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4 Key Business Benefits of an Identity Security Platform

For many IT and cybersecurity professionals, the question is not whether to modernize with Identity Security. Rather, it’s about choosing a solution that addresses today’s most critical cybersecurity challenges and positions the organization to deal effectively and efficiently with future threats.

From an implementation perspective, a platform approach offers significant business benefits because it can enable unified protection, reduce complexity and provide a single solution for all identity types, applications and devices. An Identity Security platform makes IT and cybersecurity teams more productive and efficient, reducing the number of vendors and finally having a single source of identity data all in one place.

With the platform model, you can apply intelligent Identity Security controls based on the risk profile and privileges of each identity. That makes it the clear path to Identity Security modernization and reduced risk of disruptive cyberattacks in the cloud era.

Enterprise Strategy Group research shows a clear preference for a platform model among IT and cybersecurity decision-makers. Nearly 60% of organizations currently have two teams responsible for securing identities in cloud and on-premises environments.1 This creates unnecessary gaps in protection and visibility. It also limits the ability to leverage an enterprise-wide zero trust framework. 

To mitigate these challenges and address additional risks caused by IT complexity and a growing attack surface, 54% of decision-makers said they prefer a platform-like approach with unified controls from fewer vendors.2 Decision-makers also overwhelmingly support a holistic, risk-based Identity Security strategy based on least-privilege access. 

This article explores four key business benefits organizations can achieve by embracing a unified platform model for Identity Security modernization. 

1. Support key business initiatives such as digital transformation, hybrid workforce, digital supply chain and internet of things. As digital transformation efforts continue to mature, IT leaders are redefining their priorities. According to ESG’s 2023 Technology Spending Intentions Survey, the top priorities of digital transformation are to become more operationally efficient; develop new data-centric products and services; provide better customer experience; develop innovative products and services; and enable users to interact and collaborate in new ways.3 With an Identity Security platform, IT and cyber teams can achieve all these objectives, including:

  • Deliver secure digital experiences that also offer a frictionless user experience.
  • Enable rapid growth of users and machines without taking on the additional risks inherent in a larger attack surface.
  • Empower DevSecOps and software supply chain in the cloud to increase business agility and accelerate speed to market.
  • Support application modernization and hybrid work initiatives with a seamless  approach that improves security for users, partners and customers across the entire ecosystem. 

2. Reduce cyber risk and complexity while building a long-term foundation for zero trust. A comprehensive Identity Security platform offers a range of capabilities to reduce risk. It incorporates a unified approach to securing all identities, using intelligent privileged controls as well as flexible identity automation, orchestration and lifecycle management. A platform delivers measurable cyber-risk reduction against the leading cause of breaches: compromised security and credentials. Endpoint security and identity management are essential elements of a zero trust strategy. With an Identity Security platform, organizations can collect, correlate and analyze endpoint data for alert and response in an integrated manner.

3: Improve regulatory compliance capabilities, including enhanced audit readiness and more accurate risk assessments for cyber insurance. A unified platform enables the organization to meet extensive compliance requirements for many regulations, frameworks and solutions. Businesses can conduct auditing across the entire landscape to ensure everything is in order to meet compliance and auditing requirements. One framework addresses all audit and compliance requirements, making it easier to monitor, manage and audit across all identities and resources. With cyber insurance becoming more essential—and more expensive—an Identity Management platform gives cybersecurity leaders a more accurate reflection of their risk profile, while also reducing the risk of a successful identity-based attack.

4. Reduce pressure on cybersecurity teams at a time when competition to hire, train and retain experienced professionals remains steep. According to the ESG survey, strengthening cybersecurity is the No. 1 business initiative driving IT spending in 2023, cited by 35% of respondents. At the same time, however, cybersecurity was also the No. 1 response when it came to identifying IT’s most problematic skills shortages, cited by 45% of respondents. Any solution that can ease the burden on cyber teams is not only welcome; it’s imperative. 

 A unified platform based on intelligent privilege controls reduces IT complexity in a number of ways. It leverages automation across the identity lifecycle, centralizes identity management and provides centralized visibility across the entire enterprise. It gives security teams a more modern tool set to move faster and with more intelligence and dexterity to identify, isolate and react to threats from compromised identities.

In the world of Identity Security, not all solutions are created equal and not all vendors can deliver the key business benefits of the platform model discussed in this article. For more information on how your organization can benefit from a modern Identity Security platform, please review the resources on this site and visit CyberArk.

1The Holistic Identity Security Maturity Model,” CyberArk and Enterprise Strategy Group, February 2023
2 Ibid.
32023 Technology Spending Intentions Survey,” Enterprise Strategy Group, November 2022

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