Jarno Limnéll, CEO, Tosibox Oy
The year 2019 is far advanced, and the outlook is good. This spring has kept us busy in a good way, and we are focused on doing a lot – and on doing the right things. The prioritization of work and activities are made easier by both our strategy and our mission: changing the world by simplifying secure digital connections.
The global market for the Internet of Things (IoT) security is expected to grow at a rate of 33.7 percent in 2018–2023, from $8.2 billion to $35.2 billion. The most significant factors driving this growth are the increasing number of ransomware attacks on IoT devices all over the world, the growing IoT security regulations and the concern over the security of critical infrastructures. New kinds of IoT threats, lack of awareness, costly IoT security solutions, and the budget constraints for SMEs may, however, limit the growth of the market. Tosibox’s user-friendly and cost-effective technology is perfect for solving these obstacles of growth.
Recently I had the honor of speaking at the International Conference on Cyber Engagement in Washington. In my presentation I brought up aspects of IoT security. As the growth of IoT and IoE (Internet of Everything) accelerates, the security of connected devices is a necessity. If security is not taken care of, “smart” means the same as exploitable and vulnerable. The currency of IoE is data, and connectivity changes the world by enabling even faster and more massive data collection. In the IoE era, the question of “what and whom can we trust” will become much more important. Maintaining and strengthening trust is at the heart of IoE. In order to do that, we need to be able to simplify, be brave and act in a trusted way.
Our flagship product continues to triumph around the world: Control Engineering Poland has chosen TOSIBOX® Lock 500 as the Product of the Year. We will soon start the product’s customer deliveries with FCC and UL markings also to North America, which is one of our main market areas. According to feedback, the market is very much looking forward to the product. Once the FCC approval is added, our customers will be able to utilize this award-winning high-performance connectivity device globally.
The software business plan we have prepared will show the direction for future product development and sales activities. We are currently developing new software products that will expand our product portfolio. Moreover, we are developing our existing software products, which will heavily increase also their demand.
In software business the growth potential is multifold, but it also requires from us a new approach towards sales and marketing. We’re in the process of developing an ecommerce platform that will enhance our customers’ ordering and delivery process and result in a new sales channel for us.
We have also initiated the Tosibox 360˚ project, in which we want to develop the comprehensive Tosibox customer and brand experience. We want to offer a first-class customer experience that will even contribute to the accelerating of our sales.
Tosibox is not only growing in terms of market share but also as a company. The key success factor in realizing our vision are the people. We have welcomed several new reinforcements especially to our product development. We need resources in order to run and develop our software business while maintaining a competitive range of hardware products.
In April we appointed Markku Pitkänen as Chief Sales Officer (CSO). Markku has a long career in executive sales management positions in technology companies. He will lead the company’s sales organization and work closely together with other Tosibox operations and our global partner network. Markku is also a member of Tosibox Group Executive Management Team.
The Tosibox family has also grown with a new member of the Board, with Mika Vihervuori appointed in the general meeting to join Tosibox Board. Mika has expertise in strategy and change management, and he is the CEO of Viria Plc, a company specialized in corporate security and digital services. Mika’s involvement complements our Board’s solid expertise in an excellent way.
As is typical in a growth company, nobody gets to be “the new guy” for very long before even newer joiners enter the mix. To me, these past nine months at Tosibox have been both rewarding and a learning experience. I look forward to the future with great confidence.
“In the IoE era, the question of “what and whom can we trust” will become much more important.”
Jarno Limnéll, CEO, Tosibox