iValue InfoSolutions is a market leader in smart, cutting-edge technology solutions assisting businesses in managing, optimizing, and protecting their digital assets. The organization has served over 6000+ customers by providing comprehensive services that support Data, Network, and Application (DNA) management for businesses. Mr. Mitish Chitnavis, CTO at iValue InfoSolutions was in conversation with team IT-Voice recently. Here is a brief from the interaction:
Prateek: How is the Indian cyber space evolving in regards to cybersecurity?
Mitish Chitnavis: In recent years, cyber security has become increasingly important, not only for businesses, but also in terms of national security. The pandemic led to the subsequent increase in the number of people working from home and the use of digital devices, leading to an exponential increase in cyber-attacks and criminal activities in cyberspace. Also, border disputes with neighbouring nations have also led to the spike in cyber warfare, a great concern for the critical infrastructure and services of any country. Businesses today are well aware about the repercussions of ransomware attacks and data breach. Such attacks are becoming dangerously frequent and businesses suffer from two sides, – firstly, failure to secure customer’s right to data privacy and secondly, the most time-intensive, downtime or discontinuation of business. Both are major concerns for businesses today. And organizations today are willing to have all necessary strategies at place to avoid the same and safeguard their network and data.
Prateek: Has there been a change in the spending of enterprises to secure digital assets?
Mitish Chitnavis: As we enter the third year of the pandemic, it is unmistakable that there has been a substantial impact on digitisation plans, and IT budgets. Much has changed, and while many of these adjustments were forced reactions to the new normal, they have all been significant.
Enterprise spending on cybersecurity is expected to hold steady in 2022, but investments will continue to pour into cybersecurity. The spending on security services is likely to develop further as many organizations are considering shifting network security to the cloud and imagine network security in the cloud. As a result, spending on security services is forecast to total $1 billion in 2022.
Prateek: In the context of on-going Russia-Ukraine conflict, how significant is it for enterprises to secure their digital assets?
Mitish Chitnavis: Due to the current political crisis, cyberattacks have a significant chance of spiraling and escalating beyond the crisis in Ukraine. Some countries have already stated their fears about cyberattacks on their critical national infrastructure. And there are various situations that could lead to an escalation in the near future. Regardless of whether cyber invasions occur now or not, tensions will remain high, and the cyber threat will likely wax, not wane. The implications for enterprises of Russia-Ukraine, whether conventional, cyber, or hybrid will have long-reaching consequences for businesses and enterprises far beyond the region’s boundaries.
Prateek: What security solutions for business continuity does iValue offer?
Mitish Chitnavis: iValue’s readymade framework is set to precisely target the right set of enterprise customers through analytics based on customer life cycle adoption framework. Our offerings are aligned, customized and optimized for organizations, across vertical & size, through our global, national, regional and local system integrators partnerships. We help enterprises with digital asset protection, Data, Network and Application Management (DNA), digital transformation solutions and remote work solutions. The virtualization and cloud security, high-class SSL/VPN security, 2 factors authentication are among other solutions we offer as aid in data security.
Prateek: What will the company’s strategy for growth be in the coming years?
Mitish Chitnavis: Despite the pandemic since 2020, iValue has seen one of its biggest growths till date. iValue posted 8X market growth rates for FY21 which is the best ever in iValue’s history. The Q1 of FY22 was the best ever for iValue again and we are looking forward to keeping our streak steady.
