In a world where anyone can get hacked, your business needs the best database security options available. Corporate espionage and data breaches are more prevalent than ever, and it’s likely that your business can’t afford to deal with the consequences. In fact, data breaches on the corporate level cost more, too. According to a study by the Ponemon Institute, the average cost of a breach increased by 15% to $3.5 million from 2013 to 2014.

Prevention — in the form of database security solutions — is your best bet for keeping both your business and your clients safe. By using identity and access management (also called an IAM strategy), you’ll be reducing your company’s risk of security threats, as well as cutting costs and providing faster services to your customers. In case you aren’t yet convinced, here are just three reasons why your business should be using better database security tools:

Protection
Your business depends on protecting valuable information. If you currently have database security issues, you probably aren’t providing your clients or your system with the level of protection needed. At this point, clients expect that their personal, financial, and medical information will receive reliable protection from you. If you fail in this endeavor, you’ll not only be dealing with the cost of the breach, but will likely lose a great portion of your customer base. Even small businesses can be targets for security breaches.

When you take a chance with data protection, you’ll likely pay a huge price in the end. Because IAM systems force users to prove their identity and strictly limit user access, both you and your clients will be secure in the knowledge that information can be accessed only by authorized personnel.

Competition
Having better database security options puts you ahead of the competition. When you offer superior security, that’s a selling point for potential customers. We live much of our lives through technology; it’s no longer acceptable to be lacking in database protection. As this information becomes easier to access through malicious means, your company needs to stand out for the right reasons. If you have better data protection, you’ll win out over your rivals who don’t.

Reduced costs
Using an IAM strategy is simply more efficient. The platform manages the access of every user and eliminates the need for additional security measures. The platform automatically syncs with all devices that utilize the system, which means an administrator has to make an update only once for it to take effect across the system. All of this means you’ll be able to save both time and money that used to be dedicated to the maintenance of additional systems and redundant updates.

So if your current database security options are lacking, consider switching to identity access management. To find out more about how an IAM strategy can help your business, contact us today.