As businesses reflect on the pandemic and the disruption it has caused to our daily method of operations, Ensuring flexibility and resilience are now the top priorities of C-suite agendas everywhere.

Whether moving your operations to the cloud or you’re setting up to automate your processes, enterprises worldwide are looking to modernize their IT infrastructure. Unfortunately, this modernization push also creates opportunities for attackers to find new security vulnerabilities.

PAM (short for Privileged Management Access) protocols secure pathways to business data, and are essential to effective cybersecurity programs. Many cyber attacks use compromised credentials, so PAM provides a crucial extra layer of defense.

While consistently securing your business’s privileged access reduces the risks and improves efficiency, some myths and misconceptions surround PAM. Here are the top five PAM myths and the real facts to bury these myths for good.

1. Privileged Access is Everywhere, so You CAnnot Fully Secure It

The vast scope of privileged access can be overwhelming in complex IT environments. 

PAM solutions can reduce the potential area of attack by closing pathways to vital resources. PAM solutions map privileged access across cloud and hybrid networks, saving your IT security teams time and effort.

PAM solutions automatically rotate privileged credentials at frequent intervals so your IT team won’t have to take the time out to do it themselves (and risk causing errors in the process.)

Also, PAM solutions automatically map privileged account sessions to identify which of your workers are using privileged accounts.

Between automatically rotating credentials, monitoring sessions, and mapping accounts, PAM can help you uncover, manage, and secure privileged access to your system.

2. PAM Tools Are Challenging for Admins to Manage

Today’s PAM solutions greatly simplify admin workloads. By collecting all privileged accounts in a centralized vault, PAM tools get rid of the need to search for manually and manage these credentials.

PAM tools are especially helpful in addressing the emerging risks that come with migrating to the cloud. Even the slightest mistakes in configuring your system can open it up to vulnerabilities. Having tools that can discover risks that are associated with privileged access can increase an organization’s security.

3. IAM Solutions are Enough to Protect Privileged Access

IAM tools and Multi-Factor Authentication do not replace the strategic value of PAM tools. PAM tools can secure privileged accounts that use both human and non-human identities, such as application accounts. IAM solutions aren’t designed to do such a task.

Also, PAM tools protect from social engineering attacks that can bypass MFA systems. Also, IAM tools need you to connect to the user database directly, and the connections are hosted on-site. If any on-site servers are compromised, attackers can get inside and stay in the network undetected. PAM provides an extra security layer for servers hosting IAMs direct link to user databases.

For the best protection of your network, use IAM and PAM solutions in tandem.

4. PAM Solutions Interfere with Operational Efficiency

Most daily tasks that most workers partake in don’t need elevated privileges. As a result, PAM solutions won’t affect them in the slightest.

However, if your tasks require elevated privileges, PAM tools can automate otherwise time-consuming duties for your IT and security employees. This automation frees up their time for other, more critical projects.

5. It’s Hard to Determine ROI for PAM Solutions

In 2019,data breaches could cost businesses roughly $4,000,000. This figure doesn’t include the peripheral costs of lost business due to IP theft and reputation loss.

Cost-efficiency is vital in every security system. Enterprises need to apply their finite resources in areas where they can score quick wins.PAM solutions are high-leverage points where relatively small investments can deliver an outsized ROI and reduce risks.

After organizations deploy their PAM solutions, they can scan their systems and see a drop in unsecured systems. All unmanaged privileged accounts serve as vulnerabilities. Every privileged account the PAM solution discovers, secures, and protects is a direct and immediate reduction in the vulnerable attack area and proof of ROI.

Effective security begins with safeguarding a business’s critical data. This data is the most popular target in cyberattacks, so unprotected privileged access is a direct threat to your business. Use a PAM solution to lock down and protect your privileged data, monitor sessions across your network, and keep attackers out of your network.