According to the Global Data Exposure Report, over two-thirds (69%) of organizations say they were breached due to an insider threat. An increasingly unpredictable and dynamic business environment is enticing the companies to develop a clear risk management strategy. However, most of the enterprises are unaware of the recent developments in risk management practices. Data protection and privacy are at the center stage of risk management. New laws such as GDPR, CCPA, etc. are necessitating CSOs, CIOs and risk officers to be attentive in guarding the customer and privacy data. Insider threats are also key threats to data and privacy.
Hence, enterprises are looking for solutions to counter these recent threats. New methodologies such as ISO 27001 & 31000, NIST SP, BS 7799, etc. are also being developed and updated. Complementing this need, Teramind was established in 2014. It is a leading, global provider of employee monitoring, insider risk detection, user behavior analytics, and forensics and data loss prevention software solutions. It is the most robust and modern user activity monitoring and insider threat prevention platform.
Notable Core Solutions
Headquartered in Miami, Florida, Teramind offers solutions that are used by over 2000 organizations in finance, legal, retail, manufacturing, energy, technology, healthcare, and government verticles across the globe. Currently, the company offers three core solutions:
- Teramind Starter is an employee monitoring software with powerful insider threat detection and productivity analysis features. It is mainly used for startups and small businesses.
- Teramind UAM is the company’s most popular user activity monitoring solution. It comes with tracking and auditing capabilities as well as a policy and rule engine.
- Teramind DLP, which is its most premium endpoint-based data loss prevention solution. It offers data loss prevention, user activity monitoring, and insider threat detection in a single platform.
A Well-recognized Thought Leader
Isaac Kohen, VP of R&D, Teramind, is the brain behind the solutions offered by the company. With over 18 years of experience in the software industry, he is helping the company grow. Since the beginning of his career, he was always interested in cybersecurity. He is a well-recognized thought leader in the security industry, having articles published in Forbes, Inc, Tripwire, and CSO Online. He completed graduation from Binghamton University and started his career in quantitative finance developing complex trading algorithms for a major Wall Street hedge fund.
His curiosity for IT security was triggered during his tenure at Wall Street and his subsequent experience of securing highly sensitive data for large multi-national conglomerates. When Isaac first stepped in the industry, the standard security practice was to lock everything down. He noticed that it was a very ineffective way of solving issues as it hampered productivity and innovation. Teramind was born as he realized that autonomous algorithms and machine learning techniques can be used to analyze user behavior and detect anomalies without limiting normal workflows.
Coping with Unique Challenges
Dealing with the challenges and successfully countering them is crucial for a company. When it comes to ensuring the productive use of the platform, Teramind also faces unique challenges. Currently, enterprises are moving more towards the cloud. Its infrastructure complexity and introduction to the oversight gaps are resulting in threats becoming more sophisticated. In 2017, the world witnessed the first crypto-based attacks from WannaCry and Petya families of ransomware. Thus, dealing with these ‘neo-risk’ surfaces and the rapidly evolving threats is a challenge for the company.
Additionally, protecting the customers’ data IP and trade secrets from internal and external threats is essential for businesses. However, maintaining employee privacy is also as important. Balancing between privacy and security can sometimes be tricky if the tools are misused. The company needs to educate its customers about how to use these powerful tools properly. It helps them establish a risk management policy that ensures security without compromising privacy.
Inclusive Culture Encouraging Autonomy and Collaboration
Teramind is a remote-first company where the company culture for remote workers is as inclusive as possible. The company emphasizes on encouraging autonomy and collaboration to let the employees explore their potential. Teramind also emphasizes on the passion for work. The employees are inspired to passionately develop technology that solves real and difficult problems. A fun-filled and lighter environment is maintained in the company so that the employees can work freely and love what they do.
Customer support is a top priority for Teramind. The company operates on a closed cycle as it focuses on customer feedback and builds the product around it. The product thus built is very close to the customer requirements.
Looking to Raise the Bar
The need for risk management solutions is only expected to increase in the forthcoming years. Keeping the future opportunities in mind, Teramind has planned solutions for the most critical components of risk management in the future. The company is expected to introduce numerous new features and capabilities into its platform.
Automating risk management and security orchestration by investing more on machine learning and AI is one of the key priorities of Teramind. The company will also introduce more productivity improvement features like support for mobile devices, time tracking, performance optimization, etc. It will also bring more applications and integration support with other partners. By the partnerships, the company aims to deliver better, holistic risk management and security solutions to its customers.
Testimonials Reflecting the Company’s Success
Teramind has come across numerous clients over the years. More often than not, the clients are satisfied and are always in high praise with the solutions provided by the company. The company’s success is evident through some of the testimonials provided by the company’s clients. Here are few of the praises from the clients:
Jason C from a computer software company, asserts, “Extremely powerful software that has proven itself time and time again within our company,” Another client named Timothy O who has Financial Service Business says, “Fantastic system with plenty of applications. [With] retro-active security monitoring, threat management and system diagnostics. Ricky H. who is working in government Administration praises Teramind, says, “Teramind is far more advanced than other competitors. They are definitely raising the bar and I’ll back them up any day.”
