Proofpoint Introduces New Cloud-based ObserveIT Insider Threat Management Platform with Broader People-Centric Visibility and Insider Threat Detection

Rhea-AI Summary

Proofpoint, Inc. (NASDAQ: PFPT) has launched a cloud-based ObserveIT Insider Threat Management (ITM) platform aimed at enhancing insider risk detection and incident response. This innovative platform integrates real-time threat visibility and unified security protocols, designed to mitigate the growing risks associated with insider threats, which account for over 30% of data breaches. The Ponemon Institute reports a 31% increase in the average global cost of insider threats, now at $11.45 million. With features including improved detection capabilities and streamlined incident response, the new platform aims to bolster cybersecurity for organizations.

Positive

• Launch of the cloud-based ObserveIT ITM platform enhances insider risk detection and incident response.
• Integration of real-time threat visibility and incident response improves overall cybersecurity measures.
• New platform addresses a growing market need, as insider threats account for over 30% of data breaches.

Negative

• None.

SUNNYVALE, Calif., June 30, 2020 (GLOBE NEWSWIRE) -- Proofpoint, Inc., (NASDAQ: PFPT), a leading cybersecurity and compliance company, today announced a new, cloud-based ObserveIT Insider Threat Management (ITM) platform to provide insider risk detection, accelerated incident response, and broader unified visibility across user activity, data interaction, and threat context. Generally available today, the innovations featured in this new ITM cloud-based platform introduce a new people-centric user risk analysis paradigm that reduces risk, delivers greater ROI, and offers a truly scalable approach for modern cybersecurity teams.

“More than 30 percent of all data breaches are related to insiders – whether they be acting negligently, maliciously, or compromised by an outside actor,” said Mike McKee, executive vice president and general manager of Insider Threat Management for Proofpoint. “To help organizations combat this distinct and complicated threat, we have built on ObserveIT’s heritage as a purpose-built insider threat management solution within a modern, highly scalable and extensible cloud-native architecture. We are thrilled our insider threat customers can now leverage the full capability of Proofpoint’s world-class people-centric cybersecurity platform.”

According to the Ponemon Institute, the average global cost of insider threats rose by 31 percent in two years to $11.45 million and the frequency of incidents spiked by 47 percent in the same time period. As the way people work and interact with information rapidly evolves, the notion of traditional security perimeters subsides, leaving people as the new perimeter. It’s vital that organizations have visibility into where their critical data resides, who has access to it, and verify that those people aren’t abusing that access.

Proofpoint’s integrated people-centric security approach is a powerful solution to the challenges associated with protecting people and the critical data they work with. This integration, which is fundamental to holistically managing insider risk, combines unique real-time threat visibility, cloud app security broker (CASB) information protection, and security awareness training with the ObserveIT endpoint-based ITM platform.

The new cloud-based ObserveIT ITM innovations include:

• Enhanced insider threat detection capabilities that reduce the mean time to detect (MTTD) insider incidents. These advancements lower the frequency and severity of incidents – ultimately decreasing the financial and brand damage associated with insider-led breaches.
   
• Integrated incident response workflow streamlines and accelerates cross-functional coordination to reduce the mean time to respond (MTTR). This integration also more effectively mitigates adverse impacts related to insider incidents.
   
• Simplified and highly scalable cloud deployment that delivers organizational agility and minimized time to value for resource-constrained cybersecurity teams.

For more information on the new Proofpoint ObserveIT Insider Threat Management (ITM) cloud-based platform and how to proactively stop insider threats, please visit https://www.proofpoint.com/us/products/information-protection/insider-threat-management.

About Proofpoint, Inc.
Proofpoint, Inc. (NASDAQ: PFPT) is a leading cybersecurity company that protects organizations’ greatest assets and biggest risks: their people. With an integrated suite of cloud-based solutions, Proofpoint helps companies around the world stop targeted threats, safeguard their data, and make their users more resilient against cyber attacks. Leading organizations of all sizes, including more than half of the Fortune 1000, rely on Proofpoint for people-centric security and compliance solutions that mitigate their most critical risks across email, the cloud, social media, and the web. More information is available at www.proofpoint.com.

Connect with Proofpoint: Twitter | LinkedIn | Facebook | YouTube

Proofpoint is a registered trademark or tradename of Proofpoint, Inc. in the U.S. and/or other countries. All other trademarks contained herein are the property of their respective owners.

PROOFPOINT MEDIA CONTACT:
Kristy Campbell
Proofpoint, Inc.
(408) 850-4142
kcampbell@proofpoint.com

FAQ

What is the new platform launched by Proofpoint?

Proofpoint has launched the cloud-based ObserveIT Insider Threat Management (ITM) platform.

What are the key features of the ObserveIT ITM platform from Proofpoint?

The platform features enhanced insider threat detection, integrated incident response workflow, and simplified cloud deployment.

How do insider threats impact organizations financially?

According to the Ponemon Institute, the average global cost of insider threats has risen to $11.45 million.

What percentage of data breaches are attributed to insiders?

Over 30% of all data breaches are related to insider threats.

When was the new ITM platform made available?

The new ITM platform was made generally available on June 30, 2020.