Prophix, the corporate performance management vendor has announced that Prophix Cloud Services are now ISO/IEC: 27001:2013 certified. This will help to differentiate its services from other CPM vendors in the space.
The CPM market is crowded. The last Gartner quadrant placed Prophix as a visionary vendor but one of 16 vendors. Since that time several vendors have changed ownership or received investment. They include Adaptive Insights, bought by Workday, Host Analytics and Vena Solutions.
In achieving ISA 27001 Prophix has gone through a rigorous certification process for its cloud service. It will also need to go through a regular audit to maintain the certification. Kris Laxdal, Director, Information Security, Prophix Software commented: “From the start, we have been unwavering in our commitment to delivering a leading CPM cloud product that finance and IT professionals can have total confidence in. The ISO/IEC 27001:2013 certification of Prophix Cloud Services is the result of the significant investments we have made in cloud security, infrastructure, and operations.”
Enterprise Times: What does this mean
Few cloud vendors go through the ISO 27001, in fact few organisations do so. It can be an onerous task to do so. However, having made the investment Prophix demonstrates that its cloud service at least meets certain information security requirements at an administrative, logical and physical level. The company has demonstrated that its cloud solutions meet a certification standard that companies are both aware of and respect. Additionally, it has SOC2 certification and ISAE 3402 certification as well as the Cloud Security Alliance level 1 certification.
Over the last fiscal year it achieved 42% revenue growth and is on target to hit $100 million in recurring revenue by 2023. It now has a focus on cloud and by achieving this certification can differentiate itself from several other competitors. This should help propel its growth in 2019.