SailPoint Technologies Holdings, Inc., the leader in enterprise identity security, today released the findings of a new research report titled “The Horizons of Identity;. With hyper innovation and rapidly changing technologies driving global organizations, mature identity programs are becoming essential to secure and enable digital capabilities at scale. The survey data, based on observations from more than 300 global cybersecurity leaders, reveals the current state of the identity security industry and assesses the maturity of enterprise identity programs.
Investing in identity security is no longer optional and the cost of inaction is rising. 79% of companies have experienced a breach of their identities (source: IDSA), with 99% of them believing that these incidents could have been avoided. Besides the cost of the violation itself, new regulations can impose costly fines. While maintaining compliance isn’t always a negligible cost, non-compliance can be much more costly – the GDPR, for example, provides for fines of up to 4% of global revenue for non-compliance.
Growing breadth and complexity of the landscape in terms of identities
The growing number of identities that interact in increasingly complex ways underscores the need for a strong identity program. Identities go far beyond user credentials – today’s businesses need to secure the identities of systems, customers, employees, contract and temporary stakeholders, partners, and more. . According to the report, machine identities account for 43% of all identities for the average business, followed by customers (31%) and employees (16%). It’s no coincidence that machine identities and client identities are the two types of identities expected to grow the fastest over the next 3-5 years. It should be noted that the total number of identities is expected to increase by 14% during this same period.
Corporate Identity Security Footprint
“The truth is that almost every business understands that identity security is a challenge, but many don’t know where to start,” said Matt Mills, President of Worldwide Field Operations at SailPoint. “We hope that by establishing a maturity model that vendors and consumers can refer to, we can create a common ground on which companies can reach full maturity faster, and without the growing pains that many endure. looking for answers. Our report shows that 45% of companies are still at the beginning of their identity journey. This means they have the unique opportunity to leverage today’s technology to build a comprehensive, AI-powered approach to managing their identities from the start. As business needs for identities outstrip human capabilities, this approach has quickly become a big challenge. Additionally, identity security has become an essential part of securing businesses. »
Not surprisingly, according to the report, tech companies tend to have the highest level of identity security maturity, followed by financial services. On the other hand, the media and transport have the greatest room for improvement. Among the companies with the highest maturity in identity security, 71% are large enterprises and 64% are located in North America, compared to 21% in Europe and 14% in the Asia-Pacific region.
Opportunity of AI/ML features
As digital identity environments have become more complex, the advent of artificial intelligence (AI) and machine learning (ML) has contributed to the maturity of identity management. More than 50% of respondents indicate that they have already implemented AI/ML models to enhance their skills, or plan to do so within the next two years. Yet 21% of them say they are confident in their current AI capabilities, which shows that they still have room. Additionally, the value of an integrated identity model to reduce the overall attack surface is better understood, with 50% of survey respondents indicating that they want an identity-centric security platform, where the Identity is tied to cover machine, cloud, SaaS and API, making it the platform of choice.
Correlation between maturity and return on investment
One of the most interesting findings of the report is that as organizations increase their identity security maturity level, they become more efficient in using their security tools. Among companies in the early stages of maturity, more than a quarter say they allocate more than 15% of their cybersecurity budget to identity. Conversely, 71% of more mature companies say they spend a lower share of their budget, but get more profit. This means that 28% of less mature organizations overspend without fully realizing the benefits of their security. This underscores the need for organizations to view identity security as an ongoing program rather than a solution that will be “complete” at some point. Identity security must evolve with the business.
The Horizons of Identity report highlights the growing need for a strong identity agenda and how identity can serve as a driver of innovation. It describes the five stages that companies go through as they adopt and evolve their approach to this over time.
The information in this report is based on a survey conducted in June 2022 of nearly 350 cybersecurity leaders in North America, Latin America, Asia and Europe, supplemented by interviews with experts with extensive experience. identity management.
The ability to manage and secure identities today has far exceeded human capabilities. SailPoint, the leader in identity governance, provides an innovative approach to enterprise identity and access security. Using artificial intelligence and machine learning, SailPoint’s identity security platform always provides the right level of access. Today’s businesses, even cloud-centric, can ensure everyone has the exact access they need, at the right time. SailPoint’s intelligent, standalone, and integrated solutions put identity security at the heart of online business operations. SailPoint enables the most complex organizations to establish a security foundation capable of defending themselves against today’s most pressing threats, anywhere in the world.
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SailPoint Unveils “The Horizons of Identity” Research Report Examining the Maturity of Enterprise Identity Programs
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