Privileged Access Management- a new way to access management

According to a recent article in Harvard Business Review, Privileged Access Management (PAM) is emerging as a new and more effective way to manage access to critical systems and data. PAM solutions use advanced techniques like multi-factor authentication and real-time monitoring to ensure that only authorized users can access privileged accounts and systems. This approach can help organizations reduce the risk of security breaches and minimize the impact of any breaches that do occur.

In addition, PAM solutions can also help organizations comply with various regulatory requirements, such as the General Data Protection Regulation (GDPR) and the Payment Card Industry Data Security Standard (PCI DSS). As organizations seek to improve their security postures and manage access to critical assets more effectively, PAM will likely become an increasingly important component of their security strategies.

 How Does Privileged Access Management Work?    

Privileged Access Management, as previously noted, combines people, procedures, and technology. To install a PAM solution, it is necessary first to determine which accounts have privileged access. The company must then choose the policies that will be applied to these accounts. For instance, they may specify that the password must be changed each time a user uses a service account’s saved credentials.

Another illustration would be making all system administrators use Multi-Factor Authentication (MFA). The business may also follow another policy: maintain a complete log of all privileged sessions. Each procedure needs to be in line with a specific risk. For instance, requiring password changes for service accounts reduces the danger of an insider attack. Security administrators may also see any irregularities by keeping a log of all privileged sessions, and requiring MFA is a tried-and-tested way to stop password-related attacks. 

 Requirements for Privileged Access Management 

A Privileged Access Management system has to be able to handle an organization’s PAM policies. An enterprise PAM often includes automated password management features such as a vault, auto-rotation, auto-generation, and an approval procedure. It should allow administrators to impose multi-factor authentication in addition to these password management features. 

The ability to manage privileged account lifecycles should be a feature of an enterprise-grade Privileged Access Management solution. In other words, it must enable administrators to automate account creation, modification, and deletion. Last but not least, a PAM solution needs to offer reliable monitoring and reporting. It must provide real-time visibility and automatic alerting since security administrators must monitor privileged sessions and look into any irregularities. 

PAM regulates essential elements of safe access and makes it easier to provide administrator user accounts, grant enhanced access capabilities, and set up cloud applications. PAM lessens an organization’s attack surface across networks, servers, and identities in terms of IT security. Additionally, it reduces the likelihood that internal and external cybersecurity risks would cause data breaches. For more insightful blogs, visit auxin.io