Going beyond the standard: Announcing the State of Trust Report 2024 and VantaCon agenda

Building and scaling trust has become more difficult for organizations of all sizes. With more reliance on third-party vendors and AI technologies, security leaders face an increasingly complex threat landscape. However, many teams are left to manage this complicated landscape with screenshots, spreadsheets, and legacy solutions that rely on manual updates and limit them to point-in-time visibility into their security posture. 

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To keep pace with where the future of trust is headed, security leaders need to go beyond the standard way of doing things by making trust continuous, collaborative, and automated across every part of their business. 

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Today, we’re excited to release our annual State of Trust Report 2024, an in-depth analysis uncovering global trends in security, compliance, and the future of trust. We’re also proud to announce our lineup of all-star speakers and panelists for our third annual user conference, VantaCon 2024: Beyond the Standard. 

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Key findings from the State of Trust Report 2024

Conducted by Sapio Research on behalf of Vanta, the State of Trust Report 2024 surveyed 2,500 business and IT leaders across the US, UK, and Australia, to uncover the latest trends shaping security, compliance, and the future of trust. The findings show that the security landscape has never been more challenging—with cybersecurity threats ranking as the number one concern for businesses in 2024 over financial and operational risks. 

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A majority (55%) of organizations say the security risks for their business have never been higher. Yet the average company dedicates only 11% of its IT budget to security, while leaders say it should ideally be 17%. And as security expectations grow, leaders continue to recognize the business value of investing in security—and demonstrating it. Close to two-thirds (65%) of organizations say that customers, investors, and suppliers increasingly require demonstration of compliance. 

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Here are some other trends from the report: 

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The compliance burden is growing

• 11 working weeks a year are spent on compliance tasks—increasing by 1 week since last year
• Respondents say they could save between 3-5 hours each week—up to 5 working weeks a year—if security and compliance tasks were automated

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Third-party breaches undermine overall security and trust

• 46% of organizations say that a vendor of theirs has experienced a data breach since they started working together
• 62% agree that third-party breaches negatively impact their organization’s reputation

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Organizations are building trust in AI

• 62% of organizations plan to invest more in AI security in the next 12 months
• 36% of organizations have, or are in the process of putting, a company AI policy in place

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Get even more insights and key trends from The State of Trust Report 2024. 

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See the VantaCon 2024 speaker lineup

As the trends in this year’s State of Trust Report show, to uphold trust in an AI world, security leaders need to go beyond the standard way of doing things. 

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On November 20, Vanta will host VantaCon 2024: Beyond the Standard in San Francisco to explore how companies can move beyond the expectations of the security and compliance industry. This event will bring together security's brightest minds for a half day of keynotes and expert panels to talk about how the security landscape is transforming and what organizations can do to prioritize trust today. 

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Today, we’re excited to unveil our full speaker line up for VantaCon that include security leaders from best-in-class organizations. Our speakers include: 

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• Jason Chan, Former VP of Security, Netflix
• Rinki Sethi, CISO and CIO, BILL
• Mike Johnson, CISO, Rivian Automotive
• Charles Nwatu, Security Engineering, Netflix
• Varun Gurnaney, Security Engineer
• Bryan Culp, Trust and Quality, Box
• Phil Grove, Ecosystem, Atlassian

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We’ll also have keynotes that highlight new Vanta products from our leaders and customers. Get your ticket for our in-person VantaCon event in San Francisco or register for the livestream of our product keynote. 

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Go beyond the standard with Vanta

The future of trust requires going beyond the standard approaches to security and compliance. We’re here to help security leaders and their teams reduce risk, build customer confidence, and accelerate revenue growth as they start to make this shift.

Let’s raise the standard together. Get the full State of Trust Report 2024 for more insights and join us at VantaCon on November 20 or register for the livestream of our product keynote.