6 Reasons Access Management Has Become a Critical Part of Cybersecurity
Cybersecurity has become paramount for businesses and individuals alike. Cyber threats abound, and data breaches and malware attacks are costly. Attacks come from all sectors, including the cloud tools you use every day. The average employee uses 36 cloud-based services daily. Managing access to sensitive data and resources has become crucial. It’s a vital piece to maintaining robust security. One breached account in a business app can lead to significant consequences. Login credentials are lucrative for hackers. Various online accounts can be a goldmine on the dark web. For example, an email administrator login can fetch between $500 to $140,000. You need to ensure you’re addressing access management in your cybersecurity strategy. Otherwise, you could suffer serious financial consequences. Not to mention the loss of reputation that comes with a data breach. We’ll look at six reasons access management has become essential to good data security. It plays a pivotal role in safeguarding valuable assets and ensuring data integrity.
Why Identity & Access Management (IAM) Should Be a High Priority
Mitigating Insider ThreatsInsider threats can result from malicious actions or unintentional errors. They can come from employees within an organization or their breached accounts. IAM solutions enable businesses to install granular access controls and permissions. This ensures that employees have access only to the data necessary for their roles. By minimizing excessive privileges organizations can reduce insider threats. Access management also provides visibility into user activities. It enables businesses to detect and respond to suspicious behavior in real-time.
Strengthening Data ProtectionData breaches can have severe consequences for businesses. They can lead to things like:
- Reputational damage
- Financial losses
- Regulatory penalties
- Permanent closure for those that can’t recover
Enhancing Regulatory ComplianceCompliance with data privacy laws is a top priority for many organizations. IAM solutions play a vital role in ensuring regulatory compliance. They provide necessary controls and audit trails. IAM tools also help companies adopt best practices, such as:
- Role-based access control (RBAC)
- Least privilege principles
- Contextual multi-factor authentication
Streamlining User Provisioning and DeprovisioningManaging user accounts and access privileges manually can be a time-consuming process. It’s also prone to human error. Just one miskeyed entry can increase the risk of an account breach. Access management solutions automate user provisioning and de-provisioning. This ensures that employees have appropriate access rights throughout their employment lifecycle. When an employee joins an organization, access management simplifies the onboarding process. It quickly provisions the necessary user accounts and permissions based on their role. When an employee leaves the organization, IAM tools ensure prompt de-provisioning of accounts. As well as the revoking of access rights. This reduces the risks of dormant or unauthorized accounts. Remember the big data breach at Colonial Pipeline a few years back? The breach originated from an old unused business VPN account. One that had never been de-provisioned properly. Streamlining user provisioning and de-provisioning enhances security and improves operational efficiency.
Enabling Secure Remote AccessTwo things have largely changed the look of the traditional “office” in the last decade. These are the rise of remote work and the increasing reliance on cloud services. This change makes secure remote access vital for organizations. IAM solutions provide secure authentication and authorization mechanisms for remote users. This enables them to access corporate resources and data securely. IAM is there whether employees are working from home, traveling, or accessing data via mobile. Access management ensures that they can do so without compromising security. It includes features like:
- Virtual private networks (VPNs)
- Single sign-on (SSO)
- Multi-factor authentication (MFA)