- Achieves new milestones in 2016, approaching close to a quarter billion dollars in bookings, increasing 17-percent year-over-year and realising license growth at three times the market rate
- Marks thirteenth consecutive year of profitability and records positive bookings growth in four of the last five years
- Strong 29-percent year-over-year growth in partner-driven revenue spurs plans for new global partner program
One Identity, a proven leader in helping organisations get identity and access management (IAM) right, today announced a series of corporate milestones and record achievements, headlined by recognising nearly a quarter billion dollars in bookings during the recently concluded fiscal year. A newly focused business operating within Quest Software, One Identity’s phenomenal growth is due to the increased reliance of customers and partners on the company’s continued commitment to customer success and solution innovation.
Having recently divested from Dell, and now operating within Quest Software, One Identity has improved business agility to better achieve customer outcomes, resulting in a strong financial finish to FY17, which ended Jan 31. In its newly published Magic Quadrant for Identity Governance and Administration, Gartner positioned One Identity in the “Challengers” quadrant.
“Year after year, the One Identity team continues to sharpen its focus on customer success. We continue to earn our customers’ trust, as One Identity is the only vendor committed to delivering a complete portfolio of reliable governance, privileged management, access management and identity as a service solutions that help them get IAM right” said John Milburn, president and general manager of One Identity. “Our customers repeatedly site our modular portfolio that enables them to start anywhere without having to install a monolithic infrastructure or work with multiple vendors, our focus on their success and the business-centric nature of IAM done through One Identity.”
One Identity achieved success across several areas:
Strong Operational Growth
- In 2016, One Identity achieved license growth at three times the market rate and marked its nearly 13th consecutive year of profitability.
- Nearly 1,500 companies purchased One Identity solutions during the year, totaling over 7,500 organisations working with the company to secure their enterprises.
- The One Identity team surpassed 700 employees working out of offices in 12 countries.
Commitment to Customer Success
- Based on 846 surveys completed during 2017, One Identity customers reported “Overall Satisfaction on Support Experience” at 94-percent, and in the same timeframe, One Identity Support returned a Net Promoter Score of 75-percent, both numbers well above industry averages.
- Members of the newly created One Identity Global Customer Advisory Board met regularly to highlight emerging needs, directly influencing company product direction.
- In October 2016, more than 75 partners and customers attended the inaugural One Identity user conference in New Orleans.
Partner Program Leverages Flexibility of One Identity Solutions
- Revenue from partner-led customer wins increased 29-percent year-over-year.
- Newly focused partner program planned to launch in Q2 introduces program enhancements including new portal, simplified deal registration, certifications, incentives and product rebates.
- Global partner wins were seen across key verticals such as federal and state governments, higher education, finance and other fortune 500 enterprises.
- EMEA partner forum in November attended by more than 100 partners.
Validation for Product Innovation and Vision
- One Identity earned a strong endorsement from well-regarded industry analyst Martin Kuppinger: “The new company structure provides a greater level of independence to the One Identity business, allowing One Identity to concentrate on its target customers. One Identity has a defined and well thought-out growth strategy.”
- Forrester Research positioned the company as a Leader in the Forrester Wave™ for Identity Management and Governance.
- One Identity Introduced new product enhancements aligned to the digital transformation needs of enterprises, such as One Identity Connect for Cloud to govern identities in cloud applications.
“We spent 2016 refining the portfolio to help organisations continue to get IAM right as they move securely through their digital transformations,” said Jackson Shaw, senior director of product management at One Identity. “We believe our enterprise customers will continue down this path, and we intend to support them every step of the way, particularly as they move to the cloud. Our first step in this direction was the introduction of One Identity Connect for Cloud in 2016 that extends an organisation’s governance program to cloud applications with unparalleled speed. We will be further extending our offerings and our team with plans to add 50 developers to support both hybrid and pure-play cloud deployments in 2017.”
“When we looked at One Identity as part of the acquisition of technology from Dell, we knew we had found a true crown jewel,” said Jeff Hawn, CEO of Quest Software. “This team has made it a habit of enabling customer success. As the One Identity team starts its next fiscal year, they do so with an incredible momentum and proven track record of financial and customer success and a portfolio unequaled in the market to solve their customers’ toughest security and IAM challenges.”
Gartner Magic Quadrant for Identity Governance and Administration, Felix Gaehtgens, Perry Carpenter, Brian Iverson, Kevin Kampman, 22 February 2017.
KuppingerCole Whitepaper, One Identity Market Impact Report, October 2016
 The Forrester Wave: Identity Management and Governance, Q2 2016
UK seeks G7 consensus on digital competition after Facebook blackout
LONDON (Reuters) – Britain is seeking to build a consensus among G7 nations on how to stop large technology companies exploiting their dominance, warning that there can be no repeat of Facebook’s one-week media blackout in Australia.
Facebook’s row with the Australian government over payment for local news, although now resolved, has increased international focus on the power wielded by tech corporations.
“We will hold these companies to account and bridge the gap between what they say they do and what happens in practice,” Britain’s digital minister Oliver Dowden said on Friday.
“We will prevent these firms from exploiting their dominance to the detriment of people and the businesses that rely on them.”
Dowden said recent events had strengthened his view that digital markets did not currently function properly.
He spoke after a meeting with Facebook’s Vice-President for Global Affairs, Nick Clegg, a former British deputy prime minister.
“I put these concerns to Facebook and set out our interest in levelling the playing field to enable proper commercial relationships to be formed. We must avoid such nuclear options being taken again,” Dowden said in a statement.
Facebook said in a statement that the call had been constructive, and that it had already struck commercial deals with most major publishers in Britain.
“Nick strongly agreed with the Secretary of Stateâ€™s (Dowden’s) assertion that the governmentâ€™s general preference is for companies to enter freely into proper commercial relationships with each other,” a Facebook spokesman said.
Britain will host a meeting of G7 leaders in June.
It is seeking to build consensus there for coordinated action toward “promoting competitive, innovative digital markets while protecting the free speech and journalism that underpin our democracy and precious liberties,” Dowden said.
The G7 comprises the United States, Japan, Britain, Germany, France, Italy and Canada, but Australia has also been invited.
Britain is working on a new competition regime aimed at giving consumers more control over their data, and introducing legislation that could regulate social media platforms to prevent the spread of illegal or extremist content and bullying.
(Reporting by William James; Editing by Gareth Jones and John Stonestreet)
Britain to offer fast-track visas to bolster fintechs after Brexit
By Huw Jones
LONDON (Reuters) – Britain said on Friday it would offer a fast-track visa scheme for jobs at high-growth companies after a government-backed review warned that financial technology firms will struggle with Brexit and tougher competition for global talent.
Finance minister Rishi Sunak said that now Britain has left the European Union, it wants to make sure its immigration system helps businesses attract the best hires.
“This new fast-track scale-up stream will make it easier for fintech firms to recruit innovators and job creators, who will help them grow,” Sunak said in a statement.
Over 40% of fintech staff in Britain come from overseas, and the new visa scheme, open to migrants with job offers at high-growth firms that are scaling up, will start in March 2022.
Brexit cut fintechs’ access to the EU single market and made it far harder to employ staff from the bloc, leaving Britain less attractive for the industry.
The review published on Friday and headed by Ron Kalifa, former CEO of payments fintech Worldpay, set out a “strategy and delivery model” that also includes a new 1 billion pound ($1.39 billion) start-up fund.
“It’s about underpinning financial services and our place in the world, and bringing innovation into mainstream banking,” Kalifa told Reuters.
Britain has a 10% share of the global fintech market, generating 11 billion pounds ($15.6 billion) in revenue.
The review said Brexit, heavy investment in fintech by Australia, Canada and Singapore, and the need to be nimbler as COVID-19 accelerates digitalisation of finance, all mean the sector’s future in Britain is not assured.
It also recommends more flexible listing rules for fintechs to catch up with New York.
“We recognise the need to make the UK attractive a more attractive location for IPOs,” said Britain’s financial services minister John Glen, adding that a separate review on listings rules would be published shortly.
“Those findings, along with Ron’s report today, should provide an excellent evidence base for further reform.”
Britain pioneered “sandboxes” to allow fintechs to test products on real consumers under supervision, and the review says regulators should move to the next stage and set up “scale-boxes” to help fintechs navigate red tape to grow.
“It’s a question of knowing who to call when there’s a problem,” said Kay Swinburne, vice chair of financial services at consultants KPMG and a contributor to the review.
A UK fintech wanting to serve EU clients would have to open a hub in the bloc, an expensive undertaking for a start-up.
“Leaving the EU and access to the single market going away is a big deal, so the UK has to do something significant to make fintechs stay here,” Swinburne said.
The review seeks to join the dots on fintech policy across government departments and regulators, and marshal private sector efforts under a new Centre for Finance, Innovation and Technology (CFIT).
“There is no framework but bits of individual policies, and nowhere does it come together,” said Rachel Kent, a lawyer at Hogan Lovells and contributor to the review.
($1 = 0.7064 pounds)
(Reporting by Huw Jones; editing by Jane Merriman and John Stonestreet)
G20 to show united front on support for global economic recovery, cash for IMF
By Michael Nienaber and Andrea Shalal
BERLIN/WASHINGTON/ROME (Reuters) – The world’s financial leaders are expected on Friday to agree to continue supportive measures for the global economy and look to boost the International Monetary Fund’s resources so it can help poorer countries fight off the effects of the pandemic.
Finance ministers and central bank governors of the world’s top 20 economies, called the G20, held a video-conference on Friday. The global response to the economic havoc wreaked by the coronavirus was at top of the agenda.
In the first comments by a participating policymaker, the European Union’s economics commissioner Paolo Gentiloni said the meeting had been “good”, with consensus on the need for a common effort on global COVID vaccinations.
“Avoid premature withdrawal of supportive fiscal policy” and “progress towards agreement on digital and minimal taxation” he said in a Tweet, signalling other areas of apparent accord.
A news conference by Italy, which holds the annual G20 presidency, is scheduled for 17.15 (1615 GMT)
The meeting comes as the United States is readying $1.9 trillion in fiscal stimulus and the European Union has already put together more than 3 trillion euros ($3.63 trillion) to keep its economies going despite COVID-19 lockdowns.
But despite the large sums, problems with the global rollout of vaccines and the emergence of new variants of the coronavirus mean the future of the recovery remains uncertain.
German Finance Minister Olaf Scholz warned earlier on Friday that recovery was taking longer than expected and it was too early to roll back support.
“Contrary to what had been hoped for, we cannot speak of a full recovery yet. For us in the G20 talks, the central task remains to lead our countries through the severe crisis,” Scholz told reporters ahead of the virtual meeting.
“We must not scale back the support programmes too early and too quickly. That’s what I’m also going to campaign for among my G20 colleagues today,” he said.
Hopes for constructive discussions at the meeting are high among G20 countries because it is the first since Joe Biden, who vowed to rebuild cooperation in international bodies, became U.S. president.
While the IMF sees the U.S. economy returning to pre-crisis levels at the end of this year, it may take Europe until the middle of 2022 to reach that point.
The recovery is fragile elsewhere too – factory activity in China grew at the slowest pace in five months in January, hit by a wave of domestic coronavirus infections, and in Japan fourth quarter growth slowed from the previous quarter with new lockdowns clouding the outlook.
“The initially hoped-for V-shaped recovery is now increasingly looking rather more like a long U-shaped recovery. That is why the stabilization measures in almost all G20 states have to be maintained in order to continue supporting the economy,” a G20 official said.
But while the richest economies can afford to stimulate an economic recovery by borrowing more on the market, poorer ones would benefit from being able to tap credit lines from the IMF — the global lender of last resort.
To give itself more firepower, the Fund proposed last year to increase its war chest by $500 billion in the IMF’s own currency called the Special Drawing Rights (SDR), but the idea was blocked by then U.S. President Donald Trump.
Scholz said the change of administration in Washington on Jan. 20 improved the prospects for more IMF resources. He pointed to a letter sent by U.S. Treasury Secretary Janet Yellen to G20 colleagues on Thursday, which he described as a positive sign also for efforts to reform global tax rules.
Civil society groups, religious leaders and some Democratic lawmakers in the U.S. Congress have called for a much larger allocation of IMF resources, of $3 trillion, but sources familiar with the matter said they viewed such a large move as unlikely for now.
The G20 may also agree to extend a suspension of debt servicing for poorest countries by another six months.
($1 = 0.8254 euros)
(Reporting by Michael Nienaber in Berlin, Jan Strupczewski in Brussels and Gavin Jones in Rome; Andrea Shalal and David Lawder in Washington; Editing by Daniel Wallis, Susan Fenton and Crispian Balmer)
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