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IAM Benefits Every Business Should Tap Into

What is IAM (Identity and Access Management)?
An IAM system is a comprehensive system that is designed to securely store and manage users’ identities and access rights. By using an IAM, you can ensure that only authorized users can access a given system and use the resources they have permission to use.

The IAM solutions that are commonly in use include multi-factor authentication (MFA), access management, and single sign-on (SSO). All three of these can be accessed via the cloud or a local server.

Why you need an IAM
Contemporary technology offerings mean that businesses can now operate extremely efficiently. For example, cloud technologies allow employees to work from anywhere in the world. However, while this brings many cost advantages, it also has associated security risks.
It is for this reason that you need to implement an advanced security system that can extend beyond the security of the physical network. That’s where IAM comes in, here are some of the benefits:

1) Centralize access control
An IAM allows you to create centralized policies by which access privileges are allocated and managed. For example, you may provide members of the accounting department with access to the accounting systems but deny the design team such privileges. This ensures users can only access the information and data they need to perform their roles.

2) Reduced risk of data breaches
IAM solutions, such as MFA and SSO, entail that employees no longer have to memorize multiple passwords. They can use evidence-based authorization to access systems. Furthermore, IAMs offer advanced encryption tools so that you can ensure sensitive data is protected.

3) Better regulatory controls
The regulatory requirements that impact businesses are evolving on a regular basis. IAM was designed to help businesses stay compliant by ensuring access rights and data security are strictly controlled.

4) Lower costs
By automating and streamlining many aspects of data management and system security, IAMs significantly reduce the costs involved with making your business environment secure.