Just as cyber attacks use the global nature of the internet to wreak havoc, Australian cyber-security expert Stratsec is finding a global audience for its prevention expertise.
Since winning the 2010 Telstra Australian Business of the Year, Stratsec’s increased profile has led to growth in South-East Asia, opportunities in the Middle East and its acquisition by British information security company BAE Australia.
The experience of the Telstra Business Awards, according to Stratec co-founder and CEO Peter Lilley, was “… fantastic for us, one of the best things we have ever done, and a source of pride and excitement for our staff. The results have been amazing. The recognition in international markets afforded by that kind of independent Award is incredibly important.”
Stratsec was established by Peter Lilley and chief operating officer Doug Stuart in 2004 and added a third director, chief technical officer Nick Ellsmore, after a merger with Sydney company SIFT in 2009.
With offices in Canberra, Sydney, Melbourne, Singapore and Kuala Lumpur, Stratsec’s reputation among blue-chip government and commercial clients is based on the independent information security and testing services that it provides – the company understands cyber security technology but is not aligned with technology vendors.
Cyber-crime is estimated to cost Australia $600 million a year and about $1 trillion dollars globally.
“Cyber-security is a trans-national issue. Cyber attacks occur from anywhere around the globe. The power of the internet is fantastic for business but it also presents a great opportunity for adversaries to mount cyber attacks that can wreak incredible potential damage on a business’s reputation and ability to transact online, ” said Mr Lilley.
Stratsec sees a mixed response to cyber-security. “Some organisations are quite well prepared and working hard to maintain sound security positions against cyber threats but there are others that don’t devote enough time because they don’t understand deeply enough what they are exposed to.
“It’s a shame that a lot of businesses have to go through an attack that damages their business before they realise how important it is to invest in their security arrangements and protect their business,” he said.
It’s no wonder Peter Lilley advises business that “an ounce of prevention is far better than getting a cure.”
Stratsec was named 2010 Telstra ACT Business of the Year and Panasonic Medium Business Award winner before taking out the national Award. The company had entered the Telstra Business Awards twice before.
“For us the process of entering has been really good. It makes you look critically at your business and look back at what you have achieved. As a business owner you don’t often get that opportunity to identify what’s special about your business and some things you would have done better,” said Mr Lilley.
“When we entered in previous years, we compared ourselves to other businesses and the characteristics that made them successful – it was invaluable because we could identify things we had to do to improve.”
The value of the Stratsec brand and its expert advice for clients in defence, infrastructure, financial and other sectors was critical in BAE’s acquisition of the Australian company. As a subsidiary, Peter Lilley is extremely optimistic about Stratsec’s future in Australia and, increasingly, offshore.
To nominate and enter the 2011 Telstra Business Awards, go to telstrabusinessawards.com or call the Telstra Business Awards Team on 1800 262 323 between 9am and 7pm AEST Monday to Friday. Entries open on 14 February 2011 and close at 5pm AEST on Monday 4 April 2011.
