Identity & Access Management can deliver significant benefits to companies and organizations. A well developed and properly executed IAM program can result in:
- Competitive Advantage — Modern organizations, including governments, need to meet the needs and expectations of their consumers. IAM allows companies to identify customers, and governments to identify stakeholders, in ways that could not be done previously. With effective IAM solutions in place, organizations can offer a greater depth of online services with better privacy protection and stronger information security.
- Greater Compliance — Information security is driven by the need to be compliant. It is the auditor’s job to point out where information is at risk, especially if this information is personally identifiable in nature. IAM, by definition, deals with personal information, and IAM systems can provide safe access to highly sensitive data about individuals. Auditors like these systems, and organizations that are looking to reduce ‘audit stress’ benefit from their implementation.
- Reduced Costs — In today’s economy, information technology needs to show a return on investment (ROI) for it to be considered for implementation. IAM can help to reduce costs by reducing redundancy, streamlining business processes and lowering risk.
- Increased Partnering — Organizations that partner need efficient ways to provide online access to each other’s workforces. Federated Identity Management allows user accounts (credentials) in one company to be trusted and used in another. This in turn leads to single sign-on for large sets of shared business applications and databases. The effective use of Federated ID can improve efficiency, increase loyalty and deliver tangible cost benefits.