Report: Growing Majority of Companies Lose Revenue Due to Bots
Kasada, a New York-based cybersecurity vendor specializing in bot attacks, has released its 2022 State of Bot Mitigation Report claiming that the use of bots is skyrocketing.
According to the report, 69% of companies that have a bot management solution have lost more than 6% of their revenue due to account fraud this year; up from 64% in 2021.
Forty percent of companies lost 10% of revenue or more, a major increase from 2021 when only 5% reported that level of revenue loss. Account fraud includes account takeovers (ATO) and new account fraud, where fraudsters create fake accounts to gain access to loyalty programs and take advantage of promotional discounts.
Eighty-three percent of companies say that bots are becoming more sophisticated and difficult for their security tools to detect. This amount increased from last year’s 80%.
A majority of companies (62%) have spent more than $500,000 fighting bots within the past 12 months. This is a 14-point increase from last year, when only 48% were spending more than $500K. More than 20% of companies have spent $2.5 million or more fighting bots this year, and 85% of companies expect that number to increase this year.
Companies continue to spend a majority of their bot management budget (66%) on management and remediation of their anti-bot tools vs. the anti-bot solution itself.
Nearly 40% of companies also reported a 10% or greater loss of revenue due to bot-driven web scraping. This is an increase from the 7% that indicated web scraping was a problem last year. Web scraping occurs when bots extract prices or content to obtain a competitive advantage.
“Bots continue to evolve and thrive at the expense of companies,” said CEO and founder Sam Crowther. “As this year’s research confirms, it is imperative that companies have an anti-bot solution that evolves, keeping them a step ahead of attackers.”
Kasada commissioned an independent market research agency, to conduct a survey of more than 200 technology professionals throughout the United States who said they or their teams have the responsibility of managing and/or mitigating bots. Fieldwork took place in August 2022.
Channel partners are consistently seeking new product and service offerings that can prove as a differentiator for their cybersecurity offerings.
Microsoft Launches Cloud Partner Program with Enhanced Portal
Microsoft has rolled out a new channel program intended to better support cloud-focused partners. A key focal point involves a new partner website designed for easy navigation.
The site focuses on solutions, capabilities, training, support, demand drivers, opportunities, special initiatives, events, and forums designed to help partners connect with Microsoft and with one another.
The “Partner” section includes an overview of key offerings, tools, and resources covering a wide range of business needs. The “Build” tab features resources for those looking to develop competitive solutions. The “Go to Market” section is home to self-service marketing resources, providing guidance and support to help partners drive customer demand. Access to an online product catalog can also be found on this tab. The “Sell” tab focuses on additional sales tools. “Differentiate” details the benefits of attaining a Solution Partner designation or earning a specialization. “Explore” helps partners identify and tap into distinct, evolving customer opportunities based on business model, high-demand markets, and Microsoft initiatives. “By Opportunity” provides access to customer opportunity in distinct solution areas and industries. “By Initiative displays opportunities to work with Microsoft to create solutions. “Connect” includes online forums and key events designed to build business connections. Additional tabs exist for Training and Support.
The Microsoft Partner blog offers key announcements, guidance, and the latest details about the program.
The redesigned site is intended to centralize the most relevant offerings to help partners accelerate growth and drive long-term profitability.
Trellix Launches Unified Partner Program and Expanded Security Alliance
Trellix, a Las Vegas-based cybersecurity company focused on extended detection and response (XDR), has officially rolled out “Xtend,” the company’s new partner program.
Trellix also announced new technology integrations to its XDR offerings through the Security Innovation Alliance, a program simplifying the development of inter-operable security products.
Key program elements include a training curriculum that supports partners from first sale to first install of the Trellix XDR platform; differentiated sales plays to accelerate customer engagement, increase deal registration, and build sales pipeline; 24/7 support and resources; and playbooks enabling partners to build managed services and incident response offerings.
New members join the Security Innovation Alliance.
Trellix expands the reach of its open platform with the addition of ten technology partners. These include Tenable, Lineaje, Arista Networks, Keysight Ixia, Elevate Security, Sumo Logic, SecureX.ai, Okta, GreyNoise, and CPacketNetworks. These new additions bring the ecosystem to over 800 partners integrated with Trellix XDR.
The program is designed to increase profitability, engagement, and growth across the company’s global partner ecosystem.