CyRAACS aims to be India’s de facto security service provider

By Yogesh Gupta Oct 5th 2017
CyRAACS aims to be India’s de facto security service provider

The new entity is a security services-only subsidiary of Valuepoint Techsol.

CyRAACS is the new kid on the block. The security services startup CyRAACS incepted a week ago is the subsidiary of Valuepoint Techsol.

CyRAACS is a Cyber Risk Advisory And Consulting Services organization that will cater to companies worldwide and their security needs.

Bangalore-headquartered Valuepoint Techsol – a part of Value Point Group of companies has witnessed phenomenal growth journey over last five years in the security technology domain.

CyRAAC Services (CyRAACS) will deliver quality consulting services in the areas of Information Technology Risk and Cyber Security and Privacy.

Isn’t CyRAACS a case of old wine in a new bottle by Valuepoint Techsol?  "I would say it is a new curated wine in a new bottle," says Suresh Iyer, co-founder and chief executive officer at CyRAACS in an exclusive interaction with CSO India.

“We go beyond traditional security consulting. Our industry experience, customer focus and innovation help us deliver unprecedented business results.”

 

                                                  Ashok Prabhu

                   Founder, Director & CEO, Valuepoint Techsol

CyRAACS a 100 percent subsidiary of ValuePoint Techsol, offers a complete suite of information security services like governance, compliance and advisory. “Valuepoint Techsol continues play the role of trusted advisor by offering solution centric technology solutions backed by strong professional services in the Information Security and betting big on cloud security which is highly relevant in the current business model,” he elaborates.

Risk assessment, auditing, cloud migration strategy, GDPR compliance, architecture design are few of the many important offering under the services suite from CyRAACS, he adds.

What’s different than other security integrators and security services providers in India? We are completely product agnostic company as per Suresh. “Having worked across multiple roles in BFSI segment in my career, there are companies who have excellent product lines or excellent services in security space. The Big 4 GSIs and tech OEMs have good services lines but they are not focused on product. While product lines are bigger in SIs and OEMs, services are not much of a priority,” says Suresh.

Jointly with Valuepoint Techsol, CyRAACS has great potential as product plus services company to target that sweet spot in SMB to large enterprise segment in India, he adds.

Information Security is now a board room conversation and the much needed effective risk management will be provided by CyRAACS to help its customers build a robust information security governance posture.

KEY SECURITY SERVICES BY CYRAACS

·         Technical Services: DLP, Firewall, Advanced persistent threats

·         Advisory Services: Maturity model assessment, strategic roadmap, security due diligence

·         Governance and Compliance Services: ISO 27001, ISO22301, PCI DSS, GDPR, HIPPA

“We have the proficiency in identifying strategic opportunities in Information Security and lead that competitive advantage through a focused approach to improve client’s Information Security posture and create long term sustainable business value,” says Ashok Prabhu, Founder, Director & CEO, Valuepoint Techsol. And we have robust capabilities in managing cybersecurity, technology and privacy risks in alignment with best practices and compliance requirement, he adds.

CyRAACS has significant expertise in strategic and technical Advisory, implementation of Governance, Risk and Compliance. “Our approach to business transformation is results-focused with key emphasis on customer delight, high performance culture and integrity. We go beyond traditional security consulting powered by our industry experience, customer focus and innovation to deliver unprecedented business results for the organizations,” says Ashok.

Suresh has over 25 years of experience as he served in CXO positions in many global organizations like Ocwen Financials, Aditya Birla Minacs, Bank of America to name a few. “Suresh is passionate about Technology and Risk Management and has provided leadership in areas such as Technology Risk, Operational Risk, Information Security, Information Technology, Data Centre Technologies etc. He has a proven track record of building high performance teams and believes in providing the best opportunities to employees,” says Ashok.

The India GTM of CyRAACS will be jointly with Valuepoint Techsol informs Suresh. We are also building our own team of cybersecurity professionals who would hunt for new accounts who need services in information security space, he adds.

Although a startup, CyRAACS has the big opportunity with the existing client base over five years of operation of its parent company ValuePoint Techsol. We would address two sets of customers – Greenfield or net new customers for CyRAACS and the brownfield accounts from Valuepoint Techsol, points out Suresh.

For example, DLP is more of a business led process than just a technology product plugged into the security posture. There is data classification needed before implementing DLP which is the true essence of the solution. CYRAACS could be a services partner for solutions like DLP whether with ValuePoint Techsol or as an independent provider to a new enterprise account.

Into The Future

Headquartered in Bangalore CyRAACS wants to expand operations first in the Indian metros and later expand to other cities as medium term plan or as and when an opportunity arises as per Suresh. The segment-size of interest would be large enterprise, SME and startups, he says.

The four focused vertcials for us will be BFSI, Healthcare, Retail and Telco in that priority order says Suresh.

CyRAACS plans to be an eighty plus strong team in the next two years of operations. “We would also expand to the markets of Middle East and USA market by 2018. We are ambitious to reach revenues of 100 crore rupees in the next five years,” says Suresh.

“Companies are now enhancing their security posture by adopting frameworks and standards like HIPPA. Regulatory bodies have played bigger role in Governance, Risk and Compliance. And there is RBI mandate for banks and micro finance companies,” says Suresh.

Technology consulting services around vulnerability and assessment will continue to be a priority for companies. CISOs of particularly large enterprises need to plan for periodic maturity model assessment of their IT infra and security posture. Compliance services is another must-do for modern CISOs and CSOs. Third party risk management is picking up fast in India like in the more advanced countries like US and UK. The third party risk management program helps companies transfer liability and risk to the third parties appropriately , says Suresh.

With the government initiatives around start-up India, digital India; we believe security will gain more prominence with more data and more connected endpoints in India across public and private segment. We want to be a company which can ‘secure digital India’. There is enough space for consulting services in security domain as seen with large enterprises.  In the next two to three years Indian market will mature more for security services and its importance for a robust posture in hyper connected world.

Our Services will be global in nature and we have already bagged our first European Client and are in the process of acquiring many more as per Suresh.

CISOs need to do a dipstick on where they are in the security posture index and then go for maturity assessment model accordingly. They also need to have onus on data analytics and security in modern era. “We have rich expertise in consulting on cybersecurity risks, technology risks and privacy risks to help clients focus on strategic business goals in today’s rapidly evolving risk and regulatory environment,” says Suresh Iyer of CyRAACS.

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