Best Identity Management Software

Contributor, Benzinga

Identity and access management (IAM) software is widely used by businesses to control access to corporate resources. The software improves security, employee productivity and lowers costs while managing user identities and credentials.

The purpose of an identity management system is to find out who the user is and if it’s a real user. It also authorizes documents and transactions with e-ID.

Because of the number of IAM options available, sometimes selecting the right one can be a daunting task. Benzinga’s got your back. Check out the top 5 IAM software recommendations based on functionality and pricing so that you can choose the software that works for you.

1. Best for Ease of Use: Okta

Known for its ease of use and support, Okta Identity Management is a popular tool that is simple to set up and does not require a lot of technical knowledge from the user. It provides universal directory services, single sign-ons, strong authentication, provisioning, workflow and reporting. 

Okta provides MDM and phone-as-a-token authentication capabilities for multifactor authentication policy implementation. It also supports single-click passwords syncing and seamlessly integrates its software with existing business systems.

Pricing: $2 and up

Mobile app? Yes

2. Best for Powerful Single Sign-On: OneLogin

OneLogin is a cloud-based authentication system that makes it easy for organizations to secure digital assets and users. Its powerful single sign-on capabilities can handle multiple applications at once with multitenant architecture.

The system works well with internal and public applications. It also features access request management, account management, compliance regulation, password management, user monitoring and role management. It also features 24/7 tech support through the website in case of any trouble from the user’s end. 

Pricing: $2 and up

Mobile app? Yes

3. Best for Range of Users: Microsoft Azure

Microsoft Azure Active Directory (Azure AD) is a cloud-based identity and IAM solution that can manage users, printers and GPOs. Azure AD is used for employees and Azure AD B2B for guest users and external partners. AD B2C controls how you sign up, sign in and manage your profile when you use your applications.

It has several features such as Azure multi-factor authentication, single sign-on, B2B collaboration controls, self-service password and more. It allows centralized administration of users through different locations and offers comprehensive OU management through a single interface.

Pricing: $6 and up

Mobile app? Yes

4. Best for Reliability: LogMeIn

LogMeIn Inc. is a pioneer in remote work technology and a driving force behind today’s work-from-anywhere movement. It has tens of millions of active users, more than 3,500 global employees, over $1.3 billion in annual revenue 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 a business. 

LogMeIn Pro is mainly used by large organizations that operate on a work-from-home basis. Since it is focused on remote working, users can work on their own documents and files, either by themselves or in collaboration with teams, without comprising data access to the rest of the business.

LastPass is a popular password manager known for its ease-of-use and range of functionalities. It uses the industry-standard AES 256-bit encryption and also offers multi-factor authentication (MFA) which allows users to access their account using a smartphone or fingerprint.

Pricing: LogMein Pro starts at $349.99 per year and LastPass varies between $3 to $8 per user, billed monthly

Mobile app? Yes

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 has a business-friendly UI. Vault enables you to securely store, share and manage passwords anywhere and also lets you share passwords with team members.

For multiple vaults, the platform offers support through Chambers, which can provide permission to certain team members to certain vaults. It is also useful for administrators as they can set their own password protocols. For example, you can set a 15-character alphanumeric password with lowercase and uppercase letters that change every month. 

The free plan offers basic identity management tools with limited functionality. The top-end, enterprise-level plan has a monthly subscription of $7 per user.

Pricing: $0 to $7 per month

Mobile app? Yes

Important Features of Identity Management Software

Single Sign-On 

This refers to streamlining the process of signing on to all business-related apps. SSO helps a company’s IT admins monitor their employees’ access to company-related apps and permissions as well as easily provision and de-provision them.

Multi-Factor Authentication

MFA offers an extra layer of security. This works better than normal passwords that can be compromised. It consists of one-time codes created by apps on your phone or physical keys, such as Yubikeys, which you plug into your computer and use to gain access when you try to log in.

Data Storage On-Site or Cloud

Most small and medium-sized enterprises lack the space to have a server rack on-premises. Outsourcing the job to an identity access system not only helps with security but saves time and money.

Role-Based Access

Much like the single sign-on functionality, these tools allow administrators to set access permissions depending on the level of access that a given employee has. This allows sensitive information to be seen by employees that it is relevant for and denies anyone else who attempts to access it.

Benefits of Identity Management Software

Easy Accessibility

Users need to be able to use services and resources at all times. IAM systems eliminate barriers for users and allow access to any platform with limits used their IDs. Enterprises can add secure access parameters to define appropriate access based on device type, date and location.  

Improves Synergy

Normally when organizations try to stay connected with multiple departments, there’s some level of security risk. Using a good IAM system can encourage the connection between the different parts of an organization as it can eliminate security threats and guarantee correct administration. It also ensures better productivity as it allows quick delivery of access for new personnel and access to all components of the system.

Optimizes User Experience

It can be challenging to remember multiple usernames and passwords to access social networks, banks and other services. IAM makes the process easy for a user to operate while maintaining a high level of security. For example, SSO allows users to access different apps with a unified authentication procedure.

Secures Brand

Security breaches are common and hamper the brand of any organization. Adopting IAM software can improve the level of trust customers have in your brand. It eliminates the risk of a security breach and makes sure that you are free from any unnecessary attention that could hamper project privacy.

Comprehensive Analytics

Analytics are important in identity management as it reveals how users access and interact with networks. This provides important information for clarifying roles and honing access policies. Potential threats and vulnerabilities can be fixed immediately with comprehensive analytics because it reveals direct correlations between user identities and security incidents.

Fast Incident Alerts and Responses

Breach activity doesn’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 damage that can be caused by suspicious behavior activity. As soon as a breach is detected, the system automatically responds with the necessary defense as and sends an alert to the security team. 

Cost of Identity Management

Identity management systems vary depending on the size of your business as the requirement varies. The bigger the company, the more complex the features and pricing. 

For small businesses: Starting at $100 per year 

For mid-sized businesses: Between $500 and $10,000 per year

For large businesses: Starting at $17,000 per year

Find the Best Identity Management Software for your Needs

An identity management system is an excellent tool for organizations that are looking to maintain data security and manage access. Manually, this process is too intricate to handle. Businesses opt for identity management software because it ensures adequate security and smooth function within the organization.

Most SaaS companies that offer identity management have multiple plans — free to pro. Choose the best plan to suit your needs and protect your assets.

Best Identity Management Software Methodology

Benzinga analyzed the top identity management software by industry and winnowed down the list to include those with the best attributes. We prioritized pricing, features and scalability. We also considered the availability of a mobile app and consumer reviews.