Before looking at the position of OKTA in the Security stack, I have been wondering how the COVID related compression of the adoption curve for Digital Transformation is effecting OKTA. Todd McKinnon recently presented for Goldman Sachs. The transcript is behind a paywall at Seekimg Alpha.
Here’s just a little of what he said…
In terms of the time to migration and so forth, I think the biggest thing is people are seeing that identity can help lead that migration [in a sense] because it’s really a lot about getting the services accessible from anywhere and identity can help get that service accessible from anywhere.
It’s not just like you can take the cloud apps and a modern identity stack like Okta, and turn remote employees on immediately, you have to build our API’s into your mobile app or your website. So, we’re seeing the benefits of that, I think, play out over a longer period of time and will continue in the next year and beyond.
I had owned OKTA before and I always kinda wondered where OKTA fit among other Security Companies. I still have questions; but, I believe Bill Losch, the CFO at OKTA, recently answered this at the Needham Conference, somewhat.
Question from the interviewer: If you see something that is out of line with behavior, land analytics that you’re doing, you can then feed that into other systems, for instance, a CrowdStrike system, as a data point, or alternatively CrowdStrike can feed back to you that they’re seeing something that’s looks out of line, and those things can then be used to put a containment around a particular device or a particular user, or a particular data traffic flow. That’s the type of deep integration you’re talking about, is that a good example?
Yes, that is a good example. I think that makes sense. And you think about it that is an example that we do with numerous other technology partners. And I think that again security specifically, but certainly in other areas, we believe that there isn’t going to be one singular solution to security, but having us bring these best-of-breed solutions together and having the identity platform, which to your point, the solution has to be identity centric to make it as secure as it can be. That’s the real value we add.
It’s mostly just a repeat of known information. I just felt like I often do when re-reading something Saul has written. It’s like I read it for the first time. If anyone else here could suggest a read for my further understanding the position OKTA holds in the Security Stack I’d really appreciate it.
My take away from reading the transcripts of both of these recent conferences: Zero Trust is Identity-centric. This led me to re-start a position in OKTA and it’s now 6% of my portfolio.