Cybeats Unveils New Product at RSAC 2024; The First-Ever ';BCA Marketplace' Offers a Hub for Leading Cybersecurity Solutions

Rhea-AI Summary

Cybeats Technologies Corp. unveils their new BCA Marketplace at RSAC 2024, a hub for leading cybersecurity solutions. The Marketplace aims to simplify the purchasing process for organizations by offering high-quality SBOM generation tools in one centralized location. This initiative will help users fast-track compliance with leading BCA vendors joining the community. Cybeats also introduces a second product to strengthen ties with cybersecurity vendors and streamline access to customer needs.

Positive

• The BCA Marketplace provides instant access to high-quality SBOM generation tools, accelerating security operations and regulatory compliance for organizations.

• The collaboration with leading vendors in the cybersecurity space empowers organizations with a frictionless platform to access advanced software security solutions.

• The new BCA Marketplace offers ready-made regulatory compliance, facilitating the generation of industry-standard SBOMs in minutes.

Negative

• The new EU Cyber Resilience Act regulations may increase the pressure on organizations to comply with SBOM reporting, potentially leading to fines or penalties for non-compliance.

• Organizations may face challenges in integrating SBOMs into their daily operations and existing tools, requiring a holistic approach to SBOM generation and management.

TORONTO, May 6, 2024 /PRNewswire/ - Cybeats Technologies Corp. ("Cybeats'' or the "Company") (CSE: CYBT) (OTCQB: CYBCF) is pleased to unveil its new BCA Marketplace¹ (the "Marketplace"), a product designed to aggregate leading 'Binary Composition Analysis' (BCA) and Software Bill of Materials (SBOM) vendors. This marketplace simplifies the purchasing process for organizations, offering high-quality SBOM generation tools in one centralized location.

The Company officially launches the offering at RSAC 2024, and will be celebrating the announcement by co-sponsoring the 3rd Annual RSA SBOM Meetup on May 6, 2024. This first-ever community of leading BCA vendors, starting with CodeSecure² who has already joined the Marketplace, will help users to fast-track their compliance. The addition of Cybeats' second product, on top of SBOM Studio, also provides the opportunity to strengthen industry ties with leading cybersecurity vendors and mutually benefit from streamlined access to customer needs.³

"Our new BCA Marketplace is a true one-stop shop for SBOM generation tools that strengthen the organizational capabilities and efficiencies for managing security risks. We're bringing the leading vendors together onto our unified technology platform, so that we can provide customers instantaneous access with superior product selection. Gone are the days of waiting weeks for quality SBOM generation. The marketplace facilitates the generation of high-quality SBOMs in minutes, for streamlined security operations and enhanced regulatory compliance," said Dmitry Raidman, CTO, Cybeats.

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1 https://www.cybeats.com/BCAmarketplace

2 https://codesecure.com/

3 https://www.cybeats.com/sbom-studio

Building a More Secure Future, Together

Cybeats' BCA Marketplace unites industry-leading vendors, in order to empower organizations with a single, frictionless platform that provides democratized access to advanced software security solutions. Some highlights of the first-ever BCA Marketplace include:

• Instant Results: Generate high-quality SBOMs in minutes
• Ready-Made Regulatory Compliance: SBOMs generated through the BCA Marketplace are designed to meet industry standards, accelerating your path to compliance
• Seamless Integration: Effortlessly generate SBOMs, improving compliance and efficiencies with no complex integration or technical expertise required

"The world of SBOMs is rapidly maturing including the need for SBOMs generated from Post-Production Applications. Security professionals deserve and now expect easy access to SBOM generation, and we're excited to partner with Cybeats to make achieving compliance as easy as possible for our customers." said Vince Arneja, CPO at CodeSecure.

"For SBOMs to be an effective mechanism for aiding in the security of the software supply chain at scale, they must be operationalized, and integrated into daily operations, existing tools, and security ecosystems. Solutions like Cybeats BCA Marketplace can help organizations establish a holistic, efficient, and quality-driven approach to SBOM generation and management. Cooperative approaches such as this can help solve a long-standing need for security practitioners - ultimately leading to a more secure software supply chain," said Katie Norton, Research Manager, DevSecOps and Software Supply Chain Security at IDC

New EU Regulation, Increased Need for SBOMs

New January 2024 cybersecurity regulation by the European Union's (EU) Cyber Resilience Act (CRA) puts forth that failing to comply with Software Bill of Materials ("SBOM") reporting could lead to a €15 million administrative fine or 2.5% of an organization's gross sales, whichever is higher.⁴ This enhanced oversight by the EU increases the need for SBOM, and for solutions that facilitate compliance with these new requirements.⁵ This new CRA covers all products with software as well with a direct or indirect connection to a device or network, which includes standalone software as well as Internet of Things (IoT), operational technology, or other tangible devices, such as televisions, laptops, baby monitors, etc., for both enterprises and consumers.

To generate your first SBOM on the marketplace, please visit: https://cybeats.com/BCAmarketplace

To become a vendor on the marketplace, please email: dmitry@cybeats.com

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4 https://shorturl.at/EMTW2

5 https://www.cybeats.com/blog/why-sboms-are-critical-to-complying-with-the-eu-cyber-resilience-act

About Cybeats
Cybeats is a cybersecurity company providing SBOM management and software supply chain intelligence technology, helping organizations to manage risk, meet compliance requirements, and secure their software from procurement to development and operation. Our platform gives customers comprehensive visibility and transparency into their software supply chain, enabling them to improve operational efficiency and increase revenue. Cybeats. Software Made Certain. Website: https://cybeats.com 

SUBSCRIBE: For more information, or to subscribe to the Company's mail list, visit: https://www.cybeats.com/investors

Forward-looking Information Cautionary Statement
Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for the products described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Company filings are available at sedarplus.ca.

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SOURCE Cybeats Technologies Corp.

FAQ

What is the new product unveiled by Cybeats at RSAC 2024?

Cybeats unveiled the BCA Marketplace, a hub for leading cybersecurity solutions.

What is the benefit of the BCA Marketplace for organizations?

The BCA Marketplace provides instant access to high-quality SBOM generation tools, accelerating security operations and regulatory compliance.

What regulations may increase the need for SBOMs according to the PR?

The new EU Cyber Resilience Act imposes regulations that could lead to fines or penalties for non-compliance with SBOM reporting.

How can organizations generate their first SBOM on the marketplace?

Organizations can generate their first SBOM on the marketplace by visiting: https://cybeats.com/BCAmarketplace

How can one become a vendor on the marketplace?

To become a vendor on the marketplace, email: dmitry@cybeats.com