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Thought Leaders in Cyber Security: Siemplify CEO Amos Stern (Part 3)

Posted on Saturday, Nov 9th 2019

Sramana Mitra: What else do you want to discuss that I have not asked you?

Amos Stern: We can talk a little bit about the type of customers that would use a system like that. It’s interesting because we have two types of customers. If you look at the different types of companies that exist in a market, you can split it somewhere in the bottom-third. The top part are big enough to have their own security operations team, or big enough to have a security infrastructure and a security organization.

They need to have a solution customized for them to improve operations. All of the other companies are not big enough for that, or they are big enough but they don’t want to focus on that. Their core expertise is oil & gas or manufacturing. They outsource it.

Those in the smaller companies need someone to do security monitoring for them. They outsource it to managed security service provider (MSSP). The MSSP has the same problem multiplied by the number of customers they have. These are the second type of customers for ours. It’s a very fast-growing market.

According to Gartner, it’s the fastest-growing sub-category in security. We are successful in providing solutions to 25% of the Gartner Magic Quadrant MSSP’s. We allow them to run the operation in a more effective way, which is not the cost center like in the case of an enterprise. It’s a profit center for them. That’s how they make their money. Improving the efficiencies, like we discussed before, means better margins for them. This is something that they’re very interested in. It’s easy for them to understand and quantify the value in dollars. It’s easier for us to be partnering and selling it to them.

The ROI and value proposition is very clear. It’s also interesting for entrepreneurs. It’s very important to figure out who is the person in the organization you’re selling to. Who’s the user and who’s the business buyer? In the MSSP, it’s different. It’s more of the product management or the service management and not necessarily the security operations team.

Sramana Mitra: Let’s go back to the question about open problems if you feel ready for it.

Amos Stern: One of the problems everybody is trying to solve is how to find a needle in a haystack. I don’t think it’s solved yet. Different companies are trying to implement AI. It’s still very immature but I think there’s a lot of innovation that will happen there in the next few years.

The way I think about it is not in the perspective of one particular customer, but in between all customers. Once we get to a point where the defense will be connected, then the models that you will have will be able to create a better model across all your customers and have better fidelity. It’s very vague, but there’s innovation around that.

Sramana Mitra: Thank you for your time.

This segment is part 3 in the series : Thought Leaders in Cyber Security: Siemplify CEO Amos Stern
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