Identity and access management (IAM) is often approached tactically, as a means of giving users access to resources while minimizing IT operational overhead. The threat mitigation and risk management aspects of IAM are not prioritized, leaving gaps in the organization’s security strategy.
Cybersecurity spending, which IDC says will reach $81.7 billion this year, remains heavily weighted toward network security hardware and software. Organizations continue to focus on perimeter defenses even though the cloud, mobile and the Internet of Things (IoT) have all but erased the network boundary. Security often depends solely on simple username and password combinations.
In order to protect their systems and data, organizations need to ensure that only authorized users have the right access to the right resources at the right time. However, a recent Forrester study found that 83 percent of organizations do not have a mature approach to IAM, resulting in a greater number of breaches and millions more in costs. A more mature approach to IAM showed a direct correlation to reduced security risk and lower financial loss.
Other findings from the Forrester survey of more than 200 enterprise IT security decision-makers in charge of IAM:
New research from Enterprise Strategy Group suggests that organizations are seeking to up their IAM game. When asked about their IAM strategies over the next two years, 23 percent of IT professionals said they would involve the security group in IAM decision-making, while 20 percent said they would add IAM experts to the security team. In addition, 29 percent said they planned to monitor insider threats and compromised accounts, and 26 percent said they were planning to implement multifactor authentication.
Organizations spend billions on security, yet they are being breached at an alarming rate. The Forrester study found that two-thirds of organizations experienced an average of five or more security breaches in the past two years, and hackers compromised more than 1 billion identities in 2016 alone. Let the experts at Clango help you reduce these threats through a more mature approach to IAM.
For more information about IAM, please send us an email at (firstname.lastname@example.org).