Why do you Need Identity & Access Management

As the number of applications your business uses expands, so does the need for increased security. Indeed, each year on a worldwide basis companies spend billions of dollars to prevent data breaches. And, this is only increasing.

Though data breaches occur in all industries, Cybersecurity research reports indicate that there are certain industries that experience with the greatest frequency. Despite the fact that most businesses are taking focused measures to combat the issues, data breaches are increasing at a higher pace.The data breaches have been reported at an alarming rate during the pandemic. Most of the incidents reported are from the giant business groups who already have robust cybersecurity models, such as actively monitor and analyze information security intelligence, deploy security information and event management tools solutions, using service providers to manage identity and access management, intrusion detection tools and proactive in their vulnerability assessments

So in this scenario let us understand why identity & access management is very much important for the organizations

What is IAM (Identity Access Management)?

Identity and Access Management (IAM) refers to the structures and processes within an organization that administer and manage resources. These processes deal with network access rights, privileges, and group memberships.

Why Do You Need IAM?

Normally, in the majority of small companies, user credentials are taken care of by the IT departments. In mid-size companies, this is done with slightly more enhanced security, but this no way sufficient to defend the modern-day threats. Almost 30 % of data breach victims experience identity theft at a later time, 70 percent of IT security professionals say their enterprise suffered a breach due to a compromised privileged account.

Because of the growth in newer technologies encompassing cloud computing, big data, and BYOD, data security has become very crucial. The amount of information being stored, used and transmitted, it is mandatory to outline firm restrictions on data access. Restricting or limiting the access to data for users who don’t require it reduces the risk of data leakage.

IAM is not limited to access to a system, either. Access restrictions can also be applied to internet networks, internet connections, specific websites, and access to printers, server rooms, software applications and Wi-Fi. In a complex infrastructure working with individual IAM level is often a tedious task for the security professionals, rather they can work with groups and roles, making it easy to update IAM definitions as per the changing business requirements. Limit the access privileges to cloud assets and APIs for users in regards to their role and tasks. The more you apply for privilege access, the higher the levels of authentication.

Maintaining a robust IAM policy can provide the benefits such as confidentiality of data, performance, segregated Tasks, and enhanced security.

The benefits of Identity Management include

Reduced Costs

Automation eliminates manual steps and reduces the overall number of steps required to complete user authentication and assigning user controls, automation links organizations together and workflow supports a more streamlined business process.

Improved Security and Enhanced Compliance Reporting

Who can access user data and change that data, who can create and who can delete user accounts is tightly controlled and auditable, all changes to user records is auditable.

User accounts can be created and passwords synchronized and users can be accurately and quickly de-provisioned from all systems.

Increased Productivity

New applications utilize existing administrative structures with existing user stores or even new user stores, eliminating the creation of new administrative positions and process for each new application deployed.

Employees and contractors employed to manage any aspect of the applications or business transactions support for the new system, product or service delivery are quickly defined and added into the required applications.

Increased User Satisfaction

Users of all types can access easy to use self-service systems reducing support call frustration and offering 24-hour service. In addition, Forgotten Password Service allows end-users to reset their own passwords, thereby avoiding frustrating help desk calls.

New employees and contractors can quickly get to work avoiding the frustration of “waiting to get access to email and applications.” They can also get quick access to applications and data as teams are formed and roles are changed making all employees and contractors more efficient and satisfied. Password reset avoids frustrating help desk calls.

Our IAM Solution

We have built a strong practice with field-tested methodologies based on standards and proven frameworks, for providing Identity and Access Management solutions aligning with the business requirements of different industry verticals. Our comprehensive IAM services effectively address the challenges of today’s fragmented identity landscape, using our competencies in the varied identity management tools; to build solutions that offer seamless access to resources, maintain user information integrity and confidentiality

Our product expertise in the identity management space includes certified skills in CA, RSA and ForgeRock. Engaging with Locuz for IAM is a value proposition because we offer end-to-end services from control objective setting to monitoring, to governance and risk management. Our comprehensive approach leverages the services and technology that have gained Locuz recognition as a security solutions thought leader.

Originally Published on Cymune Blog