The Software & Hi-Tech firms are driven by rapid technological innovations to keep their businesses moving forward. In the last decade, many new technology companies were incorporated in the Silicon Valley and other major parts of the USA. With the recent outbreak of the global pandemic, COVID-19, there was a sudden surge in many new start-up companies; especially online e-learning firms which opened up new avenues for learning online via interactive webinars, self-paced video tutorials, and e-books. In general, the number of start-ups is growing at an unprecedented rate and this trend is going to stay for a long time.

IAM Use Cases For Software Firms

Most of the times it happens that start-up technology firms tend to compromise on their security and compliance requirements during the launch of new product lines. This can be attributed to the use of homegrown security tools for managing the Identity Access Management (IAM) use cases, including:

  • New hire onboarding, offboarding
  • Password management
  • New hire requests
  • Access reviews.

To remain protected from cyberattacks, It is imperative for software firms to migrate from legacy IAM solutions to more advanced IAM Solutions. This digital transformation is inevitable because at some point of time the custom IAM tools would become obsolete as they aren’t scalable unlike their best-of-breed vendor IAM tools. Thus, a shift from homegrown IAM tools to best-of-breed vendor IAM tools is essential. A reliable, automated, and intelligent Identity Access Management solution that is capable of combating the identity threats associated with the internal and external users of the software firms can help ensure that the right users get access to the right resources while complying with the regulatory laws of the industry.

Five New Challenges in 2021 for Technology Firms

According to Gartner, there are five new challenges in 2021 that need to be addressed by the Security & Risk Management Leaders of software firms:

  • The skills gap in cybersecurity is on the rise. More than 80% of software firms agreed that finding a qualified cybersecurity personnel is hard.
  • The complexity of global regulations is increasing.
  • The geo-political situation is worsening.
  • Security breaches due to ransomware are peaking.
  • Migration from traditional IAM solutions to Sophisticated IAM solutions is on the rise.

Gartner’s Top security and risk management trends in 2021

  • “Identity as the new security perimeter” is now a reality: access to any user, at any time, from anywhere is no more an ideal.
  • Breach and Attack Simulation (BAS) tools for identifying the gaps in the security posture are increasing in popularity.
  • Identity Management of machines to manage and establish trust in the identity of a machine interacting with other devices, applications, and cloud services is gaining prominence.

At InfoGravity, LLC, our passionate team of IAM Engineers are committed to providing world-class IAM security solutions that are catered to technology firms. Call us on our toll-free number today to schedule a free appointment.