Security News > 2020 > June > How do industry verticals shape IAM priorities?

IAM priorities differ by industry vertical, and a one-size-fits-all approach to IAM doesn't work when every industry and business within that industry is unique, according to LastPass and Vanson Bourne.

Each industry vertical has unique business needs, and as a result has different areas of focus when it comes to their IAM program.

35 percent of IT professionals in this industry say hackers have gained access to their organizations in the past, which is not surprising given financial institutions experience the highest cybercrime costs out of all verticals at an average of $18.3 million per year.

IT focused on IAM security benefits and prioritizes MFA. As information technology businesses are close to IAM software and managing customer's data, it's clear their relationship with technology impacts their IAM strategy.

Mass communication companies work with an array of external consultants to execute their programs, which leads to a wide array of users, both internally and externally, accessing business resources which complicates IAM. 34 percent of IT professionals in this industry say managing user access is important to their organization, compared to the overall average of all industries.

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