10 Tips for a Smooth IDENTITY Transition
The landscape of business is continuously shifting and evolving, which means mergers & acquisitions (M&A) are becoming more commonplace. Unfortunately though, not all M&As end up being successful due to lack of preparation for identity integration that leads to data breaches or a compromised customer experience. To truly realize the full benefit from an M&A and secure user identities while maintaining loyalty with customers, companies should build comprehensive plans by following 10 key steps – including establishing strategies around cost avoidance and multi-factor authentication – supported by an IAM platform plus thorough advance planning..
So what should companies consider as they integrate identity management following an M&A?
Here are 10 steps to help set you up for success:
1. Create a solid strategy to preserve (or improve) the customer experience.
2. Factor in cost avoidance.
3. Think through the both companies’ approaches to authorization.
4. Make sure your apps don’t end up siloed.
5. Complete your user migration and user consolidation plan.
6. Craft your user reconciliation plan.
7. Create a plan for existing loyalty programs.
8. Develop your mobile apps strategy.
9. Avoid brand-damaging data privacy missteps.
10. Protect customers with multi-factor authentication.
Your M&A is a great opportunity to make a statement, and hopefully a positive one. Companies that take the time to plan for their merger/acquisition journey are likely to see greater success from it in the long run. With data privacy regulations constantly evolving, identity management plays an important role in helping reinvigorate brand experience. As identity becomes far more intertwined with business strategy and customer experience, investments made in identity tech now put companies in prime position for success down the road.
When done right this will give organizations total success during their merger/acquisition journey!