SideChannel Inc. (SDCH) YOY Revenue Growth Underscores Increasing Popularity of vCISO, Cybersecurity Software Services

January 04, 2023 at 09:35 AM EST

Companies that experience data breaches face, on average, $4.35 million in consequential costs, demonstrating the importance of an effective cybersecurity response
Small to medium-sized businesses (“SMBs”) generally find the costs of hiring full-time cybersecurity experts to be prohibitive, making it difficult for them to effectively protect themselves from potential cyber crimes
Virtual chief information security officer (“vCISO”) services are filling the breach with expert cybersecurity consultancy provided on a contract basis that is far more affordable than a full-time hire
Cybersecurity services and technology provider SideChannel Inc. provides vCISO consultancy as well as proprietary Enclave software that addresses access control needs through microsegmentation
SideChannel recently reported that its solutions have resulted in 71 percent YOY revenue growth with vCISO-specific services rising 93 percent and recurring software & services growing 367 percent

The industry providing virtual chief information security officer (“vCISO”) services is positioned to grow, given that cybercrime is one of the fastest-growing crimes in the United States and that the average cost of a data breach is $4.35 million, but the cost of hiring a full-time staff CISO can itself run into the hundreds of thousands of dollars, a recent Forbes report notes (https://ibn.fm/1qTwi).

Virtual CISOs provide high-level security service as a consultancy contract without the need for committed staffing, offering a more affordable option. Cybersecurity services and technology provider SideChannel (OTCQB: SDCH) is demonstrating the popularity of vCISO solutions for…

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SideChannel Inc. (SDCH) YOY Revenue Growth Underscores Increasing Popularity of vCISO, Cybersecurity Software Services