IAM – How Can I Maximize Spend
Highlights of Simeio’s May 6th “Ask Me Anything Coffee Talk Series”
Last Wednesday, Simeio held its third “Ask Me Anything Coffee Talk Series”. The topic was “How Can I Maximize the Value of my IAM Solutions?”. The session hosts were Rob Streets, Account Director Midwest and Ohio Valley, and James Quick, Director of Solution Advisory at Simeio Solutions. Here are some highlights from the fascinating Q&A.
How has IAM been impacted by the Covid-19 crisis?
While IT budgets, including IAM, have been constricted due to business curtailment, the need to manage access to corporate assets remains critical. IAM vendors have built many new features, functions, and use cases. Some of these may overlap with other products. This is a good time to evaluate your product mix and consolidate it as appropriate to save costs.
How can my organization get more functionality out of our existing IAM systems, for less money?
One of the best ways to get more functionality and return on investment is to integrate IAM with more applications across the enterprise. We’ve seen many businesses only implement a hand-full of applications. This limits the investment value IAM can achieve. By automating provisioning and de-provisioning on more applications, you reduce the continuous manual workload, saving time and money.
When you centralize identity management into a single platform, with as many applications as possible, you get a view into your enterprise software licenses. This visibility helps you reduce and recycle licenses. By leveraging your identity solution, you can track orphaned identities from contractors and employees who are no longer with the company, and turn those licenses off. This puts money back to work for the company.
If our IAM budget has been reduced, where should we spend our dollars?
While every organization is at a different level of maturity, and each has its own requirements, a good place to start is with the base functionality. For example, centralized identity management and privileged account management, to ensure the “keys to the kingdom” are under control.
Next, look at key areas, like identity governance and access management. You want to prioritize IAM based on risk factors. The idea that identity is the new perimeter is truer today than we could have imagined, even six months ago. In today’s business environment, with so many working from home, threat surfaces have expanded exponentially, with home networks with personal phones, computers, and printers. This is where identity governance and user identity management are critical.
Lastly, consider moving more systems, applications, and IAM out of the data center and into the cloud.
How do we justify IAM costs to the C-suite and the board?
The first recommendation is to demonstrate how IAM reduces risk. For example, show a report of terminated employees, and the percentage of applications across the enterprise they can no longer access. Identity governance can quickly evaluate risk and its potential impact on the company.
Secondly, demonstrate how IGA contains costs. Rather than having management see IAM as a cost center, let them see how it reduces risk and contains costs. A dashboard that shows how automatic provisioning and de-provisioning enables users to get their applications faster, will help management see the time and cost savings.
Automating ticket requests, reducing licensing costs, and transitioning from on-premises to the cloud, bring significant cost savings. Many businesses don’t have the time and resources to put together a current state analysis and compare it to future costs. This analysis helps to find cost reductions and identifies areas that can run more efficiently. As a value-add IAM solution provider, this is an area where Simeio can help.
We just scratched the surface of this Coffee Talk. If you want to learn more, you can watch this and other on-demand Coffee Talk sessions at https://www.brighttalk.com/channel/17142/.
We hope you can join our next Coffee Talk where you can chat with IAM experts, ask questions, and gain insights into how you can lower operational costs and achieve greater security and privacy using IAM. Click here to sign-up.