Victor discusses his entry into the IT security market in the late 1990s. There seemed to be a clear opportunity as Internet-based systems were introduced into the enterprise. However, market uptake has been limited to finance and health care industries where needs are clear or regulation requires it.
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In this 14 minute segment (download iPod compatible, 73MB), Victor Naidu and I discuss the genesis and evolution of RAMSoft's security products starting in the late 1990s. Similarly to what Dennis Blanchette described for Ensure, Victor was motivated by the observation that 80% of security breaches are from internal sources. As the scope of the Internet age was becoming apparent, Victor perceived this as an opportunity to fill another gap in the market place. However, it took security products a while to catch on. Victor notes the following:
- Although the conceptual need for security was clear, many potential customers were not initially perceiving security as a pain point.
- Victor has found niches in health care, motivated by HIPA privacy regulations, and finance.
- One of Victor's main customers produces loyalty cards, a topic we covered with PowerPass.
- The need for technology to monitor use of technology arises from the ubiquitous use of technology making it impossible to monitor by traditional means. It's a self feed cycle.
In our next segment with Victor, we will be discussing his global initiatives.
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