News

NICOSIA, 16/11/2023 — TheMagnet®, a management and technology consulting firm, is pleased to announce that its CEO, Periklis G. Theodoridis, has been featured in the November 2023 issue of InBusiness Magazine. In an exclusive interview, Periklis discusses the company’s vision, profile, and services.

In the interview, Periklis delves into TheMagnet®’s commitment to pushing the boundaries of technology to create solutions that transform industries, positioning TheMagnet® as a key player in the rapidly evolving tech landscape.

“We are thrilled to have had the opportunity to share our story with InBusiness Magazine,” said Periklis. “At TheMagnet®, we believe in the power of management and technology consulting to drive positive change. Our team is dedicated to pushing the limits of what’s possible, and this interview is a testament to the incredible work they do every day.”

TheMagnet® has been at the forefront of business development and technological advancements, providing solutions that empower businesses to thrive in an increasingly demanding world. Periklis emphasizes the importance of collaboration and partnerships in the industry, highlighting TheMagnet®’s approach to working with clients, startups, and other industry leaders to foster innovation.

TheMagnet® invites readers to explore the full interview in the November 2023 issue of InBusiness Magazine, available both in print and online InBusiness digital edition.

For media inquiries or further information, please contact [email protected].

About TheMagnet®: TheMagnet® is a management and technology consulting firm providing expertise and guidance through its Ecosystem to businesses in areas related to management, strategy, and technology. We work closely with organisations to analyse their current operations, identify areas for improvement, and develop tailored solutions to address specific challenges and goals. We combine expertise in management principles, industry knowledge, and business & technology acumen to help businesses overcome challenges, optimise their operations, and drive sustainable growth.

Nicosia, Cyprus; 28 September 2023

Digital innovation helps enterprises to flourish and keep ahead of the competition. Nevertheless, the digital revolution for every company comes with risks and creates new vulnerabilities. Corporate executives need to stay current with today’s cybersecurity challenges. They need to implement strategies with which their organizations can timely identify threats, and create resilience against any form of cyber-attack. The objective of the Cyber Security Conference is to provide insights into setting up, maintaining and improving information security, protection against hybrid threats and protection of critical infrastructure of companies and institutions. This can only be achieved through education on how to prevent, detect and defend against cyberattacks.

With the Digital Revolution sweeping the globe, all businesses, large and small corporations, organizations, and even governments are relying on computerized systems to manage their day-to-day operations, protecting data from internet assaults and unauthorized access is a significant responsibility for the company. As news of data breaches, ransomware, and hackers become the norm, continuous technological development necessitates a corresponding movement in cybersecurity practices.

Our own Senior Advisor Andreas Christoforides analysed the current cyber threat landscape and the cyber risks that Cyprus businesses are facing today. “Cybersecurity is not just about protecting data; it’s about protecting people.” This quote perfectly captures the essence of what we do at TheMagnet®. We believe that safeguarding your digital world is more than just safeguarding information; it’s about safeguarding you. Your security is our priority! 🌐🛡️

About TheMagnet® Cybersecurity

We are a specialised cybersecurity consulting team, offering a range of cutting-edge services to fortify your business against ever-evolving cyber threats. At TheMagnet® Cybersecurity, we understand that cybersecurity is not a one-size-fits-all solution. That’s why our team customises our services to meet your unique requirements, enabling you to stay one step ahead of cyber threats.

With us as your cybersecurity ally, you can focus on your core business while we keep your digital assets safe and secure. Protect your future with TheMagnet® Cybersecurity today. Visit https://themagnet.com.cy/services/themagnet-cybersecurity/.

TheMagnet®, a management and technology consulting firm, is pleased to announce that it has been assigned by the Department of Labour Inspection to provide its expertise and services for recording the business and technical requirements and preparing a relevant study and tender documents for the development, installation and operation of a new Computerized System. This system aims to replace the existing system currently in use.

The Department of Labour Inspection has recognized the need for a modern and efficient computerized system to streamline its operations and enhance its ability to record requirements accurately. TheMagnet® has been entrusted with the responsibility of conducting a comprehensive study to understand the specific needs of the department and prepare the relevant tender documents.

TheMagnet® brings its extensive consulting experience and commits to delivering a comprehensive study that will meet the unique requirements of the Department of Labour Inspection.

“We are delighted to have been selected by the Department of Labour Inspection for this important project,” said Periklis G. Theodoridis, CEO at TheMagnet®. “We understand the significance of this computerized system in improving the efficiency and effectiveness of the Department’s operations. Our team is dedicated to delivering a comprehensive study that will not only allow to replace the existing system but also provide advanced features to enhance the Department’s capabilities.”

The collaboration between TheMagnet® and the Department of Labour Inspection is a testament to the expertise and reputation of TheMagnet® in providing high-quality technology consulting solutions. By leveraging its industry knowledge and innovative approach, TheMagnet® is committed to delivering a study that will enable the Department of Labour Inspection to achieve its operational goals more efficiently.

TheMagnet® team comprises of the Senior Advisors, Panayiotis Kalos, Ioannis Michaelides and Christos Vassiliou.

The contract starts on the 29^th of May 2023 and is expected to end on the 30^th of November 2023.

About TheMagnet®

TheMagnet® is a leading provider of innovative, tailor-made business consultancy services and complete solutions by leveraging best practices, skills, and know-how to meet the unique needs of organizations. With a team of highly skilled professionals, TheMagnet® offers cutting-edge consulting services and complete solutions across various industries, including government agencies, private enterprises, and non-profit organizations. TheMagnet® takes pride in delivering reliable, secure, and user-friendly services that drive operational efficiency and facilitate growth.

TechIsland’s Onboarding Committee has approved TheMagnet®’s application for becoming a Supporting Member of TechIsland.

About TechIsland

TechIsland is a non-profit organisation with the vision of transforming Cyprus into the tech island of Europe. TechIsland has set an ambitious mission to make the tech industry the most impactful driver of GDP growth, tax revenue increase, and job market expansion on the island by the year 2030. Visit https://www.thetechisland.org/. 

About TheMagnet®

TheMagnet® is a management and technology consulting firm based in Cyprus. A platform of trusted Advisors for all type of businesses that provides innovative, tailor-made business consultancy services and solutions across all industries by leveraging best practices, skills, and know-how. Visit https://themagnet.com.cy.

TheMagnet®, a management and technology consulting firm has been assigned by the University of Cyprus to provide services for the creation of the communication plan and promotional actions for the needs of the project “Deployment of Generic Cross Border eHealth Services in Cyprus”.

TheMagnet® provides innovative, tailor-made business consultancy services and complete solutions by leveraging best practices, skills, and know-how.

According to the Directive 2011/24/EU, Cyprus established the NCP role with all the authority suggested by the cross-border Directive 2011/24/EU. The Cyprus NCPeH will act as the national contact point, adhering to the Directive and ensuring a better and safer cross-border health care. Cyprus is contributing in the deployment of eHealth solutions that are expected to increase safety and quality of care throughout the EU, notably by: providing immediate clinical information needed in an emergency abroad and ensuring continuity of care across EU borders.

The CEF-CY main objective is to support Cyprus efforts to be part of a secure peer-to-peer network allowing the seamless cross-border care and secure access to patient health information between European healthcare systems, particularly with the exchange of Patient Summary and prescription.

TheMagnet® will collaborate very closely with the University of Cyprus’s eHealth Lab, Department of Computer Science which is the coordinator of the project. TheMagnet® team comprises of Andreas Spyropoulos and Athanasios Demetriades.

Deployment of Generic Cross Border eHealth Services in Cyprus
EU Innovation and Networks Executive Agency (INEA)
Department C – Connecting Europe Facility (CEF)
Unit C4 Energy & ICT [2015-CY-IA-0095]: Jan. 2017 – Dec. 2021
Funding: 593,356 Euro (UCY 445,017 Euro)

The contract starts in May 2023 and is expected to end on April 2025.

Periklis G. Theodoridis, TheMagnet®’s CEO, commented:

“We are thrilled to have been entrusted with the responsibility of creating the communication plan and promotional actions for the project ‘Deployment of Generic Cross Border eHealth Services in Cyprus’ by the University of Cyprus.

Through strategic and impactful communication, we will amplify the reach and impact of this groundbreaking initiative. By crafting a comprehensive plan, we will ensure that the benefits and potential of these eHealth services are effectively communicated to all stakeholders.Our goal is to inspire trust, engagement, and excitement among the target audience, fostering a deep understanding of the transformative power of cross-border eHealth services. Together with the University of Cyprus, we will forge a path towards a more connected and accessible healthcare ecosystem in Cyprus, promoting a healthier and empowered society”.

Phoenix Tower International (PTI) wrapped up its highly anticipated 2023 Global Sales Meeting held in Boca Raton, Florida, from March 14-16, 2023. The meeting was attended by PTI’s sales teams from all around the world, and it was a resounding success.

The event was designed to foster collaboration and provide sales teams with the necessary tools and resources to deliver exceptional customer service. The meeting featured a series of workshops, panel discussions, and keynote speeches from industry leaders.

During the event, Mr. Periklis Theodoridis, CEO of TheMagnet® and PTI’s Senior Sales Consultant, received the 2022 High Flyer Award for Budget Exceeded in EU. This award recognises outstanding sales performance and exceeding budget goals, and it’s a testament to Mr. Theodoridis’s dedication and hard work.

PTI’s Sales and Leasing leadership commended the entire sales team for their unwavering commitment to delivering a best-in-class customer experience. The team was described as DR!VEN, motivated, and ambitious, with support from cross-functional departments to help them achieve their goals.

Overall, the 2023 PTI Global Sales Meeting was a huge success, and PTI is excited to continue working towards delivering exceptional customer service in the years to come.

About Phoenix Tower International
Phoenix Tower International (PTI) was founded in 2013 and is headquartered in Boca Raton, Florida, USA. PTI operates in Cyprus through its subsidiary M.T. Mediterranean Towers Limited. PTI’s mission is to be a premier site provider to wireless operators across the world in high-growth markets. For more information, please visit www.phoenixintnl.com.

About TheMagnet®
TheMagnet® is a management and technology consulting firm based in Cyprus. A platform of trusted Advisors for all type of businesses that provides innovative, tailor-made business consultancy services and solutions across all industries by leveraging best practices, skills, and know-how. For more information, please visit https://themagnet.com.cy.

The Consortium of TheMagnet®, a management and technology consulting firm,and P. Kalos Consulting Services Limited, a technology consulting firm, has been assigned by the Cyprus Ports Authority to provide consulting services for the implementation and application of the European Regulation 1239/2019/UE EMSWe (Regulation (EU) 2019/1239 on the establishment of a European Maritime Single Window environment) for the Cyprus Ports Authority. The Consortium provides innovative, tailor-made business consultancy services and complete solutions by leveraging best practices, skills, and know-how.

Cyprus Ports Authority is a semi-government organization which exercises public administration regarding the operation and management of Cyprus ports, port facilities, and lighthouses under the supervision of the Ministry of Transport, Communications and Works of the Republic of Cyprus.

The Consortium will collaborate very closely with the EMS which is an expert subgroup of the High-Level Steering Group (HLSG) for Governance of the Digital Maritime System and Services provides advice and expertise to the EU Commission for the matters related to Regulation (EU) 2019/1239 establishing a European Maritime Single Window environment.

The contract starts in September 2022 and is expected to end on the 31^st of December 2025.

Periklis G. Theodoridis, TheMagnet®’s CEO, commented:

“We are delighted to have been assigned this important project. Cyprus Ports Authority can count on us, as their highly supportive consulting partner, to assist them in establishing a European Maritime Single Window environment. This transaction once again demonstrates our expertise in high-profile projects.”

Panikos Kalos, P. Kalos Consulting Services Ltd’s CEO, commented:

“We are confident that the extensive knowledge and experience of both members of our consortium are a guarantee for the Cyprus Ports Authority for the success of such an important project. We look forward to working with the Cyprus Ports Authority, contributing to the success of a vital EU-wide project.”

Nicosia, Cyprus; July 14, 2022 – CITEA Board of Directors has unanimously approved TheMagnet®’s application for becoming a member of CITEA.

About CITEA

The Cyprus Information Technology Enterprises Association (CITEA) was established in 1987 and is an active member of the World Information Technology and Services Alliance WITSA, the European IT Federation DigitalEurope, and the Cyprus Employers and Industrialists Federation (OEB).

The Association’s objective is to play a determining role in the balanced growth of Information and Communication Technologies in the Cyprus economy, acting as the vehicle of change for the development of the information society.

The Association is the principal representative of information communication technology (ICT) enterprises on the island and currently numbers over 50 member companies that cover all ICT areas. Visit https://www.citea.cy.

About TheMagnet®

TheMagnet® is a management and technology consulting firm based in Cyprus. A platform of trusted Advisors for all type of businesses that provides innovative, tailor-made business consultancy services and solutions across all industries by leveraging best practices, skills, and know-how. Visit https://themagnet.com.cy.

We are deeply saddened by the loss of our colleague Phanos Pitiris at 57 years young.

Phanos stood out for his hard work, professionalism, and ethos.

Our thoughts, prayers, and support, at these difficult times, goes to his family who are facing with such a great untimely and unjust loss.

May your memory be eternal.

TheMagnet® Team

About Phanos Pitiris

In the 90s, Phanos was the co-founder and CEO of a US based company which jointly developed and marketed portable and industrial Non Destructive Evaluation solutions based on eddy current technologies to NASA, the U.S. Navy and Ford Motors. The company was also an early pioneer in the development of PC/TV technologies which incorporated the internet and media for use at home and business on large size monitors,  featured in a number of US publications such as PC Magazine. In the 90s, Phanos was also a co-founder and Senior Partner of a US based internet development company with focus on advanced web designs and applications having done work for DARPA (Defense Advanced Research Projects Agency).

In the 00s and after returning to Cyprus, Phanos closely worked with Israeli venture capitalists serving on the investment committee of a $64 million VC fund with focus on high tech startups. He also played an integral role in the development and management of a VC driven business incubator/accelerator with focus on ICT startups which within less than two years from the company’s inception was offered a €1.2 million pre-money valuation by a strategic investor. During that period, he also worked on a number of European Commission funded projects relating to innovation and entrepreneurship, visiting and/or collaborating with some of the leading incubators and technology parks in Europe and elsewhere.

In the 10s, Phanos has been spending time with a number of startup and entrepreneurial initiatives in Cyprus under different capacities such as mentor, coach and advisor.

He also served as Business Development Manager for Global Markets and International Banking at Hellenic Bank, Vice-President of the American Chamber of Commerce in Cyprus and District Governor of the American Hellenic Educational Progressive Association (AHEPA), Member of the Advisory Board of the Business School at the European University Cyprus, a Paul Harris Fellow of Rotary International and a member of CYBAN.

Until recently, he served TheMagnet®, a management and technology consulting firm, as a Senior Advisor with specialization in Innovation, Entrepreneurship, Startups, Venture Capital, and EU projects.

TheMagnet®, a management and technology consulting firm (https://themagnet.com.cy), has successfully drafted a complete set of documentation on Risk Register, Risk Assessment, Business Continuity Plan, Business Impact Analysis, and Criticality Requirements Assessment for Public Warning System through mobile phones.

The main purpose of the Risk Assessment, which includes the Contractor Risk Assessment and the Interdependencies Risk Assessment, is to provide a structured framework to identify and treat the risks involved with planning, design implementation and monitoring of a Public Warning System for the Republic of Cyprus which also takes into consideration Law 389 regulated by the Digital Security Authority.

The Business Continuity Plan, along with the Disaster Recovery Plan, describe the procedures to be carried out in the event of a major incident affecting the service of the Public Warning System. The Business Continuity Plan details the overall approach to Business Continuity and provides a framework to document and structure the response to a continuity incident by addressing the requirements for services, processes, and network systems.

The Cyprus Civil Defence is a Department of the Ministry of Interior whose main mission is the protection of the population. It is responsible for taking measures in response to natural or man-made disasters, potentially threatening human life and welfare, or even extensively damaging the island’s environment and natural resources. It is also responsible for protecting the civilian population during periods of armed conflict. The measures taken by the Cyprus Civil Defence include a series of actions regarding disaster prevention, preparation, response, strategic planning, education, mitigation, and rehabilitation at the aftermath of disasters.

TheMagnet® Advisors team comprised Periklis G. Theodoridis, Panikos Kalos, Dr. Evagoras D. Constantinides, and Mario Panayiotou.