5 Reasons Your Company Needs Identity and Access Management

identity and access management productsBefore we take a detailed look at the issues surrounding identity and access management (IAM), let us first understand what it is. This is a highly technical issue. However, it can ordinarily be defined as a computerized security discipline, which is structured to offer access to confidential resources to appropriate personnel at suitable times, for official or business purposes. There are a number of reasons to use a foolproof identity and access management system. Let us discuss at least 5 of them.

Increasing the number of users in a safe way
The number of customers can make a huge difference in income. The term, ‘customers’, may differ in form and identity, depending on the nature of the business. For example, Singapore has seen a rise in some B2C and B2B businesses as of late. These businesses always need a fair influx of users into their domains to maximise their profit. It is here where the question of safety and security comes into play, and so does the question of identity and access management. The latter ensures that only the right people have access to sensitive data and information.

Incorporation of unique access methods
Along with incorporation of a proper access management technique, businesses can reconfigure their onboarding processes so that prospective customers can realize the true value of their products. In addition to this, they can protect sensitive data from unscrupulous elements. Some of the techniques include various easy-to-use options like single sign-in and social login, which are safe and well-accepted. In fact, statistics show that a number of Singapore Companies have been able to increase their customer base by 20 percent on average after incorporating a foolproof identity and access management.

Safeguarding confidential data
One of the main purposes of identity and access management is to safeguard the confidential data of businesses. Foolproof access management facilitates the consolidation of functionalities such as authorisation and authentication on a common platform. When that happens, it provides concerned professionals with the leverage of using a uniform method, when it comes managing the user access. For instance, whenever a user quits a company, the IT professional may annul that person’s access to the centralised identity and access management solution. As soon as that’s done, the change immediately takes effect on all the domains, thereby securing the system and negating the chance of data pilferage (if any) by that individual.

Lesser time and security costs
An integrated IAM or identity and access management system is developed to take care of multiple user access and allow the administration to carry out their responsibilities more efficiently. Besides, the IAM platform is flexible enough to integrate multiple upfront working platforms, dedicated to the same management. It understandably reduces both money and time.

Improved access to resources
Whenever users gain access to the resources through a common and centralised identity and access management platform, they can enjoy SSO or Single Sign-in technology. This puts a restriction on how many times they can interact with the security system. Naturally, this increases the chances of genuine attempts that the users make to access the resources. For instance, when a user knows that entering a wrong password thrice will lock the system for 48 hours, the person will be extra cautious.