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For instance, gone are the days when business deals had to be closed physically because nowadays that is done online. Again, gone are the days where one had to go to the store physically to purchase their favorite items because that is now possible at the touch of a button and you can now get your favorite pizza delivered right to your doorstep. In short, technology is revolutionizing everything and making things more straightforward. Nonetheless, as businesses embrace this new era, it is also essential that they keep privacy and security in mind and that is where identity and access management come in. Read on to find out what they are and why they are of the essence in today's business world.

What is Identity access management solutions?

Before we dive in deep into the details, it is essential that you grasp the meaning of this much-hyped form of technology. Also known as IAM, an identity access management solution is a framework or a system meant for businesses to secure, manage and store user identities and access privileges. In other words, IAM is a system that companies should set up to ensure that users are who they say they are before getting access to various business applications and platforms. It achieves that by creating a single digital entity or digital ID for each user and once established, it grants them privileges to access particular business resources securely without leaking confidential information to the outsiders. Additionally, it gives IT managers a more relaxed time as they can now control access to sensitive data. It uses systems such as single sign-on (SSO) and multi-factor authentication (MFA).

What kind of businesses should make use of IAM?

IAM is for any business which wants to secure its operations and at the same time make things easy for employees, clientele, and also partners. However, it is more suitable for a business which is experiencing tremendous growth. Reason being, as an organization grows, so does its workforce and also information database. That often results in its division in different departments so it can effectively meet its goals. Nevertheless, the bigger the database, the easier it becomes a target for cyber-attacks and leakage of confidential information. Therefore in respect to that, such businesses should embrace IAM as it gives each user controlled privileges and at the same time makes things easy for them as they can access various resources through SSO. Below are some more reasons why it is essential for a business to embrace IAM.

Centralises access control

As mentioned earlier, the bigger the business, the larger its database. That means giving employees access to all resources can be quite risky. Fortunately, that is no longer necessary as IAM makes it possible for them to access the resources that they need only. For instance, an employee working in the customer communication department does not require access to the accounting department. Through IAM they get access to customer communication resources and nothing more. That not only makes things less complicated for them but also ensures the security of the firm's accounting data.

Reduces costs

In the past, businesses had to create several IT departments to help ensure the security of their companies, but that is no longer necessary. IAM automates and standardizes various aspects such that you don't have to employ a whole bunch of IT gurus to control what employees, partners, and customers can access. That reduces labor costs significantly.

Boosts the user experience

Through solutions such as SSO, employees, clients, and partners get a single digital identity which means they do not have to worry about usernames and passwords. Signing in once using their digital identity opens up all the platforms they require without having to sign in again. That makes things smooth sailing for everyone who is part of the organization.

Secures your business

Thanks to IAM solution such as Multi-factor authentication, companies can now confirm that the digital identity of every user is verified. That means anyone whose ID is not approved cannot access applications and resources in your firm. Additionally, if an employee whose ID grants them access to the design department tries to access the accounts department, IAM will alert the IT manager. Thus IAM secures all aspects of your company and prevents things like fraud or a data breach.

Other reasons why it's important

- It offers secure remote access to on-premises applications and resources.

- Gives protection to identities by enforcing risk-based access policies.

- It increases security awareness among all organizational entities.

- Helps a business achieve regulatory compliance.

Conclusion

In a nutshell, IAM brings with it a long string of benefits which may take us days to touch on, but the above are the basic and the essential ones. Nonetheless, the main reason why IAM is vital is that it enhances the security of business and at the same time provides a good user experience.