Innovative Approaches & Products to Bring New Vigor in the Encryption Software Industry
Security and privacy have become major concerns with the advancements of technology and advent of smartphone apps. New ways to steal and access data have been found and threats to personal data and information have risen considerably. The encryption software has been so helpful to keep data secure and ensure privacy. Market players have developed different strategies and approaches to gain competitive advantage. Becrypt launched a go-to-market channel strategy, which is single-tier, for its Disk Protect family of products. In addition, providing new encryption software is another strategy to gain new customers and gain major market share. NordVPN launched a new file encryption service NordLocker. Various strategies have brought boom in the market. According to the research firm Allied Market Research, the global encryption software market is estimated to reach $2.66 billion by 2022. Following are some of the recent happenings in the industry:
Becrypt’s new approach to strengthen relationship with existing partners:
Availing innovative strategies and adopting novel approaches for encryption software would help in gaining competitive edge and strengthen position worldwide. Becrypt launched a go-to-market channel strategy, which is single-tier, for its Disk Protect family of products. The cybersecurity software provider has already implemented a single-tier approach for selling its security-focused operating system Paradox. Bernard Parsons, the CEO of Becrypt, outlined that the approach was successful for the product. So, the firm decided to implement the same approach to ensure consistency. This approach would help partners and resellers to sell both product families. This strategy would also help the company to strengthen its relationship with the existing partners and gain new ones. The company is moving toward adoption of SaaS model and need partners that can support this transition. This will give a competitive edge to Becrypt with strengthened bond with partners and customers. Moreover, it would help in understanding requirements of partners, gain feedback, and identify pain points along with delivering a streamlined service by avoiding confusion.
NordVPN’s new encryption software:
Offering new software services is one of the strategies adopted by market players to gain more market share. NordVPN launched a new file encryption service NordLocker for Windows and macOS. This service utilizes end-to-end encryption for files stored on computer and cloud. This ensures that your data is secured and not accessed by anyone without your permission. This service will work on an app that requires a master password. Once files are stored in the folder of this app, it will carry out the encryption process. Then it will decrypt automatically when a user wants to open up those files. Users can share the encrypted files with others through NordLocker app. This app operates on the top of cloud storage services including Google Drive and Dropbox. So, even if someone gains an access to these accounts, they will not be able to gain information. The AES-256 and 4096-bit RSA encryption algorithms have been utilized for protection of files. Moreover, the firm will utilize “zero-knowledge encryption process” to secure the files. This process implies that NordVPN cannot unlock the data. The firm will share more details soon.
Chief editor of review team at FinancesOnline
Chief editor of review team at FinancesOnline Alex Hillsberg is an expert in the area of B2B and SaaS related products. He has worked for several B2B startups in the past and gathered a lot of first hand knowledge about the industry during that time.
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