PAM can prevent “shadow IT” within organizations. By enabling centralized control over privileged accounts, PAM can prevent employees from creating and using unauthorized accounts to access sensitive data or systems.
PAM can help organizations to reduce the risk of insider cyber-attacks. According to a 2022 Verizon report, 82% of incidents involved a human element, whether it was the use of stolen credentials, identity theft, misuse, or simple error. Through granular access control, session recording, and monitoring capabilities, PAM is an excellent solution for detecting and preventing accidental and malicious internal activity.
PAM can help organizations to save money on compliance costs. According to a Forrester Research study, companies that implement PAM can reduce their costs in this area by up to 50%, thanks to reduced audit costs and easier proof of compliance.