"Enterprises Waste Money on Identity Tools They Don't Use"

According to One Identity, misguided company investments in numerous identity tools are insufficient in defending against the current threat landscape. Ninety-six percent of businesses use several identity management technologies, with 41 percent using at least 25 systems to control access permissions. However, 70 percent of companies reported paying for identification technologies that they are not actively utilizing. This investment in various identity tools has a direct effect on their security posture. Multiple identity products have been adopted by businesses to manage the influx of digital identities or digital profiles gaining access to organizational data and apps, resulting in identity sprawl that weakens their cybersecurity postures. Fifty-two percent of companies manage more than 10,000 identities, including access privileges granted to employees, devices, machines, and consumers. It is essential to strengthen identity-based protections. In the past year, identity-based attacks affected 9 out of 10 firms, with nearly 70 percent of businesses reporting phishing attacks. According to 80 percent of respondents, more effective identity management systems may have mitigated the effects of many of these attacks. Almost all businesses (99 percent) report that inefficient identity tools have a direct impact on their bottom line. Forty-two percent of companies report that these inefficiencies cost them over $100,000 annually. Multiple identity management systems have a negative effect on security posture and productivity. This article continues to discuss key findings from One Identity regarding companies' identity management.

Help Net Security reports "Enterprises Waste Money on Identity Tools They Don't Use"