When it comes to identity security, the stakes are high. A single data breach can result in significant financial losses, regulatory fines, and damage to a company’s reputation — prompting many companies to pursue a multi-vendor strategy with a proliferation of vendors, each offering their own unique set of features and services.
However, managing identity security across multiple vendors can lead to a fragmented ecosystem that results in inconsistent user experiences and can actually increase security risks. In this blog post, we’ll explore the pain points of vendor sprawl and use cases for vendor consolidation and how Transmit Security enables enterprises to consolidate vendors to improve security, reduce costs and complexities and improve user experiences.
Vendor sprawl refers to the use of multiple vendors for different aspects of identity security. While this approach may seem logical at first glance, it can result in several challenges for organizations, including:
Consolidating identity security vendors can help address these pain points and provide several benefits for organizations, including:
Identity security vendor consolidation is a key trend that CISOs and security decision-makers should consider to reduce operational costs, improve the user experience, create consistent experiences across channels, maintain compliance with regulatory policies and establish zero trust security.
Transmit Security’s security-first identity platform enables businesses to reduce complexity and streamline identity security management by providing a full suite of services for Identity Management, Detection and Response, Authentication, Identity Verification, Data Validation and Orchestration all in one place.
These modular, natively integrated services enable businesses to detect more fraud, eliminate operational overhead and improve user experiences. As a result, we’ve enabled our enterprise customers to consolidate vendors — enabling one leading US bank to save millions on operational overhead and allowing TIAA to reduce custom code, shrink the time needed to create new controls and significantly reduce management costs.
In the next blog in this series, we’ll provide a how-to guide for planning a successful vendor consolidation strategy that can meet enterprises’ specific organizational needs and adapt swiftly to changing business conditions.