Has your enterprise experienced a data breach in the past two years? If so, it’s time for a wake-up call. In fact, 66% of organizations reported falling victim to a breach an average of five or more times during that time span.
The security status quo is a slippery slope. Enterprise networks have expanded beyond the well-defined boundaries that used to protect our important assets from falling into the wrong hands and a new security reality has set in. Traditional security methods can’t protect your organization from breaches, and failure to recognize this new reality leaves your business at risk of significant financial and reputational damage. In order to reduce the likelihood of breaches in this boundaryless, ever-evolving, hybrid enterprise landscape, it’s time to rethink traditional security methods. Aligning with identity and access management (IAM) best practices can help modern enterprises protect their organizations.
In the current threatscape, complacency simply doesn’t cut it. Networks continue to expand, and identities and passwords are far more likely to be affected by a breach than other records. In fact, Forrester estimates 80% of security breaches involve privileged credentials. Buck the trend and stop the breach with an aggressive rethink of security today.
Centrify commissioned Forrester Consulting to conduct a study examining the security and business benefits of IAM maturity on more than 200 enterprises. Using 15 common IAM best practices to establish a maturity scale, the report divided participants into four categories: low IAM maturity, mid-low maturity, mid-high maturity, and high maturity.
Forward-thinking enterprises are shifting their security focus from eroding perimeters to user identities — and the results are impressive. Not only did the most mature companies reduce the likelihood of breaches by more than half (5.7 vs. 12.5), they also averaged $5 million in breach cost savings and spent 40% less on IAM technology. Additionally, they generate 90% more productivity and efficiency benefits, including reduced findings from compliance audits and privileged activity transparency.
For tips and insights on how to assess your enterprise’s IAM maturity and move up the maturity ladder, check out this SlideShare or download the complete study, “Reduce the Likelihood of an Attack Through an IAM Maturity Model.”