Getvisibility, a Cork-based technology company, believes it could win up to €20m in business following new data protection requirements announced for suppliers to the US Department of Defence.
The department, which has a budget of around $700bn (€623bn), introduced the Cybersecurity Maturity Model Certification (CMMC) requirements regarding data at the beginning of the month. It sets out a five-level framework for cybersecurity processes and best practices for US government contractors to stop the theft of intellectual property and sensitive information.
CMMC means any businesses hoping to win or run a contract for the US Department of Defence must demonstrate it complies with the new data security rules.
Getvisibility makes software which helps companies identify, protect and understand the data they produce. It believes it is the only Irish company providing security products that can match the demands of the Department of Defence in Washington.
Ronan Murphy, chief executive of Getvisibility, said the opportunity for his company was significant, as every company on the supply chain of the US Department of Defence, from grass cutters to fighter jet manufacturers, will need to show compliance.
"We are very well positioned as a technology stack to get those companies to a level of maturity," he said. "There are over 300,000 companies in that supply chain vying for that $700bn annual pot.
"I think this is a multi-million opportunity for companies like us with a solution - you could put a number of €20m on it."
Murphy, who also founded Smarttech247, said Getvisibility had already won a "significant" contract with one supplier to help them understand and protect the data. It is now ramping up activity in the US to help companies demonstrate compliance when they get audited by the US Department of Defence.
Getvisibility is planning on expanding from Atlanta and San Francisco in the US. By the end of 2020, it hopes to have 12 employees in the market.
Sunday Indo Business