Business is gradually adapting the Internet. The value of B2B (business to business) transactions on the Internet is expected to grow to US$ 220 bn in 2000 to US$ 4 trillion by 2004, according to a leading market research firm. To put things in perspective India’s GDP is about US$ 450 bn. However, security of transaction continues to be a major source of concern. According to study done by Dun & Bradstreet in Australia, there was a slump in e-business due to growing distrust about the security of transactions.
The number of security incidents reported doubled from the previous year to more than 40,000 in 2001. It is but obvious that a significant part of IT spends, is going to be directed towards making enterprise information systems more and more secure. Consequently, the overall IT security budgets increased consecutively for the fourth year in 2001.
One of India’s software majors, Wipro, has managed some success in the IT security area. The company’s component based security framework, WiproWebsecure, has entered the Gartner’s Magic Quadrant that identifies future expectations from a product based on the capabilities of the vendor. Identified as a niche product, WiproWebsecure has the potential to be a solid product according to Gartner. One of the reasons for the product being selected as a part of the Magic Quadrant is its success. Several large corporations have opted for the security solution. The latest to join the list is Friends Provident, a financial services group in UK. The organisation selected Wipro's security product to protect its e-commerce and web based Intranet applications.
WiproWebsecure is an identity and permission infrastructure product that provides a single security umbrella enforcing a centralized security policy across the organization. Organisations use a number of application software for functional requirements. For example, an organisation might be using SAP as an ERP (Enterprise Resource Planning) application and Siebel for its CRM (Customer Relationship Management) requirements.
An employee might need to use both these applications and a few more. Thus, managing user profile across all these different application software can be quite demand. With WiproWebsecure's user provisioning capabilities and automatic synchronization of user profiles to multiple applications, organizations can achieve enormous amount of savings in such administration costs in terms of time and money. If an estimated US$ 100 were paid for the administrators every hour, US$ 1 m would be saved by an organization every year, through the user-provisioning feature. The security application can interface with popular ERP systems (SAP and JD Edwards) and CRM solutions (Seibel and Clarify). Also the latest version of the product can offer security solutions to mobile applications.
The wide acceptance of the product points to the company moving up the value chain and being able to deliver a product. What highlights the company’s success is the fact that companies are opting for WiproWebsecure to cater to a mission critical function like security.
LEGAL DISCLAIMER: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA or Canada, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.
Equitymaster Agora Research Private Limited. 103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India. Telephone: +91-22-61434055. Fax: +91-22-22028550. Email: firstname.lastname@example.org. Website: www.equitymaster.com. CIN:U74999MH2007PTC175407