The Dangers of Neglecting Privileged Access: Why Most SMBs Fail to Protect Their Data

### Introduction

The recent data from S&P Market Intelligence highlights a concerning trend among small and medium-sized businesses (SMBs) when it comes to adopting privileged access management (PAM) solutions. While network, email, and endpoint security, as well as security information and event management (SIEM) tools, have deployment rates above 75%, only 43% of SMBs have implemented PAM. This discrepancy leaves these businesses vulnerable to data breaches, as most successful breaches involve compromised or stolen credentials.

### The Importance of Privileged Access Management

Privileged access management plays a critical role in protecting businesses from cyber threats. It focuses on securing accounts with elevated privileges, such as system administrators, IT managers, and executives. These accounts have access to critical systems and sensitive data, making them prime targets for attackers.

PAM solutions are designed to prevent unauthorized access and monitor privileged accounts for any unusual or suspicious activity. By implementing PAM, businesses can mitigate the risk of breaches resulting from compromised credentials and lateral movement within their networks.

### Barriers to PAM Adoption for SMBs

Historically, PAM products have been complex, expensive to deploy and maintain, and difficult to use. Additionally, they often require dedicated staff to operate, making them inaccessible for most smaller businesses. These high barriers of entry have hindered the adoption of PAM among SMBs, leaving them exposed to cyber threats.

Darren Guccione, CEO and co-founder of Keeper Security, emphasizes the widening definition of privileged users and the need for SMBs to address access rights comprehensively. As remote and hybrid work models expand the attack surface, businesses cannot afford to overlook PAM.

### The Solution: Cloud-native and Cost-effective PAM

To address the challenges faced by SMBs, cloud-native PAM solutions have emerged. These solutions offer greater flexibility, ease of use, and cost-effectiveness compared to traditional PAM offerings.

Cloud-native PAM must adapt to the evolving digital landscape, including resources like Infrastructure as a Service (IaaS), Platform as a Service (PaaS), containers, Kubernetes, serverless functions, and infrastructure as code. It should support a wide range of users, including those with access to digital intellectual property and sensitive company data.

Keeper Security’s next-generation KeeperPAM solution is specifically designed for perimeterless and multi-cloud environments. It eliminates the prohibitive costs and deployment complexities associated with traditional PAM solutions. KeeperPAM offers visibility, security, reporting, and control across organizations, ensuring protection for every user, on every device, from every location.

### Conclusion and Recommendations

The low adoption rate of PAM among SMBs puts them at considerable risk of data breaches. To bolster security, businesses should prioritize the implementation of flexible, easy-to-use, and cloud-based PAM solutions that offer a comprehensive set of Identity and Access Management (IAM) capabilities.

Furthermore, SMBs must recognize the importance of investing in cybersecurity. While budgets and resources may be limited, neglecting proper security measures can have costly consequences. Consider partnerships with trusted cybersecurity providers who offer cost-effective solutions tailored to the specific needs of SMBs.

Ultimately, it is crucial for SMBs to prioritize privileged access management and view it as an essential component of their overall cybersecurity strategy. By doing so, they can build a robust defense against cyber threats and safeguard their sensitive data and intellectual property.

References:
1. “Most Successful Breaches Involve Stolen or Compromised Credentials”, PR Newswire, July 12, 2023, link(https://www.prnewswire.com/news-releases/most-successful-breaches-involve-stolen-or-compromised-credentials-keeper-security-reports-301590380.html)
2. Keeper Security, link(https://www.keepersecurity.com/)