Identity security is becoming more important to organizations

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Our workplaces suddenly went online due to the pandemic, giving businesses an ideal opportunity to adopt new methods of working. It has caused Identity security is becoming more important to organizations

Four out of five respondents in a new study from The Identity Defined Security Alliance (IDSA) believe identity management used to be primarily about access, but has become increasingly about security.

In particular, identity-related breaches have remained flat in the past two years, with 79 percent of organizations experiencing a breach since April 2020, as reported by the IDSA’s previous study.

As Julie Smith, executive director of the IDSA, states, “The past year forced organizations to acknowledge the importance of securing digital identities, whether it was maintaining employee productivity through secure access from anywhere, on any device, or transforming engagement with customers via secure online services.” It is crucial that CISOs take advantage of this opportunity to prioritize identity, not just for security strategies, but also for reducing risk, including Zero Trust initiatives, cost containment, increased productivity, and developing an enhanced employee and customer experience.

Key Findings of reports are below:

83% of companies cite remote work as a factor that increased identity security as a result of COVID-19. The shift to remote work has increased the focus on identity security, according to 80% of respondents. Since last year, employee confidence in securing their identities has dropped from 49% to 32%.

Despite the prevalence of breaches, investments in targeted prevention are increasing. There is no increase in identity fraud, but organizations are affected. In the last two years, 70% of organizations have begun implementing or planning identity-related security measures. Over the next two years, 97% of companies will make investments in identity-related security. By using identity-related security outcomes, 93% believe they could have prevented or minimized security breaches.

Security is taking an increasingly critical role in managing identity and access. Within the last two years, 64% of companies have improved the alignment between security and identity functions. 87% of organizations report the CISO plays a leading role when it comes to identity and access management (IAM), compared to 53% that said the same in 2019. If the CISO owns IAM, the security team is more likely to be knowledgeable about identity strategy and to implement identity-related security measures

You can read detailed report here.

Source: IDSA Report

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