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It’s industry-leading Octopus platform offers mid-market to Fortune 100 enterprises the ability to move to a higher security, frictionless and unified authentication platform for MFA and passwordless authentication. Secret Double Octopus is the global leader in next generation workforce authentication solutions. Additionally, Secret Double Octopus will host a webinar with Dr Larry Ponemon to discuss the findings of the report and the implications for the market at large on November 11th at 10AM PST.
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The State of Workforce Passwordless Authentication 2021 report, with its full insights, can be downloaded here. Lack of support can be an inhibitor to adoptions with 56% of respondents indicating that they would not move to passwordless due to the lack of legacy systems and application support. Look for vendors with broad coverage of use cases across the enterprise where a user no longer must remember a password.
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Insecure connections to the network domain figures as the 2nd most concerning risk area due to remote work, signaling the importance of eliminating the password for the desktop given it usually replicates the network domain password. Passwordless generally involves the use of biometrics for authentication that is generally regarded as a way to elevate trust and assure identity.ĭeploy desktop MFA. Roughly 40% of respondents who have not adopted passwordless felt passwordless was not as secure as other two-factor authentication or traditional MFA methods. To reach the goals of better security and increased productivity, organizations must:Įliminate misconceptions around passwordless and better understand the cost and security implications of the technology. "But the data clearly show there is an enormous amount of lost productivity per employee and financial risk by not removing the link between the password and the employee." "Many organizations may feel they are doing the most expedient thing for securing their organizations by rolling out more conventional MFA," said Horacio Zambrano, Chief Marketing Officer of Secret Double Octopus.
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Passwordless authentication saves the average organization $1.4M in costs over conventional password-based authentication. Passwordless authentication saves an average of $534K over conventional authentication in help desk costs, with organizations spending an average of roughly $1.5M over a two-year period. To estimate the total amount of economic loss from traditional password-based authentication versus passwordless, Double Octopus and Ponemon asked organizations to detail the costs attributed to a range of costs, including direct IT costs, downtime, lost business, damaged reputation and paid ransomware. Traditional Password Authentication Significantly More Expensive Cloud infrastructure and services are deemed the highest area of risk with 60% of organizations feeling remote work makes for less secure cloud infrastructure despite being the resource they are most protecting with MFA (53% of organizations indicated MFA use for cloud services). The study highlights that organizations feel that the impact of remote work is reducing security posture. The study highlights that most organizations are using MFA in some way, with 60% reporting some use, but key areas such as servers, VPN, legacy software, mobile applications and virtualization all have MFA in use at less than 40% of respondents’ environments. "Going forward organizations are extremely bullish on adopting passwordless authentication."
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"Enterprises continue to feel threatened in the pandemic with many feeling targeted, and this along with remote work and associated loss of productivity from password problems is driving increased adoption of passwordless technologies," said Dr Larry Ponemon. In addition, using survey responses the cost of economic efficiencies from the use of passwordless technologies was calculated and suggests cost savings of $1.9M over conventional password-based MFA.
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Results demonstrated that remote work has and will continue driving adoption of workforce passwordless authentication.
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PALO ALTO, Calif., October 26, 2021-( BUSINESS WIRE)-Secret Double Octopus, in partnership with the Ponemon Institute, announced today the results of a US-based study focused on understanding the state of workforce passwordless authentication, from motivational drivers to results after transitioning to its use. Survey Finds Organizations Can Save Nearly $1.9M in Cost Savings from Passwordless Over Conventional Authentication Over a 2-year Period