In an ideal setting, password management delivers centralized management of privileged identities across the cloud, mobile and datacenter realms. Through this infrastructure the enterprise additionally gains a secure access for remote employees and controlled access for outsourced IT – without the need to manage more identities.
In the past, password management challenges and privileged identity issues have been the number-one target of hackers and malicious insiders. In fact, 80% of all data breaches are successful because of poor management of these identities. Protecting your organization requires an integrated password management strategy and control with regards to the number of privileged identities.
Achieving this careful balancing act in 2016 will mean the difference for a lot of companies between disaster and security, growth and innovation. At the heart of this balance is how organizations can effectively secure and manage privileged identities in a world where infrastructure and employees are no longer on premises, and even much of the IT staff is outsourced.
In all forms of business and in all sectors, growth and innovation is the goal that every C-Level executive down to the project, program and portfolio manager strives to achieve. In the retail sector, for example, single sign-on is instrumental to growth and innovation. Mobile sales are quickly rising globally to become the main source of retail growth on the internet, particularly for mothers under the age of 40.
As another example, according to a recent study, women of that demographic use mobile technology to drive 55% of product ideas including 54% of brand recommendations. And a full 70% of this demographic uses mobile technology while shopping in stores. A significant component of this mobile retail experience is authentication and authorization in order to facilitate sales.
The infographic below expands the statistics on organizational data breaches in relation to consumer habits.
From an operational perspective, effective password management solutions can:
- Decrease the idol time your Help Desk spends at odd-hours responding to password issues.
- Increase productivity of your IT staff by freeing up their time for new projects.
- Improve and stabilize current and future reporting on IT costs by altering a variable cost into a fixed cost.
Outsourcing your password management further off-loads the burdens of installing, running and maintaining a Password Management System within your Firewalls. And the ROI is simple. Simply calculate the FTE (or human capital per hour) spent on your current infrastructure addressing password management.
Putting It All Together
Information Technology is a powerful enabler of ease of use. Hypersocket single sign-on is part of a series of solutions built on the Hypersocket Framework (HSF), an open source project that enables rapid development of web-based JSON services with granular role-based access controls based on the principle of least privilege.
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This Blog was brought to you by Hypersocket and its CEO, Lee David Painter. With over 20 years of industry experience as a pioneer in IT Security, Lee developed the world’s first OpenSource browser-based SSL VPN (SSL-Explorer). Today Lee runs Hypersocket, a leader in virtual private network technology.