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Venafi survey finds over 78% of organisations have experienced downtime and financial losses due to mismanaged data encryption this year

November 2010 by Venafi

Venafi, Inc., the provider of automated encryption management solutions including SSL certificate management and enterprise key management recently completed a survey of over 150 respondents entitled “Security and Availability: SSL Certificate and Key Management.” Venafi invited the 150-plus survey participants from the world’s largest companies to give their views on the problem of downtime caused by increasing encryption deployments, coupled with an acute lack of enterprise management controls.

The results of the survey were shocking:

Participating organisations anticipate a 27% year-over-year certificate and key inventory growth rate
85% of organisations manage encryption certificates and private keys manually via spreadsheet and reminder notes
78% of organisations have experienced system downtime due to encryption failures in the past 12 months
96% of organisations use certificate based server-to-server and/or server-to-client mutual authentication for secure communications inside the firewall
71% of organisations have regulatory auditors assessing against private and asymmetric key management

Paul Turner, Vice President of Product and Customer Solutions at Venafi said: “This data validates what we’ve long seen at our Global 2000 installed base and prospect accounts. Certificate-based encryption deployments have exploded in recent years. Nearly every IT system and application relies on SSL certificates for trusted communications, including device and user authentication, in an effort to connect systems and users to the infrastructure securely. The result is that large enterprises are faced with the prospect of deploying and manually managing thousands and, in some cases, tens of thousands of certificates of keys.”

Encryption has become ubiquitous in today’s IT infrastructure and is a critical element of any security strategy with surging encryption volumes intended to secure communications and reduce vulnerabilities. When properly managed, encryption ensures against system downtime and failed audits. Yet leading organisations expose themselves to unnecessary risk and outages when encryption keys and certificates are not properly managed.

Without policy-based encryption management in place, system failure and data loss will continue to plague organisations of all sizes and industries with increasing cost and frequency.

Take the brief, ten-question encryption survey today to see where your company or organisation compares to your peers.

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