LOOK: Cybersecurity Risk Management Firm Launches in the Philippines to Combat Cyber Attacks
In a move to empower organizations in taking proactive measures against cyber risks, Inspira Enterprise launches its fifth Cyber Fusion Center (CFC) in Taguig, Philippines.
According to the Department of Information and Communications Technology (DICT), there are about 3,000 high-level cyber attacks out of the 54,000 cyber threats that were monitored in the Philippines that were recorded from 2020 to 2022. There are also 25.06 million malware spread through removable drives in 2022, which is relatively lower than the numbers in 2021.
Given the fact that there are around 61.4% of the population who owns a laptop or a desktop, the risks of falling victim to cyber threats remain high. This is why a good number of companies in the world focus on beating these threats. One of them is Inspira Enterprise, an India-based global cybersecurity risk management service provider.
To fortify its international cyber defense coverage, the company launched its fifth global Cyber Fusion Center (CFC) in Bonifacio Global City, Taguig City last July 18. We delve into just who this brand is and how its presence in the Philippines will impact the industry.
The Company’s Primary Goal
The main goal of Inspira Enterprise in launching a Philippine-based facility is so that they can predict, detect, prevent, and respond to cyber threats in a proactive and coordinated manner. This is accomplished through an intelligence-driven analysis and tailored incident response process.
The company added that this will allow them to provide a holistic view of the cyber threat landscape to prioritize security posture during a time of rising threat activity. This is because the facility will serve as an in-country service center for Filipino conglomerates, a near-shore option for multinationals in Southeast Asia, and an in-region facility for Asia Pacific clients.
The facility will also house both the Security Operations Center (SOC) and the Network Operations Center (NOC) to enable an integrated approach to end-to-end security. It will be operated 24/7 by cybersecurity express and professionals.
“The launch of our fifth CFC in the Philippines is a strategic move, demonstrating our commitment to global growth and cybersecurity excellence. It represents our multi-million-dollar investment in cybersecurity talent, packaged solutions, and industry-based expertise,” said Josef Figueroa, ASEAN President of Inspira.
Why the Philippines?
“Our overall investment plan for the Philippines is we want to grow to about 150 to 200 people in the next two years time. And the focus is to invest more than about $10 million into the entire business in the Philippines because we believe we can scale into those many number of talented people who can support not just the Philippines, but globally,” shared Inspira Enterprise Founder, Executive Director, and Joint Managing Director Vishal Jain.
Jain also talked about the evolving threat landscape in the region—especially at a time when critical online feuds occur. In fact, he cited that the Philippines is currently the fourth most attacked nation in the world, with publicly-listed companies in the Philippines possibly losing PHP 6.15 billion daily from cyber attacks alone!
“Those three [healthcare or pharmaceutical institutions, financial assets, and infrastructures] have been under attack for the last many years being the backbone of the economy of any country. And we’re seeing more and more attacks on all three of these areas as we move ahead,” he said.
“It’s very important that the threat landscape, as it matures, the investments also mature because today it’s also about the competency of the people. The people who are attacking are smarter than the people who are defending. So we need to continue investing into the people defending to get better and not allow the attackers to become stronger,” he added.
Integrating Advanced Security Tools and Services
“In recent years, we have seen organizations integrating different products and services into their systems and processes. This approach, however, overwhelms security teams with too many alerts and incidents on different screens,” opined Jose Maria Palanca, Inspira’s Sales Director for the Philippines.
“This year, we will grow multifold in terms of not just doubling our headcount every year. We are doubling our revenues as well, because we are in the early phases of adoption,” he added.
The facility is fully integrated with Inspira’s other CFCs in India, the United Arab Emirates, and the United States to provide customers with full coverage, regardless of time or location. This ensures a “follow the sun” approach to cybersecurity support.
By having a state-of-the-art facility in the country that focuses on cyber threats, Filipinos—especially big companies—are more likely to feel safe with their operations and their digital data. More so, having an online safety facility country can also attract potential investors to invest in the country so sites that operate locally can be more secured.