Abacus Group secures privileged access for alternative investment clients with Thycotic Secret Server

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Abacus Group, a leading managed service provider of hosted IT solutions for alternative investment firms has expanded and customized its use of Secret Server for more than 350 clients to date.

Managing up to 3,000 passwords for privileged access daily “would be impossible without an automated solution such as Secret Server,” stated Paul Ponzeka, Managing Director of Engineering at Abacus.

Thycotic Secret Server software enables enterprises to discover, store, secure and manage privileged account passwords while streamlining the management process. As Abacus Group accelerated its growth adding more and more clients, Secret Server proved its value in scalability, flexibility and adaptability.

“We initially started with the Secret Server free edition on a trial basis that lasted about a week,” Ponzeka explained. “We found it easy to deploy and very straightforward to use without requiring any training on our part. Credentialing that previously would take a week or more with manual processes involving a full-time staff person, can now be done with Secret Server in about 10 minutes.”

“We are pleased that in the expanding managed services marketplace, Abacus Group has chosen to grow with Thycotic Secret Server as a trusted partner in securing and streamlining its privileged access management,” said James Legg, President and CEO at Thycotic. “The ability to manage multiple clients across highly diverse IT environments makes Secret Server an optimal choice for Privileged Access Management among managed service providers.”

According to Ponzeka, savings in helping to provision users could easily save the company two engineering positions in time that can then be devoted to more important tasks. Using Secret Server to manage credentials has made Abacus Group’s IT help desk operations more efficient, in many cases allowing Level 3 tasks to be accomplished by Level 1 personnel.

“Almost every employee now uses Secret Server,” Ponzeka concluded. “It has gone from being an engineering team tool to a business tool that helps secure and drive our whole business. We wouldn’t be as successful as we are today without the benefits of the Secret Server solution.”

Interested in streamling your Privileged Access Management strategy? Start your free trial.

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About Thycotic
Thycotic’s award-winning Privileged Account Management solutions minimize privileged credential risk, limit user privileges and control applications on endpoints and servers. Thycotic is one of the world’s fastest growing IT security companies because we provide customers with the freedom to choose cloud or on premise software solutions that are the easiest to implement and use in the industry. Thycotic solutions are the highest rated PAM tools by your Gartner peers, and trusted by over 10,000 users worldwide including 25% of Forbes Top 50 Companies, and 20% of the Fortune 500.

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