42% Annual SaaS Revenue Growth and 42% New Customers Confirm Saviynt's Strong Momentum to Support the Company's Convergent Identity Platform Strategy
Saviynt Leading provider of intelligent identity and access governance solutions, achieved record annual revenue in 2021, driven by customer adoption of the industry's only Convergent Identity Platform (CIP) composed of cloud-native identity governance solutions (IGA) and Privileged Access Management (PAM). Enterprises embarking on Zero Trust Security journeys have turned to Saviynt's Enterprise Identity Cloud (EIC) to lower costs, reduce complexity, and simplify Identity and Access Management (IAM) activities.
Product innovations drive customer growth, retention and success
Last November, Saviynt He released the Enterprise Identity Cloud (EIC) 2021 solution, a release that ensures savings on implementation and integration costs compared to traditional IGA and PAM products, thanks to innovations such as auto-discovery of unmanaged apps and users, shared workflows on identity, faster decision-making through the use of risk parameters and recommendations generated by proprietary analytics engines. Saviynt then envisaged multiple improvements for users, providing manageable identity services through tools such as the certified app ServiceNow, the Microsoft Teams app, and an improved desktop agent for secure desktop access.
Saviynt's EIC solutions, including the new range Application Access Governance (AAG) e Third-Party Access Governance (TPAG), delivered 42% annual growth in SaaS revenue, driven primarily by the 138% increase in solution Cloud PAM which secures sensitive and privileged access between cloud workloads and SaaS applications using a zero standing privilege (ZSP) approach.
Continuous product innovation and Saviynt's outlined 'Customer-First' strategy resulted in a 97% customer retention rate with a 42% increase among Fortune 1000 and Global 2000 customers who chose the platform convergence of identities to increase their level of security.
“To meet business and security goals, we needed an identity solution that was effective and simple to manage,” he said. Kumar KV, CISO of Narayana Health. “Saviynt helped us secure access to the application infrastructure and lay the foundations for the next steps in terms of identity and security. The EIC platform has kept its promises, confirming a rapid 'time to value' in the path towards a better posture of control and security with a quality user experience".
Key partnerships have also played a key role in the company's revenue growth. Saviynt announced strategic alliance and managed services program with Deloitte, a leading provider of cyber risk prevention services, to provide complete digital identity solutions.
“Saviynt has had an amazing 2021, but we still have a long way to go,” he said Amit Saha, CEO of Saviint. “As we enter 2022, we are increasingly committed to helping our customers transform identities in their most critical areas by implementing the Zero Trust model, securing multi-cloud environments, and enhancing third-party access governance.”
Increased global demand fuels business growth
Continued demand for innovative cloud identity solutions has prompted Saviynt to significantly expand its internal staff, increasing employee headcount by 56% in the past twelve months alone – with teams in the EMEA and APAC regions growing by more than 100% . Saviynt's global headcount surpassed 850 in 2021.
Saviynt receives industry acclaim for leadership on innovation and growth
In addition to this significant revenue growth, Saviynt received the highest score on the 2021 Gartner® IGA Solution Scorecard and was recognized as Gartner® Peer Insights Customers’ Choice 2021.
KuppingerCole named the company a global leader in Privileged Access Management (PAM) in its own report Leadership Compass 2021, and as a global leader in access control for SAP and other applications in the report Leadership Compass 2022.
In 2021, Saviynt was ranked on Inc. Magazine's list of the fastest growing private companies in America, ranking at number 1,585 with an increase of 295% and as one of the enterprises classified in the Deloitte Technology Fast 500. These accolades are an immediate result of the company's growth rate in annual revenue.
For more information on Saviynt, see www.saviynt.com.
