From time to time here at Solutions Review, we like to read through solutions providers’ blogs. We find it an excellent way to learn from cybersecurity experts how the fight against hackers, insider threats, and rogue nation-states is going from the perspective on the ground.
This week, we looked through the blog back catalog of Ping Identity, an identity and access management (IAM) solution provider from Denver, Colorado, for Q1 of this year. Here’s the key findings we found:
Now that the Winter Olympics have wrapped up, Ping Identity points out something audiences often forget: Olympic athletes rarely achieve their successes alone. Rather, they are bolstered by their teams teams—their official teammates or the knowledgeable coaching staff that helps them reach their full potential.
The same principle applies to identity and access management. Enterprises might try to secure their databases via their own in-house permissions policies and access request system. However, working with an IAM solution provider as a team will help enterprises achieve much more security success. Tools such as single sign-on and multifactor authentication can bring enterprises to the security podium, if you will.
In 2017, almost a quarter of all reported breaches affected financial enterprises. In fact, according to the 2017 Verizon Data Breach Investigations Report, financial services was the most breached industry.
That same report noted that 81% of those breaches stemmed from poor password management or fundamentally weak credentials. Ping Identity recommends switching to a two-factor authentication system—which often involves pricey hardware tokens or the discouraged verification code practice—or a flexible multifactor authentication method. After that, your enterprise can implement stronger access management that exercises caution in granting permissions to employees, customers, or partners. These can be critical steps in maintaining your database’s integrity and stopping breaches before they happen.
The opening weeks of 2018 were marked by major mergers and acquisitions in the healthcare industry, with CVS’s publicized intentions to buy Aetna perhaps the most prominent. The timing of these purchases is far from random. More people are buying healthcare directly rather than through their workplace, resulting in greater competition. Value-based care is incentivizing better coordination in treatment. A healthcare merger makes perfect sense in this context.
But crucially, these corporate maneuvers are not the guaranteed windfalls they may appear to be. In fact, 70% to 90% of all acquisitions are considered failures due to irreconcilable culture or technology clashes. According to Ping Identity, identity and access management can actually help mergers go smoother. IAM can help centralize security policies, integrate patient and employee identity data, and maintain application functionality during transitional periods. The same principle surely applies to enterprises even outside the healthcare industries looking to expand via acquisition.
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