Standalone article

Return on Investment from a modern Privileged Access Management solution

Privileged Access Management (PAM) is an integral element of cyber security that involves overseeing and safeguarding privileged accounts and access. Organisations across industries are turning increasingly towards PAM solutions as they seek protection against a growing threat landscape that includes cyber attacks and data breaches. This article looks at ways organisations can maximise the return on investment from PAM by realising operational benefits while cutting costs.

Organisations may suffer considerable financial and reputational harm as the result of data breaches and cyber attacks, according to the Cost of a Data Breach report. A PAM solution offers one effective means of mitigating the risk of data breaches and cyber attacks while reducing the costs associated with incident response, remediation and damage to reputation or consumer trust.

Improve productivity and efficiency in operations

A PAM solution enables organisations to maximise operational productivity by automating and streamlining privileged access management duties. Password vaulting and rotation can be handled automatically, saving time and effort compared with performing the task manually. Workflows for access request approval also streamline the process, speeding up grants and revocations and reducing delays.

Meet regulatory and compliance requirements

Many compliance and regulatory requirements govern the administration and security of privileged accounts and access. By offering an integrated method for centralised management and monitoring of privileged access, a PAM solution helps organisations meet these regulations, maintain consumer trust and avoid fines for non compliance.

Manual account and access management can be expensive

Managing accounts and access by hand is time consuming and costly. Automating the task with a PAM solution reduces privileged account management expenses. Password vaulting and rotation capabilities cut the time and effort spent managing passwords for privileged accounts, and approval workflows reduce delays between access requests and decisions.

Use analytics and reporting to support better decisions

Advanced analytics and reporting features help organisations make more informed decisions about privileged access management. An analytics dashboard gives real time visibility into privileged access activity, helping teams identify security threats quickly and respond effectively, while reporting offers comprehensive insight for improving strategy and policy.

Integrate with additional security tools and systems

A PAM solution can integrate with additional security tools and systems to give organisations a comprehensive cyber security approach. Integration with SIEM systems helps organisations correlate privileged access activity with other security events and alerts, while integration with Identity and Access Management systems helps manage and protect privileged access across an IT environment.

Draw on provider expertise and support

Established providers of PAM solutions can help organisations protect privileged accounts and access. Organisations can maximise the return on their investment by using that expertise for implementation, configuration and administration, supported by a dedicated support team for any issues that arise.