Risks of Digital Transformation
The coronavirus pandemic sparked a renewed push for digital transformation, so organizations could adapt, become more agile, and stay competitive. The downside is that all the advantages created by adoption of Cloud, IoT, AI, and big data, robotic process automation (RPA), and the many other popular digital transformation initiatives create new risk surfaces. Among the most common and dangerous of these risks are associated with abuse of shared credentials, unauthorized users with elevated privileges, and vulnerabilities on endpoints that have access to sensitive resources. To compound the problem, COVID-19 resulted in many tasks being executed from personal devices outside the company network. These are some of trends that have created an environment ripe for the explosion of malware, ransomware, and other kinds of cyber threats.
Simply blocking all applications or locking off sensitive assets is not an option, so interest in implementation and maturation of Privileged Access Management (PAM) solutions has surged. Vaulting and rotating credentials, delegating privileges, and monitoring privileged session activity are common and crucial lines of PAM defense, but the rapid proliferation of threats has elevated the importance of other PAM concepts, such as least privilege, application control, privileged user analytics, and risk-based session monitoring. Insight into what happens during privileged access is equally important, so discovery of assets, tracking of administrative accounts, and monitoring and auditing of user and machine privileges must be part of an organization’s security strategy.