what will happen in case of a data breach or leakage. The consequences can be different from one company to another. Failing to comply or having been breached can result not only in serious financial losses and fines, but it can damage the institution’s reputation and erode its customers’ confidence as well. Businesses should regard the protection of their sensitive data as a responsibility vital for their success.
THERE IS A NEW SAYING: DATA IS THE NEW OIL. WHAT IS YOUR TAKE ON THIS?
We can definitely say for sure that nowadays data is the new oil, becoming a hugely valuable asset. If you take a look at the giant companies working with data today, everything revolves around it. As long as they know a lot of information about you, they can control what they can offer to you and so on. The big companies that make huge revenue today, are all depending on the data they have. Hence data for sure will play a huge role in the upcoming years.