In the grand scheme of things, limiting who can access critical information solves most of your security concerns - which is what a PAM framework puts in place effortlessly.
Privileged Access Management (PAM) helps protect sensitive information. It manages who can access high-level systems in your organization.
PAM can remove this risk almost completely and here’s how.
Why Is Privileged Access Management Critical?
Without it, security risks increase. Many cyberattacks target privileged accounts. PAM ensures these accounts are secure. This lowers the chance of a costly breach. Managing privileged access also helps you follow data laws. It reduces fines and keeps operations running smoothly.
Here’s the fact - over 32% of CIOs and security professionals feel that insider threats pose a very REAL risk for data breaches. Why? Well, put simply, human error, shadow data, and even just the level of opportunity for inside threats!
PAM uses role-based access control (RBAC) to manage permissions. Additionally, PAM solutions incorporate encryption protocols, multi-factor authentication (MFA), and API-based integrations for seamless connection with ERP systems like SAP and Workday.
1. Reduces the Risk of Security Breaches
The average cost of a data breach is $4.45 million. Hackers often target privileged accounts to gain access. PAM stops this by limiting who can use these accounts. Strong controls make it harder for attackers to break in. This reduces the chance of expensive breaches. Protecting privileged accounts is one of the best ways to secure your systems.
PAM uses session monitoring integrated with tools like CyberArk and Azure Sentinel to track user activity in real-time. It employs just-in-time (JIT) access to minimize exposure by granting temporary permissions. PAM also connects with SIEM systems like Splunk and QRadar to detect anomalies and prevent breaches in complex environments.
CIOs risk unexpected budget overruns addressing breaches that could have been prevented by implementing PAM in their cloud and on-premises infrastructures.
2. Prevents Insider Threats
Insider threats account for 65% of security issues. These threats come from employees, contractors, or partners. PAM helps prevent this by monitoring access. It tracks who is using sensitive accounts and when. This makes it easier to spot unusual activity. By controlling access, PAM stops insider threats before they cause harm.
PAM implements user behavior analytics (UBA) through platforms like Oracle Advanced Security and Microsoft Defender for Identity to detect anomalies. It uses data classification to limit access based on sensitivity levels. Detailed audit logs in PAM solutions like BeyondTrust integrate with ERP systems like NetSuite for comprehensive oversight.
CIOs face resource allocation challenges when insider threats aren't addressed early, leading to increased costs in response and recovery efforts, particularly in enterprise IT environments.
3. Prevents Compliance Fines
Many laws require strict data protection. Failing to follow these rules can result in fines. Some fines can cost millions of dollars. PAM helps you meet these requirements. It keeps a record of who accesses sensitive data. These logs prove you are following the rules. Using PAM can save money by avoiding fines.
PAM solutions support compliance frameworks like GDPR, HIPAA, and SOX. They include built-in reporting tools for audits and integrate with governance tools like SailPoint Identity Governance. PAM also connects with Oracle Cloud Infrastructure to enforce real-time compliance policies across hybrid environments.
CIOs may face financial penalties and reputational damage without robust PAM systems tailored to regulatory needs, especially in SaaS-based operations.
4. Stops Ransomware Attacks From Occurring
Ransomware often spreads through privileged accounts. Hackers use these accounts to control systems. PAM prevents this by limiting access. It also enforces strong passwords and regular updates. These measures make it harder for ransomware to succeed. Protecting privileged accounts helps stop attacks before they start.
PAM integrates with endpoint detection and response (EDR) tools like CrowdStrike Falcon and Microsoft Defender for Endpoint for enhanced protection. It uses secure credential vaults compatible with platforms like Azure Key Vault. PAM also enforces least privilege principles with automated workflows for granting and revoking access in environments like Google Workspace and Office 365.
CIOs risk productivity losses and inflated security expenses if ransomware attacks exploit unprotected privileged accounts across SaaS and cloud platforms.
5. Avoiding Intellectual Property Theft
Intellectual property is a valuable asset. It includes patents, designs, and trade secrets. Theft of this information can harm your business. PAM protects intellectual property by controlling who can access it. It ensures only trusted users can see sensitive data. This reduces the risk of theft and keeps your assets safe.
PAM leverages encryption algorithms like AES-256 to safeguard intellectual property stored in ERP systems like SAP. It includes access review workflows for applications like Salesforce to ensure permissions remain current. PAM also integrates with data loss prevention (DLP) solutions such as Symantec or Forcepoint to block unauthorized transfers.
CIOs often deal with increased legal fees and disrupted innovation pipelines when intellectual property theft occurs within enterprise environments.
6. Blocks Advanced Persistent Threats
Advanced Persistent Threats (APTs) are long-term cyberattacks. They target sensitive data and systems. APTs often focus on privileged accounts. PAM blocks these threats by limiting access and monitoring activity. It alerts you to unusual behavior, so you can act quickly. This stops APTs from gaining a foothold in your network.
PAM solutions feature continuous monitoring through integrations with orchestration tools like Palo Alto Cortex XSOAR and Splunk Phantom. They use machine learning to counter sophisticated attack patterns and integrate with VMware Tanzu for micro-segmentation. PAM also employs risk-based authentication using real-time analytics.
CIOs must allocate extensive budgets for incident response if APTs exploit vulnerabilities in enterprise applications or infrastructure.
7. Reduces Any Odds of Downtime Significantly
Downtime happens when systems are unavailable. It can cost money and damage your reputation. PAM helps reduce downtime by keeping systems secure. It prevents unauthorized changes that could cause failures. PAM also ensures only skilled users can access critical systems. This keeps operations running smoothly.
PAM uses automated provisioning tools like Ansible Tower and integrates with DevOps platforms like Jenkins for efficient system updates. It provides rollback options through versioning systems like GitHub. PAM tools also integrate with IT service management (ITSM) platforms like ServiceNow to streamline incident handling.
CIOs face operational delays and strained IT budgets when unplanned downtime disrupts business-critical systems.
8. Reduces Shadow IT Costs and Improves Efficiency
Shadow IT refers to unauthorized tools or systems. These can create security risks and increase costs. PAM reduces shadow IT by controlling access. It ensures employees use approved tools. This lowers costs and makes workflows more efficient. Managing privileged access keeps your IT environment organized.
PAM integrates with software asset management (SAM) tools like Flexera and Oracle Enterprise Manager for visibility into unauthorized resources. It provides centralized dashboards for access governance across cloud ecosystems like AWS and Google Cloud. PAM also uses APIs to automate repetitive tasks in ERP workflows like those in Workday.
CIOs struggle with ballooning costs and inconsistent IT governance without a strong PAM strategy to tackle shadow IT and unauthorized SaaS applications.
9. Lowers the Risks of Cloud Misconfigurations
Cloud systems are common in modern businesses. However, misconfigurations can lead to security risks. PAM helps prevent this by monitoring access to cloud systems. It ensures only authorized users can make changes. This lowers the chance of mistakes that could expose data. Protecting privileged accounts keeps your cloud environment secure.
PAM supports cloud-native security tools like AWS IAM, Azure Policy, and Oracle Cloud Guard. It uses policy-based controls with Infrastructure as Code (IaC) tools like Terraform to enforce best practices. PAM also includes automated scanning for configuration errors using platforms like Prisma Cloud or Check Point CloudGuard.
CIOs often face ballooning cloud expenses and reputational risks when misconfigurations remain unchecked in hybrid and multi-cloud environments.
Why Choose Infisign as Your PAM Solution?
Infisign as a PAM solution allows both flexibility and ease of use while keeping strict and tight control over your security. Infisign Suite is an IAM solution built on a zero-trust framework meaning that it constantly checks your user's authentication over set intervals.
Also, it comes with conditional access and adaptive MFA that add multiple hard-to-replicate layers of security keeping your database and tools safe. Worried about insider threats? Well, with managed password authentication - your employees get access without having visibility of your credentials.
With universal SSO, ZKP, passwordless authentication, and brute force protection, Infisign creates a reliable framework that you can try free of cost! Want to know more? Why not sign up for our 15-day free trial?
