Protecting the Passwords in the Clouds

By Joseph Carson

Ten years ago, the only way to reach clouds was by airplanes. Those days are long gone. Now, most people have more than enough access to the cloud in the workplace and in their personal lives.

Most organizations use the cloud and SaaS solutions for data storage, marketing, human resources and ERP applications. What are the next applications that organizations will implement via the cloud and a SaaS model?

In a recent survey we conducted through SurveyGizmo, we asked 200 IT administrators their thoughts on whether they would be willing to deploy IT security applications via the Cloud in a SaaS model.

Our assumption was because organizations are often worried about security when they implement a SaaS solution; that they would be hesitant to use a SaaS deployment model to protect their company’s information assets. That assumption proved to be wrong.

We asked these IT administrators if would they trust a public cloud to store their privilege accounts and 60 percent said they would. Most trusted cloud from a security and trust perspective was Microsoft Azure from these respondents, which is why we chose Microsoft for Secret Server Cloud for its integrity and confidentiality.

Forrester estimates 80 percent of breaches involve privileged passwords. With the average cost of a IT security breach at $861,000, organizations need to urgently improve the protection of their privileged passwords. It’s not surprising that a staggering 86 percent of survey respondents said it’s “very important” to protect these privileged passwords. So, could the next killer app be a SaaS solution that secures these privilege passwords?

The next killer app in the cloud is Privileged Account Management as a Service. Many companies are moving away from traditional brick and mortar offices and with this we see many of those companies moving to the cloud to fully run and operate their business. However, as those businesses start to grow quickly and even as traditional companies use more and more cloud services, managing and securing all of those privileged accounts start to become a major challenge.

Privileged Account Management as a Service solves many of those challenges and allows these companies to focus on their core business and let Thycotic Secret Server Cloud take care of those pains. It allows a company to really take advantage of cloud applications and even those on-premise applications by protecting, securing, auditing and sharing privileged accounts. For companies using traditional environments and cloud applications however, you have many third party contractors who need access to cloud applications and can now leverage Secret Server Cloud to share and provide privileged access without the need to give them access to your network.

We continue to see privileged accounts as one of the most sought-after assets by hackers and cyber criminals, whether it is to damage the company’s service or for financial fraud. If you experience another data breach (for example Dropbox or LinkedIn) rather than asking your employees to quickly change those privileged accounts and hope they follow the request, Thycotic Secret Server Cloud makes this easy and allows a company to quickly eliminate the risk. Do not let privileged accounts get in the way of your business and compromise security. Let Thycotic Secret Server Cloud protect, secure, audit and easily share privileged accounts, so you can do more fun things at work.

With the launch of our latest solution, Secret Server Cloud, we can help organizations secure their privileged passwords via a SaaS model. We’ve designed this application to help IT professionals to discover, manage and secure their privileged passwords and dramatically reduce the risk of costly cyber breaches. Secret Server Cloud provides comprehensive privileged password security capabilities, which can be deployed in five minutes and is easy to use and is available starting at $250/month.

Breaches and ransomware attacks happened to organizations a lot recently and our job is to mitigate these for enterprises across the world. With the overwhelming success of our Secret Server solution, we’re excited to venture into the cloud and help protect organizations with Secret Server Cloud.

Start a free trial of Secret Server Cloud today.

Source:: Thycotic