Leveraging Identity as a Service (IDaaS) for Business Success
In a world of digital transformations and security risks, Identity as a Service (IDaaS) can be a game-changer for your business—but only if you play the game right.
The first rule is understanding identity.
The term identity refers to characteristics that make an entity recognizable. Likewise, digital identity refers to attributes that identify people, organizations, or other entities online.
With more and more businesses migrating to the cloud, the demand for seamless authentication of digital identities has reached a critical point.
In fact, experts are predicting a massive change in the way enterprises handle customer identity and access management (CIAM) within the next decade.
By 2022, Identity as a Service (IDaaS) solutions are expected to grow the identity and access management space to a $13.42 billion property. Hence, now is the best time to invest in a secure, highly accessible, simplified, low-risk solution like IDaaS.
In this piece, we’ll look at the components of IDaaS, and learn how businesses can manage data through the identity platform.
What is Identity as a Service?
IDaaS refers to identity and access management services that are offered through the cloud or a SaaS (software-as-a-service) subscription.
In short, IDaaS helps manage digital identities so that the right users can access the resources that are meant for them.
IDaaS is a win-win for both businesses and their customers. With modern IDaaS access features, there’s no need for end-users to remember multiple account credentials. Likewise, system administrators can reduce the number of user accounts they have to manage.
What are the core components of IDaaS in an enterprise environment?
The features and functionalities of an Identity as a Service solution vary across all market segments but generally include digital identity access and management. Here are some of the most common components.
Cloud-based and multi-tenant architecture
A typical IDaaS vendor will operate a multi-tenant service delivery model. The vendor will issue updates and performance enhancement requests whenever these become available.
Password management and authentication
IDaaS service taps all the points of an ideal identity and access management platform. It includes maintaining features like multi-factor authentication and biometric access across all access points.
Single Sign-On (SSO)
When it comes to customer identity and access management, single sign-on is a vital feature.
SSO is designed to maximize the end-user experience while simultaneously maintaining the security of a network. With SSO, users are encouraged to use strong password combinations to access their everyday IT services.
In an Identity as a Service environment, SSO allows enterprises to secure authentication for third-party services without requiring an internal IT department’s involvement.
Multi-factor authentication (MFA) is associated with Identity as a Service and is occasionally referred to as two-factor authentication. Using multiple factors for authentication helps prevent data breaches, making it one of the best ways to protect digital identities.
Automated approval workflows
Identity as a Service also utilizes automated approval workflows. These workflows help IT admins to:
- Offer access privileges to multiple apps.
- Enforce GUI-based configuration capabilities.
- Manage user-account provisioning.
- Follow governance frameworks for risk assessment.
Analytics and Intelligence
Using analytics and intelligence capabilities in IDaaS lets enterprises report misuse related to access privileges. This makes it easier to detect anomalies in user functions and data usage.
Governance and Compliance
Enterprises can leverage the intelligence capabilities of an Identity as a Service platform to manage governance and compliance-related workflows. Real-world authentication processes can be aligned with governance policies to mitigate security risk.
6 Reasons why IDaaS is the right fit for your enterprise
1. IDaaS implementation in the cloud can be fast and straightforward. Since servers are already installed in the cloud, you only need to configure your chosen platform according to your IT protocols to get it up and running.
2. A cloud-based Identity as a Service platform like LoginRadius easily integrates with 3rd-party apps. You can also add or remove any feature from your existing CIAM environment at any time, such as MFA or Progressive Profiling.
3. Transferring identity data to a new environment in the cloud may seem daunting to the uninitiated. That’s why LoginRadius provides customers with data migration software, and sets up and executes the migration for a seamless, hassle-free transfer.
4. Passwordless Authentication deters cybercriminals by reducing the risk of password sprawl. With an IDaaS platform, you can set up secure, passwordless authentication and easy password resets.
5. LoginRadius’ IDaaS platform also has built-in security features like Risk-Based Authentication (RBA), which lets you detect and shut down compromised user accounts quickly.
6. CIAM experts are an asset to any company when it comes to implementing IDaaS and securing customer identities. Luckily, onboarding a CIAM expert isn’t necessary when using Identity as a Service. With LoginRadius CIAM, we are with you every step of the way in your digital transformation.
The future of Identity as a Service for digital enterprises
There is a lot of anticipation about Identity as a Service in solving emerging business needs for enterprise-level organizations. In a world that’s swiftly migrating to the cloud, IDaaS providers are positioned to combine both security and ease-of-use through password management tools like SSO, RBA, and MFA.
In fact, identity access management as a service has surpassed the “Peak of Inflated Expectations” on the Gartner hype cycle. The Gartner hype cycle offers a graphic representation of how new technologies are being adopted and how they are solving real-world business problems.
Considering the identity industry’s needs and investments in CIAM and IDaaS technology, it seems that IDaaS has entered the mainstream and will continue growing from here.