Osirium Technologies' (LON:OSIO) software protects critical IT infrastructure from the unauthorised use of privileged IT accounts, bringing an innovative approach to the privileged access management (PAM) software market. Having established its credentials in the enterprise market, it is now seeking to expand into the mid-market where the simplicity of its technology makes it attractive. Bookings growth, new channel partners and new customers signed up will be the key metrics to track in the short to medium term.
Securing the keys to the IT kingdom
Osirium designs software to secure privileged accounts; these are the accounts with enhanced access used by IT system administrators and developers and are a key target for hackers as they grant access to a higher volume of data and users. Securing the perimeter is no longer enough; with increasing cloud adoption the IT perimeter is becoming blurred, and companies are also at risk from internal threats. Combined with increased regulatory pressure, these factors are driving strong growth in the PAM software market. Gartner forecasts a CAGR of 27% from 2015-20 to reach a market size of $2.2bn. Osirium’s PxM platform has four software modules designed to manage account access, automate commonly performed tasks, record active sessions and monitor behaviour. Innovative concepts such as the virtual airgap (which keeps passwords out of users’ hands) and task automation (which delegates actions rather than privilege) offer an alternative to established PAM vendors’ solutions.
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