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25 Most Promising Compliance Solution Providers

Privasec: Amalgamating Experience and Industry Knowledge

The criticality of compliance cannot be overemphasised in today’s competitive business environment. As a consequence, there has been an increase in the demand for compliance consultancy in the past few years. But more often, the classic engagement IT centric model followed by these consultancy services fails while adapting to the new ways an organization does business and consumes services. A team of well-established senior security professionals realized this inadequacy in the system and came up with an initiative as a solution which marked the foundation of Privasec. Establishing the company in 2014, the founders of Privasec, with years of experience in governance, risk and compliance, created a new generation of security service providers providing practical business minded guidance to organisations to help them meet and maintain their compliance standards. Privasec’s compliance services include ISO 27001, PCI DSS, ISM/PSPF, NIST, NESAF, APRA, Privacy legislations, and Integrated Management Systems. Privasec has registered PCI DSS and PA DSS assessors, certified IRAP Assessors (ASD ISM), ISO27001:2013 Lead Auditor and is a vetted provider to most state governments.

Having worked with the Australian market for a decade, Privasec’s consultants strive to ensure that the company constantly remains on top of the evolving regulatory landscape, keeping a close watch on the developing regulations as well as being updated to existing regulation. Privasec handpicked experienced profiles in the market to create a unique multicultural team of skilled consultants with strong experience across a variety of industries such as Government, Energy, Travel, Financial Services, Retail, IT, Health, Entertainment and Not-For Profit among others, in Australia, Asia and South Asia..
Karan Khosla, Principal Consultant, Privasec, says “We attribute this strong and rapid growth to our flexible and “no BS” direct approach to business problematics, which is striking a real chord with several CIOs, CTOs and CISOs out there. We strive to provide innovative solutions to our clients in order to minimize compliance costs and the risks associated with it.

Over the last few years a surge in compliance obligations was imposed on small businesses, thus making it expensive for smaller organizations to achieve compliance. Privasec has helped dozens of small businesses grow and compete in increasingly regulated markets through its fixed monthly fee Security-aaS (As a Service) program, efficient time boxed health-checks, and industry knowledge and relationships to help business avoid mistake and unnecessary spending. “We strongly believe in SMBs, which form a core part of our growth strategy outside present at the enterprise level,” adds Prashant Haldankar, Director, Privasec.

Privasec’s strong business focus clashes with the traditional IT centric approach to security and compliance. Privasec tends to look at the bigger picture and always considers business and outcome in all its advisory work to ensure of tangible results in business value along with IT outcomes. Karan says, “We see ourselves as our client’s partners not providers, meaning that we take a very high level of ownership and stakeholder management in the matters we work on. We also offer a high degree of flexibility to work within their constraints.”

Privasec’s strong business focus clashes with the traditional IT centric approach to security and compliance

Today, Privasec is experiencing a strong yet very controlled growth to continue to uphold its high standards of delivery and service. The company plans to open an office in Melbourne in 2016 and in Kuala Lumpur in 2017, to better support the Asian and South Asian markets. The company is always on the lookout for sharp and talented minds to expand its work force in the near future.