Identity and access management (IAM) plays a crucial role in cloud security. Your system’s strength could make or break your entire institution. Considering that companies lose $150 per compromised data, even SMBs with 1,000 documents would have to shell out around $150,000 following a data breach.
You can observe strict identity management by limiting technology resources to authorized users. Integrate password managers, centralized access control systems, privileged accounts, and regular audits into your cloud security plan.
You can improve your cloud security identity and access management (IAM) strategies by:
Password managers allow users to alter and oversee several passwords at a time. Apart from creating a streamlined management platform, the system also prevents employees from recycling old, weak passwords.
You need an access control system to access your entire cloud-based storage system. You do not have to address the inconsistencies yourself, but strive to stay updated with recent security developments.
Limit privileged accounts to trustworthy employees, not your entire IT department. Also, restrict off-site access to these accounts. Generally, no one should have access to privileged accounts outside the office.
Do not rely on one specialist for all your IAM and cloud security needs. Doing so may reduce hiring costs, but it also compromises your safety. Remember: no employee should hold more authority than you. Otherwise, they can bypass your account and hijack the system.
Your company will need an in-house IT department as it expands. You need to have someone on standby around the clock in case of late-night cyberattacks.
Do not neglect cloud security. Assured Standard shares that even high-value corporations fall victim to cyberattacks. Read our list of companies that suffered significant data breaches in the past decade.
The best IAM strategies utilize accessibility and privacy. Strive to create a system where you have absolute control over who accesses company files.
Also, never rely on generic plans. Pre-made, cookie-cutter systems cost less, but they yield inadequate security. You need a unique, custom system that matches your company’s unique needs and demands.
Still on the fence about what insurance plans your business needs for cybersecurity? Assured Standard can help. Check our comprehensive guide on the basics of cyber liability insurance.