Please provide a brief overview of the company?
Fortinet (NASDAQ: FTNT) is a global leader in high-performance, unified network security solutions, focused on providing a unique combination of security, performance and value to our customers through simple to manage solutions. Industry visionary Ken Xie founded Fortinet in 2000 based on the idea that traditional network security technologies do not readily address the evolving security challenges faced by organisations. This has lead to the development of a unified security solution capable of meeting the performance and security requirements of a broad range of organisations whilst remaining cost-effective, simple to manage and innovative. Fortinet is a true global network security leader. Since our first flagship FortiGate® network security platform was made available in 2003, Fortinet has shipped more than 1.5 million devices to enterprises, service providers and governments globally. Our customers include the majority of the 2012 Fortune Global 100 across a broad range of markets and industries. Fortinet is currently the 3rd largest network security vendor in the world with the clear goal of being number 1.
What sets the company apart from your competitors?
Fortinet is 100% focused on innovation and has complete control over the strategic direction of product development from hardware design, component and appliance manufacture through to software development and security threat research. A critical key to Fortinet’s ongoing success is the unique combination of the FortiGate unified network security platform powered by FortiASIC™ and the FortiOS® unified security operating system which is all supported by the industry leading FortiGuard threat research team.
Fortinet’s FortiOS® is a proprietary security-hardened, purpose-built operating system, which, coupled with Fortinet’s FortiASIC™ processors, is designed to help customers achieve extremely high network throughput with exceptionally low latency. Fortinet’s purpose-built hardware and software provides industry leading performance, allowing the detection of malicious content at multi-Gigabit speeds whilst also being highly resilient and simple to manage and maintain. The FortiGuard team consists of over 250 threat researchers who also work closely with a range of industry organisations and regional CERT bodies as well as other technology vendors to ensure up to the minute coverage of the latest emerging and zero day threats. The FortiGuard threat research team is also responsible for discovering over 150 unique zero day vulnerabilities.
Fortinet is one of the only network security vendors to have dedicated an in-house threat research division who are not only focused on identifying and providing protection against emerging threats but also working to develop our solutions to protect against the next generation of security challenges.
Fortinet has been awarded 150 patents, with 120 patents pending, and has more product and security certifications than any other security appliance company. We are the only vendor to have earned certifications across all core security technologies. We are focused on demonstrating the strength of our capabilities through ongoing industry and third party validation.
Who are typical prospects/customers?
Fortinet operates entirely via a channel model with regional distributors and over 500 system integration partners across Australia and New Zealand. We work with our partners to target SMB, enterprise, education, service providers, telecommunication carriers and government organisations.
We understand and acknowledge the importance of providing relevant solutions across these very different customer organsiations but at the same time understand they all require innovative, up-to-date and cost-effective security solutions. The breadth of capabilities and complementary technologies provided by the FortiGate Unified Security platform allow us to provide relevant solutions across many market verticals such as education, financial services, federal government, defence, utilities, mining, manufacturing and retail. No single customer has exactly the same requirement but they all require security that is cost effective, provides value and is easy to manage.
When talking to customers/prospects what things are top of their agenda’s today?
The challenges are in some respects much the same as they have been in the past. Traditionally security is seen as a cost to an organization with no real value to the business. This challenge in conjunction with the ever increasing and evolving security threats means that security solutions in general have evolved to become complex, disparate and difficult to manage from a day to day operational and maintenance perspective. The broad range of security solutions organisations need to ensure complete protection are expensive, difficult to manage and require specialist skills. This has meant that organisations are now looking for smart, consolidated easy to manage security solutions that address both emerging threats and also support the changing IT environment resulting from the adoption of strategies such BYOD, Cloud Computing, Machine to Machine (M2M) and automation. Security now must be a part of the solution, in which IT can show real business value.
What is the company’s greatest challenge right now?
Fortinet has seen significant and sustainable growth over the years since the company was originally founded even though a major focus of the business was to develop capable and mature technologies that were relevant to the business and security issues faced by our customers.
Fortinet has traditionally let the technology and solutions speak for themselves and the challenge right now is maintain innovation but better market to educate about the wider potential of our solutions to achieve our goal of being the number 1 network security vendor globally.
It is all about demonstrating our true capabilities to potential customers and letting them know that we are able to assist them in addressing their security challenges through cost effective, simple to manage solutions. There is a large section of the market that does not have the right security solution, have no security solutions or think that they can’t afford the right level of security.
What are the core messages you want the marketplace to know about your company?
For potential customers who do not know about Fortinet, we are committed to providing relevant, capable and value for money solutions that address real challenges of organisations of all sizes and backgrounds. We are more than willing to put our technology to the test and demonstrate this.
For our existing customers, our product range and capabilities continue to evolve. We have recently announced the latest generation of our FortiASIC™ which provides twice the performance as the previous generation and introduces performance parity for IPv6 security inspection.
The next version of FortiOS™ will continue our objective to provide real value to our customers by introducing significant performance improvements on existing hardware platforms and an extensive range of new features and additional security capabilities. In many cases there will be up to 5 times performance improvements for inspection of application and content layers including significant improvements for SSL inspection. In addition there are exciting developments in our complementary solutions covering DDoS, Application Delivery across both appliance based and cloud based solutions, Web Application Layer and of course Software Defined Networking (SDN). These all demonstrate Fortinet’s commitment to providing a unique combination of performance, security and value to our customers.