BeyondTrust Announces Record Growth in 2008
Increasing Demand for Industry’s Most Widely Used Least Privilege Management Product Drives Company’s Most Successful Year to Date
PORTSMOUTH, NH. – January 13, 2009 — BeyondTrust today announced that increased demand for Least Privilege Management across all industries made 2008 its most successful year to date. BeyondTrust revenues grew by 90 percent, and order volume, revenues and sales bookings all set company records. Despite a challenging global economic climate, BeyondTrust experienced particularly strong growth in the second half of 2008, when more than 50% of revenues were generated during the final four months of the year and Q4 revenues grew by 121 percent over Q4 2007.
In 2008, BeyondTrust benefited directly from increased corporate focus on compliance, data breach prevention and IT labor cost reduction, which are all addressed by adopting a Least Privilege security approach in which employees run without administrator rights. Increased interest led BeyondTrust to achieve another milestone in 2008, the signing of its 500th customer. Customers continue to choose BeyondTrust Privilege Manager because it makes it easy to enforce Least Privilege security in an enterprise Windows environment without impacting an employee’s ability to do their job.
"We had been desperately trying to institute the ‘Least Privilege’ concept across our organization, but we ran into so many problems. It started with the users not being able to change their power options, attach to hotel networks, or even run applications that need administrative rights," said Ned Cahill, Director of IT at Schnabel Engineering. "With Privilege Manager, we were able to eliminate 90% of those issues in a matter of hours. Privilege Manager has enabled us to remove administrator rights from all users across our multiple offices, virtually eliminate malware on our network and address compliance issues. It was easily the smartest thing we implemented last year."
Least Privilege boosts security by restricting people to the privileges they need to do their jobs. At many companies, the biggest security threat is people running with administrator rights. These rights can be exploited by malware and malicious users to install software, access confidential data, change security settings and disable other security solutions. BeyondTrust Privilege Manager solves this issue by enabling employees to run all required applications, processes and ActiveX controls without administrator rights.
"BeyondTrust Privilege Manager is the first and most widely used product for Least Privilege Management so it’s no surprise that as Least Privilege becomes a standard component of enterprise security, companies in many industries are increasingly turning to Privilege Manager as a best practice," said John Moyer, CEO of BeyondTrust. "Our 2008 growth numbers show that BeyondTrust continues to thrive even in the face of challenging economic conditions and demonstrate the security and cost benefits of removing administrator rights."
BeyondTrust’s strong 2008 performance was also driven by the U.S. government’s Federal Desktop Core Configuration (FDCC) mandate, which took effect in February and requires all federal employees to no longer log in with local administrator rights. BeyondTrust Privilege Manager helps federal workers comply with the FDCC mandate by enabling them to remove administrative rights and maintain standard desktop configurations while transparently allowing users to run or install authorized applications.
BeyondTrust saw increased international sales in 2008 through its rapidly expanding worldwide channel program, which grew to include more than 40 partners worldwide, with recent additions in the United States, the United Kingdom, Hong Kong, Canada, Australia, New Zealand, Germany and Brazil.
BeyondTrust Corporation, a pioneer in Least Privilege Management, enables enterprises to move beyond the need to trust users with excess privileges or administrator passwords. BeyondTrust Privilege Manager was the first product to enable the security best practice of Least Privilege in Windows environments by allowing administrators to assign end-users permissions for required or selected applications. With Privilege Manager organizations can remove administrator rights and still allow end-users to run all required Windows applications, processes and ActiveX controls. By eliminating the need to grant administrator rights to end-users, IT departments can create a more secure, compliant and standard environment. Hundreds of organizations worldwide in industries such as financial, healthcare, government and military rely on BeyondTrust Privilege Manager to secure their enterprises. For more information, please visit www.beyondtrust.com or register for a webinar at www.beyondtrust.com/events/
Dave Bowker or Tiffany Archambault
Schwartz Communications, Inc.