Spirion Sensitive Data Platform
Company: Spirion, New York, NY
Entry Submitted By: 10Fold
Company Description: Spirion is the leading provider of data risk reduction solutions to help businesses reduce their sensitive data footprint and proactively minimize the cost and reputational damage that results from cyberattacks. Spirion’s data platform helps organizations eliminate the risk of data breaches by discovering, classifying, monitoring and protecting personal information.
Nomination Category: New Product & Service Categories - Software
Nomination Sub Category: New Product or Service of the Year - Software - International Data Protection Solution
Nomination Title: Spirion Sensitive Data Platform
Tell the story about this nominated product or service (up to 650 words). Describe its function, features, benefits, and performance to date:
When the SWIFT network was breached earlier this year, cyber thieves stole $81 million in 20 minutes. They attempted to steal $1 billion, but were discovered due to a spelling mistake. Up until that point, the cyberattack had moved $81 million to untraceable accounts without authority invention, making this one of the largest bank robberies ever. The majority of companies in the U.S. and Europe have experienced at least one significant security breach. Security breaches, including ransomware attacks, have become more of a question of when they will happen, rather than if. The focus has shifted to minimizing the risk of a breach and protecting sensitive data if a breach does in fact occur.
The damages inflicted by a data breach align with the amount of sensitive information available to take. The Spirion platform provides a three-pronged approach to data security and loss management. Many companies and government entities are drowning in data sprawl – they cannot accurately identity their sensitive data and have their sensitive data scattered across multiple locations on their network. The Spirion data platform allows companies to discover and automatically classify and remediate sensitive data, no matter where it rests in the network. Spirion customers experience over 99 percent reduction in sensitive data and are able to protect the remaining 1 percent automatically using Spirion.
Once the first time scan and remediation process is complete, Spirion works 24/7 to continuously monitor the creation of new sensitive data. As new sensitive data is created or received by an organization, Spirion automatically classifies the documents based on the rules set by the organization. Spirion can also auto remediate documents based on custom classification settings. For example, if Spirion finds information that has been designated as “classified” by an organization, Spirion will automatically tag the document and take the appropriate remediation action – which might be to quarantine the document. As you would expect, this approach dramatically reduces an organization’s data exposure in the event of a breach. The Ponemon institute, a respected research firm in security, conducted a survey in 2016 and found that Spirion users experienced 70 percent less financial damage after a cyber security compromise in terms of disruption to normal operations versus those using any other solution. Spirion is currently installed on 1.3 million endpoints over 1,000 customers and 50,000 corporate servers. Spirion’s sensitive data platform is protecting 1.5 billion data files every day.
In bullet-list form, briefly summarize up to ten (10) of the chief features and benefits of the nominated product or service (up to 150 words).
- Spirion has added over 100 new customers in 2016, across higher education, banking, insurance and retail verticals in the USA.
- Spirion has developed an API that integrates with Splunk and other SIEM products. This allows large corporations to view their sensitive data from a single pane of glass.
- Spirion's proprietary predicate logic formula powers its highly accurate discovery engine with near-zero false positives, which is a common thorn in a corporation's side when addressing sensitive data sprawl.
- Today, over 60 percent of all US company boards are highly focused on solving security issues. Spirion developed Spyglass, a visualization technology that gives CIOs, CISOs and other security professionals the ability to show CEOs and board members of the amount of sensitive data that is produced and secured at a glance. Spirion Spyglass also provides mobile alerts to security professionals of immediate risks within the company.