Attack surfaces over the past decade have become more complex than ever, and the overall surface area has ballooned significantly. As our world continues to come online, cybersecurity vulnerabilities become even more apparent.
No one thinks—or cares—more about cybersecurity than the security professionals responsible for protecting their enterprise’s applications and data. And their lives get tougher every day. According to Ponemon Institute, the global average cost of a data breach is $3.86 million, up 6.4 percent over the previous year. Not a day goes by without a high-profile data breach hitting the headlines.
While enterprises acknowledge the threat and allocate resources — according to recent survey, enterprise security budget increased by 20.46 percent from 2017 to 2018— it simply can’t keep pace with the growing number, and complexity of threats.
Why is the enterprise losing the cybersecurity battle? Four reasons:
Securing your applications and data has never been a fair fight—and it’s getting more unfair each day with more devices coming online and less skilled workers available to defend them. Additionally, the enterprise is fighting a 21st-century problem with 20th-century resources and thinking.
Crowdsourced security breaks that mold by leveraging a large pool of security testers to go out and find high-risk vulnerabilities, and not to complete a simplistic set of tests that do not reflect the way advanced attacks actually work. Crowdsourced security helps organizations uncover 7X more critical vulnerabilities than traditional security assessment methods.
Managed bug bounty and vulnerability disclosure programs utilized the crowdsource security model, providing security teams with the ability to strengthen product security as well as cultivate a mutually rewarding relationship with the security researcher community. Bug bounties multiply the potential manpower of traditional security assessment methods exponentially, increasing the odds of finding more valid vulnerabilities at any given time. Having such a large testing pool gets you as close to 24/7 human testing coverage as you can get. This model incentivizes a diverse community of researchers with the determination and skills to find critical vulnerabilities quickly and efficiently.
Download The Ultimate Guide to Managed Bug Bounty and learn the ins and outs of crowdsourced security, managed bug bounty and vulnerability disclosure programs, the benefits of each, and how to successfully implement a managed bug bounty program as part of your application security strategy.