Privileged access management (PAM) is a growing challenge for many organizations, with the rise of mobile endpoints and cloud devices creating an identity and permissions nightmare across the industry.
Joining the podcast to break down the problem of privileged access security gaps are Dustin Hoff, IBM Security partner and global head of Identity and Access Management (IAM) Services, and Bert Vanspauwen, IAM competency leader Europe at IBM Security.
3 Key Concerns About Switching to Privileged Access Management
According to Hoff, 54 percent of organizations still use paper- or Excel-based processes to manage credentials. What’s stopping them from updating these systems? As Vanspauwen notes, companies considering a shift have three key concerns about privileged access management tools:
- Insider threats — With 80 percent of attacks leveraging privileged credentials, are employees using access appropriately and securely?
- Meeting new regulations — Do current access policies comply with industry standards and government regulations?
- Increasing operational efficiency — Can PAM solutions streamline access and reduce wasted time?
What’s Behind the Rising Potential of PAM?
Hoff and Vanspauwen also emphasize the potential of PAM solutions. The PAM market is set to reach $3.5 billion with a 20–30 percent compound annual growth rate (CAGR) over the next few years. So what’s driving corporate interest?
Vanspauwen points to five areas of importance:
- Generating visibility into access gaps.
- Securing user credentials.
- Detecting unauthorized access.
- Empowering companies to take action.
- Tools to help organizations recover after a breach.
But, as Hoff points out, a PAM technology solution in isolation isn’t enough; although it checks the boxes, it won’t solve the larger problem of access control and management.
Consider PAMaaS Alternatives for Quick Deployment
Privileged access management-as-a-service (PAMaaS) offers a way for enterprises to onboard access management tools that address security challenges and align with larger business goals. According to Vanspauwen, opting for PAMaaS lets companies quickly deploy foundational capabilities and rack up quick wins for early momentum while enhancing operational efficiency.
This alternative also offers dynamic PAM deployments capable of meeting emerging business concerns, such as using shared social media account login details to manage corporate brand accounts. Without effective oversight, these high-impact accounts could be easily compromised by former employees, disgruntled staff members or well-meaning users who simply make mistakes.
IBM is currently working across industries to implement PAMaaS solutions, ensuring that users have the access they need to do their jobs and organizations have the oversight they require to limit risk.
To learn more, sign up for the Oct. 16 webinar, “Privileged Account Attacks – Are You Ready?”
Subscribe to the podcast today to ensure that you never miss an episode. Please also consider rating the podcast and leaving feedback on iTunes or wherever you consume your favorite media.