LAS VEGAS—Rahul Yadav, chief technology officer (CTO) at Milestone Systems, sat down with Security Systems News (SSN) at ISC West to discuss what’s behind the company's record-breaking year, why it's committing to Responsible Technology and open platforms, and how a “true transformation” is taking place that will influence its future. SSN: Milestone recently announced net revenues of DKK 1.69 billion (approximately $244.9 million) for the year. What factors contributed to this record-breaking result? YADAV: First and foremost, our product is the key factor. As the industry shifts toward integrated AI solutions, cloud solutions and all manner of hybrid solutions, our open platform data-driven video management software has become a key component of what integrators and end-users are now looking for to enable next-gen solutions. In my customer visits around the world over the past year, one thing stands out – Milestone’s XProtect is synonymous with a product that is stable, reliable and secure. We have a very strong brand, and the numbers reflect the strength of our products and the trust that our customers place in us. Additionally, our sales team across the regions work relentlessly with our channel partners and customers to ensure we stay relevant to the market. Our channel partners, in particular, play a critical role - they do a great job representing and supporting our products. SSN: In 2023, Milestone established its Responsible Technology program, advocating that technology should be developed, sold, and used responsibly. How will these principles guide Milestone's products, services, and interactions throughout the value chain? YADAV: For me, it's not just about selling technology responsibly, it's about embracing responsibility by design. We want to ensure that our principles of transparency, data privacy and responsible technology are not only adhered to but embedded throughout our organization from the earliest phases of product development to our technology’s deployment and use. We need to ensure these principles are also followed by our partners. In our industry, where we deal with business-critical systems and software, building trust through responsible practices is becoming a license to operate. There's a lot happening internally at Milestone to ingrain this mindset. As the industry consolidates, smaller players may find it challenging to comply with all the regulations. Companies like Milestone have the scale to do it correctly, and we are committed to developing products responsibly. SSN: What's on the technology horizon for Milestone in 2024, particularly in terms of cloud and video analytics? YADAV: You can expect to see us working even more closely with our technology partners. We have a huge ambition in this area, and as part of our new strategy. We have created a dedicated “Technology Partnerships and Open Platform” unit that reports directly to me. We are going to focus on supporting our technology partners to develop innovative solutions by providing modern APIs, clear documentation, and enhanced support. In 2024, we are starting the transformation of our core product, XProtect. We will double down on our open platform philosophy to give our end customers the freedom of choice in the systems and solutions they use with XProtect. Responsible Technology and our open platform commitment will be key focus areas, driven by customer demand for integration possibilities and the ability to choose the best components for their needs. SSN: Is there anything else you would like to share with our readers? YADAV: We are in the midst of a true transformation at Milestone, building the company for the next 25 years from a technology and product perspective. This is one of the biggest evolutions of our product and technology organization to date. We are laying the right foundation to continue delivering innovative, responsible solutions to the market and to our partners and customers.
