Privileged Access Management (PAM) is an essential approach to safeguarding privileged accounts—those with elevated permissions enabling high-level actions within an organisation’s IT systems. These accounts provide access to sensitive data and critical systems, making them prime targets for cybercriminals. The primary goal of PAM is to ensure that only authorised individuals can use these accounts, subject to strict monitoring and control.
As remote work, cloud computing, and insider threats become more prevalent, PAM’s importance has risen. If compromised, a privileged account can lead to severe outcomes such as data breaches, financial losses, and damage to an organisation’s reputation. This makes implementing robust PAM solutions crucial for protecting vital organisational assets.
PAM centres around several key components. Privileged accounts grant users elevated access within systems, often likened to holding the “keys to the kingdom.” Session monitoring ensures that all actions within privileged accounts are tracked, creating a comprehensive audit trail that helps organisations detect irregular activities. The principle of least privilege, which ensures users have only the access necessary for their tasks, is also vital to reducing the risk of account misuse.
While implementing PAM is critical, it can also be challenging. Organisations must integrate PAM with their existing systems, handle resistance from users, and maintain ongoing training for staff. Identifying all privileged accounts can be time-consuming but is essential for effective access management.
Effective PAM solutions offer various functions that protect privileged accounts, such as access control to restrict sensitive network areas to authorised users, credential management to automate password rotation, and session monitoring to provide accountability and support compliance. Enforcing the principle of least privilege further reduces the likelihood of account misuse, creating a more secure IT environment.
Failing to secure privileged accounts exposes organisations to external attacks, insider threats, and regulatory non-compliance risks. For instance, hackers can leverage compromised accounts to access sensitive data, while insider threats may arise from employees misusing access. Inadequate PAM can also lead to breaches of regulations like GDPR or HIPAA, leading to penalties and reputational harm.
A solid PAM solution includes components like password vaulting, secure session management, least privilege enforcement, and comprehensive audit trails. Device Authority’s PAM solution, for example, focuses on enhancing security for IoT environments, where devices typically have limited security features. Device Authority’s solution automates credential management and strengthens security through encryption and certificate-based authentication, protecting IoT device communication.
When integrated with CyberArk, Device Authority’s PAM solution unifies access control across traditional IT and IoT devices, benefiting industries such as healthcare and manufacturing. This integration streamlines credential management, simplifies compliance, and strengthens incident response, enabling organisations to protect sensitive data and maintain operational continuity.
Implementing PAM yields numerous benefits. It reduces credential theft risk, ensures regulatory compliance, mitigates insider threats, and enhances operational efficiency by automating credential management and session monitoring. Key best practices for implementing PAM include conducting a privileged access audit, enforcing least privilege, using multi-factor authentication, automating credential management, and monitoring user sessions.
The future of PAM will likely be influenced by AI, machine learning, and IoT integration. As organisations increasingly adopt a Zero Trust approach, PAM solutions will be vital for reinforcing security. Leaders like Device Authority and CyberArk offer PAM solutions that secure both traditional IT and IoT environments, helping businesses build stronger defence mechanisms.
Privileged Access Management is integral to modern cybersecurity strategies, reducing risks, ensuring compliance, and protecting sensitive data. As organisations evolve, the integration of advanced PAM solutions is essential to uphold robust security standards.
Tern plc (LON:TERN) backs exciting, high growth IoT innovators in Europe. They provide support and create a genuinely collaborative environment for talented, well-motivated teams. Device Authority is focused on securing connected device ecosystems and is recognized as the global leader in Device Identity Lifecycle Management and Identity and Access Management (IAM) for the Internet of Things (IoT).
