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Keeper Security Releases Privileged Access Management Survey Report

February 2023 by Keeper Security

Keeper Security released findings from its Privileged Access Management Survey: User Insights on Cost & Complexity. The report explores global insights from IT and security executives, revealing an overwhelming industry desire for Privileged Access Management (PAM) solutions that are easier to deploy and maintain with 84% of IT leaders saying they want to simplify their PAM solution in 2023.

As cybersecurity threats continue to grow, IT leaders are seeking effective PAM solutions that can provide visibility, security, control and reporting across every user, on every device. PAM adoption is widespread, with 91% of survey respondents saying their organizations use a PAM product. But the findings show traditional PAM products are failing to meet organizational needs. More than two-thirds of IT managers (68%) say their current PAM product is too complicated or has too many features they don’t utilize, and 87% of respondents would prefer a pared down form of PAM that is easier to deploy and use.

Findings - Overview:
• On average, IT teams only use 62% of their current PAM functionality. Fifty-eight percent of respondents agree there is waste in their PAM solution.
• Roughly two-thirds of survey respondents indicate that pricey and superfluous PAM features create too much complexity, reducing user satisfaction.
• More than half of all IT teams (56%) report they tried to deploy a PAM solution but never implemented it. Of those, 92% said it was because their PAM solution was too complex.
• Most organizations (85%) say their PAM product requires a dedicated staff to manage and maintain.
• Two-thirds of IT leaders (66%) say they need a better PAM solution, but 58% say they do not have one because it is too expensive.

"Organizations must secure their privileged credentials, accounts and sessions to protect their organization," said Darren Guccione, CEO and co-founder of Keeper Security. "The Privileged Access Management Survey: User Insights on Cost & Complexity reveals why IT and security leaders are dissatisfied with traditional PAM products. The industry needs modern, unified PAM solutions that address perimeterless, multi-cloud IT environments and distributed remote workforces. These solutions must provide essential functionality with zero-trust and zero-knowledge security, while at the same time being cost-effective, easy to implement and engaging for end users."

New operational challenges
Alarmingly, nearly two-thirds of IT leaders (62%) say the downturn in economic conditions will likely cause them to scale back their current PAM platform. Today’s IT and security leaders require a PAM solution that protects their most sensitive systems without the complexity and unnecessary features that drive up costs. The research shows their top criteria include solutions that are quick to deploy, affordable, and simple to understand and integrate.
Based on the survey results, the top five benefits IT leaders seek in a PAM solution include:
• Managing and monitoring privileged user access
• Protecting against compromise of privileged credentials by external threat actors
• Preventing data breaches
• Protecting against accidental or deliberate misuse of privileged access by company insiders
• Ensuring privileged user access is updated to prevent "privilege creep"

Respondents also share the top five benefits of a simplified PAM solution:
• Easier to deploy
• Easier to integrate into other systems
• Cost savings
• Consolidated platform
• Requires less staff

The digital landscape continues evolving beyond the average IT professional’s control. To maintain visibility and stay ahead of the next wave of cyberthreats, IT and security leaders must adapt, automate and advance with the ever-changing workplace. While PAM solutions are primarily designed to protect IT staff, executive leadership, and research and development staff, the accelerated digital transformation and current high-risk security climate make protecting all end-users within an organization increasingly essential.
The report yielded responses from 400 IT and security executives from North America and Europe. An independent research firm conducted the survey in January 2023.

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