Increased Awareness That Data Control Is Key to Corporate Security Means Success for Omada’s Iga Offerings
Enterprises understand that they need to get in control and stay in control of who has access to their data, to minimize damage when security is breached.
Copenhagen, Denmark - May 2, 2016 – Omada, a market leader in identity governance and access management, celebrates growth in customer base and a great financial result for 2015. The company accredits its success to the heightened awareness in enterprises of the necessity to control user access to data as a security measure.
Enterprises and public organizations are quickly learning that a multi-layered approach to data control is essential when it comes to securing an IT environment. Traditional efforts to secure the perimeter are essentially inadequate because hackers, by definition, will always be one step ahead of any defensive measures an IT security team can implement.
“Corporations should conduct their everyday business on the assumption that intruders are present in the infrastructure at all times. If that assumption is your baseline, and your organization acts accordingly, you are a long way towards healthy, security conscious policies and procedures. In the identity and access management industry we have been trying to get that point across for years and, fortunately, it is now catching on in organizations around the world,” said Morten Boel Sigurdsson, CEO and co-founder of Omada, who has been developing and implementing identity governance and access management solutions since 2000.
Identity governance and access management is the discipline of managing user access rights. It involves obtaining visibility and control of who has access to what data, and whether the access rights are in compliance with company security policies, as well as industry regulations and international and local legislation. By obtaining visibility and control, corporations are able to improve security systematically and efficiently. Once hackers are in, the damage they can do, depends on how easily they can access data – and data access depends on user rights and privileges, and the enforcement of security policies.
“By ensuring that as few employees as possible have access to business critical data, it is possible to contain the risk of hackers ability to successfully use e.g. ransomware to get hold of data such as customer information, research, financial and legal data,” explained Sigurdsson.
Omada continues onwards and upwards in 2016
The heightened market awareness has resulted in a large number of new customers for Omada in the past year, and despite significant investments, the company came out of 2015 with a profit of more than $4 million.
The company’s continued growth is supported by UK security investment fund C5 Capital’s decision to invest $24 million in Omada in 2015. The investment is put to good use – primarily to ramp up the partner channel, which Denmark-based Omada is relying on to accelerate growth in Northern Europe and North America, and in the shape of product improvements.
“We have a long and proud history of collaborating with strategic customers to develop best practice offerings. We have reached several product milestones based on projects to customize solutions for large enterprises such as BMW, and subsequently roll out the results in our out-of-the-box offerings. This approach is essential to how we work, and is reflected in the praise our solutions get for their flexibility, relevance and ease-of-use and –deployment,” said Sigurdsson.
He attributes Omada’s success to precisely this responsiveness to customer requirements and market trends:
“Two factors are important to our success: Our solutions are becoming more effective and adjusted to the actual needs of our customers, and the global market trend is working for us. The market is larger, and the customers have become far more aware of the need for identity governance and access management solutions and the problems they solve. In a world where cybercrime is continuously on the rise, identity management solutions are what satisfy IT auditors and protect business data from abuse, fraud and damage to the corporate brand. They also enable automation and digitalization of work-flows,” explained Sigurdsson.
In February 2016, Omada was positioned in the “Challengers” quadrant of the Gartner’s Magic Quadrant for Identity Governance and Administration , and in March 2016 was also rated in TOP 3 for 3 of 4 use cases for Gartner’s 2016 Critical Capabilities for Identity Governance and Administration report.
“Our position in Gartner of course strengthens our expectation that 2016 will be another propitious year. We are uniquely positioned to take market shares and we will be expanding aggressively in new and existing markets,” ended Morten Boel Sigurdsson.
Download Gartner’s 2016 report:
>>“Critical Capabilities for Identity Governance and Administration” ►<<
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Lisa Berg Rydsbo
Chief Marketing Officer, Omada
More Omada press releases
1) Gartner Inc., Magic Quadrant for Identity Governance and Administration, Brian Iverson, Perry Carpenter, Felix Gaehtgens. 29 February 2016.
2) Gartner Inc., Critical Capabilities for Identity Governance and Administration, Brian Iverson, Perry Carpenter, Felix Gaehtgens. 15 March 2016.