ThycoticCentrify continues to deliver against growth opportunity in SA

With South African companies having accelerated their adoption of cloud technologies in 2021, ThycoticCentrify, a leading provider of cloud identity security solutions formed by the merger of privileged access management (PAM) leaders Thycotic and Centrify, has announced impressive performance of its business in the country, where it recorded significant year-on-year growth last year.

To capitalise on this market opportunity by deepening its engagement with customers and prospects in South Africa, ThycoticCentrify expanded its local team throughout 2021 with the appointment of senior executives to its enterprise sales, channel and pre-sales teams. Having effectively penetrated the mid-market segment, the company is now looking to augment its successful growth strategy in the region with a focus on large enterprises in the banking, telecoms, mining, energy and retail sectors. ThycoticCentrify’s ambition to achieve a notable increase in average project size also reflects the broader capabilities of its integrated solution platform that enables ThycoticCentrify to increase its footprint in customers’ technology stacks. The company’s ongoing engagements with leading organisations in South Africa’s finance, telecommunications and retail sectors serve as an early sign of the effectiveness of this strategy.

Commenting on the company’s momentum in the country, Mark De Simone, Regional Director – MEA at ThycoticCentrify, said: “The merger between Thycotic and Centrify has resonated strongly in the South African market, as customers recognise the unparalleled value proposition of our new, integrated product platform, which combines the strengths of both organisations into a single, unified set of software functionalities. The positive impact of this integration is reflected in the strong growth figures we have achieved this year, which we believe proves that we are better together.”

As an organisation that conducts 100% of its business in South Africa through the channel, engaging with and empowering partners is also fundamental to ThycoticCentrify’s strategy for the coming year. “We are especially interested in raising the skillsets of focused channel organisations so that they can elevate themselves to the position of service partners and grow their margins by offering high-value professional services. Simultaneously, we are looking to engage leading telecoms operators as managed security services providers (MSSPs) who can leverage our solutions to deliver powerful service offerings that address the market’s key cyber security pain points,” said De Simone.

Through 2021, ThycoticCentrify has accelerated its delivery of industry-leading PAM solutions while focusing on operational excellence and effective growth investment. In recent months, the company announced several notable product innovations and integrations. These include:

• Enhanced security and compliance capabilities for Secret Server, including a new “secret erase” feature;
• Optimised multi-factor authentication (MFA) redirection in Server Suite to increase convenience, productivity and security when using multiple administrative accounts;
• Certificate-based authentication and configurable “time-to-live” for all cloud platforms to DevOps Secrets Vault;
• Improved workflow productivity for service account governance with the latest version of Account Lifecycle Manager; and
• Reduced risks associated with over-privileged users in diverse enterprise environments with new granular access controls in Privilege Manager.

To learn more about ThycoticCentrify, visit www.thycotic.com or www.centrify.com.