It takes just one breach for a company to face irreparable financial and reputation damage. Cybercriminals use compromised company security as an entry point to breach confidential business data. Attackers will want to target privileged accounts to gain access and move around breached networked. That is why organisations must secure these accounts more tightly than ever through proper privileged account management.

Moreover, the threat of insiders and compromised privileged accounts has lead to regulatory bodies and auditors paying attention to controlling what companies do to mitigate such a threat. Things become even tougher for companies due to cloud-based IT infrastructures. To make sure your company data does not fall into the wrong hands, invest in privileged access management (PAM) solutions. Here’s what you can expect from these solutions:

Password Vaulting

PAM solutions can prevent privileged users from knowing the actual passwords to crucial systems and resources in your company. This prevents any attempt of a manual override on a physical device. Rather than giving your passwords to privileged users, your PAM solution keeps all passwords in a secure vault.

Managing the Lifecycle of Privileged Accounts

By being able to manage your privileged accounts’ lifecycle, you can handle access permission of a personal user to shared privileged accounts according to policies and roles. This lets businesses define some parameters which control administrative access and limit access to certain functions and resources.

Managing Privileged Passwords

A PAM solution comes with a privileged password management feature that lets you automate and control the entire process of providing access and passwords to privileged accounts. You will only give highly critical and sensitive credentials when all established policies are followed and when all required approvals are met. A privileged access manager monitors all activity on privileged accounts and makes sure the passwords are changed right away after a return.

Configuring Access Control and Approval Workflows

In case an all-out emergency situation takes place, a user must put a flat on the system to indicate that any checkout does not require approval. But, all these requests must be approved automatically and still audited. Also, users need to pre-define who can request this access, who will approve the request, and on which systems.

Establishing User Sessions

Session control is not enough and your company must know everything that privileged users did during their admin session. That is why a PAM solution can establish sessions for every privileged user.