what does access management cost for mid-market financial services? (slideshare)

Courtesy of InfraMatix

http://www.IDMChecklist.com

What Does Access Management Cost

for Mid-Market Financial Services?

http://www.idmchecklist.com/

Access management in the

financial services sector has

become a necessity

Sponsored by http://www.IDMChecklist.com

Veera Sandiparthi Founder of InfraMatix


due to the stringent

financial fines imposed on

non-compliance of regulatory

body rules and regulations




The Cost of Access

Management




In the worst case scenario,

a mid-market financial services

company could spend,

depending on the complexity

of their infrastructure,




between $500,000 and

$1,000,000 dollars

implementing an identity and

access management solution




So why are the costs

in implementing access

management so high?




• Typically heavyweight

identity and access

management solution

licenses go for between

$80 and $100 per user




• Most mid-market financial

businesses will not have

in-house IT skills




or the time to carry out

such a labor intensive and

technologically challenging

project




• There are also the hidden

costs of time and

productivity,




as most business unit

managers will be required

to spend time collaborating

with the project team in

creating workflows and

business processes




How can the costs

be managed?




• One of the most effective

ways to manage the costs

of an access management

implementation is to do

the groundwork first




• Implementing access

management is a project

and should be treated as

such with due diligence

towards planning and

execution




• The project KPI's (key

performance indicator) of

ROI (return of investment)

and IRR (internal rate of

return) can be realized

– and be very attractive –




if implementation is

strategically planned

and managed




What is the end of day

cost savings?




• Reduced contact center

calls




• Reduction in potential

non-compliance fines




• Savings on manual audits

and compliance reports




• ROI is typically quoted at

5 times the cost of

investment




Bottom Line




Additionally, access

management gives CFOs

reassurance that the business

is functioning in compliance

with regulatory bodies




How did your

access management

implementation go?




Did you stay within

the project KPI's?




Let us know your thoughts

in the Comments box below




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what does access management cost for mid-market financial services? (slideshare)

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