Check Point Software Technologies announced stronger-than-expected quarterly results, but CEO Gil Shwed believes the cybersecurity company can work even more effectively with channel partners.
During an earnings call will Wall Street analysts, Shwed pointed out that Check Point has always been a channel company. "Having said that, we can do much more today with the channel. I think we can leverage the channel much more," he noted.
To do so, Shwed said Check Point needs to:
- Create the right business environment for the channels to succeed; and
- identify new partners where they are needed -- perhaps in terms of region or specialization.
Check Point's channel leadership is "working hard" on those priorities. But Shwed also conceded: "I can’t say that I have today a huge drive of business that’s new from the channel yet, but I hope that it will come. We are very committed to that. I think our channels are committed, I think eventually that can lead to a business expansion and more new customers and more opportunities."
Check Point Partner Program, Cloud Services
Check Point in January 2020 announced the Partner Growth Program, a global partner program designed to help VARs and MSSPs deliver next-generation security services and acquire new customers.
Check Point certainly has a growing portfolio of solutions for partners. The lineup now includes an expanded CloudGuard family of products for threat prevention, posture management, and zero trust access to cloud resources.
Also, the Infinity SOC help security teams cut through the daily overload of alerts, and reduce network blind spots to expose, and shut down cyberattacks, the company asserts.
Check Point Financial Results, Competition
For Check Point's second quarter ended June 30, 2020, total revenue was $506 million, a 4 percent increase year over year. Also, net income was $196.4 million -- up from $185.5 million in the corresponding quarter last year.
The figures generally beat Wall Street's expectations. But Check Point's rivals also are on the move. Companies such as Barracuda Networks, Cisco Systems, Fortinet, Palo Alto Networks, SonicWall, Sophos and WatchGuard (among others) have been building MSP- and MSSP-centric partner programs.
Also, rivals have been buying MSP- and MSSP-friendly technology companies. Example deals with MSSP partner applications include Fortinet buying Opaq Networks; VMware purchased Lastline; and Palo Alto Networks acquiring CloudGenix.
Amid that competitive landscape, Check Point delivered those better-than-expected financial results. And it's clear Shwed is looking to double down on partner engagements.