Overview
Security has become the need of the hour as threat actors are bringing MNCs and conglomerates to their knees. With sky-high ransom demands and reputation loss, companies have much to lose. As per an estimate, a data breach brought an unwanted average bill of USD 4.24 million for private cloud infrastructure firms and USD 5.02 million for public cloud infrastructure companies. The demand for reliable security solutions surged as threat actors became unwantedly productive with their hacks.
Client Profile
The client is a multinational firm with a firm footing in manufacturing and operates out of Texas. The client started its operations in the mid-90s’ and has leveraged technology to innovate. With its vast global footprint, the client housed numerous employees and dealt with various business partners daily. Enforcing data protection was pertinent as the client housed enormous amounts of proprietary data, and its IT-integrated infrastructure was a potential target for threat actors. To avoid unwanted circumstances, the client contacted Veritis to deliver a robust security solution to protect its data from insider and external threats.
Client Requirements
The client expressed its requirements, which ranged from a data protection policy to access management. As the client used multiple tools and software suites, managing permissions for many employees became a Herculean task. Additionally, the swift revocation of privileges for exiting employees was another requirement from the client. Lastly, the authentication process for the access was to be reliable without being a hindrance to access.
Veritis Approach
Veritis appreciated the client’s timely requirements. With the client being a well-known innovator in its field, deploying a sound IAM strategy was pertinent before the client fell prey to a threat actor. One of the challenges was that the client relied on manufacturing infrastructure, and the access management had to support the infrastructure.
Veritis comprehended the client’s operational structure and ensured the appropriate permission access to various employee segments. These permissions were granted based on their job roles and what software suites they needed to complete their work. This segmentation allowed Veritis to avoid unwanted pitfalls while helming the strategy.
To ensure maximum safety, Veritis built the IAM solution on the ‘Principle of Least Privilege,’ which advocates that no user should have access to anything beyond the required resources. The principle reduces the potential gaps for threat actors and stunts the chances of malware infections.
Benefits to Client
The client walked away with more than a handful of benefits as Veritis’ IAM strategy continued to work effectively. Listed below are the benefits that the solution brought along:
- Bettered protection of data.
- Easy management of privileges.
- Automated file access to employees based on designation levels.
- Access to suites instead of piecemeal access to individual tools.
- Rescindable privileges option provided.
- Comprehensive Multi-Factor Authentication was included in the solution.
- Revocation of access rights soon after employee exit.
Overall Business Value Delivered
Identity and Access Management is an essential strategy companies must adopt to stay protected from threat actors. Despite the innumerable profiles, the implemented IAM solution allowed the client to manage access and restrict control after any personnel left the company. One should take stock of the unpleasant observation that every insider breach brought an average loss of USD 15.38 million. Since the IAM solution was deployed, the client never encountered a breach and went on to ring in profits. With market performance vindicating the IAM solution’s performance, it is cognizable that Veritis made an invaluable addition to the client.