STOCKHOLM – Oct. 31, 2023

Versasec Appoints CSO in its Commitment to Service and Excellence

Versasec, a prominent player within the domain of identity and access management on a global scale, announced today the promotion of Paul Foley to Chief Service Officer. The company’s focus has shifted from being a software vendor to a Software-as-a-Service (SaaS) provider.

Under the guidance of Paul Foley as the Chief Service Officer (CSO), Versasec is primed to elevate its customer-centric approach by delivering services that offer customers fast and secure identity and access management solutions. Paul Foley’s visionary leadership, coupled with Versasec’s unwavering commitment to customer satisfaction, underscores our mission to provide easy-to-use and seamlessly deployable systems.

“Paul has been a fundamental piece in building Versasec. He has the natural ability to prioritize the most important tasks, often working with customers but also improving the product,” said Joakim Thorén, CEO and founder of Versasec. “I am delighted that we are promoting Paul to CSO.”

“For my team, our top priority is to truly hear our customers, understand the reasons behind their concerns, and swiftly assist them in finding solutions. We recognize that every customer is unique, with their own set of challenges. That’s why we’ve crafted our professional services and products to cater to these individual needs,” shared Paul.

The average age for current ongoing Versasec customer contracts is just under five years (57.9 months), and the calculated lifespan (calculated from average attrition) is over eight years (99.5 months). The data explains the recurring revenue growth that Versasec reports, reflecting its successful customer retention efforts that surpass industry standards and underscore the team’s exceptional performance under Paul’s leadership.

In his new role, Paul will lead the expansion of Versasec’s Support and Services, bringing his proven track record of enhancing customer satisfaction and introducing innovative products. His customer-centric approach will drive the introduction of new services, ensuring Versasec remains a pioneer in the industry. Paul’s leadership promises an exciting era of innovation and unwavering dedication to our valued customers.

About Versasec

The Versasec award-winning software is used by companies of all sizes to fulfill their ever-evolving cybersecurity strategies. Versasec provides the necessary orchestration to automate and manage the multiple Identity and Access Management (IAM) system, providing organizations a secure hub for their IAM solution providers: certificate authorities, user directories, HSM’s, credentials, and more. Versasec credential management system, vSEC:CMS, is available on-prem, and as a managed service through vSEC:CLOUD with premium support. Versasec supports the most number of credentials in the market, covering the latest modern authenticators and technologies such as PIV/PKI, FIDO, virtual, and physical credentials, as well as RFID for secure access control. Trusted by organizations and corporations worldwide, Versasec serves the public and private sectors in government, defense, manufacturing, healthcare, financial services, and more. Versasec is headquartered in Stockholm, Sweden.


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