Overview: Total Economic Impact™ of the Maverics Identity Orchestration Platform
“We weren’t looking for three or four tools that would be best of breed to try to make this all work. We wanted one single tool that could fix all the problems.”
Senior VP of Technology, Financial Services Firm
How an enterprise modernized its identity while mitigating risk, reducing costs, and saving thousands of hours
Strata Identity engaged Forrester Consulting to do a Total Economic Impact™ (TEI) analysis. The study aimed to assess enterprises’ potential return on investment (ROI) using Strata’s Maverics Identity Orchestration platform. The results blew away even our expectations (the math was triple-checked) at a 407% ROI and a benefits PV of $13.85M.
Other data points of interest from the TEI of the Maverics Identity Orchestration Platform include:
- 1950 hours: estimated time saved when migrating a high-complexity app with Maverics (And that’s just for ONE app, so imagine multiplying it if you have dozens or hundreds!)
- $10M: amount of money not spent over three years just due to shorter dev cycles
- 200 apps: number of apps modernized and migrated from a legacy to a cloud IDP
For this study, Forrester Consulting took the insights from the customer interviews they conducted and created a composite organization representing a company with 25,000 employees and an annual revenue of $5 billion. The company has 400 enterprise applications and aims to migrate 200 of those apps from an outdated identity environment to a modern, cloud-based IDP.
Though the composite company is fictional, the findings are very real. The testimonials are the actual words from living, breathing people currently dealing with the chaos, cost, and resource-intensive strife of modernizing legacy applications for a modern IDP.
Manual migrations make migraines
The situation wasn’t pretty. The composite company (CompCo) needed to get off its legacy IDP and move its apps to a new cloud-based one, but they were stuck. The only way they knew to do it was to rely on individual developers to rewrite application code manually or build custom integrations with the new provider.
The time pressure was on due to the looming end-of-service deadline of their existing, monolithic identity provider. The manual method of rewriting or refactoring apps would take years longer than they had. And the cost was prohibitive. They had been burned by vendor lock-in in the past and didn’t want that to happen again. There had to be another way.
“Having to maintain legacy code is a huge time suck for my team.” With Strata, “I’m getting a lot more time to work on revenue-generating code instead of maintenance code.”
– Senior VP Technology, Financial Services
Modernization magic with Maverics
With Maverics, CompCo accelerated the migration of both legacy and standards-based applications to their new IDP. This resulted in a more efficient identity management system, making adhering to data access and security regulations much more manageable. Those migration headaches quickly became a distant memory.
Maverics not only decreased the time required for application migration but also generated significant cost savings by retiring licensing and maintenance expenses after the migration.
Moreover, as Maverics is a software-as-a-service (SaaS) solution, the organization substantially reduced the time spent maintaining CompCo’s identity infrastructure.
CompCo describes how Maverics helped them coordinate identity and access management for employees and business partners as part of broader initiatives. Transitioning to the cloud, enhancing security and user experience for web apps and external-facing websites, and expediting integration for corporate acquisitions were now totally possible.
“We had to have an expensive consultant write new code for an end-of-life platform…It hurt my soul, but what do you do? Our app needs some changes, and this impacts how users log in.”
– Security Manager, IAM, State Government
That feeling when you realize the results of Identity Orchestration
The key findings below summarize what’s possible when using Identity Orchestration with Strata. The study quantifies the benefits and costs associated with this adoption over three years. You could read the complete TEI study (and we encourage you to), but if that’s not your jam, the items below can be your highlights reel:
$10M avoided in not rewriting applications: The use of Maverics allowed CompCo to migrate both nonstandard and modern enterprise applications in significantly less time compared to manual rewriting. The result? More than $10 million in savings over three years.
Cost savings due to the retirement of legacy IAM infrastructure: Using Maverics enabled the organization to eliminate expensive licensing contracts for legacy products, resulting in annual savings of $600,000. Over three years, the savings due to the retirement of legacy IAM infrastructure amount to $2.1 million.
Reduced staffing for security and IT operations: With Maverics, CompCo can reduce staffing for security and IT operations by shifting employees to revenue-producing security tasks and automating mundane processes. This leads to cost savings of $1.7 million (and probably much happier developers)!
Mitigated risk of vendor lock-in: No organization has just one cloud anymore. The Maverics platform allows CompCo to easily migrate applications between IDP vendors and adopt advanced identity services, reducing the risk of expensive future migrations.
Accelerated integration of acquisitions: The organization can coexist and integrate IDP systems from acquired companies more efficiently.
Improved security posture: By migrating to a modern identity provider and deploying multifactor authentication on every single app (even the old, previously thought to be unmanageable ones), CompCo improves its security posture — by a lot.
Reduced code maintenance: Strata, the provider of Maverics, performs upgrades and code maintenance, allowing the organization to focus on core application code updates. This one is invaluable.
Lower licensing fees: Compared to traditional per-user IDP pricing, with Maverics, CompCo only pays licensing fees based on the number of applications in production and the number of IDP integrations needed.
A 407% ROI on the Maverics Identity Orchestration Platform
Taking a step forward in digital transformation can be a daunting task. However, with an impressive ROI of 407%, it’s clear that companies, such as CompCo in the Forrester TEI study, reap tremendous benefits when leveraging the Maverics Identity Orchestration Platform to evolve IAM.
Even up-front costs associated with leveraging Maverics are quickly recuperated and go beyond cost savings to offer additional value offerings, such as easing new user onboarding and secure integration of acquisitions. Get the TEI study to learn more about how you can realize the benefits of Identity Orchestration with Strata.