What is Customer IAM?
Customer IAM is also known as Customer Identity Access Management (IAM) and refers to the management of customer identities and profile data. CIAM is also what allows organisations to control customer access to services and applications owned by the company.
Robust CIAM systems normally offer a combination of various features that include self-service account management, customer registration, single sign-on (SSO) functionality, consent and preference management, multifactor authentication (MFA) mechanisms, and directory services. Implementing an appropriate customer IAM solution for the company will ensure that customer experience will be secured as well as seamless, with high performance and scale regardless of which platform the customer utilises to interact with the organisation. For most businesses and brands, their goal is to transform simple customer experiences into customer engagement that is true and it is through the presence of customer IAM that they can reach this goal.
Why is Customer IAM important?
Customers are people who hold purchasing power and have the liberty to choose whichever brand or company they would like to use their purchasing power on. If the experience is not ideal or does not meet the customer’s standards, they would simply leave and seek out other competing brands and enterprises to do business with. Having great customer engagement and customer experience is therefore a critical factor that enables organisations to stand out from their competitors and gain an advantageous edge within the industry. Statistics have proven that customers are willing to pay more for enhanced customer experience and when their expectations are met by the organisation.
Having top-notch security is another deal breaking factor when it comes to gaining the trust of customers. Data and security breaches make the headlines and will cause many customers to lose trust in a company. Organisations who have suffered from compromising of security and data lose a good majority of their customer base almost immediately. With customer IAM, organisations can augment the experience of customer engagement, while maintaining IT security.
While most organisations already have modern IAM systems and services in place for employee management, those systems are not the same as customer IAM solutions. Customer identities are managed differently than that of employee identities, and employee IAM systems usually lack the features that balance customer experience with customer security.
With the introduction of mobile devices, IoT devices, and various external applications and vendors, the scale of customer access has expanded over the years. Customer IAM unifies the profiles of customers and simplifies access in order for companies to engage with potential customers. This ensures personalised interactions between customers and brands, as well as, consistent customer experiences across different channels.
As the scale and intensity of cyber attacks on organisations become more frequent and relentless, there is a crucial need to secure valuable customer information and personal data. With customer IAM solutions, multifactor authentication among other robust layers of security will reduce the risk of security breaches. Companies can thus reduce the chances of losing the trust of their customer base, and continue to bolster their reputation.