Say you’re concerned about cyber-criminals hacking into your company’s back end. You’ve run risk assessments before but those reports take weeks to compile. You’re worried those assessments could come too late. What if you could diagnose cyber-security attacks in real-time and be notified immediately of potential solutions?
Those are the questions a new Israeli startup will gladly answer with enthusiasm. Cytegic‘s software and services target those CEOs who want real-time data of any attacks affecting their firm’s IT infrastructure.
“The challenge we’re solving is prioritizing,” says Cytegic’s co-founder Shay Zandani in an interview with B2BNN. “We’re allocating resources and suggesting solutions to relevant attack methods.”
Zandani explains Cytegic’s business proposal as, “What we are doing is analyzing enormous amount of data and implementing and contextualizing them for the business sector.”
Essentially, Cytegic tells you which threats are most severe and which are not a high priority. Cytegic has such a vast amount of data on every kind of cyber attack they can assess what will be most damaging to your firm.
Most importantly, the company CEO is not left out of the data loop. What was once the domain of IT specialists can now be monitored by C-suites. Zandani says CEOs can look over Cytegic’s dashboard in real-time on their computer, allowing executives to take immediate action in case of any breach.
Cytegic is already attracting clients, only two months after launch. Two major Israeli banks are now using Cytegic’s software, and Zandani and his team recently traveled to Canada to meet with a large banking institution to finalize a deal.
Quite appropriately, Cytegic also lured the attention of Carmi Gillon, the former head of Shin Bet, Israel’s internal security service, and he recently joined the company as executive chair.
“Intelligence has been my profession for decades,” Gillon says in an interview. “I see cyber attacks as the next big threat against freedom in the West. The days of the organized crime problem has turned to the gangsters now hacking into companies online.”
Recent surveys stress the anxiety many firms feel about security: 84 percent of IT professionals in the U.S. reported an increase in security and privacy concerns for this year, compared to 2014. Also, 35 percent of organizations had experienced some type of security or privacy breach in 2014.
Some SMBs and less wealthy companies may balk at the hefty price tag attached to the protection Cytegic and similar services charge. But Gillon compares cyber-security to life insurance: “Sure, you pay a premium at the end of the year, you’re still alive, but is it a waste of money? You’re safeguarding your family just in case of an emergency. And a CEO of a small company might not see value in spending so much on security, since it doesn’t affect the bottom line, but just one hacker with an agenda could totally destroy a company single-handedly.”
While most anti-malware drops the risk of a security breach by 40 percent, Cytegic’s products have an efficiency rate in the high 90th percentile, the Globe and Mail writes.
A report by Symantec found the average “lost business costs” per data breach were $3 million in the U.S. Should a company risk it by neglecting cyber-security protection? Or would learning from a company like Cytegic give a business the kind of peace-of-mind that ends up being a truly priceless decision?
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