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Why Access Management Matters In This Day and Age
Access management can be accurately described as a holistic way of managing a secure interaction within a specified system. By managing, I simply mean controlling, identifying, tracking as well as allowing access to authorized individuals. Those who aren’t authorized will automatically be shut out of the system for security reasons. Normally, Access Management (AM) is usually coupled with identity access management (IAM).
With identity access management, the security of the system is intensified in that it can now control different groups, roles, users, roles and so on. The latter therefore compliments access management which only caters for policies and roles. Feel free to check out One Identity for more information about access management and its importance. Here are the top five benefits associated with access management:
Reporting and auditing is made easier
Thanks to the fact that the login information can be stored in the system, it becomes a lot easier for auditing as well as reporting. This feature not only allows for the IT department to know exactly where an employee has signed in from but can also pinpoint the exact location of the area where a hacker is.
That’s in case an employee has the misfortune of having their credentials compromised. The IT people can also know the data that was compromised and therefore come up with the perfect solution to the breach. Running analytical reports has also been made easier thanks to access management apps.
User experience is definitely better
Let’s just be honest for a second. Writing passwords over and over again can be one hectic state of affairs, let alone remembering them. Thankfully, access management makes logins much easier by eliminating the whole nightmare. This is usually achieved by the system remembering your email and password.
Therefore, every single time you may want to get into the system, all you need to do is press enter and you’ll be good to go. The same goes when you have different passwords for different areas of the system. All you’ll need is to go to the area which you want to enter and click in.
Ensures more secure profiles
Just because the digital world keeps developing, such as Snapchat with a new snap kit, it is very important that businesses take access management with a grain of salt. Why is that? Because with every stride technology takes, so does the threats that come with it. But with good access management in place, you won’t have to worry about unauthorized access to your system.
Access management tools increase the level of productivity
Since access management allows your employers to gain secure access from any part of the world, it will become a tad easier for them to work even during their downtime. And when this happens, always expect the level of productivity to increase which is also a dream come true for most business owners.
Your IT costs will dramatically be reduced
With reliable access management installed in your system, you’ll find that most of the things, such as an internal help desk, will be eliminated. You can also have the system do analytics as well as extensive audit trails without having to rely on an IT technician who, you’ve guessed it, will want money for their services.
When all is said and done, access management is meant to improve the general efficiency in one particular system. It is, therefore, an incredible idea for you to not only have one on your system but also make sure that it is from a reliable provider. Having a good system can also come with additional features.
And the latter alone will ensure different users have different levels of access to the system, depending on their level on your organization. Besides making everything else easy within your organization, you’ll also stay easy knowing that your data is always secure from hackers. This is very good news, to say the least.
Once again, it is very important for you to think hard about incorporating access management in your business if you haven’t already. Also as mentioned above, having good access management in place will lower your IT expenditure which will, in turn, save your business a ton of money in both the short and the long run.
Lendo, a Saudi Arabia-based Shariah-compliant crowdlending marketplace, has signed a Memorandum of Understanding (MOU) today with J.P. Morgan to improve access to financing for small and medium-sized enterprises (SMEs) across the country.
The MOU was signed during 24 Fintech, a premier fintech event that brings together industry leaders, innovators, and investors in Riyadh.
J.P. Morgan and Lendo are working together on potential opportunities to support the SME sector in Saudi Arabia in growing and sustaining the remarkable demand in this market.
“This strategic collaboration with J.P. Morgan, a pioneer in the financial industry, marks a significant milestone for Lendo,” said Osama Alraee, CEO and co-founder of Lendo. “By combining our strengths, we’ll deliver cutting-edge financial solutions to SMEs, supporting their growth and contributing directly to the realization of Saudi Arabia’s Vision 2030.”
The SME financing landscape in MENA presents a substantial market opportunity as limited financial access continues to restrict the growth of the region’s businesses, with commercial banks hesitant to issue loans to SMEs at scale, resulting in a high percentage of declined financing requests annually.
The total SME financing gap in developing countries is estimated to be approximately $5.2 trillion, according to the International Finance Corporation (IFC).
Lendo’s debt crowdfunding platform aims to bridge the financing gap for SMEs, aligning with Saudi Vision 2030’s goal to significantly expand SME lending from 4% in 2018 to 20% by 2030.
According to the latest available report from the Saudi Central Bank (SAMA), the total value of debt crowdfunding in Saudi Arabia surged from SAR 1.4 million in 2019 to SAR 771 million in 2022, marking a remarkable growth.
Lendo raised SAR 132 million ($35.2 million) in total funding from leading investors, including the most recent Series B led by Sanabil Investments, a wholly-owned company by the Public Investment Fund (PIF).
Since its inception in December 2019, Saudi fintech Lendo has processed over 5,000 financing transactions on its platform, providing over SAR 2 billion ($600 million) in financing to SMEs and generating SAR 280 million ($74 million) in returns for investors.
TA Telecom, a prominent player in the Middle East’s tech sector, has unveiled AnteThink, an AI-driven tool designed to enhance decision-making processes for individuals and businesses alike.
With a history of influencing the tech landscape through various initiatives, including advanced mobile solutions, high-volume payment platforms, and ventures in e-commerce, fintech, and analytics, TA Telecom has carved a niche for itself. Serving a vast user base of 40 million and processing an impressive 15 billion transactions across its platforms, TA Telecom has cemented its position as a tech industry leader, with some of its ventures achieving the status of Y Combinator companies.
Established in 2000, TA Telecom has emerged as a prominent player in the technology sector. With over 40 million users and processing 15 billion transactions annually, TA Telecom has made a notable impact. Recognized for its contributions by the Financial Times and featured on Deloitte’s list of fastest-growing tech companies in EMEA, TA Telecom is known for its adaptability and forward-thinking approach in the ever-evolving global tech landscape.
Sameh Ibrahim, CEO of TA Telecom, highlights the potential of AnteThink: “AnteThink reflects our commitment to leverage technology for practical impact. It aims to provide clarity and confidence in decision-making, whether in the professional or personal sphere. AnteThink is a tool that can empower startup founders, executives, and individuals to make more informed choices, alleviating the stress and uncertainty often associated with critical decision-making.”
Mostafa Ashour, CEO of Y Combinator-backed startup NowPay, shared his perspective on AnteThink: “AnteThink transformed our strategic planning, allowing us to explore various scenarios and prepare for different outcomes. It has strengthened our decision-making process, helping us navigate the complexities of the business landscape.”
AnteThink embodies TA Telecom’s commitment to innovation, focusing on supporting the startup ecosystem. The tool is tailored to help leaders and executives navigate the complexities of business management and strategic development by providing a clear picture of potential outcomes.
Key Features of AnteThink include:
1. Second Order Mode: Offering a comprehensive analysis of broader impacts, fostering a strategic mindset for long-term success.
2. Optionality Mode: Enabling detailed evaluation and comparison of different choices to ensure decisions align with strategic objectives and values.
3. Inversion Mode: Focusing on identifying and mitigating potential risks, thereby strengthening risk management strategies.
Credit: Antethink
AnteThink’s advanced AI technology aims to assist decision-makers with insightful analytics, offering guidance through the decision-making process.
Selina Bieber, the Senior Director of Global Markets at GoDaddy, has predicted a significant increase in Egypt’s e-commerce revenue. By 2028, it could reach $9.88 billion.
Godaddy is forming strategic partnerships and launching initiatives to help local entrepreneurs. These efforts align with Egypt’s digital transformation goals and its Vision 2030.
In an interview with the Arabic financial news “Amwal Al Ghad,” Bieber spoke about GoDaddy’s plans and how they match Egypt’s 2023 strategy. She highlighted the company’s aim to provide effective, easy-to-use digital tools and services. By 2024, GoDaddy wants to serve more customers in Egypt by making its digital tools more widespread.
The company is working closely with the Egyptian government, especially the Ministry of Planning. They are offering training programs to improve the digital skills of startups and existing businesses. GoDaddy’s services in Egypt include domain registration, web hosting, e-commerce solutions, and digital marketing tools.
Recent surveys support Bieber’s positive outlook for e-commerce in Egypt. They show a clear trend towards digital strategies among small businesses. Many are realizing the importance of having an online presence for their growth and success.
As GoDaddy continues its partnerships and supports government digital initiatives, its influence on Egypt’s digital landscape is growing. The company is committed to sustainability and reducing its carbon footprint. It aims not just for business growth but also to contribute to a sustainable and thriving digital economy in Egypt.
The 2028 projection indicates a vast potential for e-commerce, with GoDaddy playing a key role in this digital evolution.
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