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Confident Governance Success Story Featured by Kauffman Foundation

Location : Reston, VA

KauffmanFastTrac

Founded : 2010

Employees : 30                                     

Course : FastTrac TechVenture- Graduated 2009

Affiliate Northern Virginia Technology Council (NVTC)

Build the concept. Confident Governance helps companies achieve and maintain ethical governance and risk management standards across all spectrums of operations. Leveraging the power of Big Data, mobile and cloud computing, the company builds products that support the largest organizations, but are affordable for the smallest enterprises. In addition, its products help individuals manage enterprise risk, cybersecurity and compliance.

Plan the strategy. The current state of governance is dysfunctional and auditing is often cumbersome and costly. Companies have spent a lot of money on governance, compliance, cybersecurity, and risk management software in the past. Yet, board members and executives have no tangible insight into their controls and governance. Bhavesh invented the concept of "Governance as a Service" and created the strategy to make governance as easy as CRM. As a result, business users are less dependent on information technology to create governance solutions.

Grow the revenue. The subscription-based business and string partnerships with Salesforce and SAP have helped the company grow revenue with the best source of investment: its customers. Bhavesh is a serial entrepreneur of a different breed. After successfully bootstrapping his first company, EnCrisp, to a multi-million dollar business, he created an angel investment firm and invested in Confident Governance with the same ethos of letting customers grow the solution. As a result, Confident Governance was profitable from day one. Additionally, the product line has expanded from the main Confident Governance platform to include offerings such as Secure Chatter, Data Lifecycle Protection, Agile Audit and Agile PMO.

Expand the market. The company wants to maximize efficient governance and growth, worldwide, by embracing risks with transparency rather than uncertainty. The velocity of business change will increase in the coming decades with technology advances in the Internet of Things and mobility. New areas of emerging markets will require an even greater focus on governance. With that in mind, Confident Governance established a global governance Information Communication Technology hub in India. Being on two continents enables us to deliver “Confidence” in Asia and North America with more markets planned for the future. Its SaaS-based offering allows us to secure partnerships globally and find areas of new growth. This illustrates a commitment to use technology as a driver of positive change for business, worldwide.

Insight / Hindsight. “FastTrac TechVenture has been one of the most important factors in establishing Confident Governance as a global leader in agile governance, risk, and compliance technology. In an era when businesses are frequently changing, the course provided valuable insight on conducting market research, analyzing industry trends and successful entrepreneurship.”

www.confidentgovernance.com

https://www.facebook.com/ConfidentGovernance

@confidentgovern

 

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Courtesy : fasttrac.org

 

Emerging Technologies and Risks: In Conversation with Bhavesh Bhagat

 

Emerging Technologies and Risks: In Conversation with Bhavesh Bhagat

 

(Chairman, EnCrisp®, Governance Risk Compliance for Cloud Computing and emerging technologies)

1. Could you please share with the student’s fraternity your professional experience and learning’s in IT Management and new Technologies? 

I am an Electronics Engineer and have done my MBA in Finance and Information Technology from US about 14 years ago. I started out in the Risk Management field and now I have been an entrepreneur for the past 12 years. We have multiple start-ups and on the technology front. I am also on the board of ISACA which is an Information Systems Audit and Control Association. It has around 1 lakh 15 thousand members across the globe. It is a body which makes sure that Information technology is safe, secure and well governed. So my role in the body is to make people aware of the emerging trends and technologies and help companies and professionals adopt and benefit from such technologies. How-ever, our company mainly focusses on Security, Risk Management, Corporate Governance, Compliance and Emerging Technologies. So be it Cloud Computing, Mobile Technology, Google Tools, Special Analytics, we create solutions for our customers and clients to meet their governance goals and compliances.

2. With new technology like big data Analytics and 3D Printing coming in this year, what will be the new uncharted risks and innovative governance strategies that would present itself with respect to these technologies? 

 Any new technology brings with it a lot of opportunity as well as risk. Hence, associations like the ISACA, IIA etc. essentially focus on these risks. My role as an emerging technology evangelist is to make sure that companies take maximum advantage of all these new technologies. With any new technology, there are some risks which are essentially going to evolve. For example, with Big Data, we do not know how privacy is going to be handled because the governments in US and Europe are grappling with issues in privacy and security. But on the technical side, these technologies are quite robust to use. On the other hand, on the legal and policy side, things are still evolving. So if a Big Data analytics is to be implemented, it depends how mature are the government policies and legalities are as well as how mature is the company in making decisions and how involved it is in making the technology work on the ground level. Based on all these things, the risks come into picture in various forms. 3-D Printing on the other hand is less mature as a technology as compared to a Big Data which is main stream. 3-D printing would gain momentum in the next couple of years. The risks in case of 3-D Printing are more on the intellectual property protection side be-cause people can print, clone and start copying things which may not be their ideas. One can-not track all of that and hence, one has to think on those terms. The advantages of 3-D Printing are in terms of medical devices and similar things which we can clone and produce. How-ever, the bigger thing right now is Internet Opting which is trying to use and keep everything connected to the social media. And now with almost every device being connected to the cloud, businesses and companies will have to think on how would they evolve in that sphere. So all the new technologies, be it Big Data, Internet Optics or Cloud Technology are here to stay and this is how IT is going to be consumed and evolved. It is going to be used as a utility or as a mass pervasive social tool rather than simply as an information tool. So companies will have to think as to how will they manage all the privacy and other risk related constraints along with implementing these new and evolving technologies. It also depends on the risk appetite of the company.

3. According to you how important it is for SMEs to invest in ERP solutions? Or is it better to do it at a later stage of the company? 

 GI feel in today’s scenario, SMEs need not invest in anything as of now as far as technology goes. Because currently the game has changed. Hence, one need not buy an ERP solution. You can simply subscribe and invest in them as a service. It’s more like buying insurance; insurance is not an investment, it’s an operational cost. So the SMEs have to decide how good and efficient they want to be as far as risk management is concerned. For example, take governance as a service on the cloud. One can manage one’s risk, governance and board level strategy but a SME won’t be able to buy a SAP solution as it would cost a lot. But now implementing ERP has become extremely cost effective as one can implement it on the cloud. So things like Invoicing, Inventory and Accounting are all done on the cloud and hence it’s not even an investment. Instead it’s a decision whether the SME wants to do his business with the latest cutting edge technology. So these SMEs need not implement Oracle and SAP. They can now get the ball rolling by using the latest tools and start collaborating, start doing ERP, Risk Management, better security etc. So the subscription economy is geared to the needs of the SME and hence for such companies subscription based models is the way to go.  

 

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Our Chairman/Co Founder receives Top Honor in a 40 Under 40 Awards!

EnCrisp LLC / Confident Governance Chairman and Co-Founder received top honor at a special ceremony “40 Under 40” for his accomplishments and perseverance as an Entrepreneur and business owner. Here is an excerpt from the interview that was published in a leading weekly:

Name:  Bhavesh C. Bhagat

Age:40

Title: Father, Angel Investor, Global Speaker and Expert on Entrepreneurship, Governance and Security

Company/Organization: ConfidentGovernance.com, EnCrisp, NextGenAngels

Professional accomplishment of which you are most proud: The proudest moment was when EnCrisp made it to Inc 500 as one of Washington's top fastest growing Tech companies in 2008/2009 inspite of the doom and gloom.  Constantly innovating to do the right things and making a strategic change when there needs to be one, our next moment came when I started our second Cloud Governance software company ConfidentGovernance.com which was awarded GEW50 by Kauffman foundation.  VA's CIT selected me as one of the fifty most promising entrepreneurs in the first ever CIT50 awards.

Most significant charity work/community involvement: Getting involved with Loudoun County in helping them launch the small business outreach efforts. Getting involved in Leesburg Elementary as a volunteer Father in the Watchdogs program and see the joy on kids face.  In India, supporting the cause of Physically Challenged people by helping “Prerna -  Inspiration" an annual event celebrating achievements of Physically challenged Indian folks organized by MS University in Vadodara, India. 

Personal background and family information: I grew up in Mumbai, India and spent first twenty five years of my life there as an avid Electrical Engineer and Music and Language student whose only goal was to come to the USA to pursue higher education because USA has the best higher education system in the world.  That was my dream then.  Fast forward another fifteen year now as a father of two joyful gifts from above, daughter Pushti (8) and son Brij (7) my dreams have evolved and my focus in life has shifted.  So has my title from being CEO to a Father first.  Having homes and offices on two continents around the world in North America (Leesburg, VA) and in Asia (Vadodara, India) gives me a truly unique perspective on business and family life across east and west.  I find the greener pastures of Leesburg, Potomac and the Catoctin Mountains in the backdrop a perfect place to rest and create new things.  Having travelled around the world, I can truly say from personal experience that I would not select anywhere but Leesburg to raise our family.

 Person you admire the most and why:Unknown Entrepreneur around the world who has yet not made it big yet who continues to push only for a dream. The secret to success is in the journey itself and in the struggles, dreams and perseverance of these common people who I admire most.  Essentially, every small business person who has the guts to go out there and create something against all odds and not be dependent on someone else.  Those are the folks I admire and I want to be one of them every day and hopefully inculcate those values in my children.

One piece of advice for other young professionals: The same I try to game myself every day and remind my kids to learn as they grow up - Persistence, Patience and Practice.  The three P's guiding the Path of the YogiEntrepreneur (my Twitter name @bbhagat)

Favorite app/program on your smart phone: Amazon

 

COMPANY SPOTLIGHT as published in a leading Tech Magazine

   alt

    FOUNDED: 2004

   FOUNDED BY: Bhavesh C. Bhagat

EnCrisp/ Confident Governance®

ABOUT US:

EnCrisp is an INC500and GEW50 award winning global leader in delivering innovative products and services for cyber security, risk And governance within emerging technologies such as Cloud Computing, Social and Mobile and legacy ERP. Its patent pending “Governance as a Service®” product platform is the only global Cloud Governance platform focused entirely on managing and Making Cloud Computing secure and well governed. Their Product firm ConfidentGovernance.com was recognized by Kauffman Foundations one of the world’s50 most Promising companies and receivedGEW50 award. On the whole, EnCrisp is recognized as a global Salesforce.Com Cloud Computing ISV, Microsoft BizSparks start-up member and specialized SAP GRC and Security Solutions partner globally.

KEY PERSON: Bhavesh C. Bhagat

 Founder, Chairman and CEO

Bhavesh founded EnCrisp in 2004 with the vision of “Democratizing Governance”-bringing, guaranteed results and business friendly user driven design into complex security, risk and governance processes into The mainstream. Prior to EnCrisp, Bhavesh held senior management Positions in another venture backed startup and E&Y.  He is a globally Recognized visionary on Risk Philosophy, Emerging Technologies and Entrepreneurship, he brings strategic execution and insight as a Technology executive, professional international speaker and published Author. He is Founding Chairman of the Board at Cloud Security Alliance Washington DC and sits on Global Board of ISACA’s Emerging Business and Technology taskforce. His academic profile includes an MBA and BE.

OFFICES:

Northern Virginia, USA and Gujarat,India

INVESTORS:

Private Self-Funded

COMPETITORS:

SAP, Oracle, Thomson Reuters, Metric stream

WEBSITES:

www.encrisp.com  www.confidentgovernance.com

PRODUCTOFFERINGS:

EnCrisp   and   Confident   Governance   offer real-time, event-based governance solutions for the Cloud, Mobile and Social driven economy. Their    product    portfolio    comprises    of    a Comprehensive   suite   of   security, risk   and Governance applications. These award winning Applications are designed to effectively govern And provide transparency and monitoring across Entire governance landscape with quality and Security standards, industry regulations, risk Programs and corporate policies for private and Public global organizations of all sizes. Its patent Pending “Governance as a Service®” platforms Unique in its ability to seek, understand, and Continuously monitor and respond to real-time Risk and governance events. Using power of Social media and geo-spatial risk mappings it Delivers the intelligence and agility to recognize and instantly react to key risk events Automation of your governance and risk Systems, data, processes, business rules, and People is at the core of the Confident Governance platform, creating an environment That allows real-time risk and governance information to flow freely across your enterprise. Their visual Governance Dashboard analytics Give you the tools to understand strategic and Regulatory risks enabling you to clearly see What going on throughout your organization and optimize operations.

DIFFERENTIATING FACTORS:

EnCrisp “Governance as a Service” platform is Uniquely suited to transform enterprises globally via “Democratizing Governance” by infusing good business and ethical best practices into business   processes driven for Growth.
It  Minimizes  risk  and  increase  transparency Across any time zone and via any device to mee the challenges of the Cloud, Social and Mobile Economy.  With  the  power of  real-time social media integrated risk insights and geo spatial mapping analytics backed by collaboration platform of Governance Chatter, the ConfidentGovernance.com platform enables You to achieve 20-20 transparency and foresight advantage.

REVENUE MODEL:

Private

VISION:

The patent pending Cloud based “Governance  as a Service” technology is a positive disrupting Force in the old technology of status quo world Dominated by tremendously expensive and Complicated risk management systems and Inflexible mega vendors. It will make companies’ boards more responsive to risks in real-time and provide better strategic and ethical insights to all stakeholders.

TIME LINE:

• 2004 EnCrisp Founded Bootstrapped

• 2009ReceivedInc.500Fastest growing private Enterprises award

• 2004-2010ReceivedNVTC Hot Ticket Awards for successful bootstrapped companies

• 2012 Received recognition from Governor of Virginia for entrepreneurship

• 2010   Founded   ConfidentGovernance.com “CloudGovernance” platform

• 2011CG received Kauffman Foundation GEW 50 Award as most promising global enterprising Ideas

• 2012 established global Governance R&D Center of excellence in Gujarat, India

• 2012 EnCrisp and Confident Governance®

Recognized for CIT GAP50Awardfor successful entrepreneurship 

CONTACT INFO: Kimberly D’souza| Email: info at encrisp dot com

Risks of Cloud - A chat with Confident Governance CEO Mr. Bhavesh C. Bhagat

Lots of companies are getting into the cloud business. One DC area entrepreneur says that comes with risk. Naturally, he created a business to show just how much.

Confident Governance CEO Bhavesh Bhagat

Former Ernst & Young auditor Bhavesh Bhagat created Confident Governance two years ago to help companies figure out their business risks and follow governance strategy. Customers of the Governance-as-a-Service platform include Coca-Cola, T-Mobile, and Constellation Energy. The business was recently named one of the top 50 global entrepreneurial startups by the Kauffman Foundation. And Bhavesh just launched a version that targets collaboration and manages the risks that come with companies that have employees work together on projects in a social domain like Salesforce.com’s Chatter. (The biggest risk of his clients collaborating: spilling Coke on your T-Mobile cell phone.)

Confident Governance with Virginia Gov. Bob McDonnell

Bhavesh, here with Va. Gov. Bob McDonnell and his wife, Amishi, says US companies are pretty good at minding risks but companies in other parts of the world like China and India lack resources and education to be as focused on it. Yet overseas sales are growing, especially once he tells them the legal, security, and regulatory risks of moving to the cloud. The company is growing its Indian office where all its coding and development is managed. (Bhavesh moved to the US from India over 15 years ago.) Also the founder of consulting and services firm EnCrisp and the DC chapter of the Cloud Security Alliance, Bhavesh recruited his wife and brother to help run the business. (Wonder what his risk software says about that?) He says he could raise venture capital and grow the business quickly but he’d rather “slog it out.”

Courtesy: Fed Tech BisNow, Washington DC, 23rd November,2011