RightCrowd Launches New Integrator Partner Program
The program aims to partner with experienced systems integrators specializing in large PACS, who have the potential to drive new revenue streams through digital transformation in the industry.
RightCrowd Appoints Rick Batchelor as Director of Customer Success
With over 12 years of experience in the security industry and a proven track record of driving customer success and growth, Rick brings a wealth of knowledge and expertise to our team.
LeneS2l’s OnGuard Access Control Systems manage access to many of the largest enterprise facilities in the world. RightCrowd's Workforce Access solutions integrate with these systems to provide enhanced automation and security features. RightCrowd has recently received certification from LenelS2 for its latest 8.0 & 8.1 versions.
RightCrowd Presence Control introduces a new approach to managing visitors and physical security in the workplace. Our unique Visitor Tethering solution tackles the common physical security risks created by unescorted visitors. The solution ensures that all visitors are correctly registered and enforces host/escort policies by electronically tethering visitors to their host.
RightCrowd Access Analytics presents a unique and innovative solution to Identity Governance and Administration (IGA). By automating user access reviews utilizing existing identity and access data, our product can save clients thousands of hours annually and reduce significant manual errors and oversights. However, what really sets us apart is our patented relationship mapping technology, which enables daily insights into our clients' identities and their access. This technology has the potential to mitigate millions of dollars of risk from day one of implementation. A much-needed solution for our time as demonstrated by the continued increase in cyber crime, and breaches such as the one experienced by Australian health insurer Medibank Private.
Medibank's lack of multi-factor authentication and inappropriate access to user credentials left them exposed, dropping their market cap by over $500m and costing them initially $26 million in remediation activities. The article below by Information Age, ACS highlights the importance of Identity Governance and Administration (IGA) processes, such as regular credential reviews and proactive monitoring of high-risk access. RightCrowd's unique Access Analytics solution addresses this problem with a simple approach, utilizing a graph database to create virtual connections between disconnected systems and their properties, providing full visibility of every person's access footprints across the organization, daily.
In comparison to the high costs of cybersecurity breaches, the deployment of our SaaS cloud-based solution is cost-effective and a much more enjoyable experience for all involved.
The Company grew sales revenue in Q2 to $3.7m ($3.2m in the prior quarter) and added 2 new major enterprise customers for its workforce management solutions during Q2. One of these contracts will commence revenue & ARR contribution in Q3.
ARR closed at $10.7m, up from $8.5m at the end of FY22. ARR reduced during the Quarter down from $11.2m at end of FY23 Q1 predominantly due to a strengthening AUD. One of the new enterprise contracts signed during the second Quarter is forecast to add more than $0.7m in ARR by the end of FY23. The pipeline to add more ARR remains strong for the second half of FY23.
Strong operating cash inflows during the Quarter of $1.8m which helped to increase the cash balance to $3.9m. This was driven by $4.6m in receipts from customers (up from $2.6m in the prior Quarter) and the receipt of $2.8m in grant income relating to R&D activities conducted in FY22.
The Company has made pleasing progress in restructuring the business having reduced headcount from 165 FTE to 147 FTE at the end of the Quarter.
RightCrowd continues to work with external advisors to secure further sources of funding to support revenue growth activities and to provide a sufficient buffer for ongoing operations.
Wearable technology is expected to improve physical security through real-time information, location tracking, emergency communication, and biometric authentication. As technology advances, wearables will likely play a bigger role in physical security.
Fortress vs. frictionless: Creating a balanced visitor experience
With Brian Mcllravey, President & COO
The article compares the approach of Fortress and Frictionless in creating a balanced visitor experience. Fortress focuses on security, using biometrics to verify the identity of visitors, while Frictionless prioritizes convenience, using quick check-in processes to enhance the visitor experience
Presence Control Takes Visitor Management Beyond the Front Door
With Bart Vansevenant, CPO
The integration of wearables into physical security systems is a growing trend and has the potential to significantly improve the overall security of a facility while also providing a convenient and streamlined experience for users.
In this article, Brian discusses the difference between granting access and managing access data in access control systems. Brian stresses the importance of managing access data, offers tips for effective management, and highlights the benefits of doing so, such as preventing unauthorized access and identifying security risks.
In this article, Bart provides recommendations for implementing a zero-trust model, such as network segmentation, multi-factor authentication, and strong access control policies. Additionally, Bart highlights the necessity of cybersecurity training for employees to better understand the risks associated with the hybrid work environment.
RightCrowd is launching a series on Physical Identity and Access Management (PIAM) to educate organizations on its benefits, capabilities and importance in enhancing security and access management. The aim is to use RightCrowd's thought leader position to raise awareness and empower organizations to make informed decisions about implementing PIAM.
Welcome to the President's Corner of RightCrowds' newsletter! As we enter into 2023, we have exciting plans ahead of us that we are thrilled to share with you.
Firstly, we are pleased to announce that we continue to add some big logos and opportunities into the pipeline to help bolster fiscal year-end targets. We have had significant pipeline growth in our Access Analytics product line and continue to add logos from the Fortune 100 to our Workforce Access Line. Our sales team has been working hard to advance and close these opportunities, and we are excited about the potential for growth and expansion that they will bring to our organization.
We are also excited to welcome Rick Batchelor, our new Director of Customer Success, to the team. Based out of Ottawa Ontario Canada, Rick brings a wealth of experience and expertise to the role, having worked with leading organizations in various industries. We are confident that Rick will help us to further enhance our customer experience and drive continued growth for our business.
In addition to our new Director of Customer Success, we are also expanding our team in North America, having hired more staff in our Seattle, Waterloo, and Edmonton based centers. We believe that our continued investment in this region will enable us to better serve our customers and expand our presence in this important market.
Our recently released revamp of our Channel Partner Program is seeing immediate results as we have signed three new partners after launching the program. We believe that these partnerships will enable us to deliver even more value to our existing customers and expand our reach into new markets.
We have some great events planned to close out our financial year. We will be attending ISC West in Las Vegas (one of the largest security trade shows with roughly 25,000 attendees) in later March.
We are optimistic about the year ahead and the opportunities that it will bring. We are confident that our plans for 2023, our big customers in the pipeline, our sales activities, our new Director of Customer Success, and our team growth in North America and integration with Australia, the Philippines and Belgium will enable us to deliver even more value to our customers and drive continued growth for our business. Thank you for your continued support, and we look forward to another successful year ahead!
