As Identity as a Service continues to grow at an average annual rate of 20%, it’s important to explore IDaaS benefits and vendors as well as its challenges. Technology has become more integral to how organizations operate and how we as individuals conduct our lives. With the evolution of the internet and the proliferation of devices that can connect to it, our online identities have become increasingly important. At the same time, the traditional methods for managing identity information are no longer adequate. New approaches are needed to secure and manage identity information in today’s digital world. Cloud-based solutions, such as Identity as a Service (IDaaS), offer a promising way to address these challenges. Here we will explore IDaaS, how it works, and the benefits it can provide organizations and individuals.
What is Identity as a Service (IDaaS)?
Identity as a Service is a cloud-based solution for managing identity information. It provides a centralized platform for storing and managing identity data, authenticating users, and authorizing resource access. IDaaS solutions are typically delivered as Software as a Service (SaaS), which means they are offered on a subscription basis. They can be accessed from any location with an internet connection.
How does IDaaS work?
IDaaS solutions typically offer a web-based interface that allows users to manage their identity information and access the provider’s services. The IDaaS provider is responsible for storing and managing the identity data and providing the necessary authentication and authorization services. We will further explore IDaaS benefits and vendors in the below sections.
By centrally storing and managing identity information, these solutions can help to improve security. They make it more challenging for hackers to obtain and use this data. The providers often offer additional security features, such as two-factor authentication, which can further reduce the risk of identity theft and fraud. Multi-factor authentication is a security measure that requires users to provide more than one form of identification when accessing a system. This can include something they know, like a password, something they have, like a security token, or something they are, like a fingerprint. IDaaS solutions can also help to reduce the costs associated with managing identity information. By using a cloud-based solution, organizations can avoid investing in and maintaining their infrastructure for storing and managing this data. It can also make it easier for organizations to comply with regulations like the General Data Protection Regulation (GDPR). This regulation requires organizations to protect individuals’ data and gives individuals the right to have their data erased. By using these solutions, organizations can more easily manage and delete individuals’ data when required by law. These solutions also offer a more convenient way for users to manage their identity information. Rather than having to remember multiple usernames and passwords for different online accounts, users can access all of their accounts through a single platform. This can make it easier for users to keep track of their identity information and reduce the risk of losing or forgetting essential credentials.
These solutions require users to entrust their identity information to a third-party provider. Organizations must consider the provider’s security and privacy controls before selecting a solution. Providers may also change their terms of service or go out of business, disrupting their services. Organizations should therefore consider using multiple service providers to reduce the risk of relying on a single provider.
Major IDaaS Vendors
The market for IDaaS solutions is still relatively nascent, but several vendors have emerged as leaders in this space. Okta is a leading provider of identity and access management solutions. The company offers a cloud-based platform that helps organizations to manage and secure user identities. Okta also provides various add-on products, such as Single Sign-On and Multi-Factor Authentication, which can be used to improve security further. OneLogin offers a platform that helps organizations securely connect people with their needed apps. It also provides various tools to help organizations manage and secure identities, such as its Universal Directory and Single Sign-On solutions. Other major vendors include Microsoft Azure Active Directory, Google Cloud Identity, Amazon Web Services Identity and Access Management, Ping Identity, IBM Cloud Identity, and Salesforce Identity. See our vendor list to learn more about IDaaS benefits and vendors.
Cost Effectiveness When Compared to Traditional Identity Management Solutions
The cost of IDaaS solutions is typically lower than the cost of traditional on-premises identity management solutions. Providers often charge a subscription fee, which can be paid monthly or annually. This subscription fee covers the costs of maintaining and updating the platform. In contrast, traditional on-premises identity management solutions typically require an upfront license fee and ongoing maintenance and support costs. As a result, IDaaS can offer a more cost-effective solution for organizations that need to manage user identities.
Small businesses must evaluate their needs to decide whether a cloud solution is the right fit. Your organization’s size, budget, and IT infrastructure will all play a role in this decision. You should be aware of the potential risks associated with these solutions, such as vendor lock-in and the fact that providers can change their terms of service or go out of business. IDaaS can be a good option for small businesses that need a flexible and cost-effective solution for managing user identities.