WinMagic is unique in the security space. It’s a rare business in today’s world of independently owned companies.
Is that a bit of strange statement coming from the marketing guy? Yep. But it’s true. There are very few software vendors out there today that are focused solely on data encryption and security management. The majority of our competitors do data encryption, but it is a bolt on product to their existing arsenal of anti-virus and firewall solutions. If you look at the Gartner Magic Quadrant for MDP that I talked about a couple of weeks back, you’ll find that nearly every competitor on that grid offers more than just data encryption.
Our ‘bread and butter’ is protecting data at rest. Full disk encryption and related solutions that tie back to the security of data on a device.
Being focused on a single type of solution has really allowed the company to excel and innovate in a market where others have difficulty effectively focusing any one solution. We’re focused and go deep into our space driving new technology to market (things like PBConnex) that fundamentally changes data security management. A lot of our competition tends to be spread very wide and doesn’t go deep into any one area.
The best way I find to try and position us versus our competition to folks that don’t know the market I work in is through a simple analogy. If you go need to go shopping and buy a bunch of stuff for your house, groceries, appliances, paint, electronics etc. you go to a place like Wal-Mart or Target if you want it all done in one stop. However, if you’re going out to outfit your basement with a brand new, state-of-the-art home theater system, you’re going to go to a specialty retailer that focuses on electronics like a Best Buy.
Both are able to co-exist in market by knowing their customer segment and serving it effectively. But when you want the best TV and sound system for your home do you go to Wal-Mart or Best Buy to get it?
Choosing the best data encryption solution for your business should be done with the same analogy in mind.