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Due to the rising cases of security breaches where people lose their privileged credentials that are used for malicious purposes, there has been the introduction of privileged access management. This is a system that secures user accounts of critical resources with organizations to keep away cybercriminals. Most securities breaches are usually targeted to these privileged accounts because they contain sensitive information. Privileged accounts give certain people within an organization access to critical information that is required for specific business functions and processes. Privileged access management system provides the following benefits:
1. Keeps away hackers
Most hackers and cybercriminals target privileged accounts to obtain sensitive data. In other cases, ex-employees can also try to access this information for malicious reasons like committing breaches. With the use of privileged access management, companies can easily lower the risk associated with security breaches. These privileged access management systems store all the sensitive information in a secure repository. It also gives the administrators the chance to customize various aspects for user access, including time limits.
2. Enhances controlled access
Since privileged accounts are handled explicitly by certain people within an organization, having a privileged access management system will help control who gets what information from the systems. It’s also easier to determine if the right person has accessed the information in the accounts, especially if there are changes in roles or new employees within an organization. Additionally, it also provides real time monitoring of sessions and activities that the user does.
3. No sharing of credentials
Most organizations don’t know the risk of administrators sharing credentials when accessing privileged accounts. Although sometimes sharing credentials brings convenience and reduces time wastage, it’s very risky from a security perspective. When people share credentials, it becomes difficult to determine the activity done by each person. This is a risk because, in case of a security breach, it may not be clear who is responsible. After all, similar credentials were used by a number of people. A privileged access management system can help reduce these risks since it provides everyone responsible for accessing the information with unique login details with strong passwords that can’t be manipulated.
4. Centralized access
Some companies have been using different access points for their privileged accounts, which is very risky. Apart from this, it also makes it difficult for the management to monitor each access from all departments accurately. A privileged access management system assists in managing all accounts within an organization centrally. Having centralized access makes it easier for management to monitor access to critical business data, thereby increasing efficiency.
In conclusion, these are the top benefits of privileged access management. It also helps in ensuring compliance with the set standards to avoid legal battles and paying hefty penalties that can affect the company’s profits. It also requires little time for its implementation. Companies will not have to change their work processes to accommodate it, thus saving their valuable time. Its impact can be felt right away after implementation since it does not change anything.