CyberArk Survey: Majority of Enterprises Fear Disruption to Business Critical Applications, Yet Don’t Prioritize Securing T...
March 26 2019 - 8:30AM
Business Wire
According to a new CyberArk (NASDAQ: CYBR) survey, the
majority of organizations (nearly 70 percent) do not prioritize the
protection of the applications that their business depend on – such
as ERP and CRM systems – any differently than how low-value data,
applications or services are secured.
The independent survey was conducted among 1,450 business and IT
decision makers, primarily from Western European economies.
Respondents indicated that even the slightest downtime affecting
business critical applications would be massively disruptive, with
61 percent agreeing that the impact would be severe.
Breaches affecting applications that are the lifeblood of
business can result in punitive costs, with a 2018 report
estimating the average cost of an attack on an ERP system at $5.5
million USD.1 The threat actors that enterprises face are
formidable – organized crime was behind 50 percent of all breaches
in 2018, with attacks using established tactics like privileges
abuse to achieve their aims.2
Despite the fact that more than half (56 percent) of
organizations have experienced data loss, integrity issues or
service disruptions affecting business critical applications in the
previous two years, the survey found a large majority (72 percent)
of respondents are confident that their organization can
effectively stop all data security attacks or breaches at the
perimeter. This brings to light a remarkable disconnect between
where security strategy is focused and the business value of what
is most important to the organization. An attacker targeting
administrative privileges for these applications could cause
significant disruption and could even halt business operations.
The survey also found that 74 percent of organizations indicated
they have moved (or will move within two years) business critical
applications to the cloud. A risk-prioritized approach to
protecting these assets is necessary for this transition to be
managed successfully. Further industry data shows that, globally,
69 percent of organizations are migrating data for popular ERP
applications to the cloud.3
“From banking systems and R&D to customer service and supply
chain, all businesses in all verticals run on critical
applications. Accessing and disrupting these applications is a
primary target for attackers due to their day-to-day operational
importance and the wealth of information that resides in them –
whether they are on-premises or in the cloud,” said David Higgins,
EMEA technical director at CyberArk. “CISOs must take a
prioritized, risk-based approach that applies the most rigorous
protection to these applications, securing in particular privileged
access to them and assuring that, regardless of what attacks
penetrate the perimeter, they continue to run uncompromised.”
About the SurveyThe CyberArk-sponsored survey was
conducted by Arlington Research amongst 1,450 business and IT
decision makers in eight countries in Europe, the Middle East and
Africa: the UK, France, Germany, Italy, Spain, Switzerland,
Netherlands and Israel.
Additional Resources
- [Interactive Infographic] Business
Critical Applications
- [eBook] The Age of Digital
Transformation – 5 Keys To Securing Your Business Critical
Applications
1 – Industry-Focused Data Breach Report 2018 –
ERPScan2 – 2018 Verizon Data Breach Investigations
Report (DBIR)3 – Enterprise Resource Planning (ERP)
Applications and Cloud Adoption 2019
About CyberArkCyberArk (NASDAQ: CYBR) is the
global leader in privileged access security, a critical layer of IT
security to protect data, infrastructure and assets across the
enterprise, in the cloud and throughout the DevOps pipeline.
CyberArk delivers the industry’s most complete solution to reduce
risk created by privileged credentials and secrets. The
company is trusted by the world’s leading organizations, including
more than 50 percent of the Fortune 500, to protect against
external attackers and malicious insiders. A global company,
CyberArk is headquartered in Petach Tikva, Israel, with U.S.
headquarters located in Newton, Mass. The company also has offices
throughout the Americas, EMEA, Asia Pacific and Japan. To learn
more about CyberArk, visit www.cyberark.com, read
the CyberArk blogs or follow on Twitter
via @CyberArk, LinkedIn or Facebook.
Copyright © 2019 CyberArk Software. All Rights
Reserved. All other brand names, product names, or trademarks
belong to their respective holders.
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Media Relations Contacts:Brian Merrill, fama PRPhone:
+1-617-986-5005Email: cyberark@famapr.com
Liz Campbell, CyberArkPhone: +1-617-558-2191Email:
press@cyberark.com
Investor Relations Contact:Erica Smith, CyberArkPhone: +1
617-630-6426Email: ir@cyberark.com
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