NextGen IAM – Your Catalyst For Digital Transformation
New entrants in the market are taking a digital first strategy by embodying digital processes upfront. Quite a few of the new kids on the block have adopted a completely radical approach to solving an existing problem by going digital. This innovative approach has given these companies a significant edge. Uber, Ola are good examples. The older kids (elephants trying to dance – no pun intended) are also trying to undergo a digital transformation. Whether one is new or old, it is important to get ones digital strategy right. And Identity and Access Management (IAM) solutions are the starting points to build an effective digital strategy for an organization.
Traditionally, IAM systems enable the right individuals to access the right resources at the right times for the right reasons. These systems though focused on productivity and security, had less focus on user experience. This was mainly due to the fact that traditional IAM systems were confined to employees in the organization and thus mainly inward facing.
Digital businesses strive to focus on customer experience, optimize operations to increase productivity, reduce costs, increase margins and cater to evolving business needs.
Note: ’Customer Experience’ to be on the forefront.
Firstly, Traditional IAM systems are mostly developed in-house and are firstly not geared for the scale to support large customer base. For example, Telecom giants in the US such as Verizon Wireless has 142 million subscribers while AT&T has 131 million subscribers.
Secondly traditional IAM systems do not strike a balance between customer experience and cyber security. It is important to note the friction that exists between these two dimensions – typically as security increases, the customer experience takes a hit.
With the advent of newer technologies such as Cloud, Internet of Things (IoT), there are multiple devices with multiple endpoints to be managed. With security breaches happening every other day, there must be a systematic approach to mitigate risks. And our experience shows that implementing a NextGen IAM strategy is the most effective way towards achieving this. NextGen IAM can provide more substantial value to an organization when integrated with existing organizational processes such as Self-service portals, Governance and Compliance processes, Service Management, Network security (NetSec), Privileged Identity management, Cloud Access mechanisms, Analytics, and so on. NextGen IAM systems make use of intelligence-based, risks-based or adaptive decision making strategies in all aspects of cyber security without compromising on user experience. With simple and flexible customer interface, while still meeting business demands at low IT costs, NextGen IAM system lend themselves to digital transformation.
So implementing a Next Gen IAM system is the only way forward towards digitizing your organization.