Thycotic Channel Partner Sales Accelerate with Exploding Demand for Privileged Access Management Solutions
Announcement posted by emt Distribution 21 Feb 2019
New Investments in Sales Team to Help Australian and New Zealand Partners Meet Increasing Demand for PAM with Thycotic Non-U.S. Channel Sales Up 208 Percent
ADELAIDE, Australia, February 21, 2019 – Thycotic, provider of privileged access management (PAM) solutions for more than 10,000 organisations worldwide, has announced record growth in 2018 across all segments within the company’s indirect channel business and investments in expanding its ANZ team to help its partners in Australia and New Zealand meet the increasing demand.
Channel partners have captured exponential gains across the globe from PAM sales with Thycotic, more than tripling its non-U.S. channel sales volume with a 208 percent annual growth rate.
“With analysts like Gartner citing privileged access management as a top cyber security priority for enterprises, Thycotic’s channel partners are seeing a phenomenal surge in demand for PAM solutions,” said Jim Legg, CEO of Thycotic. “Our partners are seeing how well Thycotic PAM solutions resonate with larger organisations, and by investing in Thycotic they can attract and acquire new business in their existing account base as well as new customers overall.”
Analysts at Gartner have projected that by 2022, 70 percent of organisations will implement privileged access management practices for all use cases in the enterprise, which is a significant increase from 40 percent today.1
As a 100 percent channel business, Thycotic is a very attractive vendor for enterprise and mid-market focussed integrators, managed security service providers (MSSPs), MSPs and traditional reseller partners. Thycotic’s local support provides fast enablement and routes to additional revenue streams for partners to provide critical security services around privileged access which have been overlooked in the past.
“Thycotic’s cloud offerings have revolutionised PAM deployment for organisations which previously hadn’t considered investing in infrastructure dedicated to PAM compliance and improved security,” said Andrew McAllister, Thycotic APAC Regional Director. “Our new PAM-as-a-Service delivery models have opened up dialogues with mid-sized MSPs and MSSPs. They are looking to better manage the way they handle their own credentials and their customers’ credentials.”
“Thycotic’s unique PAM offerings, especially in the cloud, are very attractive to mid-market organisations looking for easily deployable solutions that provide quick ROI and time-to-value,” said Thycotic Mid-Market Sales Manager, Victoria Scully. “Our expanded ANZ sales team can help organisations looking to improve their privileged access security footprint and assist our partners in providing the right PAM solution.”
Highlights of Thycotic’s 2018 channel performance include:
1Best Practices for Privileged Access Management Through the Four Pillars of PAM, Published: 28 January 2019, ID: G00376315
For more information on Thycotic, visit www.thycotic.com.
About Thycotic
Thycotic is the leading provider of cloud-ready privilege management solutions. Thycotic’s security tools empower over 10,000 organisations, from small businesses to the Fortune 500, to limit privileged account risk, implement least privilege policies, control applications, and demonstrate compliance. Thycotic makes enterprise-level privilege management accessible for everyone by eliminating dependency on overly complex security tools and prioritising productivity, flexibility and control. Headquartered in Washington, D.C., Thycotic operates worldwide with offices in the UK and Australia. For more information, please visit www.thycotic.com.
Channel partners have captured exponential gains across the globe from PAM sales with Thycotic, more than tripling its non-U.S. channel sales volume with a 208 percent annual growth rate.
“With analysts like Gartner citing privileged access management as a top cyber security priority for enterprises, Thycotic’s channel partners are seeing a phenomenal surge in demand for PAM solutions,” said Jim Legg, CEO of Thycotic. “Our partners are seeing how well Thycotic PAM solutions resonate with larger organisations, and by investing in Thycotic they can attract and acquire new business in their existing account base as well as new customers overall.”
Analysts at Gartner have projected that by 2022, 70 percent of organisations will implement privileged access management practices for all use cases in the enterprise, which is a significant increase from 40 percent today.1
As a 100 percent channel business, Thycotic is a very attractive vendor for enterprise and mid-market focussed integrators, managed security service providers (MSSPs), MSPs and traditional reseller partners. Thycotic’s local support provides fast enablement and routes to additional revenue streams for partners to provide critical security services around privileged access which have been overlooked in the past.
“Thycotic’s cloud offerings have revolutionised PAM deployment for organisations which previously hadn’t considered investing in infrastructure dedicated to PAM compliance and improved security,” said Andrew McAllister, Thycotic APAC Regional Director. “Our new PAM-as-a-Service delivery models have opened up dialogues with mid-sized MSPs and MSSPs. They are looking to better manage the way they handle their own credentials and their customers’ credentials.”
“Thycotic’s unique PAM offerings, especially in the cloud, are very attractive to mid-market organisations looking for easily deployable solutions that provide quick ROI and time-to-value,” said Thycotic Mid-Market Sales Manager, Victoria Scully. “Our expanded ANZ sales team can help organisations looking to improve their privileged access security footprint and assist our partners in providing the right PAM solution.”
Highlights of Thycotic’s 2018 channel performance include:
- Non-U.S. channel grew at 208 percent in new business revenue growth vs FY17 and was preceded by a 74 percent increase in deal registration activity for the same period.
- Opened a data centre to support PAM cloud growth through partners in Australia.
- Thycotic entered into an original equipment manufacturing (OEM) agreement with IBM Security in late 2018. This partnership comes with an increased need for organisations to secure privileged accounts that are connected to just about every device on the network.
- CRN also recognised Thycotic’s Partner Program as a 5 Star Winner in the CRN Partner Program Guide.
1Best Practices for Privileged Access Management Through the Four Pillars of PAM, Published: 28 January 2019, ID: G00376315
For more information on Thycotic, visit www.thycotic.com.
About Thycotic
Thycotic is the leading provider of cloud-ready privilege management solutions. Thycotic’s security tools empower over 10,000 organisations, from small businesses to the Fortune 500, to limit privileged account risk, implement least privilege policies, control applications, and demonstrate compliance. Thycotic makes enterprise-level privilege management accessible for everyone by eliminating dependency on overly complex security tools and prioritising productivity, flexibility and control. Headquartered in Washington, D.C., Thycotic operates worldwide with offices in the UK and Australia. For more information, please visit www.thycotic.com.