Many traditional endpoint security approaches are ineffective, according to the "Cost of Insecure Endpoints Benchmark Study" conducted by self-healing endpoint security company Absolute and independent research firm Ponemon Institute.
The Cost of Insecure Endpoints Benchmark Study of 556 IT and IT security practitioners showed organizations spend an average of $6 million annually to detect and contain insecure endpoints, manage unplanned downtime and reimage and patch endpoints, Absolute said in a prepared statement.
In addition, the study indicated one failed endpoint costs an organization an average of $612, Absolute noted.
Key Endpoint Security Research Findings
Key findings from the Cost of Insecure Endpoints Benchmark Study revealed:
- 63 percent of study respondents said they could not monitor endpoint devices when they left the corporate network, while 53 percent revealed that malware-infected endpoints have increased in the past 12 months.
- 56 percent stated their companies lack a cohesive compliance strategy, and 70 percent reported a "below average" ability to minimize endpoint failure damage.
- 55 percent said endpoint management and security applications have been removed or corrupted.
In addition, many organizations are finding it increasingly difficult to identify dark endpoints, i.e. rogue, out-of-compliance or off-network devices that create blind spots and increase an organization's vulnerability to attack, according to Absolute.
Are Automation Tools Paramount for Today's Organizations?
Many study respondents said they believe automation increases efficiency and offers better visibility of dark endpoints, Absolute pointed out.
Wasted time responding to erroneous malware alerts costs organizations an average of $1.37 million annually, the Cost of Insecure Endpoints Benchmark Study revealed.
However, enterprises could save nearly $2.1 million annually with automated endpoint security solutions, according to the study.
"This study along with recent ransomware attacks and high-profile data breaches show the danger of today's endpoint blind spots, and underscore that automation and newer approaches to endpoint security are key to safeguarding endpoints and the sensitive data on them for optimal business performance," Absolute CEO Geoff Haydon said in a company statement.
How Much Money Can Organizations Save with Automation?
Current practices to secure endpoints are inefficient and costly, Absolute noted in its report.
Conversely, organizations could save more than $2 million annually with automated endpoint security tools that make their IT and IT security teams more productive, according to Absolute.
"Organizations are ineffective in reducing the risk of insecure or off-line endpoints and have difficulty in determining endpoint compliance," Absolute said in a prepared statement. "Automation of endpoint security is key because it leads to more visibility, quicker action, increased time-savings and exponential cost-savings.