ozMick, the more IT knowledge the better. And i couldn't agree...

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20/02/15

10:09

Post #: 14788958
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Originally posted by ozMick ↑

Hi All,
Just thought I would join the conversation and post my own I.T. background and why I got in last November.
I started out on IBM S370 MVS CICS/COBOL. That will probably mean nothing to anyone under 30 (sigh).
Anyway in those days the security layer was called RACF (Resource Access Control Facility) and later ACF2. Frustrated users would lovingly refer to it as Rack Off.
Since then I have worked with ICL, DEC/VAX VMS (did you know that NT was built by some of the same people who wrote VMS), HP3000 and Windows NT/2000/2003 Active Directory and all that. I've worked for two of the big banks and two of the big insurers as well.
In all that time security was always a layer - and a layer that could be bypassed by the all powerful system administrator. Dodgy record in the database - no worries just 'fix' it on the 'back end'....
In my last job the techies were very excited about 'moving to the cloud' but management was not interested. Why? Security of course!
The thing I liked about Covata when I found out about the float is its disruptive data-centric approach. Now I am not saying that a bank or an insurer would (possibly ever) move its core data to the cloud - heavens forbid.
But this approach must have a future and Covata has near enough to first mover advantage based on what I can find. Safe share has taken a few years and a few (30?) million to get to where it is at. I am sure there are other developers furiously working on their own cloud security models right now and that it will be a very competitive field over the next few years.
Covata has a gun management team and a stated goal of moving to the Nasdaq. I will be very surprised if they don't make it.
Well thats it. GLTAH and all of that!

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ozMick, the more IT knowledge the better.

And i couldn't agree more with you around the cloud.

The cloud is happening, it is the future, there is absolutely zero question about that.

But as you mentioned, CBA isn't going to move their entire system into the cloud, not yet anyway.

I would be very surprised if any serious company isn't migrating various amounts of their business into the cloud though.

The benefits are too attractive - Reduced costs, more flexibility, you can easily scale usage, access the data anywhere, the list goes on...

But security risk is the core element holding back cloud adoption.

A few companies have a solution, but i haven't seen many with an offering like Covata. And even less with a data centric approach. This is why CVT listed with a $100m market cap. It's a premium business with a superior product.

So business's around the globe are wanting to migrate to the cloud to reduce costs... A key issue facing these companies is security... Covata solves this problem better than most... IMO that is worth an investment.

SafeShare is a great product, but i'm more interested in the actual Covata Platform and how easily in-house IT departments can integrate it into existing processes.

How much would say TPG, CommBank and other business pay Covata to secure their entire cloud business each year? $1m... $5m.... $20m? No idea, but it is definitely in the millions.

Predicted global market for cloud equipment by 2018... $80 billion... I want a piece of that please.

CVT Price at posting: 27.0¢ Sentiment: Buy Disclosure: Held
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