2 in 3 firms pay for rarely used security features

Five in every six (84%) global IT leaders want to simplify their Privileged Access Management (PAM) solutions in 2023, showing an overwhelming industry desire for systems that are easier to deploy and maintain, according to a new report from Keeper Security.

The report yielded responses from 400 IT and security executives globally. An independent research firm conducted the survey in January 2023.

As cybersecurity threats continue to grow, IT leaders are seeking effective PAM solutions that can provide visibility, security, control and reporting across every user, on every device. 

PAM adoption is widespread, with 91% of survey respondents saying their organisations use a PAM product. But the findings show traditional PAM products are failing to meet organisational needs. 

More than two-thirds of IT managers (68%) say their current PAM product is too complicated or has too many features they don’t use, and 87% of respondents would prefer a pared down form of PAM that is easier to deploy and use.

Findings also show that, on average, IT teams only use 62% of their current PAM functionality and 58% of respondents agree there is waste in their PAM solution.

Roughly two-thirds of survey respondents indicate that pricey and superfluous PAM features create too much complexity for users, reducing user satisfaction.

More than half (56%) of all IT teams report they tried to deploy a PAM solution but never implemented it. Of those, 92% said it was because their PAM solution was too complex. 

Most (85%) organisations say their PAM product requires dedicated staff to manage and maintain. 

Two-thirds of IT leaders (66%) say they need a better PAM solution, but 58% say they do not have one because it is too expensive.

“Organisations must secure their privileged credentials, accounts and sessions to protect themselves,” said Darren Guccione, CEO and co-founder of Keeper Security. 

“The industry needs modern, unified PAM solutions that address perimeterless, multi-cloud IT environments and distributed remote workforces,” said Guccione. “These solutions must provide essential functionality with zero-trust security, and at the same time, be cost-effective, easy to implement and engaging for end users.”

Further, nearly two-thirds (62%)  of IT leaders say the downturn in economic conditions will likely cause them to scale back their current PAM platform. 

Today’s IT and security leaders require a PAM solution that protects their most sensitive systems without the complexity and unnecessary features that drive up costs.

Based on the survey results, the top five benefits IT leaders seek in a PAM solution include managing and monitoring privileged user access, protecting against compromise of privileged credentials by external threat actors, preventing data breaches, protecting against accidental or deliberate misuse of privileged access by company insiders, and ensuring privileged user access is updated to prevent “privilege creep.”

Respondents also share the top five benefits of a simplified PAM solution — easier to deploy, easier to integrate into other systems, cost savings, consolidated platform, and requires less staff.