The Impact of Identity
We champion identity so you can capture real business value
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This is one of the most important metrics for most business leaders, and identity plays a big role. More sign-ons mean more interactions. More registrations mean more customers. Better experiences mean greater customer loyalty. All of these things generate revenue.
New customers mean more revenue. Period. Since each customer must complete a registration process to access your products and services, this becomes a critical touchpoint. Identity can help you remove the friction from this important first impression.
Every interaction has the potential to drive a customer away, and the risk increases when the experience is confusing or inefficient. Identity makes customer experiences easy and enjoyable with single sign-on, passwordless authentication and personalized interactions.
Every interaction with your brand is worth something. Customers are more likely to continue interacting with a brand that uses identity to deliver extraordinary experiences, from registration to self-service to privacy to personalization.
Customer lifetime value represents how much a customer is worth over the course of all their interactions with a brand. Identity enables personalized multi-channel experiences and ensures the security and privacy of customer data, enticing your customers back again and again.
IT Value
Every password-related helpdesk ticket takes IT time and effort to get the employee moving again. Through automation and self-service capabilities, identity drives down password reset ticket volume, giving time back to your employees and IT for more valuable work.
Over time, the TCO of legacy IAM systems goes up. IAM solutions with support for modern architecture and open standards may appear to cost more up front, but you’ll see dramatic savings on integrations, maintenance and support.
How many hours do your employees waste on passwords and trying to access resources? Single sign-on with one-click access to all applications and self-service password reset give them that time back for more valuable work and fewer interruptions.
A data breach could cost you millions and have far-reaching consequences. Identity solutions reduce your risk of a breach by enabling multi-factor authentication, Zero Trust security posture, a smaller attack surface and reduced shadow IT.
Your business teams don’t like to wait for IT. Improve time to value for business applications and help your enterprise move faster by leveraging identity solutions that embrace cloud, APIs, rapid integration, DevOps and automation.
Be an Identity Champion for Your Business
Identity can help you drive revenue and reduce costs, provide an exceptional experience for both workforce and customers, and protect your business from security and privacy threats. Developing an understanding of how identity can move the needle for both business and IT leaders can help you gain recognition, funding and support for your initiatives.
Footnotes:
1 https://www.xminstitute.com/research/2020-roi-cx/
2 https://www.helpscout.com/75-customer-service-facts-quotes-statistics/
3 https://payspacemagazine.com/retail/one-bad-experience-would-stop-shoppers-returning-to-a-brand/
4 https://cmo.adobe.com/articles/2017/3/loyalty-mind-blowing-stats-tlp.html#gs.ah0xuy
5 https://securityboulevard.com/2020/02/eliminate-password-reset-tickets-to-increase-profits/
6 https://www.yubico.com/wp-content/uploads/2019/01/Ponemon-Report-Infographic.pdf
7 https://www.ibm.com/security/data-breach
8 https://dmexco.com/press/corona-pandemic-will-strengthen-digital-economy
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