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FINANCIAL TIMES USES CYBER-ARK RESEARCH IN MAJOR FEATURE
The Financial Times (19th March 2007) has run a half page story all about the recent research that Cyber-Ark has commissioned with IDC entitled "Privileged Password Management: Combating the Insider Threat and Meeting Compliance Regulations for the Enterprise" (Dec 2006, #204906). www.cyber-ark.com/idc.asp.
As specialists in Digital Vaulting technology and providers of the world's most popular Vault for securing passwords, Cyber-Ark Software has been called upon by The Financial Times to comment on how current methods for storing privileged passwords manually are failing and what the costs and implications are to businesses. The article refers their readers to the IDC/ Cyber-Ark research.
The article can be found at:
Download the article in PDF format here:
Network Security - Financial Times Uses Cyber-Ark Research In Major Feature
Udi Mokady comments "The Financial Times is the one of the most respected daily newspapers in the world, and the one that most CEO's and board directors read - it therefore is quite considerable that they have referenced Cyber-Ark and dedicated half a page to our research and value our opinions."
The article highlights the fact that the typical Fortune 500 company will spend around $500,000 a year to manually manage passwords rather than to automate them and explains that "super-accounts" are often not managed as well as individual users passwords.
Calum Macleod - European Director for Cyber-Ark says " Often administrative passwords don't get changed for years, in many cases we've found companies who haven't changed these passwords since buying the system."
The article also draws reference to other research that Cyber-Ark has recently commissioned which shows that "30% of administrative account passwords are never changed." So while the average employee follows the rules, it is easy for those who can do the real damage to ignore them with impunity.
Other research from the IDC/Cyber-Ark report shows that:
- There is a general lack of strict policies for creating and varying privileged passwords which would aid in the prevention of costly security breaches.
- Further complicating the issue is that many if not most privileged passwords are generic in nature and lack the personalization necessary for tracking and auditing purposes.
- Most organizations have more privileged user passwords than personal passwords.
- Most organizations today use the same password for many systems and devices. This creates a common security hole that can be exploited by external hackers.
- IDC estimates that it takes approximately $30 in man hours/labor to change the Sys-admin password on a single Microsoft Exchange Server.
Cyber-Ark Software is an Information Security company that develops and markets digital vaults for securing and managing privileged passwords and highly-sensitive information. Based on its patented Vaulting Technology™, Cyber-Ark's digital vault products include: The Inter-Business Vault®, a secure infrastructure for cross-enterprise data exchange of highly-sensitive information; the Sensitive Document Vault™, for secure storage and management of highly-sensitive documents, and the Enterprise Password Vault™, for the secure management of administrative, emergency and privileged user passwords. Cyber-Ark's Vaulting platform has been tested by ICSA Labs, an independent division of Cybertrust. ICSA is the security industry's central authority for research, intelligence, and certification testing of security products.
Cyber-Ark Software was founded in 1999 by a team of industry-recognized security experts with the aim of producing a truly effective security offering where complete end-to-end security was the initial, key design consideration rather than applied as an afterthought. Today, over 200 Global 1000 companies rely on Cyber-Ark Software's digital vault solutions for managing, sharing and securing highly-sensitive information both within their organization and with their partners, vendors and customers. Cyber-Ark Software is privately held and backed by some of the world's most successful venture capitalists, including Jerusalem Venture Partners, Seed Capital Partners (a SOFTBANK Affiliate), JP Morgan/Chase Partners and Vertex Management.
The company is located in Newton, Mass. and on the World Wide Web at www.cyber-ark.com
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