A leading provider of zero-trust and zero-knowledge solutions for protecting credentials, privileged access and remote connections, releases the results of the Keeper Security Insight Report “Cloud-based Privileged Access Management (PAM)”.
The report examines what IT and security leaders want from a PAM solution and the benefits of moving away from on-premise installations. 82 percent of respondents said they would be better off moving their PAM solution from on-premises to the cloud. Only 36 percent of IT leaders said an on-premise PAM solution makes sense given the current economic climate.
PAM is essential
PAM solutions provide extensive control over the activities of privileged users - protecting against unauthorized network access and mitigating insider threats. However, traditional PAM solutions are extremely complex and expensive, making adoption difficult. According to a recent study by Keeper, 56 percent of IT managers have tried to implement a PAM solution but have not completed the implementation. 92 percent of those surveyed cited excessive complexity as the main reason.
“The complexity and high cost of traditional on-premise PAM solutions pose significant challenges for IT and security professionals,” said Craig Lurey, CTO and co-founder of Keeper Security. “However, securing privileged access to accounts that protect sensitive systems and data is critical. Moving to cloud-based solutions that are easier to implement provides more efficient and seamless cybersecurity coverage, with better security outcomes.”
Cloud-based solutions for PAM
As enterprise applications increasingly move to the cloud and the search for affordable, comprehensive solutions, users' tolerance for expensive, inconsistent security tools is decreasing. More than half (60 percent) of companies with on-premises PAM solutions confirm that they cannot achieve their goals. This is partly because 85 percent of companies require dedicated staff to manage and maintain their on-premises PAM solutions - an unreasonable expense given tightening budgets.
On-premises solutions are both outdated and costly. The move to cloud-based PAM solutions, however, represents a strategic alignment with the evolving security and budget requirements of today's companies. This is reflected in the fact that 82 percent of respondents said they would be better off moving their on-premises PAM solution to the cloud; Only 36 percent of IT managers believe that an on-premises PAM solution makes sense, citing the current economic climate. As macroeconomic pressures could tempt companies to slash their security budgets, affordable and easy-to-maintain platforms are critical.
Ease of use and increased security
With digital transformation and increasing cybersecurity threats, the need for robust PAM solutions is increasing. Moving PAM to the cloud provides a higher level of security through advanced encryption, multi-factor authentication (MFA), and continuous monitoring. The top three benefits respondents hope to gain from a PAM solution are: protecting against compromise of privileged credentials by external threat actors (58 percent), managing and monitoring privileged user access (58 percent), and preventing data breaches (48 percent). ).
In addition: updating privileged user access and preventing “creeping privilege” (46 percent), protecting against accidental or intentional abuse of privileged access by company insiders (47 percent), increasing visibility and awareness (43 percent), preventing phishing attacks (35 percent).
Cloud service providers invest heavily in securing their infrastructure to ensure a protected environment. Therefore, companies should look for solutions based on a zero trust and zero knowledge architecture to ensure the highest levels of security, privacy and control over their data. By deploying cloud-based PAM solutions, organizations can strengthen their defenses at a time when managing privileged access is essential.
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About Keeper Security Keeper Security is changing the way people and organizations around the world protect their passwords, secrets and sensitive information. Keeper's easy-to-use cybersecurity platform is built on the foundation of zero-trust, zero-knowledge security to protect every user and every device.