[AUDIO LOGO] Welcome to Miami. Welcome to the amazing Hilton hotel. And welcome to UNITE. It has been three long years since we've gotten together as a group. Post-pandemic, this is the first time we're all gathering together, and I couldn't be happier to get everybody in one room for the next three days to collaborate, to discuss all of the challenges in our industry, and to share best practices. This is indeed an awesome, awesome opportunity to drive through all of the trends, all the vision that folks have, and needs in cybersecurity and identity management.
So a little bit about me-- I think, for many of you, this is the first time meeting me. I promise I won't bore you to tears, but just a quick snapshot on my background. I got my first CEO job about 20 years ago. So I've spent a little bit of time in the C-suite, and I've had a lot of experiences-- mostly good, but then you learn from the challenges as well.
And I can say without hesitation that this role that I accepted about nine months ago is the most exciting I've ever been in my career because of the space that we're working on, the challenges that we're undertaking, and the awesome group of customers, partners, and team members here at One Identity. So I just have a quick thank you to everybody that took their time out of their days, out of their way from their jobs, time away from family, and made the commitment to come here. So give yourselves around of applause.
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All right, enough about me. Let's talk a little bit about the business. Here at One Identity, we're so proud we have over 7,000 customers we manage over 100 million identities. And philosophically, I believe growth is essential. It's the engine that drives us forward. However, I also believe that balancing growth with profitability is a central tenet of my leadership philosophy because with profitability, that's the engine of our innovation. And we can invest and overinvest in our R&D, creating innovation, creating the next generation [INAUDIBLE].
You're going to hear from various folks on the team about some of those innovations and about some of the industry leadership that we intend to drive forward. And you'll hear a few times, in my discussion and throughout the week, about our unified identity platform-- so more on that in a bit.
But don't just take my word for these commitments and this industry innovation leadership. Let's take a look at some others. I won't read through all of these, but it's a great tribute to you, our customers. Forbes-- last year, they did a listing of the global 2,000 top companies. 31 out of 50 are One Identity customers-- brimming with pride about that.
Boston Consulting Group-- last year, they did a survey of the most innovative companies. 28 out of 50 are customers of ours-- companies like Apple, Microsoft, Bank of America, JP Morgan. Blue chip enterprises have decided to entrust their Identity needs to us-- great industry leaders like yourselves. So this is something we're quite proud of.
Now, of course, this is a little bit of a look back into some of the last year's successes. But the markets, the world, the economy continues to require change. It's inevitable there's been a lot of headwinds of late. We've seen in various parts of the globe lots of inflation, lots of potential recessions, all sorts of challenges.
So we, at One Identity, we've had to change. We've had to change and evolve to keep up with the changing landscape, both of the industry and the economy. So not the least of which, one of those changes was bringing on a new CEO. And the board here wanted to position One Identity for the next 5 to 10 years of market leadership. One of the first things I did was assess our leadership team here at One Identity. The first new hire that I put in place was Darren Thompson, running all product marketing. Darren I think is in the audience today, so Darren, can you quickly stand up? So a little round of applause for Darren.
Next and equally essential, we needed to bring on a world-class head of R&D, somebody that not only understood how to deliver on-prem enterprise applications, but that had years of experience in cloud-based solutions. I hired, four months ago, a new head of global R&D named Tat Ng-- has 15 years of delivering SaaS multitenant applications while working in a hybrid environment as well. I don't know if Tat is here right now. I know he flew in early this morning, but he'll be here throughout the week-- fantastic addition to the leadership team.
Next up-- just two more additions. We needed the strongest product management lead in the industry, and we're so fortunate that we were able to bring on Jai Dargan. Jai, for five years, led all of product globally for Thycotic. Thycotic is a company that grew exponentially over the period of time that Jai was there. He's considered one of the top domain experts in all of identity management, but maybe the top in privilege access management. Jai couldn't be here today this week, unfortunately, because he had his second child two days ago, so he passes along his-- yeah--
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--passes along his hello and he can't wait to meet with each and every one of you customers.
Lastly, and I think we heard a little introduction earlier, so three weeks ago, we found a world class head of North American field operations. So Rob Morris, welcome to the team.
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I now believe that One Identity, and our leadership team, is fortified and prepared to help lead this organization to market leadership, to innovation, to help each and every one of you to achieve your objectives.
Now one last change, before I move off this slide, there's OneLogin. Just under a year ago, we acquired OneLogin. And this is an essential solution within our portfolio, and it really rounds out our capabilities. It provides us a holistic approach to all of identity management. What if we can provide real-time data, dynamic data at the point of authentication? And what if we could provide that data throughout all of our applications? Wouldn't that be a huge step forward in securing your environment?
So Darren Thompson, who I introduced just a moment ago, he's got a presentation just after lunch today on OneLogin. This is a key growth area. In fact, access management is the fastest growing aspect of identity management. So I would encourage everybody to really dial in to this piece of the presentation, because it'll be a central part of One Identity's go-to-market strategy in the days ahead.
So why do we do what we do day in, day out? The hackers, the bad guys, the bad actors-- they have a singular focus, to find the gaps, to find the ways into your organizations. A day doesn't go by a week doesn't go by without reading another headline.
T-Mobile-- a couple of months ago, 37 million accounts were exposed customers were exposed, key customer data. Now think of the reputational challenges and brand damage that creates. I probably don't need to go through all of these because every day, in your everyday jobs, day in day out, you're hearing this. And this is where the vigilance comes in. So we believe that the challenges are only getting worse. The hackers, the nation-state actors are getting more and more automated. This creates great challenges.
So the threat landscape continues to increase. Hackers are looking for the gaps. They're looking for the cracks in the window to get in. They're looking for potential privileges that have gone unattended to. We oftentimes see that those companies that go to the cloud only increases the threat landscape exponentially. And we all know what's happened during the pandemic, where everybody went virtual, and now we're all in a little bit of a hybrid environment. That also increases the threat landscape, makes your jobs-- and, frankly, our jobs-- that much more daunting and challenging.
So how do you find a needle in a haystack? We've got a couple of thoughts. When hackers get in, there's obvious impacts, obvious financial impacts, ransomware impacts, brand challenges impacts, that brand damage that takes place. There's the recovering from a long-standing breach situation.
Let me hit a few of the other ones that are a little less obvious, though. Cyber insurance-- cyber insurance costs. So who in the audience-- I've got a quick question for you-- who in the audience, within your companies, either has cyber insurance or is talking about acquiring cyber insurance? Raise your hands. OK, well, just about everybody. And who that might have cyber insurance has seen the policy rates go up over time? OK, so a lot. So we're talking to the right audience here. I think this is a key topic because it's not just the CISO. It's not just the folks in this room. Now this is on the CFO's desk and the CEO's desk.
This is a critical component. Companies are looking to make sure they've got the backdrop of protection, but there's a lot of cyber insurance challenges as well. Some companies are in a position where it's difficult to even acquire policies. What do underwriters care about? Well, this is a little bit of an eye chart. Let me focus on the top two issues because I think it's very germane to the discussions today and this whole week and how we, as your identity management partner, can help progress through this journey.
Enterprise risk and management philosophy-- cyber insurance companies, the underwriters, they're looking to get a sense for how vigilant is an enterprise? What types of philosophies and products do you put in place to ensure the security of your environment? What type of tests and audits are you conducting on an ongoing basis? How do you mitigate that risk in your enterprise?
What reduces risk in their minds? Well, of course, having some type of identity management, both philosophy and suite of solutions. Multi-factor authentication-- so I talked a moment ago about OneLogin. Table stakes for OneLogin-- obviously, now everybody knows what multifactor authentication is. It's a central component that all cyber insurance companies are looking for. They'll ask questions. Do you have a zero trust initiative? What do you do with privileges? How quickly are they cycled in and cycled out? How are you managing it? Obviously, identity security will help with all aspects of these solutions.
I really like this quote-- "Technology trust is a good thing, but control is a better one." It's actually conjures up another quote. It kind of reminds me of an old Ronald Reagan quote-- "Trust, but verify." So everybody in the room wants to provide access to your constituents, your employees, access to applications, access to information, access to documents. But you've got to have the right controls in place, got to have that verification in place.
As we talk to folks like yourselves, and all of our 7,000 customers globally, we see the complexity as another one of the central challenges that identity managers and CISOs face today. Oftentimes, local teams have a set of philosophies, perhaps, with regards to privilege and access. Corporate might have a different set. So we believe that one of the big challenges that you face on a daily basis, that I'm going to address here, is some of the contradictions within large enterprises.
Let me take you through a couple of thoughts. We speak to customers that have one set of potentially identity qualification and identity decisions and policies for their field organization and maybe a different set for corporate finance and maybe a different set for partner login portals.
Then, oftentimes, overarching corporate philosophies might not be totally in sync with those divisions or departments. And then, of course, we're all wrestling with global requirements-- GDPR, HIPPA, Sarbanes-Oxley. The list goes on. So if these aren't all in sync, there can be cracks. There can be gaps. Back to what I said earlier in the discussion, that's exactly what the cyber criminals are looking for. They're looking for the cracks. They're looking for any areas in which there may be inequity.
So I've got three different stories that I'm going to bring up that I've heard from our actual customers. And we've got a little bit of a solution for each one of them. And each one of the solutions we're going to talk about I'm going to talk about are all going to be discussed, presented, and available for demonstrations throughout the week.
Who's ever said this? You don't have to show your hands. I wish I could go back and change that entitlement. Somebody got access to something they shouldn't have inside or outside of your enterprise, and they did something nefarious with it. How do you remove and reduce those vulnerabilities? What if we could show you just-in-time provisioning-- the ability to turn on and turn off privileges if, A, there's been any misuse or, B, there's been any underuse? What if that could be more automated because today, our customers tell us it's a fairly manual process? We're going to show you ways to do this in a just-in-time fashion.
Was I supposed to know the account was logged into twice? All right, oftentimes, if this is manual as well, what if we could show you behavioral dynamics at the point of log in? Wouldn't this be great? Wouldn't this give us more tools and the ability to oversee and govern in a more automated fashion? Sure, if I had 25 folks in my company, not a problem. If I have 2,500, things get a little bit more exponentially difficult. If some of them are in the cloud and some of them are at home, it gets more and more difficult. So One Identity is looking to automate. So one of the solutions that we've launched recently-- we call it behavioral-driven governance.
Last one-- has senior management-- maybe the cyber insurance guys get asked this question-- who's watching the watchers? Who's making sure that the right governance is in place? So here, again, what if we could integrate and then automate the commissioning and decommissioning of privileged access? We call it privileged access governance, or three-letter acronym PAG. So I would encourage everybody that has experienced some of these challenges or want to make sure they avoid the experience of some of these challenges spend some time with members of the team this week.
How do we help our customers and how are we going to differentiate ourselves in the market going forward? We believe we have a very unique position in the identity management marketplace. We have what I like to call four pillars that make up our unified Identity platform. Pillar number one-- privileged access management-- our safeguard solution, world-class solution, Gartner ranking up into the right, fantastic offering, thousands of customers.
Pillar number two-- our identity management product-- also world-class, running some of the top companies on the planet, our IGA solution. Number three-- earlier, I mentioned OneLogin, our access management solution. And the fourth pillar, for those of you who are involved in Active Directory oversight, or Active Directory security solution, or ARS, Active Roles Security-- those are our four central pillars. No other identity management solution provider, to my knowledge, has all four of these.
So one more question for the audience-- who and the audience has at least one of these products? Show of hands-- of course, every hand is up because you're all customers. It's a customer event. Second question-- who has more than one? All right, so now we're down to about 15% to 20%. Herein lies one of my challenges.
Those of you who have just one of our solution sets, think about the gaps. Think about the challenges that enterprises have in integrating identity management solution vendor A with vendor B. With this platform approach, the burden is on us. We're delivering an integrated solution set. There is, frankly, more singular accountability. There's leveraging economies of scale. If I get two solutions from the same vendor, maybe three, maybe four, vendor management is happy. The CFOs tend to be happier. And the burden of integration is on us, and the accountability is on us.
So we believe this is one of our central areas of differentiation. And it's something that I encourage everybody here to give us feedback on. Are we are we going through the right messaging? Is this, in fact, the right solution? Does this resonate with you? And does this, in fact, help to secure your environments, your enterprises, and your agencies? We believe it is the next new trend within identity management. And as I said, we might not be the number one vendor in terms of market share in any one of those four pillars, but we are the only vendor that can deliver on all.
So that's why we believe we're the right partner to help you through this journey. And this is the right place to be to unite to learn more about it. But we can't do it alone. Our channel partners underpin everything that we do. We have built a world-class set of channel partners throughout the globe-- best-in-class. And I just want to say another quick round of applause for our partners, the ones that are here. Just a quick round of applause for our channel partners.
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This week tonight would not be possible without the sponsorship, the kind partnership of our partners, and frankly, our success would not be nearly where we are today without-- and I believe I can say the same for our customers-- our customers' success does require and lean on our great channel partners. So many thanks to each and every one of you. And I encourage everybody to spend some time at the various booths, as Patrick indicated a little bit earlier.
OK, I'm on the home stretch. Call to action-- I would ask all of you, if you have our safeguard [INAUDIBLE] solution and you're an expert in that area, learn a little bit about our access management or OneLogin offering. Expand the horizons a little bit. Learn a little bit about the other solution set. I can promise you this-- as you advance and integrate solutions into a platform, into identity management platform, I promise you your CFOs will be happy. I promise you will fill the gaps and make it more and more difficult for the hackers to get in. And I promise you, we'll make your jobs a little bit easier securing your enterprises. So please take advantage of all of the expertise.
So Patrick and I were talking a little bit before the sessions today-- think about the centuries of domain expertise in this room. Look around-- everybody's got 5 to 15 to 20-- in some cases 30-- years of identity management expertise. Times the 300 people in this room-- I don't know, I don't have a calculator with me, but that's a lot of expertise.
So please network, not just with us, not just with our partners, with one another because I think sharing best practices is where the magic happens. That is the best part of these customer events. We're going to be hosting a customer advisory board a little bit later this week. It's a great opportunity to offer feedback. What are the challenges you guys are being presented with? All of our ears are open. And frankly, the way that we drive innovation is listening to our customers because you're the ones in the trenches dealing with challenges on a day in, day out basis.
So we're delighted to have you here. I want to say a warm thank you to everybody, once again. I'm here the entire week. I'd like to meet all of you. I'd like to take the opportunity, if it presents itself, to come out to visit your sites and learn more about your businesses, share your ideas, share your challenges, share your vision, and we'll continue to drive the products forward. So I'm closing now.
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