Table of Contents
Privileged Access Management (PAM) is a combination of essential security tools and techniques designed specifically for organizations that need to protect sensitive data, critical systems, and applications across a computing network.
It is particularly important for businesses heavily reliant on large amounts of sensitive and confidential information, with several active users within its IT ecosystem.
PAM is designed to limit the risk of data breaches, insider threats, and cyber attacks by managing and controlling access to privileged accounts.
It involves identifying and managing all privileged accounts, such as administrator accounts, service accounts, and application accounts, and enforcing strict controls around their access.
Organizations that have employees or contractors with access to sensitive information or critical systems need PAM systems to protect against data breaches and prevent vulnerabilities in data distribution. Here are a few organizational types that need strong PAM structures:
Large Enterprises
Any company that has employees with privileged access to critical systems or sensitive information can benefit from PAM. This includes businesses of all sizes, from small startups to large enterprises. However, large enterprises with multiple verticals and departments can derive much more value from privileged access management.
Such organizations usually have multiple product lines catering to different clients, and hence, generating a variety of data.
Having a robust PAM mechanism in place can help large enterprises keep access to sensitive data in check, preventing unnecessary access to sensitive information.
Also Read : What Are The Benefits Of PAM?
Financial institutions
Financial companies generate and store large amounts of sensitive information affecting the financials of their clients.
Attack on banks and other financial institutions is a common affair, especially in thriving markets like the UAE, India, and Europe. PAM can help them protect their data and systems against cyber threats.
Banks, credit unions, and other financial institutions must comply with strict regulations around data privacy and security. Thus, spending on building strong PAM systems is a worthy investment for financial companies.
Healthcare organizations
Healthcare organizations like pharma companies, life testing companies, and mega hospitals are required to maintain large amounts of sensitive data of their patients and test subjects. These medical records contain confidential information like disease history, prescriptions, insurance information, banking details, etc., that can lead to catastrophes if leaked.
Hospitals, clinics, and other healthcare organizations are responsible for safeguarding sensitive patient data, especially in regions where regulations for patient data protection are stringent.
PAM can help ensure that only authorized personnel can access such data, and prevent any kind of unnecessary access that may cause data leaks.
Government agencies
Organizations that can benefit the most from privileged access management are government agencies. Every government organization maintains large amounts of sensitive information that can be easily manipulated by anti-social elements to carry out sophisticated crimes.
Therefore, protecting sensitive data and systems from cyber threats is a priority for government agencies, making PAM an essential tool to manage and control access to critical systems and data.
Particularly, government agencies that deal directly with the masses like licensing authorities, ID-card issuers, passport and visa authorities, etc., need a strong PAM system to keep public data safe and secured.
Cloud-based companies
Cloud-based companies that provide software as a service (SaaS) or infrastructure as a service (IaaS) need to ensure that their customers’ data is protected. Most of the data SaaS companies have is highly competitive, which means it could be sneaked out by fringe elements and sold to competitors.
The software data may also contain intellectual property, which may cost a fortune if leaked out. Privileged access management helps software and cloud companies manage and secure their own cloud infrastructure, as well as the infrastructure they provide to their customers.
Manufacturing and design companies
Manufacturing and design companies need to protect their critical systems and intellectual property from cyber threats. The computing network such companies use is usually shared across the organizations, meaning all the innovative designs and product descriptions are stored in the common network.
PAM is used to manage and control access to privileged accounts, enforce access controls, and monitor privileged user activity. For instance, people from the accounts department in a manufacturing company can be prevented from accessing marketing plans and designs of new products stored within the same network.
Also Read: Three Areas Of Privileged Access Management?
Why Mechsoft can be your perfect PAM partner
In each of these use cases mentioned above, privileged access management is used to manage and control access to privileged accounts, enforce security policies, monitor privileged user activity, and prevent unauthorized access to critical systems and data. However, organizations need seasoned professionals for designing and implementing robust PAM systems for protecting their sensitive information, minimise the risk of data breaches, and comply with regulatory requirements.
Mechsoft Technologies is among the fastest-growing cybersecurity platforms that offer comprehensive solutions. The PAM solutions we offer are designed to serve organizations of different sizes and belonging to various industries.
Mechsoft Technologies has a team of experienced cybersecurity experts that help you build a solid infrastructure to prevent unwanted access and protect data and network privacy. Connect with our PAM specialist for a detailed demo or to try out a trial and experience the benefits offered by our PAM solution in Dubai.
