Modern Cybersecurity Problems Need Next-Gen PAM Solutions

The digital landscape continues evolving with no signs of slowing down. As the volume and severity of cyberattacks intensify, IT and security leaders need effective, user-friendly solutions to help secure their privileged credentials, accounts and sessions. However, while privileged credentials remain some of the highest-value targets for cybercriminals, the cybersecurity industry is falling short–failing to provide tools to meet the needs of the modern enterprise. We recently commissioned an independent research firm to survey IT and data security leaders in North America and Europe about their strategies and plans for privileged access management (PAM) in 2023. Traditional PAM solutions have a reputation for being complex, costly and difficult to manage, and the survey results confirmed precisely that.

IT Leaders Need Simpler, More Effective PAM Solutions

Respondents to the Keeper Security Insight Report on Privileged Access Management Complexity reported an overwhelming industry need for PAM solutions that are easier to deploy and maintain. A staggering 84% of IT leaders said they wanted to simplify their PAM solution in 2023.

IT and security leaders understand the need for PAM solutions to control and monitor privileged access within their organizations and stay ahead of the next wave of cyberthreats. In fact, 91% of survey respondents said their organization uses a PAM product. At the same time, however, more than half of all IT leaders (56%) reported they’ve tried to deploy a PAM solution but never fully implemented it. Of those, 92% said it was because the solution was too complex. Approximately two-thirds of survey respondents indicated that pricey and superfluous PAM features contributed to this complexity.

The stakes are too high to forego using a PAM solution, yet overly complex products prevent IT teams from experiencing the benefits–ultimately leaving their organizations vulnerable to attack. Unsurprisingly, 87% of respondents said they would prefer a pared-down form of PAM that is easier to deploy and use. Respondents shared the top five benefits of a simplified PAM solution, which included:

● Easier to deploy
● Easier to integrate into other systems
● Cost savings
● Consolidated platform
● Requires less staff, as most organizations (85%) said their current PAM product requires a dedicated team to manage and maintain

Modern PAM Solutions to Protect the Dynamic Digital Landscape

With remote and hybrid work now the norm, organizations need agile identity security solutions to protect against cybersecurity threats by monitoring, detecting and preventing unauthorized privileged access to critical resources. PAM products should provide visibility, security, control and reporting across every user on every device, especially as organizations are increasingly aware of the need to protect credentials for all users–not just for privileged users.

PAM solutions must also provide essential functionality with zero-trust and zero-knowledge security. A zero-trust and zero-knowledge security platform gives organizations total visibility and control over all employee credential practices. A zero-knowledge architecture protects user data from attackers and vendors, mitigating vendor compromise and insider threats. Zero-trust is foundational to an effective PAM solution and a strict zero-knowledge approach is vital as SaaS becomes the preferred deployment method for organizations. However, most traditional PAM solutions do not strictly adhere to zero-knowledge principles.

Maintaining Security as Budgets Tighten and Cyberthreats Grow

Because many traditional PAM solutions only protect a small portion of the user base, organizations must often purchase additional solutions to protect non-privileged users. This not only increases complexity but also drives up costs. Cost-effectiveness is critical, as nearly two-thirds of IT leaders (62%) revealed the downturn in economic conditions would likely cause them to scale back their current PAM platform. Although macroeconomic pressures tempt businesses to cut back on security as budgets tighten, it’s more important now than ever to protect against cyberattacks that could severely damage, if not destroy, a business. Investment in cybersecurity has long-term benefits, as it reduces the likelihood of a financially catastrophic cyberattack.

Keeping Pace in a High-Risk Security Climate

As IT and security leaders adapt to and advance with the ever-changing workplace, solution providers must supply tools that enable organizations to keep pace in the current high-risk security climate. Today’s IT and security leaders require a PAM solution that combines password, secrets and privileged connection management capabilities, protecting their most sensitive systems with solutions that are quick to deploy, affordable and simple to understand and integrate.

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Darren Guccione

Darren Guccione is the CEO and co-founder of Keeper Security, Inc. Prior to Keeper, Darren served as an advisor to NinthDecimal (f/k/a JiWire), the leading media and technology service provider for the Wi-Fi industry. Prior to that, Darren was the CFO and Co-founder of Apollo Solutions, Inc., which was acquired by CNET Networks (now CBS Interactive). Darren is an engineer and a CPA. He holds a Master of Science in Accountancy with Distinction from the Kellstadt School of Business at DePaul University and a Bachelors of Science in Mechanical and Industrial Engineering from the University of Illinois at Urbana-Champaign. Darren is an Evans Scholar and received the Distinguished Alumnus Award presented by The Department of Industrial & Enterprise Systems Engineering. Darren is a community board member of the Chicago Entrepreneurial Center (1871), which fosters the development of early stage companies, and an advisor to TechStars, a Chicago-based technology incubator for innovative startups. Formerly, Darren served on the Committee of Technology Infrastructure under Mayor Richard Daley. Darren has been named Cutting Edge CEO of the Year in 2019 and Publisher’s Choice Executive of the Year in 2020 by Cyber Defense Magazine’s InfoSec Awards. He is regularly featured on local and national news programs to report on cybersecurity events and topics. He serves as a panelist and keynote speaker in various technology events around the world.

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