Austin, Texas (PRWEB) February 4, 2009
SailPoint today announced it more than doubled its installed customer base during 2008, adding prestigious Global 1000 companies including five of the world's top 10 banks, and some of the world's largest insurance, healthcare provider, manufacturing and telecommunications companies. Coupled with a $6.5 million Series C funding, the company is poised for continued growth and international expansion in 2009.
"2008 was an incredible year for SailPoint. We delivered an award-winning product, expanded internationally and gained significant market share," said Kevin Cunningham, SailPoint's president and cofounder. "Identity governance is critical in a climate of economic turmoil and elevated corporate risk. Companies have real pain and need immediate relief. Our focus for 2009 continues to be on solving customer challenges and delivering tangible results within weeks, not years."
Customers are seeing immediate ROI from deploying SailPoint's IdentityIQ. SailPoint's customers on average have greater than 10,000 employees - many with well over 50,000 employees - and hundreds of compliance-critical applications. SailPoint currently has nearly 40 million total accounts under management, providing customers with ongoing oversight to monitor and control user access across enterprise-wide systems and applications. Major customer successes achieved in 2008 include:
- A major insurance company used SailPoint to automate a previously manual user access certification and account cleanup process, reducing the amount of time spent reviewing user access controls from several months to only four weeks. Using IdentityIQ, the company also discovered that 20 percent of its user entitlements were inappropriate, and was able to automatically revoke them using SailPoint.
- A Fortune 100 company that has recently been cited as having material deficiencies in an IT audit due to its lack of insight into what employees had access to what sensitive data turned to SailPoint to immediately address that audit deficiency and was able to reduce the overall time spent on the user access review certification process from months to a few days.
- One of the world's largest banks deployed SailPoint and within two weeks detected 167 user access policy violations which could have potentially resulted in undiscovered fraudulent behavior.
- A major bank used SailPoint to conduct an urgent analysis of the degree of control that a target acquisition bank had in place over employee access to sensitive customer information in order to assess the risk they were assuming through that potential merger activity.
- A major manufacturer used IdentityIQ's access certification and role lifecycle management capabilities to focus compliance efforts on areas of greatest concern and establish centralized control over user access that deliver real-time alerts for policy violations.
For more information about how SailPoint customers are using IdentityIQ to help their organizations to reduce the cost of compliance while reducing corporate risk, please see related release, "Allianz Life and Citizens Bank Streamline Compliance and Improve Security with SailPoint IdentityIQ."
SailPoint was also named as one of the Best Companies to Work for in Texas 2009. The award is a project of TEXAS MONTHLY, the Texas Association of Business, the Texas State Council of the Society for Human Resource Management, and the Best Companies Group. Also in 2008, SailPoint was named a Gartner Inc. "Cool Vendor" in identity and access management, a finalist for "Best Innovation in Identity Management" by Europe's Kuppinger Cole, and received Frost & Sullivan's 2008 North American Identity Management Technology Innovation of the Year award.
SailPoint Technologies, Inc. develops identity governance software that helps organizations gain control over user access to critical systems and data, streamline costly IT compliance processes and reduce the risks of fraud, corporate data loss or theft and failed audits. Founded in December 2005, SailPoint is based in Austin, Texas.
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