The Best Identity Management Software of 2021

What Is Identity Management Software?

Today, when businesses access and maintain customer- and company-related information, systems should be in place to control and maintain who accesses the data, when, and how.

Identity and management tools (IAM) are IT solutions that help define and control what information users can reach and alter. The goal of these programs is to maintain system access on an individual identity basis.

A customer service representative at your company might not need access to data crucial for an employee in the accounting department. Similarly, employees in the same department might not need the same information as the department head.

IAM best practices include granting limited data access to a new employee during onboarding. They also enforce keeping permissions updated, as well as ending authorizations when the user leaves the company. All this happens due to the dedicated identity management software.

Most products in this category allow administrators to create user groups and individual access points. They get to change an employee’s role in the system, track activities, and produce reports about any individual user.

Identity management software is an important tool for creating and enforcing compliance with company and general (country, regional, etc.) protocols.

Benefits of Identity Management Software

Whether you’re a small company with only a few employees or an international corporation with thousands of users within and outside the business, you can benefit from this type of software.

• Better IT disaster management: IAM software ensures you have processes and protocols to safeguard client credentials and sensitive information. Disaster management best practices start here. Once you have the basics covered, recovery and access control will come more easily.
• Added compliance and automation: Making sure sensitive information stays safe is critical for every company’s reputation. However, not meeting a certain standard might go beyond a loss of goodwill. Global data protection regulations exist to make sure businesses comply with personal data access control and privacy. IAM automates processes, relieving some “manual labor” from IT departments.
• Decreased cost and complexity for security measures: As happens with any automation system, identity management software removes mundane tasks, simplifying protocols. Less effort, in this case, initiates cost reduction and processes that are easier to control.
• Client trust: All the benefits mentioned in this section ultimately come together at a focal point: client trust. If company systems stand on firm ground, customers can be sure their private information is protected against most online and offline threats.

Must-Have Features of Identity Management Software

We’ve talked a lot about the top features and must-haves for identity management software in this article. Now, let’s summarize their role once again:

• Access management: The first and most prominent feature in any IAM is the existence of privileged accounts in the system. Administrators should be able to control exactly what is accessible to certain users and user groups. Self-service access and access certification are part of user provisioning.
• Single sign-on (SSO): Suppose the company works among separate-standing systems. In that case, a single access point is what it needs to ensure security and integration. This feature makes it a breeze to sign into multiple accounts with just one username and password, removing the threat of losing or confusing several credentials.
• Multifactor authentication: While SSO can help by eliminating several passwords, in some cases, it makes the systems vulnerable. Multifactor authentication comes to strengthen access protection. It ensures the user can verify their authenticity with another device, added biometric protection, or other methods.
• User behavior analysis (UBA) and reporting: This feature collects data, applies algorithms, and finds deviations from normal workflow on the individual user level based on system usage patterns. Then, the system makes a report or alerts privileged users. This functionality ensures proactive governance.
• Integrations: These are the bread and butter of identity management applications. Working with systems and applications written using different frameworks is essential for any IAM software. It also needs to support various databases and server protocols.

The Cost of Identity Management Software

As you’ve already seen in the tables and company descriptions above, the flexibility of options is what makes an excellent identity management software. Depending on the diversity of the chosen services and software features, the payment amounts and pricing models may vary.

While some companies require outright payments of tens of thousands of dollars, others come with prices as low as $2 per user per month. This price range should urge you to think about your business needs. Once you locate the pain points that need a solution, choosing software will become easier. Some services are a necessity; others are a luxury.

In addition to their core services, most IAM companies offer advanced add-ons for an extra charge. Some (e. g., implementation and onboarding) come as one-time payments. Other ones (e. g., long-term support) might cost extra every month or be included in the total amount.

That said, identity management software and services can grow with your business and stay relevant to your company’s needs. Sure, it’s an additional expense. However, IAM reinforces the feeling of stability and security within the company.