Posted by Bangalore: Cross Identity has announced the launch of its Privileged Identity and Access Management (PIAM) solution.
PIAM solution – a unified platform
The Identity and Access Management (IAM) solutions provider claimed that its PIAM solution is the industry’s first software offering that is a unified platform for access management, access governance and administration for privileged users.
PIAM distinguishes itself by offering a holistic approach to privileged user management, including provisioning/de-provisioning, access requests to applications, and entitlements.
The software includes complete access governance functions, such as access certifications and Segregation of Duties (SOD) management. Its user-friendly interface provides a secure and cost-effective solution, consolidating control over privileged accounts and streamlining management across diverse systems.
The global Privileged Identity Management (PIM) market size is expected to reach $ 8476.6 million by 2029, growing at a CAGR of 26.2% during the forecast period from 2023 to 2029, according to Valuates Reports
The software offering brings simplicity, security, and affordability to the forefront of privileged identity and access management.
Benefits of PIAM solution:
- Breaks down silos within the organisation for improved collaboration
- Automates privileged access, increasing operational efficiency
- Converges PAM and IAM into one unified platform for simplified management
- Provides just-in-time access to enhance security measures
- Offers a significant advantage in cloud security
“Definition of Privileged user has undergone a significant expansion. Initially confined to those with core IT Infrastructure access, it now encompasses individuals utilising critical business applications and granular accesses,” said Binod Singh, Chairman and CEO – Cross Identity.
“Despite comprising less than 20% of an organisation, these users pose over 60% of associated risks. The introduction of PIAM solution will bridge this gap, revolutionising privileged user management beyond traditional PAM,” added Singh.
“Our PIAM feature is a game-changer, filling the existing gaps in privileged user management and setting a new industry standard. We believe this advancement will significantly enhance the security posture of organizations, providing them with the tools they need in today’s complex cybersecurity landscape,” commented Pramod Bhaskar, CTO and CISO – Cross Identity.
Cross Identity’s PIAM represents a major leap forward in privileged identity and access management, empowering organisations to navigate the complexities of today’s cybersecurity landscape with confidence.