What Can Identity Governance Tools Do for Your Small Business?

Companies continue to be faced with growing challenges on various levels. One of those challenges is the need to provide proper access to customers and employees. At the same time, they need to ensure security. Identity governance is a very important process that’s usually at the center of IT operations and security.

Luckily, companies today can utilize specialized software solutions for various processes. That includes identity governance, as well. Identity governance or access management systems are designed to give automated access to various technology assets.

They also help manage compliance and security risks. With a proper identity governance tool, you can secure and enable identities of data, applications, and users. Here are some of the major benefits of these tools.

1. Automated Access Regardless of Location

An identity governance tool allows all users to access a system no matter where they might be. Companies that do their business globally can benefit a lot from using identity governance tools. There are enterprise-level governance tools that allow access to applications using any kind of device. Vendors offer many different suites for governance and identity management. Companies can configure them in different ways according to business needs.

There is no wasting time on recognizing and identifying users across the globe manually. You can adjust the centralized platform according to your requirements and let it automate all logins.

2. Increased Productivity

IG tools make business processes simpler. It’s a single identity governance tool through which all relevant access and permission are given. It impacts everyone in the company. Streamlining provisioning and assigning roles makes the onboarding process a lot easier.

There is no need for new employees to wait for weeks before they gain important access. After roles are assigned, employees automatically get an account and access. So, managers don’t need to make requests for new employees, along with documentation or proof.

They also don’t have to worry about denying access to former employees. This makes their jobs a lot easier. A quality IG tool that is set up properly will handle all access-related issues. It allows everyone to deal with more important tasks during the day. Businesses can also create customized QR Codes that have a unique employee ID to authenticate access.

3. Improved User Experience

All modern identity governance tools have a “Single-Sign-On” feature that first appeared at the start of the 2000s. SSO makes it easier for users to manage their passwords and gain access. With it, users don’t have to create, remember, and input several passwords at different stages of the system.

There is no need to have several variations of a password. An SSO feature allows users to log in automatically even when they are changing devices. Furthermore, these systems have multi-factor authentication through which they can verify users.

It ensures their safety while not bothering them with dozens of different passwords. SSO is just a single feature of the tools, making users’ lives a lot easier. Imagine what the newer ones that aren’t over 20 years old can do.

4. Reduced IT Costs

There is pressure on all companies to do more with less, especially for small businesses. Let’s face it; small companies don’t have the resources to hire an employee who will manage access and identity throughout the day, which creates another burden on your IT infrastructure.

Providing access manually requires a lot of time and usually creates help desk tickets or calls that can cause even more challenges. Reporting and documenting requirements further increase complexity and required resources.

Giving privileged aces can also be very time-consuming on managers, and they might end up rubber-stamping them so that they can focus on more pressing matters. In this kind of climate, it’s easy to make mistakes that can cost the whole organization.

A single automated access tool removes all of these issues and saves a lot of money through them. There is no need for a complex IT ecosystem since a single platform streamlines everything. Furthermore, people don’t have to monitor the system and perform manual tasks every day.

5. Better Risk Management

Even though IGA tools automate various access processes, they don’t present a security liability. They make the lives of customers and employees easier while improving security.

How? These tools are proactive in reducing the exposure of sensitive data. With rigorous requirements for gaining access, sensitive information is protected.

In most cases, identity governance tools control and manage access by focusing on three essentials:

1. All users get the least privilege they need. Simply put, an employee will get only the privilege they need to do their jobs properly and nothing more.
2. These tools are designed to terminate accounts that aren’t being used any longer. These old accounts can be a huge liability when someone is looking to breach the system.
3. They create a system where users rely on each other. A single user can do no important action, and there must always be others involved to ensure transparency.

6. Improved Regulatory Compliance

The introduction of various data privacy regulations, such as GDPR, has forced companies to handle access and data use with utmost care. Giving and monitoring access only to people who give permission is not only good for security, but it helps companies stay in line with regulations.

With identity governance tools, companies can control who has access to sensitive data. At the same time, companies can use these tools to prove their practices. Since GDPR has taken effect, many companies have been audited to see whether they comply with the regulations.

With a good identity governance tool, a company can ensure that everyone has proper access. They can also track whether they are being compliant and avoid any risks of fines.