Here’s Why More Businesses Are Investing In Identity Access Management (IAM) Suites!
‘GDPR Compliance’ – That’s a critical term for many businesses in EU. Keeping up with GDPR requirements is not a choice. These requirements include sending notifications to authorities within 72 hours of a security breach. If non-compliance is found to be a valid reason for data theft, or similar breaches, businesses may have to pay hefty fines, often as much as 4% of the global turnover in EUR. Businesses need to understand that GDPR merely states that privacy data has to be protected, for which necessary policies and practices must be adopted. What is often ignored is IdM security.
Identity Access Management (IAM), simply called IdM or identity management, is a specific discipline that deals with managing digital identities. More companies are willing to invest in IAM, because it just helps them have transparency with regards to access rights.
The complex IT environments
Businesses are constantly collecting data, often without the clear intention of storing it for a specific reason. Privacy data is sensitive, and some of the biggest corporate giants have suffered the consequences of data breaches. A large number of these breaches can be traced back to internal sources. Your frontline employees, managers, privilege account users and executives have access to numerous apps, resources and systems that contain critical data. Any breach, either deliberate or accidental, can cause massive damage to the business repute. IT environments are complex in nature, more so because applications and data are being stored in cloud and local networks, which may reduce load and costs, but increases cybersecurity risks.
How do Identity Access Management (IAM) tools help?
With Identity Access Management (IAM), businesses can have a clear setup of access rights. Rights will be granted to only those who need it, and these rights can be updated, created, revoked, changed, and added, as required. IAM tools are designed to simplify the process of managing access rights. It will be much easier for organizations to keep a watch on various digital identities, and as more employees join, are promoted or leave the business, their access rights can be modified as required. IAM tools can automate certain access rights and steps, while others can be manually monitored, but it becomes super easy for the organization to detect and prevent breaches, in time, so that corrective and preventive action can be taken.
Check online now for IAM suites, figure out the features, and find more on deployment.