How to reduce cyber risks for endpoints? Companies need to better manage hardware and firmware security

HP, in an official note, recently disclosed the results of a report that highlights the profound cybersecurity implications of failing to protect devices at every stage of their lifecycle. The results reveal that the security of the platform, viz Protecting the hardware and firmware of PCs, laptops and printers is often overlookedcompromising its safety for years to come.

The report, the result of a global study involving more than 800 IT and security decision-makers (ITSDMs) and more than 6000 employees in work from anywhere (WFA) modeshows how platform security is a growing concern. 81% of ITSDMs agree that hardware and firmware security should become a priority to prevent attackers from exploiting vulnerable devices. However, 68% report that investments in hardware and firmware security are often overlooked in the total cost of ownership (TCO) of devices, leading to costly security issues, management burdens and inefficiencies down the road.

34% of respondents say a PC, laptop or printer supplier has failed a cybersecurity audit in the last five years, with 18% terminating the contract due to serious failures. 60% of ITSDMs say the lack of IT and security involvement in device purchases puts their organization at risk.

More than half (53%) of ITSDMs admit that BIOS passwords are sharedused excessively or not sufficiently robust.

The report also highlights that over 60% of ITSDMs do not update firmware as soon as they are available, while 57% are afraid to update (FOMU), while believing that the advancement of AI leads attackers to develop exploits more quickly.

It also emerges that every year, Lost or stolen devices cost organizations approximately $8.6 billion. One in five WFA employees has lost or had a PC stolen, taking an average of 25 hours to notify IT.

Nearly half (47%) of ITSDMs say data security concerns are a major barrier when it comes to reusing, reselling or recycling PCs or laptops.