iValue Infosolutions: Protecting Digital Assets through Cutting-edge Cyber Security Solutions

CIO Vendor Although every organization takes the necessary measures to keep its systems and data safe from cyber threats, the digital age comes with its own set of challenges as well as vulnerabilities. The impact of a security breach could be far-reaching, and it is crucial that an organization’s digital vault is always protected since a breach of private data can negatively impact business credibility.

According to a recent study conducted by IBM, it was found that, on average, organizations use 45 cybersecurity tools in their networks. As the cyber-attack surface expands, organizations are looking to simplify their approach and work with security providers that can help them detect and counter threats in time.

As a “Technology Enabler iValue”, InfoSolutions believes in providing better Customer lifecycle management coupled with efficiency and customer experience by offering a blend of product, solution, technology consulting, and services. CIOReviewIndia interacted with Krishna RajSharma, Director, iValue InfoSolutions and Mitish Chitnavis, CTO, iValue InfoSolutions to know more.

The global cyber security market is expected to register a cagr of 10.9 percent by 2028. How do you anticipate the growth of this segment in India? What are the factors driving its growth?
Mitish Chitnavis: The cyber security market is crucial to ensuring India’s stature as one of the world’s leading investment hubs, as well as the security of its major sectors, and is expected to become more pronounced and grow exponentially. This is in part driven by nationwide initiatives such as Digital India, and increasing digitization of the country’s business environment and daily life. According to estimates, the cyber security market in India is expected to grow to USD 3.05 billion by 2022, at a CAGR of 15.6 percent, which is almost one and a half times the global rate.

The advancements in technology and its usage have connected people, businesses, and organizations in India and brought them closer, leading to economic progress. While many factors are contributing to this high growth rate, the study shows that three factors are significantly driving the cyber security demand market in India-digital growth, increase in cyberattacks, and stringent regulatory mandates.

What are the major expectations that client companies have from the players in this segment? How do you strategize to meet those?
Mitish Chitnavis: Employees on the front line will play an especially important role in keeping the organization safe as normal on-premise security measures become less relevant..

The extraordinary efforts of many organizations to protect workers and serve customers during the COVID-19 pandemic have also increased their exposure to cyberthreats. Large-scale adoption of work-from-home technologies, heightened activity on customer-facing networks, and greater use of online services all present fresh openings, which cyber attackers have been quick to exploit. The overarching challenge for chief information-security officers (CISOs) and cybersecurity teams will be protecting their institutions while enabling operations to go on without interruption.

In India, the cybersecurity measures taken by companies aren’t keeping pace with today’s business environment demands. Only about 10 percent aim for cyber-risk reduction. Most are more reactionary, filling security gaps as they arise. Chief information security officers must balance two priorities to respond to the pandemic: protecting against new cyber threats and maintaining business continuity.

Considering the business dynamics, demands will increase in Security Consulting, Security Implementation, Security Product Implementations, Security Testing, Security Operations, and Incident Response.

How is iValue positioned in the cyber security segment?
Mitish Chitnavis: iValue is positioned as one of the top Cybersecurity Companies in India, providing a blend of product, distribution, and services. Intending to deliver the best to the customer, iValue’s Ecosystem is unique, comprising partners, system integrators, global and regional consultants, small and medium cyber security companies, and cyber security professionals, and is utilized to deliver the best to customers.

iValue is a leader in providing smart, cutting-edge technology solutions that help enterprises to manage, optimize and protect their digital assets. How do you accomplish this?
Mitish Chitnavis: Since the inception of iValue, the focus has been on bringing cutting-edge cyber security products to India for Indian customers. iValue has a framework to identify these cutting-edge products, which includes some basic criteria, product ownership, product development R&D Centres' locations. These criteria are important to ensure we select the products/technologies that secure the enterprises, governments, etc.

What solution stands at the core of iValue and how unique is iValue’s market strategy formed around the solution?
Mitish Chitnavis: iValue’s approach has been to understand and address business outcomes of customers in the Data Network and Application management space. Since the core team has been focusing on this area since 2000, we have built tremendous expertise around technology, vertical needs along with Governance, Compliance, and Risk area. We leverage
our expertise and learning with customers in a similar business space to ensure risk-free and relevant solutions with relevant services.

What are the key specifications of the “work from home solution” offered by iValue? How is it helping the clients to optimize their productivity while working securely from home?
Mitish Chitnavis: At iValue InfoSolutions, we are actively working with clients and partners to quickly build and deploy relevant solutions that enable their workforce to accomplish targeted business outcomes safely and without disruption. With our experience and expertise in providing solutions and services, we can help enterprises adopt a powerful and secure Work from Home solution for their employees, based on the specific needs of their organization.

Our goal is to manage time efficiently in this adoption process and focus on boosting the team’s productivity while working from home. We start by understanding the objectives and studying the client’s IT landscape and security policies. Based on that, we recommend solutions and services that will fulfill our goals.

Tell us about the iValue team. What effect would the addition of mitish chitnavis as CTO have on the team's efficiency?
KrishnaRaj Sharma: iValue is growing multi-fold. We have started offices in Singapore, catering to SEA market, and for that scale, we need to drive efficiencies in our operations.

iValue is going to drive technology-led solutions rather than only point solutions. Mitish Chitnavis’s addition will strengthen Technology led Solutions, 360-degree solutions to secure an enterprise, help customers build Risk Management models for traditional and cloud, etc. Risk management for the cloud is needed as more and more customers are moving to the cloud.

Protecting Digital Assets through Cutting-edge Cyber Security Solutions

What value will mitish chitnavis bring to the company's main differentiating qualities now that he's onboard?
KrishnaRaj Sharma: Indian market is divided into three verticals, companies that provide only consulting, companies that provide only audits/compliance services and companies that provide products. iValue is in a unique position to offer all three under one umbrella.

iValue’s core business is product sales, point solutions, etc. Cyber Security has 12 domains and Customers are looking for integrated solutions in each of these domains. With Mitish on board, iValue’s consulting practice would now focus on integrated solutions on compliance, cybersecurity, incident response, insider threats, Cloud Risk Management, etc. This will now differentiate us from the rest.

What is your vision for iValue's future roadmap?
KrishnaRaj Sharma: iValue since its inception has primarily focused on four segments in terms of growth: Government, BFSI, Enterprise, and Commercial sector. At iValue, our solutions are geared towards helping governments successfully achieve this. Our rich domain experience in this sector has led us to forge long-term partnerships with government agencies both at the central and state levels. We are deeply cued into all Government of India (GOI) projects and initiatives while being aligned with GOI project consultants for utmost clarity on RFPs.

“Our goal is to manage time efficiently in this adoption process and focus on boosting the team’s productivity while working from home. We start by understanding the objectives and studying the client’s IT landscape and security policies”

We are thoroughly aligned with key consultants involved in important BFSI projects. Our long and successful association with the banking industry has allowed us to gain considerable domain expertise and significant successful implementations. Our strategy has helped the company not just ride the tide but also reach new heights. Market trends such as Privacy, Compliance, and Automation driven by Analytics, AI, and ML will drive revenue streams in 2022-23. The 1st step towards being able to stay on top of the trend is to anticipate what the market will come up with and what our customers need.

With this formula, we have always faced any challenge including the pandemic and emerged successfully. Our approach in the market is to consultatively understand and address customers' business and IT needs around DNA offerings with a medium to long-term perspective. We are also aggressively pursuing inorganic growth opportunities both on capabilities and geography coverage to maximize profitable growth. We are building organic and inorganic expertise in the area of consulting and services around GRC with new/niche cybersecurity services relevant to the heightened risk due to WFA.