Titaniam’s 2022 State of Enterprise Tokenization Report
Titaniam’s State of Enterprise Tokenization Report for 2022 finds that 40% of enterprises spending jaw-dropping sums of over 1M per year on tokenization, 70% of them complain of inadequate coverage and compromised data resulting in a whopping 98% of enterprises being ready to embrace a more modern solution that provides strong security with better coverage and without usability tradeoffs.
99% Of Users Unsatisfied With Traditional Tokenization
Since its introduction in 2001, Tokenization has remained an indispensable tool in the enterprise security toolbox. When sensitive data is tokenized, the original data is replaced with an unrelated randomly generated token (in the case of Vaulted tokenization), or a cryptographically generated one (in the case of Faultless tokenization). With the original data not being present in applications and databases, attackers breaking into these systems are unable to access anything of value. Tokenization serves not just a security purpose but also speaks to privacy and compliance use cases.
Over 40% Of Organizations Spend Over $1m Each Year On Tokenization
It is no surprise then that enterprises are willing to go to great lengths to implement tokenization solutions, despite the extremely disruptive and resource-intensive nature of traditional tokenization solutions. Beyond just the time and effort to deploy, tokenization also presents an extremely high cost in business data use, eliminating all rich data usage options. Data cannot be searched or analyzed for insight in its tokenized form. For it to be used insightfully, the data must be detokenized and released right back into its original vulnerable clear text state. Some traditional tokenization solutions detokenize in memory while others release clear text into downstream analytical processes, thus limiting the overall security benefit.
Our study aimed to gather raw data on ransomware attacks, data exfiltration, extortion, ransom payments, prior investments in security, as well as forward-looking budget priorities.
We also gathered data on security investments and budgets. Ultimately, the data showed that strong data security that protects against exfiltration and extortion is an enormous and critical need in the fight against ransomware. We offer this data to you so that you have the information you need to make a strong case for improving data security in your organization.
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