The Need for Balance When Dealing With Security and Productivity
Recently, Jack Shepherd researched the four things manufacturers need to do to keep their client’s private information safe while maintaining high productivity. There are major challenges that manufacturers face when it comes to digital changes. These challenges are the following: managing permissions of many users and apps and managing clients’ security. If a company is savvy, it recognizes the importance of making a large digital transformation. These transformations enable its clients to seamlessly order products and contract services and get access to their accounts. Companies do well to have an IT team of innovative individuals to develop a strategy to manage access and identity.
The Structural Complexities of Third-party Access
Users throughout a large enterprise can access data and applications on company websites. This can make it difficult to maintain security on multiple levels. In reality, around 1/3 of enterprises provide authorized access to their users. Hence, manufacturers need a good system to distribute and monitor access to apps and websites. It is also essential for manufacturers to understand the threat that hackers can pose to their clients.
The Truth About Cyber Attacks
Cyber attacks can be extremely costly to a company. Not only can they be expensive because of the monetary expense, but the loss of trust from clients can devastate a business. Businesses have access to customers’ financial information, agreements, documents, and personal information. At the same time, manufacturers see a high volume of attacks on small and large businesses. It is possible that one data breach can cost a company between $190,000 and $750,000. Since that is the case, manufacturers do well to take every measure to keep their client’s information private.
The Expense of Traditional Identity Management
While companies want to maintain a high level of security, they still have to turn over a profit. Hundreds of thousands of users go onto applications and websites daily, so an identity theft management system must be complex and skillful. It has been estimated that a complex identity management system’s operational impact can cost manufacturers upwards of $3 million.
Is There a Way to Balance Security and Expense
Even though savvy companies maintain the highest commitment to their customer’s privacy, there has to be a balance solution for keeping privacy and earning a profit. This solution comes from OneLogin. OneLogin offers a Single Sign-On and a Multifactor authentication system. This system is also known as MFA & SSO. These systems of MFA & SSO are designed to be cost-effective and extremely reliable. The Single Sign-On feature is a great solution for usability and privacy. All that a user has to do is enter one set of credentials to access their apps and websites. The Multifactor authentication system can protect against unauthorized access to important information. Apart from that, it covers any organization against cyber attacks.