5 Reasons Why Identity and Access Management Matters Even More Than We Think

The world as we know it has become almost completely digitalized with new forms of technology and technological advancements discovered daily. Along with these advancements comes a need to properly collect, collate and store identity information in a secure manner. This need is prevalent in organizations of all forms and sizes.

The above need is what is known as Identity and Access Management (IAM) and can be defined succinctly as the set of processes, data (information) and technology required for managing and using digital identities. Tools required for Identity and Access Management include the likes of single sign-on,  multi-factor authentication and profile management.

Single Sign-On ensures that users are permitted to use one set of login credentials in order to access numerous systems and applications, thereby giving them ease of access between systems.

Multi-factor authentication (MFA) makes use of general information about a user, or sometimes, a ‘One Time PIN’.

Profile Management works best for organizations who intend to ensure that their client/customer database is up to date and easily verifiable.

 

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The importance of IAM should not be underestimated, and here are a few of the benefits to show us why: 

Easy access anywhere, anytime

In this digital age, people need their identities more often than not to enjoy certain services and resources without limits. IAM makes it possible for authorized individuals to gain secure access to platforms using their verified proof of ID from anywhere and at any time.

Enhanced productivity

IAM automates the entry of new personnel and facilitates access to all components of the system on which the company operates. This allows reduced delivery times when it comes to access so that operation is not delayed. IAM standardizes and even digitizes the most crucial aspects of managing identities, authentication and authorization, and this would save a firm a lot of time and money

Better knowledge/information sharing

IAM systems can facilitate collaboration and knowledge/information sharing among business units and applications. Enabled knowledge/information sharing will ensure better functionality, shared calendars, shared data, and integrated contact lists. The IAM system will also greatly improve user access, and ensure federated access to external systems. Through the utilization of authentication standards set by the organization, the IAM system will allow information sharing about user identity to grant access to resources. All these can provide the organization with a competitive advantage over competitors that can’t offer an equivalent level of ease and expediency; enticing customers, employees and related parties to collaborate with the organization.

Ensured Brand security and regulatory compliance

There will be no risk of security breach irrespective of whether a connection is made from multiple identity providers. IAM enables strong authentication to keep your organization safe and secure. Detailed confirmation of all identities entering the system is performed, in addition to allowing various licenses to limit access levels. At the same time, it observes through analysis, fraud detection and alert functions that indicate a possible real risk. IAM ensures that online information and credentials are properly collected and managed, helping organizations meet industry compliance guidelines and requirements.

UX optimization

Remembering so many usernames and passwords to access social networks, banking apps and other services on the Internet can be a challenge for people. Thanks to IAM, people can get one identity that provides access to numerous systems.

 

In short, IAM is a reliable system that employs technology to support digital transformation. Software that provides agility, security and satisfaction to a company’s customers. Imagine a world where sensitive personal data is completely secure from system hacks and breaches. We’re not quite there yet but with Identity and Access Management, we’re not too far off from Technology Nirvana.
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About the author: Eddy Okaro is a driven and passionate writer.  For 3 years, he has been a content contributor on various topics; with technology being at the forefront of his interests. His vast knowledge on diverse subject-matters puts him in the spotlight as the go-to source for prolific content.

 

 

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