“Identity and Access Management affects everyone and everything, it isn’t an IT problem but a business problem.” – CISO, Bank
In addition to the above over the past 24 months, organisations have been forced to move a significant portion of their workforce to remote work in a rapidly changing threat landscape. This has increased the need for a strong Identity and Access Management (IAM) strategy for every organisation.
What is Identity Management?
Identity management solutions establish core functions such as user identity stores, definition of roles, password management, account provisioning, and deprovisioning activities and auditing capabilities. For an IAM solution to adequately address an organisation’s unique challenges, a comprehensive strategy is required to align business processes, IAM technology, and the desired outcomes.
However, Identity management is more than just a technology project, it’s an ongoing key function and a foundational element of the modern business. It is more than just user accounts and access; it speaks to the fundamental building blocks of an organisation. This includes people, devices, applications, code, services, partners, and customers. Identity serves as a critical integration link between people, processes, and technology. Getting Identity right increases the execution speed of a business, enabling processes and services to become more agile and nimble whist maintaining security. Identity also makes organisations more composable, enabling them to better respond to threats and shocks such as COVID 19 as well as execute on major business changes such as mergers and acquisitions. All the above mean that organisations that identify and implement a successful identity strategy will be more profitable, agile, manage risk more effectively and so lower their risk of a cyber security incident.
The Key Benefits
A successful IAM strategy will effectively summarise the scope, objectives and reflect a working consensus among the stakeholders. The program will be aligned with business drivers and articulate them in understandable terms. It will use clearly articulated risk metrics that align with KPIs/KRIs to make the case for change and clarify the terms under which success will be measured. Lastly it will communicate the risks facing the program initiatives to the stakeholders.
Along with strengthening security and ensuring compliance, a correctly executed IAM strategy also helps enable the business objectives, for example:
- Facilitate Digital Innovation - quickly and securely integrate with or implement cloud platforms and services.
- Reduce Customer Friction - IAM is the first interaction in the customer experience. This includes solicitation and registration, as well as authentication.
- Enhance User Experience and Productivity - Remove process inefficiencies such as manual processes and approvals that cause delays in providing user access.
- Reduce Cybersecurity Risk - better manage user access privileges to reduce the risk of unauthorized access.
- Ensure regulatory Compliance - Reduce risk of non-compliance
- Improve Operational Efficiency - Improve service-levels and business user satisfaction
IAM is a necessary component of not just your organisation’s cybersecurity capabilities, but as a foundation for digital innovation.
To assist you in planning your Identity Strategy, MOQ offers three engagements depending on your identity maturity:
- Snapshot: If you are new to Identity this quick free engagement will give insight into your current identity state and potential gaps.
- Securing Identities Workshop: If you know you are ready this 3-day workshop will jump straight into planning.
- Identity Strategy: If you need assistance at a strategic level, we can assist with building out this plan and implementation.
If you would like to learn more about how MOQdigital can help you on your identity journey, please contact us here.