Our Sister Publication Cybersecurityasean.com has been given the privilege to attend the BeyondTrust PowerUp 2018 APAC Partner Conference held in stunning Phuket, Thailand, over the next couple of days. The event features a dynamic mix of plenary sessions, panel discussions, workshop & technical sessions, demonstrations pods and open forums, offering BeyondTrust partners the opportunity to hear from prominent industry experts and exchange best practices with fellow IT security peers from across Asia Pacific countries.
BeyondTrust’s VP of APAC & EMEA, Brent Thurrell, kicked off the event by looking back at the year 2017, which experts called the “Year of the Data Breach”. 2017, said Thurrell, saw some of the world’s largest data breaches ever seen and as a result of the aftermath, has significantly affected not just businesses and individuals, but also economies and international politics. For these reasons, the need for more effective cyber security strategies and solutions has never been greater worldwide.
Within the cyber security industry, privileged access management (PAM) and vulnerability management have definitely risen in the priority list for many businesses. Attackers are continuing to target the external vulnerabilities in the perimeter defences of an organisation to get in, use the privileges of users inside those organisations to traverse across the networks to disrupt operations, steal data, and generally cause serious damage.
What’s interesting is that this is the first time such an event was held by BeyondTrust outside of the US, truly a testament of the rapid growth and market maturity this region has seen and how important it is for the company. In fact, Thurrell mentioned during a keynote address this morning that the APAC region is the second fastest growing market for privileged access management after North America. He also pointed out the fact that industry analysts such as Gartner are predicting that the PAM market will experience a “continued rapid growth over the next 2 to 3 years” with an annual growth rate of around 32%. All good news for BeyondTrust, a company that has over the years established itself as a leader in the PAM space.
Elaborating on the growth in APAC, Thurrell said, “A lot of this growth that we see in Asia is actually not coming from countries you’d expect like China or Japan for example. A lot of it is coming from the likes of Malaysia, Philippines or Indonesia. We found that many of the major countries, like Australia or China, have been very slow to adapt and adopt their privileged access management and identity access management strategies. In more recent years, we’ve also seen a lot of legislative changes that have come through [in the region], such as MAS-TRM in Singapore, the Essential Eight in Australia and the Data Privacy Act in the Philippines. All of these things are starting to drive interest and urgency in all of these local markets. They’re also creating a lot of best practices that has been used and shared elsewhere in the world. So, we’re in a very interesting space over here right now.”
As the market continues to grow, competition is also heating up in this space. Knowing this, BeyondTrust has managed and continues to differentiate itself from the competition through two important avenues, its broad portfolio of products across many disciplines and closely-knit relationship with various international strategic, technology and channel partners. “We know we’re not the only player in the privileged access management space. But we pretty much run the whole picture across privileged access management capabilities. So that means password [management], all the way to desktop, server, and active directory bridging. Linking all of that together with vulnerability data, which is absolutely unique from us.”
Thurrell continued, “We have more technology partners than anybody else in our space. And we have out of the box integration with all of them. So whether it’s a competitive vulnerability management solution, whether it’s our cloud based partners or threat intelligence, GRC, mobile, we’ve got partners across all of these different disciplines, which I think is a huge strength for us. When we speak with CIOs and CISOs, one of the primary things that they’re looking for is a technology that can play nicely with other components within that environment. And that’s absolutely what we’re engineering ourselves to be able to do.”
If the predictions are true and if BeyondTrust play their cards right, it would certainly be interesting to see the growth that the company will achieve in APAC over the next few years. If we are invited to this event again in the future (if it does become annualized), we have a feeling it will grow year on year as more and more organisations in the APAC region begin to recognise the importance of privileged access and vulnerability management.
We are looking forward to the next few days, where we will be interviewing BeyondTrust executives and delve further into some of what makes BeyondTrust tick, from a technology and alliance standpoint. Our excitement is certainly matched and exceeded by the attendees we are speaking to who clearly see the opportunity that comes from partnering with BeyondTrust.