A recent study conducted by S&P Market Intelligence has revealed that a significant number of small and medium-sized businesses (SMBs) are not adequately protecting themselves against cyber threats due to a lack of adoption of privileged access management (PAM) solutions. According to the study, only 43% of SMBs have implemented PAM, compared to higher adoption rates for other security technologies such as network, email and endpoint security, and SIEM tools, which have deployment rates above 75%.
SMBs are often targeted by cybercriminals because they tend to have less robust security measures in place compared to larger enterprises. One of the main factors contributing to the low adoption of PAM among SMBs is the perceived complexity and cost associated with traditional PAM products. These solutions have been traditionally difficult to deploy and maintain and require dedicated staff to operate, making them less accessible to smaller businesses.
Darren Guccione, CEO and co-founder of Keeper Security, a leading provider of zero-trust and zero-knowledge cybersecurity software, emphasizes the importance of PAM in the current cybersecurity landscape. With the expansion of remote and hybrid working, the attack surface has significantly increased, making privileged access management crucial for organizations. Guccione also highlights the need to broaden the definition of a ‘privileged user’ to include a wider range of employees, especially in small businesses where access rights may be more pervasive. However, the high barriers of entry associated with traditional PAM solutions have hindered SMB adoption, making them attractive targets for cyber attackers.
To address these challenges, organizations are encouraged to seek flexible, easy-to-use, cloud-based PAM solutions that are cost-effective and offer a comprehensive set of identity and access management capabilities. Cloud-native PAM solutions are adapting to the evolving cybersecurity landscape, including resources such as Infrastructure as a Service (IaaS), Platform as a Service (PaaS), containers, Kubernetes, serverless functions, infrastructure as code, and more. These solutions must support a wide range of users who have access to digital intellectual property and other sensitive company data.
One such solution is Keeper Security’s KeeperPAM, a next-generation PAM solution designed specifically for perimeterless and multi-cloud environments. Unlike traditional PAM solutions, KeeperPAM offers the necessary visibility, security, reporting, and control across the entire organization, for every user, on every device, and from every location. It aims to provide SMBs with an accessible and cost-effective PAM solution that does not require prohibitive costs or complex deployments.
The study highlights the importance of SMBs prioritizing the implementation of PAM solutions to strengthen their security posture and protect against cyber threats. By leveraging cloud-based PAM solutions like KeeperPAM, SMBs can ensure the protection of their sensitive data and mitigate the risk of unauthorized access and data breaches.
To learn more about the study and the need for PAM adoption among SMBs, you can download the full report from Keeper Security’s website.