Talking with Security MEA, Besfort Kuqi, Co-Founder and CEO of Swiss GRC, shared insights into the company’s remarkable journey and plans for the Middle East. He highlighted that right-to-left Arabic language support, a local data centre for data residency, and ease of implementation, use, and affordability would help the company achieve $2 million in revenue within the first year.
How would you describe Swiss GRC?
Swiss GRC is a comprehensive platform specialising in governance, risk management, and compliance (GRC) solutions. It helps organisations streamline their GRC processes by offering tools for risk assessment, regulatory compliance, and internal audits. Swiss GRC’s software integrates data management, analytics, and reporting to enhance decision-making and ensure adherence to regulations. Its user-friendly interface and customisable features make it a valuable asset for businesses aiming to maintain high standards of corporate governance and risk mitigation.
How has the company grown over the years?
With a humble beginning less than a decade ago, after spotting a gap in the market, we developed our own solution, GRC Toolbox, which has revolutionised the market. Swiss GRC became Switzerland’s leading GRC software provider in the shortest possible time. Since then, the company has been growing and expanding into the DACH region.
Today, we are growing at an average annual rate of 40-50% and want to expand our footprint worldwide. Our offices in Frankfurt and London help us increase our reach in Europe. After recognising the rising demand in the Middle East, the company now targets this market, emphasising simplicity, affordability, and integration to meet diverse organisational needs.
How do you intend to navigate the unique challenges of the Middle Eastern markets?
To navigate the unique challenges of the Middle Eastern market, the company has adopted a hybrid strategy of direct sales and partnerships with local players. We have also onboarded Rajiv Dutt, who has spent over 20 years in the region, has a wealth of experience, and is well-connected in the industry.
Emphasizing the importance of understanding local regulations, data residency, and language preferences. It is important to note that our GRC Toolbox is now available in Arabic with right-to-left language support and offers a fully localised experience. This platform consolidates all GRC activities and regulatory requirements, catering specifically to the Middle East market. The company offers a modular and scalable GRC platform tailored for the region.
This approach ensures the platform meets regional requirements and provides flexibility, allowing businesses to adapt the solutions to their specific needs and regulatory environments. The company’s commitment to localising its offerings is key to its strategy for success in the Middle East.
What kind of opportunities are you looking at in the Middle East region?
We are confident in the company’s success in the Middle East and are ready to meet the growing demand in the region with deployment models of On-Premise, Private Cloud, and SaaS in line with the local Regulatory standards and framework. We already have a few successes to our credit in the region. Rotana Hotels and Al Fardan Exchange are some of the leading names in the region that are using our GRC.
We anticipate achieving an annual revenue of around $2 million within the first year of operations, initially focusing on the GCC (Gulf Cooperation Council) countries. The company plans to expand to other regional markets, including Egypt, in the future. This strategic approach positions the company to capitalise on the growing need for robust GRC solutions across the Middle East, driving regional growth and long-term success.