Why Access Management is Essential to Data Security
Cybersecurity has become paramount for businesses and individuals alike. Access management has become essential to good data security.
Attacks come from all vectors, including the cloud tools you use every day. The average employee uses 36 cloud-based service’s 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.
Cyber threats abound, and data breaches and malware attacks are costly. VirtueUK was recently engaged to lead recovery efforts for a client following a ransomware breach. In this situation, we were not only able to aid in their recovery, but also used the unavoidable disruption caused by their breach as an opportunity to catapult their business forward 12-18 months in planned project activity. When life gives you lemons…
However, this is not typical. We were able to do this because we had already been working with the client to develop a strategic IT roadmap and were familiar with their environment following several IT Infrastructure engagements. Most businesses, however, do not get this sort of transformative value-add – just a cyber recovery bill.
To prevent suffering the serious financial consequences (not to mention loss of reputation) that comes with a data breach, it is vital to ensure your cybersecurity strategy addresses access management.
We’ll look at six reasons why access management has become essential to good data security:
Why Identity & Access Management (IAM) Should Be a High Priority
Mitigating Insider Threats
By minimizing excessive privileges, organizations can reduce insider threats. Access management also provides visibility into user activities and enables businesses to detect and respond to suspicious behaviour in real time.
Strengthening Data Protection
Data breaches can have severe consequences for businesses. They can lead to things like reputational damage and/or financial losses.
Effective access management helps strengthen data protection. It does this by limiting access to sensitive information as well as enforcing strong authentication measures. Access management solutions also enable organizations to track and control data transfers. This helps ensure that data remains secure throughout its lifecycle.
Enhancing Regulatory Compliance
Compliance with data privacy laws is a top priority for many organizations. Using access management, businesses can show compliance with regulatory requirements. Identity and Access Management (IAM) solutions also help with regular access reviews. They enable organizations to maintain an accurate record of user access and permissions. This is essential for regulatory audits and assessments.
Streamlining User Provisioning and Deprovisioning
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. Streamlining user provisioning and de-provisioning enhances security and improves operational efficiency.
Enabling Secure Remote Access
Two 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.
Improving Productivity
Imagine how much time your HR or IT team spends provisioning user accounts. It can take a significant amount of time to add all those login credentials. Not to mention deciding on user access permissions in each tool.
IAM systems automate this process. Using role-based access protocols, they can immediately assign the right level of access. If an employee leaves, the system can also immediately revoke access. This saves your administrative team considerable time and effort.
Transform your Identity and Access Management System Today
Access management has evolved into a critical component of cybersecurity. It helps mitigate insider threats, strengthen data protection, enhance regulatory compliance, and more. But it doesn’t just happen, and it isn’t done in a silo. The underpinning role-based access protocols need to be established before they can be implemented, and this requires collaboration between HR, IT and Operations.
Don’t know where to start? Let VirtueUK help lead your business through the development of an IAM system that works for you.
Contact us today to discuss how we can help you assess and improve your access management and data security.