Aman Bhatia, AWSshowcase, S3E3, 2023 CLOUD

Turning compliance into a competitive advantage: How startups and enterprises can innovate securely

In order to establish trust, stand out from the competition and safeguard customer data, both startups and established companies need to give priority to compliance and security measures.

This focus on compliance by startups is justified as an aim to transform it into a catalyst for innovation rather than a form of hindrance given the heightened security risks associated with the growing volume of generated data. Meanwhile, Thoropass Inc. aims to provide a platform that caters to compliance and security needs. It enables businesses to set up controls, collaborate with auditors, and execute and sustain programs to generate the required documentation and reports, all in a single location.

“In many ways, proving your compliance with important security frameworks is now the currency for doing business,” said Aman Bhatia (pictured), vice president of customer experience at Thoropass. “The last thing you want to do is have a security incident, which impacts your end customer and it impacts their reputation.”

Bhatia spoke with theCUBE industry analyst John Furrier at the “Cybersecurity” AWS Startup Showcase event, during an exclusive broadcast on theCUBE, SiliconANGLE Media’s livestreaming studio. They discussed driving complex projects using stellar, integrated customer experience. (* Disclosure below.)

Build reputation by prioritizing compliance

Frameworks are essential for businesses, especially for software-as-a-service companies, to win enterprise deals and maintain their reputation by prioritizing security and compliance, as it is no longer a bolt-on but a necessary aspect of doing business, according to Bhatia.

“When we speak with prospects, it’s often a conversation on our part to explain to them why they should start and focus on security and compliance from day one,” he said. “It’s very easy to delay this till the day an enterprise customer asks you for a specific audit or a report.”

Startups must prioritize establishing systems and processes for compliance and innovation in artificial intelligence and cloud, finding a balance between the two, and starting with tailored compliance and security measures to effectively manage developing challenges.

“What we see with a lot of customers is, I think, when they don’t start on day one with compliance and security, it makes the job a lot harder down the line,” Bhatia said. “Because again, there’s the people element, there’s a system element, there’s a process element, which all needs to be in sync together for compliance and security to work.”

Start early on

Having the software solution and access to experts is vital when it comes to tailoring compliance programs and simplifying the journey for businesses. The software’s capability to present integrated frameworks enables startups to streamline its auditing process, ultimately saving time and effort by achieving milestones and generating reports more efficiently, according to Bhatia.

“What Thoropass offers is, at least for compliance and security purposes, an end-to-end platform,” he explained. “From the day you come in, you establish your controls, you work with a team of auditors, you implement these controls, you go through an audit, you produce the right kind of documentation and reports you need to prove trust to your customers, and then continuously use the software to maintain these programs over a period of time.”

Frameworks in maintenance and evolution mode require software and expertise to make a difference as companies grow and expand into new areas with different requirements, and the size of the company also affects the implementation of controls, Bhatia added. It is crucial for businesses to establish a security program to guarantee the protection and regulatory adherence of customer data. Moreover, it has become a prerequisite for conducting business operations.

Companies often hesitate to invest engineering time in securing their applications and customer data, but it is crucial for building trust and reputation as one security incident can cause customers to lose trust and take their business elsewhere, according to Bhatia.

“As your company grows, you want to definitely evolve your controls, and that’s where our software and expertise can make a difference. But it doesn’t stop there. The size of your company matters as well,” he said. “The way you implement your controls when you are a 50-person company or a hundred-person company is very different than when you have 1,500 employees and maybe even contractors geographically. How do you ensure that all of the endpoints where customer data or sensitive data is located is secure and safe? That’s where the software and the expertise make a huge difference.”

Here’s the complete video interview, part of SiliconANGLE’s and theCUBE’s coverage of the “Cybersecurity” AWS Startup Showcase event:

(* Disclosure: Thoropass Inc. sponsored this segment of theCUBE. Neither Thoropass nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)

Photo: SiliconANGLE

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