prooV shortens time to market

In this era of rapidly advancing technology, companies have to be quick to market with new technologies just to maintain their position, never mind gain share.

These decisions are crucial, with a long list of factors needing to be weighed. Prototypes need to be developed and tested. Take all of these steps and there is still plenty of guesswork along the way.

prooV removes that guesswork while allowing financial services companies to quickly get their technology functioning, co-founder and CEO Toby Olshanetsky said.

Billing itself as the first Pilot-as-a-Service platform, prooV unites global enterprises, startups and independent software vendors to discover, connect, execute and evaluate proofs of concept (proof of concepts?)through remote, secure and data-rich testing environments.

Toby Olshanetsky (centre)

“The prooV platform allows enterprises to come to the platform using a simple wizard and a few clicks of a mouse to develop a testing environment on their cloud,” Mr. Olshanetsky said.

prooV brings the marketplace to companies so they do not have to have to search for and evaluate each possible vendor, he explained. More than 4,000 vendors expressed interest in joining the platform, with prooV accepting 1,200 that were both financially and technically sound.

A client can begin the process by searching for company names or specific capabilities to generate a list of possible partners, or they can publish their specifications on the platform and invite companies to submit.

Then the fun starts. prooV uses deep mirroring techniques to develop a smart API  that reproduces a company’s IT environment. That is a crucial step, Mr. Olshanetsky explained.

“With innovative technologies, some may have no clue how to connect their old method to this. You want to make sure at the proof-of-concept phase that you choose vendors based on technological similarity.”

prooV’s biggest selling point is its ability to link to legacy technology, he added. They can connect with more than 50 operating systems and 15 different databases. If they are approached with a system or database that has not been added, prooV will add it.

“The whole idea is we will help make all of these connections,” Mr. Olshanetsky said.

Once the proof-of-concept environment is established clients can choose their own data markers, Mr. Olshanetsky explained. Layers of KPIs allow for accurate vendor comparisons, while prooV’s predictive analytics produce a rules-based prediction of what occurs when the technology hits live production.

Included is the ability to check for security vulnerabilities, he added. Earlier this week prooV unveiled prooV Red Cloud, a private cloud that enables customers to conduct simulated cyber attacks on technologies in the proof-of-concept stage. That allows a technology’s defence and response capabilities to be tested prior to implementation.

A common pitfall of other red team testing models is a company’s security defences block the threats a company wishes to test against.

“In today’s aggressive threat environment, organizations need to ensure that their new solutions are scrutinized against the latest threat vulnerabilities during the PoC process – before they’re deployed,” Mr. Olshanetsky said. “To eliminate the roadblocks that our startup and enterprise customers faced with public cloud environments, we created prooV Red Cloud to run red team simulations on their technologies undergoing PoC. We are always looking for ways to give our customers the best possible experience when developing and testing new solutions on our platform.”

The pressure to gain a technological advantage has never been more acute, Mr. Olshanetsky said. Developers have to create the right solutions, and fast, lest a competitor gain an advantage. That process is impaired in the traditional environment where one has to muddle through legal and IT approvals, research production and vendor screening and approval before development and testing can occur. That can mean two years before a new technology is ready for deployment, and given the current market pace, it could be old before it is activated.

With prooV you can have a proof-of-concept in three months, Mr. Olshanetsky said.

“You can offer multiple proof-of-concepts simultaneously…and normalize results from different designs.”

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Tony Zerucha:

Tony Zerucha is the managing editor of Bankless Times.

A two-time LendIt Journalist of the Year nominee and winner in 2018, Tony has written more than 2,000 original articles on the blockchain, peer-to-peer lending, crowdfunding and emerging technologies over the past seven years, making him one of the senior writers in the alt-fi sector.

"The evolution of the crowdfunding and peer-to-peer lending scenes is absolutely fascinating to chronicle. It is a joy to be around people with such passion and vision."

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