Identity and Access management (IAM) solutions are security tools that ensure data can only be accessed by the right people at the right times. IAM solutions ensure that resources can only be accessed by authorised employees, meaning that businesses meet compliance regulations and mitigating the risk of damaging data loss. Just this week we have seen what can go wrong when businesses do not fully meet their compliance needs with BA recently being hit with a record breaking fine for data loss under GDPR.
This is increasingly crucial for businesses using cloud platforms, where sensitive data can increasingly be viewed and shared from any device. This means it’s integral to business security to have strong controls around who can access and share sensitive data. Organizations that develop and implement strong IAM greatly enhance their security and become more agile when developing new business initiatives. However, it can be a real challenge for business to improve their Identity and Access Management Strategy.
92% of Businesses Experience Identity Challenges
New research commissioned by LastPass surveyed 700 global IT and security professionals at organizations ranging from 250 to 2,999 employees and found that 92 per cent are experiencing at least one challenge when it comes to identity management. 42% of businesses explained the challenge as coming down to one issue: ease of use.
Data from the report reveals that 82% of IT professionals
agree that poor identity practices have exposed their businesses to risk, including
unauthorised access controls, loss of employee data and loss of customer data.
The Key Challenges Facing Businesses
The study also reveals additional findings around the
security of organizations:
Passwords Cause Frustration and Risk: IT teams continue to suffer with password related problems. Password problems cause significant disruption with businesses, with employees still struggling with password management. 95% of security professional agreed that organizations should place more emphasis on the importance of strong password behaviour.
Deploying Identity and Access Management Solutions: 65% of organizations report that over the next year upgrading their Identity and Access Management capabilities was a top – priority. Key features that organizations need are Multi-Factor Authentication, Password Management and a centralized admin dashboard.
Multi-Factor Authentication is Critical: 59% of professionals agree that having multi-factor authentication in place is critical. It can lead to fewer instances of incorrect access to confidential information and decreased risk of credential theft.
Ease of Use and Security is hugely important: 47% of respondents said that balancing ease of use with password management and multi-factor authentication was a hurdle. 37% report that employees demand to use solutions that are easy to use.
How Businesses can Improve Identity and Access Management
There are a range of solutions available for businesses to
improve their IAM solutions. Organizations need to ensure that their Identity
and Access Management include these key features. Many solutions will combine
these features into one unified solution, to cover all Identity and Access management
Multi – Factor Authentication Software: Multi-Factor Authentication (MFA) Software means that users must verify their identity with multiple levels of verification before they can access sensitive information. A good MFA solution allows users to easily access low-level or public information, while allowing admins to put more complex restrictions in place for the most highly sensitive information. These may include text message validation, security questions and even biometric security such as finger prints to ensure only authorised personnel can access sensitive data.
Business Password Management: Business Password Managers help employees to remember passwords and simplify logins. Password Managers allow admins to enforce password updates for employees and set minimum complexities on password lengths. They make life easier for employees, helping them to manage multi-factor authentication with more secure passwords.
Privileged Access Management Console: These solutions allow admins to control employee access to sensitive information and systems. They should be easy to use and allow admins to easily carry out routine management tasks. They should support a wide variety of cloud and apps, allow admins to change user accounts and permissions for different teams in bulk, and allow users to set and change passwords without needing IT departments to help.
Single Sign-On: With SSO software, users can log-in with one set of
credentials to gain access to multiple applications. This saves time and makes
life easier for users without compromising on security. Managing one account rather
than multiple others also makes life easier for IT admins.
Dealing with the Security Challenge
Businesses having solutions to cover these different needs are crucial for businesses to meet the challenges posed by Identity and Access Management. When used individually they all bring strong security benefits to businesses, and together they can offer complete security and visibility into end user controls.
For more information about Business Password Management you can read verified user reviews of the top solutions here:
Top Business Password Management Solutions