Escape Hidden Implementation Costs with AccessFlow

Implementing an identity and access management (IAM) solution has become crucial for organizations to safeguard important business data, systems, applications, etc. As per a recent Gartner report, a company with 10,000 employees can achieve an ROI of almost 300 percent and save $3.5 million over the course of three years by implementing an efficient access management solution for managing user access and permissions.

However, while the notion of transforming the IAM approach is beneficial and critical, it also impacts the business’ bottom line – it not only requires significant monetary investment but also calls for sweeping change in the existing legacy platform. Hence, it is necessary to make an informed decision by selecting the right technology and advanced tools that accommodate the growing complexity of managing user identities and access rights in contemporary business networks and breaks free from hidden implementation costs.

To calculate the overall cost of implementing IAM, below are two types of costs that need to be considered.

• Direct cost includes the platform or service that is selected, any necessary physical infrastructure, an increase in IT overhead, and the hiring and training of new staff.
• Indirect costs include identity security, improved compliance, decreased IT administrative burdens, decreased breach-related costs, decreased customer risk, and error avoidance.

Let’s look at several factors that add to the hidden costs in implementing IAM or IGA solutions including:

• Integration Cost
• Maintenance and Management Cost
• Customization Cost
• Product License Cost
• Ongoing Support Cost
• Software Infrastructure Cost, and
• Maintenance and Management Cost

The Impact of Misaligned Budgets is Real!

Although the initial implementation of an access management system necessitates spending time on assessments and audits, buying new tools and equipment, and updating security policies and procedures, the operational advantages of an IAM solution and the return on investment in identity and access management make the effort worthwhile.

In the past, a lot of identity governance solutions were unnecessarily complicated and difficult to configure appropriately. Due to this and the associated cost, organizations struggled to understand the value they would receive from investing in an IGA solution. This also increased the chances of discouraging them to go ahead with the implementation and stick with their regular manual access management, which involves high risk.

Budget limitations: Having spent a significant amount of money on various critical infrastructures, staffing, research, and development, it is obvious that organizations face certain budget limitations when it comes to choosing a solution that is effective and efficiently capable of meeting their needs with reduced costs for licensing, implementation, and maintenance of it. By striking the right balance between functionality and affordability, organizations can optimize their budget allocation and ensure a sustainable and impactful IGA solution that aligns with their financial constraints.

Continual increase in the cost of ownership: While the initial quote for an IGA solution may appear favorable, organizations must be mindful of the ongoing increase in the cost of ownership. Beyond the upfront expenses, there are various costs that need to be considered. These include development costs, infrastructure costs, deployment costs, maintenance and support costs, licensing and subscription costs, as well as security and compliance costs. Adding up all these expenses can take a hit at an organization’s budget set aside for including IAM or IGA in their access management strategy. By proactively addressing the full spectrum of ownership costs, organizations can make informed decisions and effectively manage their budget without compromising on the effectiveness and efficiency of their access management solution.

Return on investment (ROI): If ownership cost is more and the solution is heavily dependent on technical needs then achieving quick ROI becomes even more difficult. Acquiring an IGA solution involves more than just procuring and installing software. While cloud-architected IGA solutions can offer substantial resource and cost savings, many companies underestimate the efforts and costs associated with legacy IGA compared to cloud-based alternatives. By embracing the potential savings and efficiencies offered by modern IGA technologies, organizations can maximize their ROI and unlock long-term value while minimizing technical dependencies.

Higher maintenance costs: Beyond the initial expenses of licenses and implementation, organizations often encounter higher maintenance costs encompassing ongoing upgrades, bug fixes, and technical support – imposing additional dependency on technical experts. While businesses usually account for direct expenses, few are aware of how challenging it is to evaluate management and maintenance costs – this involves expenditure on apps, connectors, and professional services that are often overlooked. Hence, ensuring that the chosen IGA solution remains sustainable and financially viable is important to optimize investment and minimize any unexpected financial burdens.

Inflexibility: Many IGA solutions available in the market come with a major drawback – their inability to be flexible. As they often involve expensive development or customization costs, it poses a challenge when it comes to adapting to the ever-changing business requirements and hinders the organization’s growth and agility – preventing it from effectively managing user access and permissions in a dynamic business landscape.

AccessFlow IGA – Your Solution to Overcome Cost Limitations

When it comes to hidden implementation costs, AccessFlow is your go-to solution. Built on ServiceNow, the application involves license and implementation costs only, which means no other hidden price is involved. In addition, as the AccessFlow portal is easy to use and not doesn’t require in-depth technical know-how, organizations are able to save the cost associated with hiring technically skilled individuals for the operation of the application. Hence, if you are looking for a sturdy identity governance and administration solution that offers streamlined access management and improve compliance and security, AccessFlow is the answer.

To discover the power of AccessFlow, connect with us at information@iamaccessflow.com and learn how AccessFlow, a product built and certified on the ServiceNow platform, can streamline your Identity and Access Management Journey.