BOSTON, Oct. 05, 2017 (GLOBE NEWSWIRE) -- A new study from LastPass and Ovum reveals that despite the clear and present danger that weak passwords pose to organizations, many remain focused on implementing technology based on policy, not the user, to address the problem. More than half of IT executives surveyed rely on employees alone to monitor their own password behavior, subsequently leaving the company at risk, shining a light on the disconnect between IT policy and human behavior. The report, which surveyed hundreds of IT executives and corporate employees globally, found that 78 percent of IT executives lack the ability to control access to the cloud-based applications used by their employees. Most companies are aware of this lack of visibility and control, yet the majority are not doing enough, if anything at all, to address the situation.
The study also revealed that 76 percent of employees say they experience regular password usage problems and more than a third of users need password-related help desk support at least once every month. At the same time, nearly three-quarters said they would want to use a tool to help store and access passwords without needing to remember each one if their company offered a solution.
Additionally, the study provides insights into how many organizations are leaving holes in their security, including:
“This research has clearly identified an urgent need to close the password security gap,” said Andrew Kellett, Principal Analyst, Infrastructure Solutions at Ovum. “Far too many organizations are leaving the responsibility for password management to their employees and don’t have the automated password management technology in place to identify when things are going wrong.”
“In many cases, an organization’s password management practices are overly reliant on manual processes and far too often place an excessive level of trust in employees to use safe password practices,” said Matt Kaplan, GM of LastPass. “The threat posed by human behavior coupled with the absence of technology to underpin policy is leaving companies unnecessarily at risk from weak or shared passwords. Organizations need to focus on solving for both obstacles in order to significantly improve their overall security.”
This report was written by Ovum in collaboration with LastPass. The research and analysis is based on original, independent research by Ovum. In August 2017, Ovum surveyed 355 IT executives and 550 corporate employees, covering 13 vertical markets in the three major business regions of the world (North America, Europe, and Asia-Pacific).
LastPass is an award-winning password manager that helps millions around the world organize their online lives. LastPass provides secure password storage to make going online easier and safer, with convenient access from any internet-enabled device. LastPass Teams and LastPass Enterprise remove password obstacles in the workplace, so businesses of all sizes can manage employee access and mitigate the risk of data breaches. Founded in 2008, LastPass is headquartered in Fairfax, Virginia and is a product of LogMeIn (NASDAQ:LOGM).
LastPass is a trademark of LogMeIn in the U.S. and other countries.
About LogMeIn, Inc.
LogMeIn, Inc. (NASDAQ:LOGM) simplifies how people connect with each other and the world around them to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses. One of the world’s top 10 public SaaS companies, and a market leader in communication & conferencing, identity & access, and customer engagement & support solutions, LogMeIn has millions of customers spanning virtually every country across the globe. LogMeIn is headquartered in Boston with additional locations in North America, Europe, Asia and Australia.
Lauren Van Dam