A new report by zero-trust and zero-knowledge cybersecurity software providers Keeper Security has found that over 80% of IT leaders (82%) want to move their on-premises Privilege Access Management (PAM) solution to the Cloud. The findings were outlined in a report entitled Keeper Security Insight Report: Cloud-Based Privileged Access Management. The report explores what IT and security leaders are seeking in a PAM solution and the benefits of moving away from traditional, on-premises platforms. Additionally, only 36% of IT leaders said that it makes sense to have an on-premises PAM solution in the current economic climate.
PAM helps protect organisations against cybersecurity threats by monitoring, detecting, and preventing unauthorised privilege access to critical resources. Yet, traditional PAM solutions are overly complex and expensive, creating barriers to adoption. According to recent research from Keeper, 56% of IT leaders tried to deploy a PAM solution but did not fully implement it, with 92% citing overly-complex solutions as the main reason.
Craig Lurey, CTO and Co-founder of Keeper Security says: “The complexity and high cost of legacy on-prem PAM solutions create challenges for today’s IT and security professionals. Yet, securing privileged access to accounts that protect sensitive systems and data is critical. The shift toward cloud-based solutions, that are easier to deploy, provides more efficient and seamless cybersecurity coverage with better security outcomes.”
As organisations continue shifting to the cloud, seeking affordable, pervasive solutions, users have become less tolerant of expensive, disparate security tools. Over half (60%) of organisations with on-premises PAM solutions say that PAM being on-prem keeps them from reaching their goals. This is due, in part, to the fact that 85% of organisations require a dedicated staff to manage and maintain their on-premises PAM solutions– an unjustifiable expense as budgets tighten.
Because on-premises solutions are both antiquated and cost-prohibitive, the shift to cloud-based PAM solutions reflects a strategic alignment with the evolving security and budgetary demands of today’s organisations. This is reflected in the fact that 82% of respondents said they would be better off moving their on-premises PAM solution to the cloud and only 36% of IT leaders say it makes sense to have an on-premises PAM solution in the current economic climate. As macroeconomic pressures may tempt businesses to cut back on security budgets, affordable and easy-to-maintain platforms are critical.
When looking for a PAM solution, respondents said that they mostly look for the ability to protect against compromise of privileged credentials by external threat actors (58%), managing and monitoring privileged user access (58%), and preventing data breaches (48%).
Recently, Keeper Security announced an integration with ServiceNow, as well as a partnership with Ingram Micro.