WALTHAM, Mass. – Imprivata, the leading digital identity company for mission- and life-critical industries, today announced the release of new research on how industries are approaching cybersecurity. Findings show that cybercrime is increasing significantly across the globe with 99% of respondents reporting they have been victims of cybercrime over the past 12 months, with more than half (58%) experiencing an increase in frequency of attacks. The data shows where IT leaders are reinforcing their data, what methods are most common, and areas are lagging behind.
The report surveyed more than 750 IT security leaders in healthcare, finance, manufacturing, pharmaceutical, and biotech organizations across the US, UK, Australia, and Germany. The research was administered by partner Vanson Bourne and included companies with more than 1,000 employees globally.
The survey outlines some of the major challenges that IT leaders are facing. When it comes to the costs of an attack, 38% of responses indicate cyber insurance costs as the most common negative impact post-cyberattack. Additionally, respondents reported cyber insurance premiums have risen 35% in the past year and 48% say their policy doesn’t cover real-life scenarios.
Another significant challenge is the rise of remote work, causing attack surfaces to grow exponentially. As a result, most (91%) of IT and security leaders agree that their organization can no longer rely on perimeter security. In fact, 67% of those surveyed are focusing on security beyond the firewall as one of their top three investment priorities this year.
“What we learned from this data is that businesses are under significant strain to mitigate attacks and manage the eye-watering costs when they occur – but only 55% have the recommended digital identity governance procedures in place to protect themselves,” said Wes Wright, chief technology officer at Imprivata. “When it comes to solutions, identity governance technologies play a key role in automatically enabling, modifying, and revoking access based on user role or employment status.”
Solutions like vendor privileged access management (VPAM), multifactor authentication (MFA), and single sign-on are tools that enable greater security and compliance. The fact that less than half of those surveyed have adopted these solutions may be a result of apprehension; that doing so will hinder user productivity, particularly given the sizable number who cite user-centric security as a top priority
Imprivata is the digital identity company for mission- and life-critical industries, redefining how organizations solve complex workflow, security, and compliance challenges with solutions that protect critical data and applications without workflow disruption. Its platform of interoperable identity, authentication, and access management solutions enable organizations in over 45 countries to fully manage and secure all enterprise and third-party digital identities by establishing trust between people, technology, and information. For more information, visit www.imprivata.com.
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