The importance of Identity Management cannot be understated. If your company has a solid identity management system in place, your company will be far more secure and it will make the business run smoother. But what does an identity management system really mean to a business? What are its different components and how do they impact your business?
Identity is the ability to think and act as someone else. It’s the right to use another person’s personal information without the permission of that person. When you have identity, it allows access to other people’s personal lives, their bank accounts, their medical records, and so much more. Identity can be considered a shield from crime because it allows you to go into areas that you would never venture into without proper access. But what happens when you don’t have the right control over the access to that “other” information?
There are many different layers of security to protect personal information. At the lowest level is the physical barrier of locking doors and entering controlled spaces. This is often the most economical and easiest way to secure a business environment. However, physical access is only part of the overall picture. You also need a comprehensive network of servers that allow for secure data exchanges.
The other layers of security include access control, fraud management, and recovery. With the right identity management system in place, you can prevent unauthorized access to data. An IDM provides the means for you and your employees to control all identity related activities such as the removal of identity documents and credit card information. The other major component of an IDM is the application service provider (ASP). This is a company or organization that works with you to facilitate secure data exchanges, such as with your banks and credit card companies. You also want these companies to be able to assist in the recovery of the identity information that you have lost.
An IDM provides the technological infrastructure for identity protection. You want your employees to be authorized to enter restricted areas, such as secured business sites. The control panels that are installed within the company also need to allow access by authorized personnel only. If you want all employees to be authorized to login to a network, you need IDM solutions that provide centralized permission for multiple user groups. In addition to the management of your company’s identity system, you also need to have a robust fraud control system in place.
Identity theft is a huge problem that has a significant impact on businesses large and small. Thousands of dollars are lost each year because of stolen identities. The costs incurred for replacing stolen identity documentation and passwords run into the thousands of dollars. Businesses often pay thousands of dollars to replace employee identification badges, as well as pay the cost of replacing cards used to gain access to secure areas of the business. It costs more than $2021 to replace a single credit card.
Preventing identity theft becomes much more complicated when you have multiple locations for your business. This creates a higher risk for someone to access your database at multiple locations. To prevent the theft of your company’s confidential information and data, you need centralized identity control. Identity control centers provide you with access to authorized individuals who must be involved with the processing of authorized identities. You can also have reporting procedures in place so that you can notify customers that their identities have been compromised, or have had their privacy breached.
Your company must have a comprehensive plan in place for identity management. Your plan should include identity theft prevention measures such as monitoring and tracking of logins and activity, the reporting of any illicit activity, the creation of custom ID badges for employees, and the reporting of any suspicious activity. The cost of identity management does not need to out-weigh the cost of protecting your company’s confidential information and data. Identity control services are available at affordable rates. There are many companies that offer these services, and with some easy online research, you can find one that offers a fair quote for its services.