BOULDER, Colo.--(BUSINESS WIRE)--Strata Identity, the Identity Orchestration company, today announced the findings of a commissioned 2023 Total Economic Impact™ study of its Strata’s Maverics Identity Orchestration Platform conducted by Forrester Consulting. According to the study, for a composite organization representative of interviewed customers, Maverics delivered a return on investment (ROI) of 407% and $13.85M in benefits, over three years for identity modernization projects by reducing development cycles ($10M), retiring legacy identity infrastructure ($2.1M), and reducing security and IT operations costs ($1.7M).
Forrester Consulting interviewed four Strata customers, aggregated the interviewees’ experiences, and combined the results into a single, composite organization, a financial services firm with 25,000 employees and revenue of $5 billion per year. The composite organization has 400 enterprise applications, 200 of which the company aims to migrate to a modern, cloud-based identity provider (IDP).
According to the Forrester study, “Prior to using Maverics, the customers relied on individual developers to modernize application code or custom-build integrations to work with a new IDP... After investing in Maverics, Strata’s customers expedited the migration of both legacy and standards-based applications to their new identity providers, streamlining identity management and achieving compliance with data access and security regulations. Maverics not only cut down the time needed for application migration but also drove considerable cost savings due to lower licensing and maintenance fees post-migration.”
Using Strata, one financial services organization replaced single sign-on (SSO) for 60 web apps. They saved an estimated $500,000 compared to manually rewriting each app for use with the new IDP. With Strata, a single developer was able to integrate the SSO for a web app in four hours, compared to a manual approach that would have required three mid-level developers and taken one month.
“Virtually every large organization is facing end-of-life decisions with their legacy identity vendors and the need to migrate to modern cloud IDPs. The problem is they have hundreds or even thousands of applications, many of which are mission-critical. Rewriting them to support a new IDP is time-consuming and prohibitively expensive, while not migrating means greater security vulnerabilities and requires spending millions per year on sustaining licensing and support services,” said Eric Olden, CEO of Strata Identity. “This Forrester study quantifies the economic savings of using the Strata Maverics platform to modernize identity management without rewriting applications, abandon legacy systems, and reduce overall management costs.”
Study’s Key Findings: 407% Return on Investment
The three-year, risk-adjusted present value (PV) quantified benefits of using Strata Maverics for the composite organization include:
- The avoided costs of rewriting applications with Strata’s no-code Maverics Identity Orchestration Platform and shortened development cycle is more than $10 million.
- Cost savings due to the retirement of expensive legacy IAM infrastructure and services, their associated licensing contracts, and professional services support costs are $2.1 million.
- Reduced staffing for managing legacy identity systems and shifting these employees to other security tasks, including management of modern IDP services, trims 1,400 hours of labor for a cost savings totaling $1.7 million.
To access the full Forrester Consulting Total Economic Impact™ study of The Maverics Identity Orchestration Platform, visit this link.
Strata Identity is the leader in Identity Orchestration for multi-cloud and hybrid-cloud. The orchestration recipe-powered Maverics platform enables organizations to integrate and control incompatible identity systems with an identity fabric that does not change the user experience or require rewriting apps. By decoupling applications from identity, Maverics makes it possible to implement modern authentication, like passwordless, and enforce consistent access policies without refactoring apps. The company’s founders created the IDQL (Identity Query Language) standard and Hexa open-source software for multi-cloud policy orchestration, and are co-authors of the SAML standard for SSO federation. For more information, visit us on the Web and follow us on LinkedIn and Twitter.