Saving Money With Identity Access Management

With the rising costs of infrastructural and maintenance issues, many institutions – both private and governmental – are facing funding situations that result in renovations and necessary upkeeps being delayed. The department that takes the biggest cut however is almost always the IT department. Given the dire need to save money and cut down on costs, how can corporations make sure that their digital security is not compromised?

As a result, the adoption of modern identity and access management (IAM) services has become an integral strategy for organisations to remain competitive without going beyond their budget. The implementation of IAM products allow organisations to free up limited resources, granting them the time and effort to concentrate on larger-scale projects and initiatives. How do IAM solutions help in reducing expenditure?

Firstly, modern IAM systems enhance the productivity levels of the workplace, as they allow the existing employees to do more. At the beginning of every work year, it can take many weeks, even months, for new user accounts to be created and provisioned with the relevant access privileges. Modern IAM solutions streamlines these processes of account provisioning and deprovisioning, without posing any interruptions to the company’s workflow. This alleviates the amount of administrative workload on the IT team as such tasks are now automated. Such a solution is especially advantageous to organisations such as educational institutions and public sector corporations with a large population of users. Additionally, real-time provisioning means that new users can obtain instant access to the specific resources they need for their job.

Secondly, now that administration is taken off the shoulders of the IT department, it is delegated to those in power or with responsibility. This ensures that people in charge of a specific access privilege are able to make decisions about it, without having to go through the IT department. With the presence of an IAM software, employers can take advantage of the self-service features such as password resets. A huge bulk of IT costs can be traced to the IT department’s administrative workload of having to manage password reset cases. With the adoption of modern IAM, corporations can see a drastic reduction in help desk costs and password management cases.

Thirdly, corporations are given the opportunity to consolidate to a single platform or vendor, with the integration of IAM. This saves a lot of money especially for organisations that have been using a legacy system. By consolidating to a single platform, not only is it more cost-effective, but it is also convenient as one IAM solution will have multi-factor authentication and access control management. As such, time and energy is saved which can be transferred and channelled to other plans and projections.

Finally, organisations can keep the issue of software license counts within control. IT departments are often found playing catch-up to prevent the business from spending on unnecessary software licenses. Such an issue is no longer a worry with modern IAM in place. When an employee exits the company, their user account privileges are automatically removed, and the license is cancelled. Excess collection of licenses over time are therefore prevented.

Many institutions can save money by adopting IAM solutions.