Most business owners know that strong passwords are the keys to their most sensitive and protected data. The more people in your team capable of accessing this vital data, the more risk your company is exposed to. That’s because every individual with access is a new potential target for a cybercrime attack. Privileged Access Management, or PAM, helps companies to provide secure access to critical applications and data by addressing the password landscape.

PAM software can offer business leaders a secure vault for all of the passwords they need to use to protect the organization. Providing additional protection for your most sensitive data, these vaults provide passwords generated at random for the data that each user wants to access. This basically adds another bubble of defense to your business. 

Why are PAM Solutions A Good Idea?

Just like your email spam filter and your malware protection service, a privileged access management software solution gives you the opportunity to further secure your business against criminals. Depending on the software you choose, you should be able to decide whether you want to generate passwords at random or rotate a current set of password options. Because a new password is available every time someone needs to access your sensitive data, there’s extraordinarily little risk of someone guessing the right credentials. 

Most systems that offer this service also come with reporting tools that help business leaders to track potential issues that might have occurred with failed passwords in the past. PAM solutions can also work alongside your enterprise password manager to maintain IT and audit compliance in your company. You can record and report on password requests and transactions within your organization, and significantly reduce your chances of any issues. Some companies can even use PAM technology to provide access to trusted third parties when systems need to be updated or enhanced. This means you don’t have to provide crucial credentials to any outsiders. 

Defending Your Business Landscape

From protecting employee and non-employee access to crucial files, to detecting evidence of any access to your data, your PAM technology will form an essential part of your full security strategy. You’ll be able to see who’s been using the system, and avoid issues like privilege creep, when people gain unnecessary access to data and applications. This is a common problem in many organizations, particularly when employee exit strategies aren’t properly implemented. 

Just like your other tools for data security, PAM provides business leaders with more control over the way that people access and use data in a business landscape. The right software can reduce the risk of data breaches and prevent the misuse of data caused by malicious insiders. It can even protect your organization’s crucial assets in a time when the number of people requesting access from various landscapes is beginning to grow. Having a privileged password management may just be one component of a comprehensive security and privacy strategy, but it’s one that’s definitely worth paying close attention to. Is your organization delivering the right access to crucial information?

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