Each year we invite Andras Cser, Forrester analyst on privileged identity management, for a day-long workshop at Thycotic HQ in Washington, DC. During the visit we update Andras and receive constructive feedback on Thycotic solutions, company direction, alliances and partnerships, as well as talk about emerging trends in IT security.
Here’s what you should know from Forrester’s visit
Forrester estimates that 35-45% of all data breaches involve misuse of administrative privileges. While some businesses are doing privileged account management (PAM) right, it is still a growing need with evolving requirements. For example, over the last year, Forrester noticed companies that already have a privileged identity management (PIM) solution are using it to share credentials, perform session recording for enhanced security, ensure they have tamper-resistant auditing of user actions, and even enforce controls over social media accounts.
However, Forrester is also seeing more focus on privileged account management by auditors. Auditors increasingly want to know not just who has checked out which password and what they did with that password, but also:
- Who has access to each password
- Who requested what elevation of privileges
- How the above shapes PIM policies
- Periodic recertification/attestation campaigns
Andras recognized several Thycotic strengths this year, noted in his 2014 SWOT analysis.
- Strong sales strategy. We take a consultative approach with customers, focusing on their unique problems, and helping them see value immediately in the proof of concept.
- Organized, well balanced corporate culture. Our team structure empowers employees, making it possible for us to tackle challenges quickly.
- Emerging industry partnerships and alliances. With an ever-expanding channel partner program aggressively moving into the EMEA and APAC regions, Andras was happy to see this business unit grow significantly from last year. Also with an impressive 400% growth of our technology alliance program since 2013, Thycotic firmed up its security offering by integrating with best in breed solutions such as Varonis, SailPoint, BalaBit, Splunk and many others.
As Thycotic continues to grow, we carefully consider analyst suggestions alongside feature requests from our customers in an effort to shape the strongest product road map possible. We want to thank Andras and Forrester for their continued support and expertise. Until next year!
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