Safetech Innovations, the cybersecurity leader on the Romanian information security market, launches its first proprietary cybersecurity product – iSAM, the Information Security Automation Manager. The launch comes after 18 months of work of the dedicated team of cybersecurity experts and programmers and an investment of EUR 550,000, out of which approximately 70% was provided through the European Regional Development Fund, the 2014-2020 Competitiveness Operational Programme.
iSAM solution allows the companies’ information security managers to better manage the cybersecurity within their organization, by automating certain processes, providing real-time updates about the level of cybersecurity protection and allowing early detection of cybersecurity threats. The solution primarily targets large companies from the finance and banking and finance, healthcare, transportation, energy, utilities as well as digital infrastructure sectors, since it provides legislative cybersecurity compliance that is applicable to these industries. More specifically, iSAM helps the companies to be compliant with different regulations currently applicable in Romania – Law 362/2018 on ensuring the high level of security of networks and information systems, Romanian Financial Supervisory Authority (ASF) Norm 4/2018 regarding the management of operational risks, the National Bank of Romania (BNR) regulation 3/2018 regarding the monitoring of the financial markets and payment instruments infrastructure as well as the General Data Protection Regulation (GDPR).
The key functionalities of the application developed by Safetech include: inventory of all the business processes and informatics systems in one place, management of politics and standards of security within the organization, continuous analysis and management of risks and vulnerabilities as well as the management of cybersecurity incidents, including cyberattacks. The solution automatizes some of the activities of the Information Security Officers as well as helps organize the cybersecurity management that is usually scattered onto several departments, thus saving time and aligning the practices used in a company. The platform also allows the security officers to generate almost instantly reports, showcasing the level of cybersecurity within the organization as well as provides tools for the management of the key security and risk indicators.
“iSAM was developed having in mind the key challenges that both private and public institutions face nowadays – lack of available human resources, ever-changing digital environment as well as the necessity to comply with numerous regulations in place, both at the EU and local level. iSAM is a tool that allows the security officers manage in its entirety the cybersecurity processes of one institution, through one dedicated application. The main advantage of iSAM is that it does not only merely monitor and analyse the security indicators, but it also provides tools to act in case of imminent security threats, such as cybersecurity attacks. We are proud of the product and we believe that it is a much-needed product on the Romanian market that will help implement the highest levels of security within different organizations,” said Victor Gansac, CEO of Safetech Innovations.
iSAM is available for testing and purchasing as of March 26. The development of iSAM solution is in line with Safetech’s strategy to optimize its revenue streams as well as improve the position on the local cybersecurity market. Starting this year, Safetech will reduce the sales of third-party IT solutions in order to focus progressively on delivering proprietary cybersecurity services and products to its clients.
In 2019, subject to available financing, the company is ready to develop its next proprietary solution. Earlier this year, Safetech announced it is considering listing on Bucharest Stock Exchange in order to attract fresh capital.
Established in 2011, Safetech Innovations is currently the only dedicated information security company on the Romanian market, specialized in the field of cybersecurity and implementation of cybersecurity solutions. Safetech Innovations’ services include data protection, identification of vulnerabilities and risks, implementation of cybersecurity solutions and measures, response to cybersecurity incidents as well as creation of organizational culture oriented towards safety. The company offers a ‘cybersecurity one stop shop’, able to assist organizations in increasing their cyber resilience and solving any cybersecurity problems that could arise.
Safetech Innovations has a large portfolio of clients, having worked with more than 20 key institutions from the financial and banking sector, local energy and utilities companies as well as international players such as ArcelorMittal. Safetech operates the sole Computer Emergency Response Team (CERT) in Romania, available to clients from both public and private sectors that offers continuous monitoring of cybersecurity threats and intervention in case of security incidents. STI CERT is accredited at the European level by Trusted Introducer and offers 24/7 monitoring system, alerting, incident management and forensic. Safetech is also the only Romanian company that is partner to NATO’s Industry Cyber Partnership.