PHOENIX--(BUSINESS WIRE)--BeyondTrust®, the security industry’s only provider of context-aware solutions for privilege and vulnerability management, continues to build momentum for the company’s privileged account management (PAM) portfolio. The last year has been one of tremendous growth for BeyondTrust, realizing Q3 new business growth approaching 40 percent year-over-year. Additionally, the company has seen a nearly 50 percent increase in total bookings year-to-date versus the first three quarters of 2013.
According to Gartner’s June 2014 “Market Guide for Privileged Account Management,” Gartner has estimated the vendor revenue for PAM licenses, hosting, support and maintenance reached $450 million in 2013, up from $325 million in 2012.” Gartner states, “Interest in PAM technology has risen sharply during the past year, driven by several factors:
- Regulation and failed audits, because auditors are paying closer attention to privileged accounts, and regulations are forcing organizations to create an irrefutable trail of evidence for privileged access.
- The risk of insider threats.
- The existence of malware that specifically targets privileged accounts.
- Outsourcing of IT operations to contractors and external vendors who gain extended and, in many cases, uninterrupted access to sensitive information and critical corporate assets.
- IT service providers that manage infrastructure for multiple enterprises, creating a need for audit trails of who is accessing which client's infrastructure.”
In October 2013, BeyondTrust released a “Privilege Gone Wild” survey based on the responses of 265 IT decision makers. The findings revealed 44 percent of employees have access rights that are not necessary to their current role and 80 percent of respondents believed it was at least somewhat likely that employees access sensitive or confidential data out of curiosity. In regards to market direction, over three-quarters of respondents said the risk to their organization caused by the insecurity of privileged users will increase over the next few years.
“There is clearly a growing interest and need for security solutions addressing PAM. Beyond that, companies are seeing the significant damage that can be accomplished by users with excessive privileges,” said Kevin Hickey, President and CEO, BeyondTrust. “At BeyondTrust, we’re ahead of the curve in providing customers the latest for what’s needed to manage employee privileges, as the company has been a privilege management shop since its inception. We’re glad the industry is starting to notice a security hole that’s been on our radar for years.”
To arm the industry with the latest in PAM technologies, BeyondTrust offers a complete portfolio to address this growing security concern. The company’s PowerBroker suite of products manages several different environments from Windows servers and desktops and UNIX, Linux and Mac OS X servers to privileged password management across all platforms. Over the past year, BeyondTrust has added multiple capabilities to all of their PowerBroker solutions and incorporated updated reporting tools. The reporting tools are key for managing industry mandates including SOX, HIPAA, PCI DSS, GLBA, PCI, FDCC and FISMA, which we believe address the “regulation and failed audits” bullet shared above from Gartner.
“BeyondTrust differentiates itself by providing additional functionality for cloud environments,” said Brad Hibbert, VP of Product Strategy and Operations, BeyondTrust. “We provide solutions such as autodiscovery, in-depth inventory across Amazon AWS, VMware vCenter, GoGrid, Rackspace and IBM SmartCloud environments. We also bundle our BeyondInsight IT Risk Management Platform with our PAM products at no additional charge. BeyondInsight adds centralized security intelligence capabilities, asset discovery, reporting and analytics, workflow and ticketing, as well as alerting.”
BeyondTrust empowers security-conscious organizations with Context-Aware Security Intelligence, delivering Privileged Account Management and Vulnerability Management solutions that reduce IT security risks and simplify compliance reporting across heterogeneous IT environments.
Our customers not only mitigate user-based risks arising from misuse of system or device privileges, but also identify and remediate asset vulnerabilities targeted by cyber-attacks. As a result, they address both internal and external threats, while making every device – physical, virtual, mobile and cloud – as secure as possible. BeyondTrust solutions are unified under the BeyondInsight IT Risk Management Platform, which provides IT and security teams a single, contextual lens through which to view user and asset risk.
More than half of the companies listed on the Dow Jones Industrial Average rely on BeyondTrust to secure their enterprises. Customers include 8 of the world's 10 largest banks, 8 of the world's 10 largest aerospace and defense firms, and 7 of the 10 largest U.S. pharmaceutical companies, as well as renowned universities across the globe.