Top Enterprise Security Challenges That Identity and Access Management (IAM) Solves in 2023

Marketing Team Cloud Security Expert - CloudCodes Software
  • September 10th, 2021

Most of the enterprises have shifted all their data computing, and processing works in the cloud. The enterprise security challenges and threats are growing, and infrastructure is not in pace with the growing demands of implementing security measures in place. Cloud Security is gaining more prominence, and IT companies are spending more on securing their data from data breaches and unauthorized access. 

Some Reports And Facts About Security Challenges & Concerns

Here take a look at some reports and facts about the security concern of IT companies: 

  • As per the latest data released by the Society-for-Information-Management, alignment with 42% is the top concern of IT leaders while data security comes a close second with 36%, and this is astonishing, given the fact that four years back, data security occupied the ninth position. 
  • As per another survey by Piper Jaffray, most CIOs ranked security as their top spending category at almost 82%. 
  • IT security spending will increase to $101 billion next year and will touch $170 billion by 2020, as reported in Investor’s-Business-Daily. 

And when it comes to the matter of security approach, organizations seemingly are inclined to achieve more reliable security through Identity and Access Management (IAM). An interesting fact here is that IAM has now overtaken firewall spending and moved into the top five security spending categories.  

So IAM is becoming the new perimeter for data security, and that is a good reason enough for us to sit and take notice. The most popular IT companies that are at the forefront of the technology revolution in the world have figured out that they need to adopt a completely different approach where security is concerned- one where identity is the fulcrum of their security infrastructure.  

Core Enterprise Security Challenges That IAM Solves

IAM solves four core enterprise security challenges, which are as follows: 

  • Applications and users outside the perimeter: Devices have gone mobile, and applications have moved to the cloud. With an increase in the trend of BYOD, perimeter-based technologies such as firewalls and VPNs aren’t sufficient to secure the data. 
  • Password reliance: Compromised credentials are becoming the top reason for causes of breaches every year as per the Verizon-Data-Breach-Investigation-Report. What is needed is some robust security protocol in the form of IAM like multi-factor authentication (MAF) and federated single sign-on (SSO) to reduce that risk. 
  • Data not being stored in fit-for-purpose directories: The technologies needed to store consumer identities are not designed for modern standards and regulations. Thus, a massive update concerning security is required so that there is no breach. Here, identity security comes into the picture with sensitive data being secured by end-to-end encryption at capture, transit, storage, backup, replication, and so on.
  • Partner identity management with a focus on de-provisioning: Many IT companies need to house and manage partner identities and store IDs and passwords for each of the partner employees. But what happens when the partner terminates the contract and leaves, and if he goes to a potential competitor, then what about the IDs and passwords? Then the company needs to invest in resurrecting the outdated technology as this poses a high-security risk and a lot of overhead. Here Identity Management plays a vital role in providing new users access and removing the entrance when they depart commonly referred to as provisioning and de-provisioning. 

Identity and Access Management (IAM) is explicitly designed for enterprise security challenges. Implementing it can improve productivity and security and rapidly connect apps while lowering administrative overheads. Enterprises looking for more control may want to manage things themselves, but they must work in tandem with cloud service providers to have better data security. With the implementation of IAM solutions, organizations can be empowered to rapidly connect new applications and give them access to the right people seamlessly and securely.