Privileged Access Management (PAM) is a cybersecurity approach that controls elevated access across an IT environment. By enforcing least privilege—limiting access to the essentials—PAM helps reduce the risk of external attacks and insider threats. Also known as privileged account management, it’s considered essential for strong cybersecurity and a high return on investment. Working hand-in-hand with identity and access management (IAM), PAM provides precise control, visibility, and auditability over credentials and privileges. IAM ensures the right user has the right access, while PAM adds extra control over privileged activities, making it a crucial tool for robust cybersecurity.