SALT LAKE CITY--(BUSINESS WIRE)--Aug 30, 2018--Venafi ®, the leading provider of machine identity protection, today announced the results of "Securing The Enterprise With Machine Identity Protection, a June 2018 commissioned study conducted by Forrester Consulting on behalf of Venafi.” The study focused on enterprise machine identity protection challenges and included responses from 350 senior IT security professionals who are responsible for their organizations’ identity and access management from the U.S., U.K., Germany, France and Australia.

Key findings from the study reveal that ninety-six percent of companies believe that effective protection of machine and human identities are equally important to the long-term security and viability of their companies. However, eighty percent of respondents struggle with the delivery of important machine identity protection capabilities.

“It is shocking that so many companies don’t understand the importance of protecting their machine identities,” said Jeff Hudson, CEO of Venafi. “We spend billions of dollars protecting user names and passwords but almost nothing protecting the keys and certificates that machines use to identify and authenticate themselves. The number of machines on enterprise networks is skyrocketing and most organizations haven’t invested in the intelligence or automation necessary to protect these critical security assets. The bad guys know this, and they are targeting them because they are incredibly valuable assets across a wide range of cyber-attacks.”

Additional findings from the study include:

Nearly half (forty-seven percent) believe protecting machine identities and human identities will be equally important to their organizations over the next 12 to 24 months, while nearly as many (forty-three percent) think machine identity protection will be more important. Seventy percent admit they are tracking fewer than half of the most common types of machine identities found on their networks. When asked which specific machine identities they track: Just fifty-six percent say cloud platform instance machine identities.Only forty-nine percent say mobile device machine identities.Only forty-nine percent say physical server machine identities.Only twenty-nine percent say SSH keys.Only a quarter (twenty-five percent) say machine identities of microservices and containers. Sixty-one percent say their biggest concern regarding poor machine identity protection management is internal data theft or loss.

Managing user and machine identities and privileged access to business data and applications is an enormous undertaking that has serious security ramifications. Traditionally, the focus for identity and access management (IAM) programs has been people-centric, but recent increases in the number of machines on enterprise networks, shifts in technology and new computing capabilities have created a set of challenges that require increased focus on protecting machine identities.

From Securing The Enterprise With Machine Identity Protection, Forrester Consulting, June 2018: “Newer technologies, such as cloud and containerization, have expanded the definition of machine to include a wide range of software that emulates physical machines. Furthermore, these technologies are spawning a tidal wave of new, rapidly changing machines on enterprise networks. To effectively manage and protect machine identities, organizations need: complete visibility of all machine identities across their networks; actionable intelligence about each machine identity; and the capabilities to effectively put that intelligence into action at machine speed and at scale.”

To read the complete study, please visit: https://www.venafi.com/forrester-whitepaper.

Resources:

Web: Venafi Machine Identity Protection Research Results

Blog: Venafi Study: Do Enterprises Struggle with Machine Identities?

About Venafi

Venafi is the cybersecurity market leader in machine identity protection, securing connections and communications between machines. Venafi protects machine identity types by orchestrating cryptographic keys and digital certificates for SSL/TLS, IoT, mobile and SSH. Venafi provides global visibility of machine identities and the risks associated with them for the extended enterprise —on premises, mobile, virtual, cloud and IoT — at machine speed and scale. Venafi puts this intelligence into action with automated remediation that reduces the security and availability risks connected with weak or compromised machine identities while safeguarding the flow of information to trusted machines and preventing communication with machines that are not trusted.

With over 30 patents, Venafi delivers innovative solutions for the world's most demanding, security-conscious Global 5000 organizations, including the top five U.S. health insurers; the top five U.S. airlines; four of the top five U.S., U.K., Australian and South African banks; and four of the top five U.S. retailers. For more information, visit:  http://venafi.com.

View source version on businesswire.com:https://www.businesswire.com/news/home/20180830005047/en/

CONTACT: Venafi

Shelley Boose, 408-398-6987

shelley.boose@venafi.com

KEYWORD: UNITED STATES NORTH AMERICA UTAH

INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT NETWORKS SOFTWARE SECURITY

SOURCE: Venafi

Copyright Business Wire 2018.

PUB: 08/30/2018 08:00 AM/DISC: 08/30/2018 08:01 AM

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