Kiteworks, a leader in secure data management, recently released its 2024 Sensitive Content Communications Privacy and Compliance Report. The survey cites significant challenges in handling sensitive data. Tim Freestone, Chief Strategy and Marketing Officer at Kiteworks, stresses the urgency of addressing these security gaps to comply with strict regulations. He notes the proliferation of communication tools has increased the complexity and risk, with many organizations using over six different tools, complicating security and operational efficiency.
Findings from the report include:
- A widespread struggle with compliance reporting; with 34 percent of organizations generating audit logs over eight times a month to meet compliance demands. Frequent data breaches are a concern, with one-third of organizations experiencing more than seven breaches last year, leading to 26 percent incurring over $5 million in legal costs.
- The gap in advanced security detection and response remains large. Notably, 42 percent of security and defense organizations reported over seven breaches, underscoring the need for enhanced security measures.
- 57 percent of respondents admit they cannot effectively track or control sensitive content shared externally.
- 52 percent of manufacturers can track sensitive data internally, but only 39 percent can do so externally.
- Top priorities are preventing IP leakage (61 percent) and avoiding operational outages (44 percent).
- 34 percent of manufacturers exchange sensitive content with over 2,500 third parties.
- 94 percent of manufacturers need improvement in compliance management, higher than the overall average of 88 percent.
- 98 percent of respondents need improvement in managing security risks of sensitive content.
- Only 42 percent reported the use of encryption and multi-factor authentication consistently.
- 49 percent of manufacturers faced five or more data breaches.
- 66 percent of organizations interact with over 1,000 third parties.
Patrick Spencer, VP of Corporate Marketing and Research at Kiteworks, comments, “The 2024 report exposes critical gaps in how organizations manage and secure their sensitive data. With many experiencing multiple data breaches and struggling to meet compliance requirements, it is imperative that businesses take proactive steps to fortify their sensitive content communication strategies.”
Comprehensive survey results can be found at https://www.kiteworks.com/sensitive-content-communications-report.
