Data breaches are more prevalent than ever in today's world, and they can have devastating consequences for businesses. According to a report by IBM, the average cost of a data breach is $4.35 million, and it takes an average of 277 days to identify and 70 days to contain a data breach.
This means that companies have less than a year to detect and mitigate the effects of a data breach, which can be a daunting task. However, privileged access management solutions can help businesses identify data breaches quickly and take steps to contain them.
Privileged access management (PAM) refers to the processes, technologies, and policies used to manage and control privileged access to critical assets, such as databases, servers, and applications. PAM solutions are designed to prevent unauthorized access to these assets and ensure that only authorized users have access to them.
PAM solutions can help identify data breaches in several ways. Here are some examples:
According to the IBM report mentioned earlier, it takes an average of 277 days to identify and 70 days to contain a data breach. This is a long time, and it means that businesses may be unaware that their data has been compromised for almost a year. During this time, attackers can continue to access and steal data, putting businesses at risk of financial loss, reputational damage, and legal liability.
PAM solutions can help reduce the time to identify data breaches in several ways:
In conclusion, data breaches can have devastating consequences for businesses, and the average time to identify them is far too long. However, privileged access management solutions can help businesses identify data breaches quickly and take steps to mitigate the damage. If you need such assistance, Kron's advanced PAM suite Single Connect is the ideal solution for you to achieve a comprehensive access and data security. As being stated in the KuppingerCole Leadership Compass for PAM, Kron's PAM suite is a strong solution that have the capability of combining distinctive Privileged Access Management functionalities under a single PAM platform.
Contact us for more information about Single Connect and discuss your specific PAM needs with our expert team.
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