Identity and access management (IAM) is a protocol for administrative processes that organises, arranges, and centralises the electronic and online characters of the businesses.
It’s primarily made up of company resources to manage online identities in addition to the resources required to bolster identity management.
These IAM solutions range from multi-factor authentication (MFA) to single sign-on (SSO), and access management. All of these can be deployed either on-premise or in the cloud.
Today’s identity infrastructure continuously encounters the traditional challenge of multiple passwords to different applications, therefore, the need for an IAM solution is more evident.
It’s able to provide users with secure access, but also delivers improved processes and allows businesses to save significant time and costs.
Every business has its challenges, that’s for sure. Modernising IT will affect your business, no matter your industry.
Whether your organisation needs to improve the overall customer experience, incorporate a vast number of apps, or provide added protection against data breaches, an IAM solution can address multiple challenges and at the same time ensure continuous business operations.
In this blog post, we look at 3 reasons why you absolutely should have IAM at the heart of your digital security strategy.
Let’s dive in:
1. IAM Streamlines access control and minimises data breaches
Perhaps the most significant asset that IAM can bring to your business is the ability to strike a perfect balance of setting-controlled policies for the right access privileges. Armed with IAM’s support, your business leaders can manage user access to critical systems.
IAM tech is responsible for providing your business leaders with the current security state of your organisation’s digital assets and infrastructure. This offers better security, a smoother management process and greater flexibility.
It reduces the chances of data breaches. According to IBM, the average cost of a data breach is currently sitting at $3.86 million! So this is a huge asset to your security strategy.
IAM is made up of security solutions that no longer require employees to remember multiple passwords. Instead, your employees will have to prove their identity using biometrics or other evidence-based verification. It, therefore, provides your IT department with a consistent method for managing user access.
The revocation access of a former employee will take effect immediately across all tech platforms that are integrated with your IAM solution. This solution is geared with progressive encryption tools that help protect sensitive business information which reduces the risk of compromised user credentials.
In a case where user credentials are compromised, your IAM solution will make it quicker for your IT department to pinpoint which user was jeopardised and what data was accessed.
Identity management has become increasingly prominent with the rise of regulations like the EU’s GDPR and South Africa’s POPI act. An IAM solution is critical in helping your business survive complicated security audits
It also keeps track of sign-on performance metrics, compliance, and traffic to record user provision and de-provisioning as employees are put onboard or terminated. Lastly, it also provides analytical reports on apps, users, and other login events.
2. It helps you go beyond regulatory compliance at a reduced cost
While it is no secret that businesses must comply with regulatory requirements to operate, the process doesn’t stop there.
IAM will enable your business to identify innovative ways to go beyond compliance. Specifically around data and privacy management.
It’s important to go the extra mile when it comes to your digital security strategy. This will help your businesses detect problems before any of them can create irreparable damage to your operations.
Through the standardisation and automation of several aspects of authorisation management and identity authentication, your business can trim down on the high labour costs associated with keeping a secure operational environment.
A single IAM platform to supervise all user access will enable your administrators to work efficiently and ensure adequate access to resources. An IAM solution like SSO will limit the number of interactions that can be had with your security systems.
Your IAM solution should provide your business with security without undermining convenience and usability. A secure digital security strategy is not a matter of “if” but rather “when” you adopt an IAM program for your business.
3. It enables the workforce to be more productive
A good IAM solution will boost productivity levels. It should provide your employees with secure access to IT resources, which enable them to do their job rather than using tools that are tied to legacy systems.
It will allow you to cultivate top-notch security measures while eliminating the barriers that disrupt a productive workflow. Thanks to IAM, your employees can remove tedious and repetitive tasks, thus, giving them a seamless work experience regardless of the domain, device, or application.
An IAM solution like SSO will also dramatically minimise IT help desk tickets and streamline admin tasks like password resets.
They’ll no longer spend all day assisting users with access issues when a password is revised. This will free up their time, allowing them to focus time and energy towards different projects.
Innovative technologies will enable your business to be more efficient and agile. It’s essential to keep in mind that this advancement also means that your workforce should also go beyond the protections of on-premise security.
IAM is no longer an IT problem but a business one.
Adopting an IAM solution helps make sure that your employees, customers, and partners have verified identities and are only able to access the resources they need.
Above all, IAM helps your businesses keep up with best login practices to stay on top of shifting trends and adjust accordingly.
Are you ready to find out how mature your IAM program is? Simply click the button below to take our FREE online maturity assessment