This is the first in a weekly four-part series providing practical insight on how to best implement an effective Privileged Identity Management program.
Privileged Identity Management is a rapidly growing category of the cyber security industry. According to Research and Markets, “the privileged identity management market size is expected to grow from USD 922.0 million in 2016 to USD 3,792.5 million by 2021, at a Compound Annual Growth Rate of 32.7%.”
Much of this growth can be attributed to the increasing understanding that some of the most advanced cyber attacks require access to privileged credentials to succeed. A Privileged Identity Management solution can manage and secure these powerful credentials and keep them out of the wrong hands.
We didn’t just recently jump on the Privileged Identity Management bandwagon here at Lieberman Software. We’ve been developing products in the space for more than a decade. Based on our extensive experience we established a set of best practices to help guide your Privileged Identity Management journey.
Download the white paper Best Practices in Privileged Identity Management to get your complete guide to securing privileged identities.
In this first of a four-part series, we’ll cover the basics of Privileged Identity Management. What is it and why is it a crucial component of a sound cyber security program? Then we’ll move through three progressive stages of a successful Privileged Identity Management program. We’ll explore basic requirements, proactive planning and advanced cyber defense.
Privileged identity Management Overview
Privileged identity is best summed up as the very powerful but required administrative accounts and rights built into every technology , from the biggest server to the smallest set top box. It’s everywhere in the enterprise, which makes tackling it a challenge.
Another challenge is that people who need privileged access are also everywhere throughout your organization. This includes your IT administrators, many of your everyday users, contractors, and others who need elevated access to get things done.
The spreading of privileged identity – sometimes referred to as “access sprawl” – makes it difficult to keep the bad guys out. In today’s world, intruders are hopping over your firewalls and finding a treasure trove of privileged access waiting for them. Meanwhile, insiders with bad intentions are able to hold on to their administrative access and wreak havoc on your organization.
Privileged Identity Management is the art of securing privileged identities while also enabling business to be fluid. When it’s done well, you reduce risk, enhance user efficiency, meet regulatory compliance requirements, and build a strong cyber defense behind the firewall.
Every unmanaged privileged identity is a risk not worth taking. Privileged Identity Management mitigates that risk by both managing the credential where it lives and controlling who can use the credential at all times. This management means people who need legitimate access can get it in a predictable, repeatable manner.
All this combined means you can defeat the bad guys before they get a chance to do real damage. Whether they slipped past your perimeter defense or were invited in as a contractor, they’re now looking for unsecured privilege to raise their attacks to a higher level. Privileged Identity Management done well stops them in their tracks.
Where We’ll Go Next
However, Privileged Identity Management, like everything else, must start somewhere. And how you start often dictates how well you do in the end. In part two of this series, we’ll take a closer look at how you should start out and the basic requirements that a good Privileged Identity Management solution must provide.
Learn More About Privileged Identity Management
Learn more by downloading the guide – Best Practices in Privileged Identity Management.