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SailPoint Technologies will make it simpler for enterprise IT teams to manage workflows that revolve around identities later this year. During its Navigate 2021: Confidence Redefined conference, the company — which provides tools for securing identities — unveiled SailPoint Workflows, a visual tool for creating and managing workflows via the company’s software-as-a-service (SaaS) platform.
SailPoint Workflows provides IT teams with a no-code tool that enables them to create custom workflows to, for example, onboard new employees, SailPoint executive VP Grady Summers told VentureBeat. Enterprises need a no-code approach to creating those workflows because few IT professionals have both identity management expertise and programming skills. “That’s very rare air,” Summers said.
Scheduled to become available in the fourth quarter, SailPoint Workflow is part of a larger company initiative to enable enterprise IT teams to deploy an intelligent, autonomous, and extensible self-driving identity security system that’s fueled by data from end users. Machine learning algorithms are then applied to surface, for example, who is using which applications or what anomalous behavior might be indicative of a security breach, Summers added.
SailPoint earlier this year acquired Intello, a provider of tools that enable IT teams to discover, manage, and secure SaaS applications, and ERP Maestor, which offers governance, risk, and compliance (GRC) management tools for SaaS applications.
In its most recent quarter, SailPoint reported total revenue of $102.5 million, an 11% increase over the same quarter a year ago. Subscription revenue was $64.4 million, a 40% increase over the same period a year ago, while SaaS revenue accounted for $25.4 million, a 66% increase over the second quarter of 2020. But the company also reported a loss of $17 million compared to a profit of $8 million a year ago. Non-GAAP income from operations was $0.8 million compared to $18.4 million in Q2 2020.
For the third quarter, the company is forecasting revenues will reach between $102 million and $104 million. Non-GAAP losses from operations are expected to be in the range of $7 million to $9 million. Non-GAAP losses from operations are expected to range from $5 million to $10 million. SailPoint expects revenues in the range of $408 million to $412 million for the full year.
Cam McMartin, a member of the board and special advisor to CEO Mark McClain, is expected to become interim chief financial officer for SailPoint beginning September 1. Meanwhile, current CFO Jason Ream tendered his resignation, effective August 31, 2021, to pursue other interests.
As identity management becomes the focal point around which zero trust approaches to securing IT environments gain traction, it has become apparent that many of the tools used to manage GRC and security are starting to converge. That shift comes as more organizations are shifting to SaaS platforms to manage both GRC and security.
It’s not clear to what degree GRC and security tools will ultimately converge, but as they move closer together, the total cost of implementing and maintaining a zero trust IT environment should decline. In the meantime, most enterprise IT organizations are at the very least reevaluating their approach to managing and securing IT in the wake of a series of high-profile security breaches.
With the shift to working from home to combat the spread of the pandemic, it’s become more apparent that the network perimeter has dissolved. IT teams cannot assume systems reside securely behind a firewall. As such, the only way to now secure what has become a highly distributed computing environment is to verify the identity of not just every user, but also the machines and applications employed within enterprise IT environments.
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Confessions of an in-house creative strategist on feeling unfulfilled, difficulty in returning to agencies as the ‘pay is less’
The war for talent between agencies and brands’ in-house agencies has cooled. Even so, for adland talent who’ve made the move in-house, some say they are looking to go back to agencies after feeling creatively stifled. It’s not the easiest strategy to execute.
In the latest edition of our Confessions series, in which we trade anonymity for candor, we hear from an in-house creative strategist about their experience, why they want to go agency-side now and how pay is keeping them from doing so.
This conversation has been lightly edited and condensed for clarity.
What’s the in-house experience like?
I’ve been in-house for about a year. It’s very one-sided. The difference between agency and in-house is that with agencies, there [are] a lot of opinions and ideas [outside of the brand message] that go into creative. With in-house, you have the brand’s message and all creative is reflective of the brand’s message. With in-house, regardless of trends in the market, it’s a lot of ‘we’re going to stick to this one way of doing things’ mentality. It’s a lot of opinions about what the creative should be based on what it has been before. It makes it hard to introduce something fresh. It makes it hard to hire or be a new hire. If you’re not actually going to adhere to advice from new hires, what’s the point in getting new people? Are you just bringing people on board for a second opinion? That’s what it feels like.
Sounds like you don’t have the creative control you desire.
It feels like more of a second opinion role than to get something to manage or control. [Where I am now] it feels like we’re leaning more into what [our strategy] used to be than thinking about what we could be. That’s a big issue with in-house. With agencies, like I said, there’s a lot more trial and error. With in-house, a lot more of this is what we’re doing, these are the funds we have and this is what has worked in the past. In reality, a lot of what worked in the past, when you put it back into the market, it’s not going to work anymore.
Why do you think it’s more challenging to get to a new creative strategy in-house?
With agencies, you have multiple perspectives. You’re working on multiple brands. You can see something working for another brand and talk to your client about it. You can pivot. You have the background and perspective to [pitch that pivot]. When you’re in-house, you only have the knowledge of your brand and what’s working for you.
Are you looking to go back to agencies?
Personally, I am looking to go from in-house to agency but I get paid a lot more being in-house than what I’ve been offered at agencies. I’ve been in interviews with agencies where they’re telling me that I’ll be learning [programs I already know how to use] so that’s why the pay is less than what it should be. There are agencies I’ve interviewed with who ask me to move to New York for less than what I make now and make that work. [With inflation,] there’s no reason why salaries aren’t also increasing.
So you’d like to make the jump creatively but it’s hard when the compensation isn’t up to what in-house offers?
It’s hard. I’ve been lowballed, too. They’ll post a salary for a position, go through the interviews and then offer less than what’s listed on the salary description. What was the point of putting the salary range there? I feel like people are putting salary ranges on job descriptions just to attract people with the experience that they are looking for but by the time they make the offer, it’s not what they said it would be. It’s offensive.
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