CyberArk (NASDAQ: CYBR)
CyberArk has one of the industry’s largest networks of security-focused partners, with more than 1,800 partners worldwide. CyberArk’s partner ecosystem is scaling fast and delivers strategic resources that enable customers to address the growing sense of urgency around securing the rise of human and machine identities resulting from accelerated digital transformation investments.
With 79% of organisations saying they prioritised maintaining business operations over ensuring robust cybersecurity in the last 12 months, CyberArk partners have significant potential to expand their portfolio and deliver market-leading Identity Security solutions to help their customers better address critical security issues. Built for the dynamic enterprise, the CyberArk Identity Security Platform enables secure access for any identity, human or machine, from anywhere and to the widest range of resources or environments.
CyberArk is making substantial Channel Partner Program investments in strategic areas such as expanding key routes to market, investing in new ways to enhance collaboration and programme efficiency, while continuing to improve the overall partner experience. CyberArk also continues to enhance training and offer new certifications to deepen partner knowledge, which significantly expand CyberArk’s market reach and customer time to value.
Expanding Key Routes to Market
Keys to the success of the CyberArk Channel Partner Program include investing in expanded routes to market, especially via Managed Service Providers (MSPs) and global and regional marketplaces. With a 25% increase in the number of transactions with MSPs in 2021, CyberArk continues to expand technology offerings and programme features to capitalise on the surge of interest in MSP models that can help customers with limited resources close the skills gap and enable them to scale cybersecurity programmes more easily.
Additionally, CyberArk has taken advantage of its strong relationships with solution providers like blueAPACHE, Cyderes and Optiv that are increasingly diversifying their own offerings with CyberArk Identity Security SaaS solutions to both secure existing client services delivery and offer Managed Security Services to an increasingly diverse customer base.
“Over the past several years, there has been a rise of indiscriminate attacks – those that go after ‘everyone.’ MSPs like blueAPACHE are able to respond to growing demand for Identity-centric solutions with the talent and experience organisations need to proactively drive down risk,” said Michael Zuppa, general manager of technology, blueAPACHE. “We have built a successful business with the CyberArk Identity Security Platform at the core. CyberArk is easy to do business with and is critical to us being able to expand our market footprint and deliver best-in-class cybersecurity solutions, centred on Identity Security.”
CyberArk has taken strategic steps to maximise the economies of scale afforded by a growing number of marketplaces from major software vendors and other ecosystems. Marketplaces represent a large and efficient mechanism for customers to purchase and implement security software using a simple, streamlined user experience.
Additionally, global systems integrators and advisory partners represent the largest opportunity for incremental growth and are engaged in almost all of CyberArk’s key deals. CyberArk has added sales coverage and resources for enablement and marketing and is leveraging investments with alliances like Deloitte, PwC and others to deliver more to deliver more joint offerings and better services strategies.
Collaboration and Program Efficiency
Building on its strong customer-first orientation, CyberArk is applying the same user experience principles and methodologies to its partner programme. This means improving on the digital partner experience with new tools and technologies, shared workspaces and other ways to interact, market and learn from the partner community.
Advancements planned for the CyberArk partner portal will improve deal transparency and provide access to deeper data and analytics. Expanded enablement content and tools will help partners consistently deliver best-in-class solutions and will be supported using new “centres of excellence” in areas such as marketing, opportunity management and partner relationship management.
Enhancements around enablement also include specific learning plans for sales, pre-sales and technical certifications, which are designed to engage and reward partners to better support mutual customers, be more influential in their decision making and more focused on delivering services. Additionally, a newly expanded Partner Advisory Council designed to reinforce a “global approach with a regional touch” now better aligns with partners specifically committed to CyberArk’s Identity Security vision.
“With over 350 attendees at Partner Day, which kicked off the recent CyberArk Impact 2022 event, we rolled out a number of exciting initiatives to help our partners worldwide build, sustain and grow successful Identity Security programmess,” said Chris Moore, senior vice president, global channels, CyberArk. “One of the keys to that growth is enabling partners to evolve from a ‘value capture’ to ‘value creation’ approach. For those partners with the commitment and capability to drive our approach to Identity Security, we help them create more value with programmatic building blocks including enablement, incentives and marketing.”
In 2021, CyberArk increased its number of partners by 35 percent year over year. CyberArk’s partner network, which includes system integrators, managed service providers, strategic outsourcers, advisories and distributors, and marketplaces encompasses a diverse ecosystem of non-exclusive partnerships across 95 countries.
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