Filip Cotfas, Channel Manager, CoSoSys which is a leading developer of endpoint centric Data Loss Prevention (DLP) solutions and security software gets alongside for an exclusive interview with Times Tech buzz. Filip during the interaction affirms that the current situation has forced businesses to reconsider their cybersecurity framework and posture and how all businesses need to take data privacy seriously and step up their cybersecurity measures. Filip also underlines their focus towards the Indian market, channel partner ecosystem and ahead strategies. Edited Excerpts below.
TimesTech: What is the current worldwide DLP market size, and what factors are pushing this technology?
Filip: The worldwide loss prevention market was valued at $1,204.8 million in 2020. By 2026, it’s supposed to reach a value of $4,297.7 million. Due to the pandemic, companies have adopted the work from home policy, making employees use more devices and endpoints than before. As a result, the number of cyber threats and data breaches has increased. Companies need to pay extra attention to their data security policies and secure all endpoints and devices, even with today’s hybrid model.
TimesTech: What are the DLP problems in India? What impact have covid-19 and WFH had on this landscape?
Filip: The Covid-19 pandemic has transitioned online most of the businesses in India with the work-from-home model and has built workplace flexibility. However, it is a newfound opportunity for threat actors, ensuring new challenges for data security. There has been a consistent and steady rise of cyberattacks, data breaches, and more across the sector for organizations and companies of all sizes. The current situation has forced businesses to reconsider their cybersecurity framework and posture. Any kind of attack, data breach, or leakage sets a bad example on business capabilities to build reputational damage, financial loss, and long-term loss of customers. All businesses need to take data privacy seriously and step up their cybersecurity measures.
TimesTech: Tell us how CoSoSys has developed as a leader in DLP Solutions, particularly in India, in such a short period of time.
Filip: The awareness for Data Loss Prevention and data security has increased a lot in the past two years due to the pandemic. We have strengthened our Channel Partner Program in India, through which we’ve tried to establish an understanding of why the Data Loss Prevention solutions are business-relevant and should be in priority.
TimesTech: What are the company’s goals for expansion and target verticals?
Filip: We are looking to develop the product more for India, offering more features like predefined policies for local compliance. Through the help of our Channel Partners, we are covering Tier II and Tier III as well, and we are also focusing on Awareness, and Educational content focused on the Tier II and III cities, with the help of local media.
TimesTech: Any planned announcements on new DLP solutions tailored to Indian markets are crucial for Indian enterprises?
Filip: We are looking to provide our DLP solution with advanced features and functionalities that ensure security, flexibility, and compliance for larger companies in India, offering more features like predefined policies for local compliance.
TimesTech: What are the post-covid demands of Indian organizations facing complicated data security challenges?
Filip: The pandemic has added the data concerns in India. The sudden shift to the work-from-home model has raised privacy concerns and security issues in all industries. India has recorded the highest number of data breaches along with the US and the Middle East in the past year. All businesses need to take data privacy seriously and step up their cybersecurity measures. They really need to rethink the way they look at security and make the necessary changes to overcome the challenges of WFH. We proactively educate our customers and partners on the new threats and scenarios that appeared due to COVID and advise them on mitigating the risks.
