Explore the Best Identity and Access Management Tools in 2024

Organizations across the globe are prioritizing data security due to increasing cyber-attacks. Identity and access management (IAM) is one of the popular strategies that companies are highly integrating to safeguard their valuable data. Third parties offer various tools as SaaS, PaaS, and IaaS that allow convenient IAM implementation.  

Data reflects that among the remarkable cases of cyber-attacks, insider threat has been significant where an insider or employee is responsible for the possible cyber-attack on an organization. The motive can be either intentional or unintentional.   

We have previously discussed what IAM is and how it works. In this blog, we shall evaluate the best Identity and access management tools alongside highlighting the advantages of using these tools. Single sign-on is a common feature of most of the tools.   

What are Identity and Access Management Tools? 

IAM tools are applications and software that allow compliance with identity management policies and secures organizational data from possible risks. The tools manage user identities and ensure that the accurate people are accessing the accurate data that they have permission for.    

In simple words, identity and access management tools offer the ability to manage user identity, authentication, user access, authorization, etc., while distributing the data permission to the right individuals. The method supports standardizing cybersecurity practices in companies, protecting confidential information from unwanted exposure.   

Benefits of Using IAM Tools: 

Standard security: Identity and access management tools ensure providing data accessibility to authorized individuals only, enhancing cybersecurity parameters. Moreover, such tools enable multi-factor authentication, which is a key cybersecurity practice.   

Increased flexibility and productivity: Role-based data accessibility allows companies to establish a flexible work culture, whether operating in-office or remotely. Furthermore, it increases productivity with structured procedures of resource usage.   

Robust IAM integration: Dignified tools help organizations incorporate tactics of identity and security management effectively which helps in sharing role-based data access more appropriately.   

Top Identity and Access Management Tools in 2024:

Microsoft Entra ID:  

Entra ID is one of the superior identity and access management tools by Microsoft that companies can easily depend on. It simplifies the process of managing user identities and passwords. With standard access monitoring, the tool brings efficiency to organizational operations. All the functions in Entra ID are compatible with cloud environments. Below are its top attributes:  

Features:   

• Centralized access control  
• Standard data encryption  
• Data and application security  
• Self-service password management  
• On-premises directory synchronization  

SailPoint:  

The tool enables an AI-powered security platform that supports enterprises to solve several protection-related difficulties. SailPoint centralizes data and application access which helps in managing user identities and distributing access more effectually. Its pricing is not publicly available. Below are the top characteristics of this IAM tool.   

Features:   

• Password management  
• Governance  
• Privacy preference management  
• Provisioning  
• Compliance control  

Okta:  

As one of the most popular identity and authentication management tools, Okta offers customized security tactics based on organizations’ needs. Moreover, it integrates multi-factor authentication to monitor user identities and data accessibility. This tool follows a pay-as-you-go pricing structure. Its top features include:  

Features:   

• User lifecycle management  
• Customization  
• MFA  
• Standard compliance and reporting  

Oracle Identity Management:  

Oracle offers top-notch IAM solutions that elevate companies' security measures. It is user-friendly and reduces the operational costs of organizations by streamlining data and resource distribution. The pricing of Oracle Identity Management is not available publicly. The following are its top attributes:  

Features:   

• Access management  
• Cloud-native abilities  
• Self-service user portal  
• MFA  

CyberArk Workforce Identity:  

It is one of the most preferred identity and access management tools currently. CyberArk simplifies resource distribution methods, solidifying cybersecurity practices in companies. It is a superior tool in cloud environments, enabling organizations to manage data effectively in a remote work culture.   

Features:   

• Password vaulting  
• Privileged access management  
• Least privilege access  
• Privilege elevation  

Concluding Remarks: 

Experts highlight that malicious insider threats can lead to an average loss of around $4.90 million, which is 9.5% higher than the cost of accumulative causes of data breaches, which is $4.45 million. The reason for such a devastating number of insider threats is unauthenticated data access. Identity and access management tools can shield company data with an invisible cloak of safety that keeps individuals, without permission, away from confidential digital resources. Checkout our blog section to stay informed with the trending technologies.   

Read More:
Everything You Need to Know About Identity and Access Management