Why is identity and access management so important in preventing data breaches?

From securityboulevard.com

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At its core, identity and access management is really all about ensuring that a user’s identity is authenticated to a high degree of assurance, and that the user is authorized to access just the right services he or she needs to be productive and efficient. It may sound simplistic, but that’s really it.

Access Management solutions provide authentication and authorization services and enforce user access policy to a company’s employees and customers across the web, mobile apps, and other digital channels. According to the2019 Verizon Data Breach Investigation Report, 80% of hacking-related data breaches involve compromised or weak credentials, and 29% of all breaches (regardless of the type of attack) involve the use of stolen credentials. Passwords are the main point of vulnerability. The more passwords you have to juggle and the more frequently you have to request or change access for lost or forgotten passwords, the larger the risk that your personal and professional data may be hacked.

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