California-headquartered security vendor Vormetric has opened an office in Sydney to service customers in Australia and New Zealand.
According to A/NZ country manager Damian Harvey, another motivation behind the launch was the focus on cyber security compliance following the Australian Privacy Principles (APP) which came into effect on 12 March, 2014.
“Data is the new currency – whether you’re talking personal records, credit details, medical records or blueprints, it’s valuable to cyber criminals,” he said in a statement.
“Massive amounts of money are still being spent on firewalls and access monitoring when the data is often walking right out the door and into the wrong hands.”
According to Harvey, more enterprises need to encrypt their data and make sure they know who has access to the “crown jewels”.
“While privileged users are vital to the operation of any network and are usually deserving of trust, the stakes are too high – you don’t ever want your privileged users to be free to pillage your data.”
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Harvey and a systems engineer are currently based in Sydney with plans to expand sales and systems engineer’s roles later in 2014. However, he said that at least 80 per cent of its business will be done through channel partners.
Prior to joining Vormetic in January 2014, Harvey worked at Oracle as A/NZ sales leader for virtualization and specialist security solutions.
He also spent 15 years in the Royal Australian Corp of Signals specialising in encryption.