Cybersecurity Software 'ComplyScore' Launched by Atlas Systems

Chennai, Oct 18 (PTI) Atlas Systems, a leading provider of AI-enabled information technology operations and risk management solutions, on Friday launched a new cybersecurity software, ComplyScore, aimed at mitigating risk for mid and large sized companies.

The company aims at ramping up its presence with this software and a top official said healthcare industry provides better opportunities for the new product and the focus shall be confined to this segment initially.

Atlas Systems Founder-CEO Venugopala Chalamala said the company, which began operations in 2003, was primarily focused on clients in the United States. "We are very fortunate to service Fortune 100 clients who have global footprint and through them, we actually service our end users who are present in 65 countries." he said.

On domestic operations, Chalamala said, "In India, we have been there and though we were not present in the market, we utilised great skills and talent. Now, we are looking at India more as a market and launching ComplyScore focusing on cybersecurity risk."

Cyber crime, as per a report cited in the company statement, is projected to cost the global economy USD 10.5 trillion by 2025. It is estimated that 72.7 per cent of organisations worldwide were affected by ransomware threats in 2023 and the average cost of a data breach to a company was pegged at USD 4.88 million in 2024.

On the launch of ComplyScore, Chalamala, during an interaction said that every company wants to mitigate risk in different dimensions and one of them is cybersecurity.

"This product (ComplyScore) helps organisations to assist and mitigate risk coming from different dimensions", he said and added that risk through cybercrime extended to people and is not limited to enterprises alone.

Responding to a query, he said nearly 50 per cent of the company's revenue was from Information Technology operations and the remaining came from risk management solutions.

"Today everything is interconnected and if one does not manage the risk well, there is no guarantee for his business and it becomes much more vulnerable," he said.

As per reports, the cybersecurity solutions market in India is expected to see a 15 per cent CAGR by 2026 and Atlas Systems offers a holistic suite of solutions that helps businesses test and evaluate current threat levels.

By the end of the year, the Central government may enact a separate law to protect data privacy, he said. "Privacy laws are very, very big in advanced developed countries. So, India is taking its steps, trying to protect and that is happening very fast," he added.