IAM (Identity and Access Management) software is widely used by organizations to control access to corporate resources. The software improves security, employee productivity, and lowers costs while maintaining user identities and credentials.
The purpose of an identity management system is to find out who the user is and if it is a real user. It also authorizes documents and transactions with E-ID.
With the number of IAM options available, choosing the right one can be a daunting task at times. Benzinga has your back. Read the top five IAM software recommendations based on functionality and pricing to help you choose the software that’s right for you.
1. Best for Ease of Use: Okta
Okta Identity Management is a popular tool that is easy to set up and does not require a lot of technical knowledge from the user. It offers universal directory services, single sign-on, strong authentication, provisioning, workflow, and reporting.
Okta provides MDM and phone-as-token authentication capabilities for implementing multi-factor authentication policies. It also supports one-click password synchronization and seamlessly integrates its software with existing business systems.
Pricing: $ 2 and above
2. Best for powerful single sign-on: OneLogin
OneLogin is a cloud-based authentication system that companies can use to easily secure digital assets and users. The powerful single sign-on functions can process multiple applications at the same time with a multi-tenant architecture.
The system works well with both internal and public applications. It also provides access request management, account management, compliance provisions, password management, user monitoring, and role management. It also provides 24/7 technical support through the website in case of user problems.
Pricing: $ 2 and above
3. Best for users: Microsoft Azure
Microsoft Azure Active Directory (Azure AD) is a cloud-based identity and IAM solution that can be used to manage users, printers and group policy objects. Azure AD is used for employees and Azure AD B2B for guest users and external partners. AD B2C controls how you sign in, sign in, and manage your profile when using your applications.
It has various features like Azure multi-factor authentication, single sign-on, B2B collaboration controls, self-service password, and much more. It enables central administration of users across different locations and offers comprehensive OU management through a single interface.
Pricing: $ 6 and above
4. Best for Reliability: LogMeIn
LogMeIn Inc. is a pioneer in remote work technology and a driving force behind today’s movement from everywhere. The company has tens of millions of active users, more than 3,500 employees worldwide, annual sales of over $ 1.3 billion, and more than 2 million customers worldwide.
Some of its products include LogMeIn, LogMeIn Pro, and LastPass.
LogMeIn offers identity protection and SSO authentication solutions, depending on the size and needs of an organization.
LogMeIn Pro is primarily used by large organizations that work from home. With a focus on remote working, users can work on their own documents and files either on their own or in collaboration with teams, without needing to access the rest of the company.
LastPass is a popular password manager known for its ease of use and functionality. It uses industry-standard AES 256-bit encryption and also offers multi-factor authentication (MFA) that allows users to access their account using a smartphone or fingerprint.
Pricing: LogMein Pro starts at $ 349.99 per year and LastPass varies from $ 3 to $ 8 per user and is billed monthly
5. Best for Value: Zoho Vault
Zoho Vault is one of the business apps offered by Zoho. It offers a comprehensive suite of password management features and a business friendly user interface. With Vault, you can securely store, share, and manage passwords, and share passwords with team members, anywhere.
For multiple vaults, the platform offers support from Chambers, who can give certain team members permission for certain vaults. This is also useful for administrators as they can set their own password protocols. For example, you can set a 15-digit alphanumeric password with lowercase and uppercase letters that change every month.
The free plan provides basic identity management tools with limited functionality. The enterprise-level top-end plan has a monthly subscription of $ 7 per user.
Pricing: $ 0 to $ 7 per month
Important functions of the identity management software
This refers to optimizing the login process for all business related apps. SSO helps a company’s IT administrators to monitor their employees’ access to company-related apps and authorizations and to easily provide and deactivate them.
MFA provides an additional layer of security. This works better than regular passwords that can be compromised. It’s made up of one-time codes created by apps on your phone or physical keys like Yubikeys that you plug into your computer and use to gain access when you try to log in.
Data storage on site or in the cloud
Most small and medium-sized businesses lack the space for a local server rack. Outsourcing the job to an identity access system not only helps with security, it also saves time and money.
Similar to the single sign-on function, administrators can use these tools to set access permissions that depend on the access level of a specific employee. This way, sensitive information can be seen by employees to whom it is relevant and anyone else who tries to access it will be denied.
Advantages of identity management software
Users must be able to use services and resources at all times. IAM systems remove barriers for users and allow access to any platform with restrictions on the use of their IDs. Organizations can add secure access parameters to define appropriate access based on device type, date and location.
Enhances the synergy
When companies try to keep in touch with multiple departments, there is usually some security risk. Using a good IAM system can foster the connection between the different parts of a business by eliminating security threats and ensuring proper management. It also makes for better productivity as it allows new employees to quickly provide access and gain access to all components of the system.
Optimizes the user experience
It can be difficult to remember multiple usernames and passwords to access social networks, banks, and other services. IAM makes it easier for the user to operate the process while maintaining a high level of security. With SSO, for example, users can access different apps with a uniform authentication method.
Security breaches are common and undermine a company’s brand. Introducing IAM software can increase customer confidence in your brand. It eliminates the risk of a security breach and ensures you don’t receive unnecessary attention that could compromise the project’s privacy.
Analytics are important for identity management as they show how users access and interact with networks. Here you will find important information about clarifying roles and improving access policies. Potential threats and vulnerabilities can be resolved immediately with comprehensive analyzes, as direct correlations between user identities and security incidents are uncovered.
Fast incident alerts and responses
Violation activities don’t always happen overnight. It can go undetected for months if there are no IAM systems in place. Using the right tools can help prevent the harm that can be caused by suspicious behavioral activity. As soon as a violation is detected, the system automatically responds with the necessary defense and sends an alert to the security team.
Identity Management Costs
Identity management systems vary depending on the size of your company, depending on the requirements. The bigger the company, the more complex the features and prices.
For small businesses: Starting at $ 100 per year
For medium-sized companies: Between $ 500 and $ 10,000 per year
For large companies: Starting at $ 17,000 per year
Find the best identity management software for your needs
An identity management system is a great tool for companies that want to ensure data security and manage access. This process is too complicated to handle manually. Companies choose identity management software because it ensures adequate security and smooth functioning within the company.
Most SaaS companies that offer identity management have multiple plans – free for professionals. Choose the best plan that fits your needs and protect your wealth.
Best identity management software methodology
Benzinga analyzed the top identity management software by industry and summarized the list to include those with the best attributes. We prioritized pricing, features, and scalability. We also considered mobile app availability and customer reviews.