Businesses love stability. Yes, they love profits too, but those come when markets are consistent. Unfortunately, the world doesn’t always work this way – things change, markets are volatile, and you must know the risks in trying to stay on a straight path across a moving landscape.
Businesses that survive (and thrive) have one thing in common: the ability to be nimble. As the old Confucius adage goes, “The green reed which bends in the wind is stronger than the mighty oak which breaks in a storm”, a successful business knows when to be flexible to the surrounding conditions. This requires business agility and the willingness to adjust both to changes in the market and to changes in the business itself.
Here’s a case in point. When COVID-19 shut down my neighbor’s onsite cabinet installation business, he changed his business model. To lessen the business impact of the pandemic, he started to build high-end, custom bird feeders and sell them on the internet. While the revenue from custom bird feeders (which run $500 – $2500 a piece) did not make up for all of the lost onsite cabinet installation revenue, it did help him get through the past year. In fact, the online custom bird feeder business is doing so well, my neighbor hired a few new employees this year. Combined with more onsite cabinet installation appointments for the second half of the year, my neighbor is projecting 10% to 20% year-over-year growth in 2021! The key takeaway is this: a successful business, whether you’re working in an enterprise organization or running a high-end cabinet/custom bird feeder business know when to bend, pivot, and change with external circumstances.
Drive Business Agility With Operational Efficiency
Business agility enables organizations to remain competitive. With markets fluctuating and business requirements evolving, it is time to look at the Identity and Governance and Administration (IGA) market differently. IGA allows organizations to comply with regulatory requirements, such as Sarbanes-Oxley (SOX) and Health Insurance Portability and Accountability (HIPAA). IGA solutions provide organizations with better visibility into identities, access privileges, and more effective controls to detect and prevent inappropriate access. The IGA market is stable and mature, and it is still growing. According to ResearchandMarkets, the Identity Governance and Administration market is estimated to grow at a Compound Annual Growth Rate (CAGR) of 17.2% during the forecast period (2021-2026. This growth can be attributed to new innovations for improving identity-related solutions and processes in enterprises as well as the need to meet compliance requirements.
To help address these growing IGA business challenges, ForgeRock has recently released a new and expanded ForgeRock Autonomous Identity out-of-the-box integration with ForgeRock Identity Governance. The integration allows your organization to address existing IGA solution and process shortcomings with artificial intelligence (AI)-driven identity analytics, including:
- Proactive Access Request Approvals: Eliminate manual access requests by fully automating approvals and provisioning high-confidence access entitlements before a user requests access. This enables your organization to make users more productive by providing them access to systems, applications, and resources quicker.
- Accelerated Access Decision Making: Remove user access indecision by allowing your business line managers and application owners to review real-time low, medium, and high-confidence scores for roles and entitlements. This approach allows your organization to increase operational efficiencies across the entire organization by enabling quicker user access decision making.
- Preemptive Segregation of Duty Checks: Prevent harmful user access requests by allowing your organization to fully automate segregation of duty (SOD) detection scans during the access request process. This allows your organization to prevent users from submitting a request with toxic access combinations. It saves time and streamlines the access request process while improving the overall security posture of your organization.
Accelerate Your Competitive Edge
Business agility gives your organization a competitive edge by outlearning and outperforming the competition. Your organization will have the ability to deliver faster and respond quicker without sacrificing quality. Whether you are in charge of your IGA program in a large enterprise or a high-end cabinet/custom bird feeder business, improving business agility enables innovation so your organization can produce higher returns while maintaining consistency. This is done by understanding market changes and bending and adapting quickly to drive success.
Learn more about how your organization can drive business agility with the most innovative identity platform: ForgeRock Identity Platform.
*** This is a Security Bloggers Network syndicated blog from Forgerock Blog authored by Tim Bedard. Read the original post at: https://www.forgerock.com/blog/identity-business-agility-and-bird-feeders