Large financial institutions -> large IAM teams. Often overlooked part of the cost of IAM at such a large institution: Part of their jobs requires data, hence reporting and analytics
Specific challenges at one such organization:
❌ High Cost of Manual Reporting: The organization relied on 5-8 employees working non-stop on manual IAM reporting. This not only led to increased operational costs but also contributed to employee burnout.
❌ Time-Consuming Report Production: It took the IAM team weeks to draft the IAM report, making it hard to answer ever-growing IAM questions efficiently.
❌Limited IGA Reporting Capabilities: The IGA suite only supported basic, static reporting. The organization had to rely on Excel exports or highly technical data queries. As a result, employees complained that they could not receive the required information to accomplish critical IAM tasks.
❌Limited IGA Data: As IGA only included some data sources, additional, separate reports had to be continuously created
The current manual approach to IAM reporting in financial institutions is not only costly and time-consuming but also poses significant security risks and compliance challenges.
This method leaves critical gaps in IAM data, risking regulatory non-compliance and ineffective governance, which can weaken cyber risk posture.
The pressing need for a streamlined, efficient IAM reporting solution is clear, one that reduces expenses while enhancing security and compliance.
The financial industry leader applied self-service data analytics, integrated with its central IGA system, HR database and disconnected applications.
✅ Immediate Access to IAM Insights for all Stakeholders: All relevant personnel now have instant access to the IAM data they need.
✅ Continuous KPI Monitoring: The system enables ongoing tracking of IAM performance indicators.
✅ Reduced Manual Work: Significant reduction in manual IAM tasks, leading to overhead cost savings.
Discover how implementing self-service analytics can improve your IAM reporting, reducing costs and saving time. Learn from a financial leader's success story on saving 5 FTEs from manual reporting.
Register here for the webinar on February 28th