Benefits of Identity-based Access Control
Identity-based Access Control, also known as IAM (Identity and Access Management), is an important framework that manages digital identities security discipline. The primary objective of such a framework is to authenticate identities and authorise (or de-authorise) access to any important resource or action.
There are some fundamental components that an IAM system works on. These are the security policies that organisations define and impose to extend or restrict access over to personnel within or outside the group. These components are defined as:
- Protection of sensitive information and other areas within an organisation
- Identifications of users and roles they are assigned
- Management of the level of access and controls that individual users get over the data, information and the overall system
- Management of database of users, adding or removing them from the system
- Allowing or revoking the right to access or roles allocated to users
Common Systems Used for Identity-based Access Controls
- Single Sign-on
SSO is a basic form of Identity and Access Management and enforces authentication just once. After accepting the credentials of the users, the system grants access to all software, data, and information at once.
- Multi-factor Authentication
This type of authentication is a lot more advance and safer alternative to SSO. It has multiple layers of security and access is granted after successful authentication of all of them. The layers include:
- Security token
- Biometric (Fingerprint)
What this does is protects organisations from brute force attacks by securing data and assets in multi-dimensional layers. To provide a context about such significance, there were reports of 3.3 billion brute force attacks within a span of 10 months between March 2020 and December 2020.
- Privileged Access Management
This form of IAM performs role-based security and authentication. It provides limited access or control to software and data, as pre-defined based on the job role.
Why Business Organisations Should Use Identity-based Access Controls
By now, you might already be aware of what IAM is. However, the entire concept of why IT businesses need the framework will be clearer once you take a look at the benefits of such identity-based access controls.
To begin with, the total IAM industry sized up to around USD 12.3 billion in 2020. Moreover, according to MarketsandMarkets, the market size is projected to reach USD 24.1 billion in 2021.
- Improves Company-wide Security
The IAM system enables admins and relevant officers to enforce security policies across the various database and assets the company may have. These include applications, devices, and platforms. This enforced authentication and access control make it easier for admins and IT teams to identify any violations in security and monitor access privileges closely.
Apart from just this, modern-day IAM frameworks are built on intelligent technologies to tone down human interference and errors as much as possible. This is done with the incorporation of artificial intelligence that uses its identity analytics to identify and blocks any anomalous activities.
Maintain Regulatory Compliance
There are many regulatory commissions that mandate data security and privacy protection, like the HIPAA, Sarbanes-Oxley Act, and the GDPR. An IAM framework helps businesses to comply with such mandates and verify their data protection endeavours.
Apart from this, an IAM framework is also handy during compliance audits, where it helps the IT teams prove that the corporate information and data are protected with ample controls.
Improves Efficiency of IT Security Teams
An identity-based access control framework makes the job of IT teams easy. The framework is built in a way to help make the security system more effective and efficient. The access can be granted to various users based on pre-defined roles.
This increases the efficiency of the process by bringing down the risks of granting access to the wrong people and also cuts down the number of times the onboarding and offboarding processes are executed.
Solves Password Problems
Passwords have become a development of yesterdays. An IAM system can ease the security process and ensuring that productivity is not compromised. One of the many reasons behind data breaches is using simple passwords or sticking them on the desktop or Notepad.
However, an IAM framework incorporates the best practices, like frequency reminders to update the password, minimum character requirements, and other authentication methods, like biometrics, etc.
Eases Hassle for End Users
An IAM system allows organisations to manage log-ins and accounts automatically. So, in the case of contractors, employees, vendors, and customers, the system allows logging into a pre-defined degree of access from any part of the world as long as credentials match.
Also, rather than managing tens and hundreds of user accounts manually, the IAM system automates everything, be it allowing access to monitoring for any anomalies.
Reduces Cost of Running the Management and IT
A major chunk of calls made to the help desk of any organisation is for password resets. According to the financial records of any organisation, there is a considerable amount of funds allocated for this. However, since an IAM can simplify the management of security and access controls, it brings down the manual cost involved. All password resets, detection of anomalies, and other access based tasks are automated.
What the Future of IAM Looks Like
Since the Identity and Access Management framework has the attention of industry leaders and cybersecurity professionals across the globe, the market estimation and projections are scaled up high. In fact, according to a report made by the Identity Management Institute, the Asia-Pacific region is and will experience the steepest upward curve.
What the IAM excels in is not only preventing data breaches but bringing the security cost for organisations down by consolidating user accounts under single identities. This sustained growth includes both on-premise as well as cloud solutions.
Talk to an Expert Today!
Keeping in mind the dire need for advanced digital security, InstaSafe provides multiple solutions to keep your organisational data secure without compromise.
InstaSafe’s Zero Trust Application Access and Zero Trust Network Access combine the benefits of IAM to bring you the utmost security of digital assets, communications and data. So don’t wait up, implement organisation security with InstaSafe’s network and cloud solutions at the earliest.