Navigate 2024: Horizons report exhibits identification safety investments yield disproportionately larger returns – Cyber Tech

ORLANDO — A brand new research from SailPoint reveals that organizations investing in mature identification safety practices are seeing exponentially larger returns on their investments, notably in threat discount, enterprise worth, and productiveness. The findings from the corporate’s third annual Horizons of Id Safety Maturity report, carried out in partnership with McKinsey, have been offered on the second day of Navigate, SailPoint’s annual consumer convention.

The research, which surveyed 350 safety and identification leaders globally, discovered that whereas 64% of organizations are nonetheless within the early phases of their identification safety journey (Horizons 1 and a couple of), there was important progress from two years in the past when 74% have been at these starting phases.

“Organizations that make investments to mature their identification safety follow get disproportionally larger return on their funding,” SailPoint CMO Wendy Wu defined, highlighting how corporations reaching Horizons 3 and 4 see considerably larger enterprise impression throughout a number of dimensions, together with 16% sooner velocity to market in comparison with Horizon 1 organizations.

The analysis recognized three rising tendencies shaping the business: the fast development of machine identities; the necessity for larger visibility in identification intelligence; and the rising position of AI-powered entry selections utilizing context-aware insurance policies.

A compelling case research offered throughout the keynote featured RWE, a global vitality firm that reworked its identification safety program in simply six months. The corporate leaped from Horizon 2 to Horizon 4, reaching outstanding outcomes: increasing visibility from 2,500 to 30,000 consumer accounts, unifying identification technique throughout 30 enterprise items (from a place to begin of 0), and decreasing onboarding time from 25 days to lower than three hours.

SailPoint’s personal journey to Horizon 4 was detailed by CIO Sreeveni Kancharla, who emphasised the significance of government buy-in and cross-functional alignment. Beneath her management, SailPoint achieved important enhancements, together with a 75% discount in handbook compliance critiques and a 600% enhance in productiveness by means of AI-powered certification suggestions and unified information modeling.

Kancharla suggested organizations starting their identification safety journey to deal with fundamentals: “Please ensure you’re specializing in government and explicit enterprise alignment… all the time ensure you outline the core set of functions or commonplace functions once you’re beginning on this journey, then take into consideration the way you rapidly onboard them,” she mentioned.

The research arrives at a important time, with Wu noting that cybercrime is projected to price $10 trillion globally this 12 months – equal to the world’s third-largest economic system. Nonetheless, there’s room for optimism: 83% of organizations reported that identification safety investments have helped cut back identity-related safety dangers over the previous 12 months.

The entire Horizons of Id Safety Maturity report is out there by means of SailPoint, providing detailed insights into how organizations can advance their identification safety applications and obtain comparable transformative outcomes.