Why customer identity and data management solutions are becoming necessary for online businesses
For any online business, "People" and "product” are the main drivers when it comes to providing a superior quality customer experience.
2019 brought new technologies to exploit and make smarter business decisions. The widespread use of smart devices and the availability of inexpensive broadband has led to an explosion in online commercial and social transactions and therefore the huge volume of data.
Using that data, in order to gain a better understanding of each customer, businesses are moving away from easy customer access to more complex data tracking and processing to fulfil business interests. For any online business, "People" and "product” are the main drivers when it comes to providing a superior quality customer experience. For survival and sustained growth, businesses are keeping up in this race of win customers by making their customers’ online experience as sleek and personalized as possible across various platforms and devices. Existing and potential customers should be impressed by how brand treat, engage and interact with them. Not only this, but customers should also be delighted by the efficient grievance redressal systems which can further enhance their overall experience with the brand.
With Indian data protection bill being tabled, we are also entering a newer and complex business era regulated by a dynamic set of data protection laws, to ensure that businesses of today and tomorrow comply with data regulations in order to grow and scale globally. There’s more at stake than just customer registration and identity authentication.
Therefore, to deliver an omnichannel experience, businesses are embracing a new breed of consumer or customer identity and access management (CIAM) solutions from their IAM vendors. Let's understand the benefits that CIAM brings to the company and, most importantly, to the customer:
1. Streamlined customer experience
Businesses nowadays are trying to provide the easiest way to log in. You urge customers to try more of your digital services and related offerings by furnishing an easy and safe user experience for your business applications and services.
2. Security for data and accounts
Keeping in mind the number of data breaches surfacing every year, your secure login methods reassure customers that it is safe to use your products/services. An ideal customer identity and access management system provides critical security tools and processes to safeguard both customers’ data and account access. For instance, each customer’s usage and login patterns are constantly checked with risk-based authentication, which makes it simple to identify irregular (or any potential fraudulent) action through the unified CIAM framework.
3. Scalability and uptime
If you have a centralized login framework for all your customer-facing apps and services, it would be simpler to incorporate new and updated services as they come online in real time. A cloud implementation can be quickly scaled up or down depending on your usage, and automated failover can cut downtime to virtually zero and hence providing uninterrupted brand interactions.
4. A unified view of each customer
Businesses get an outline of each customer’s journey if you utilize the data gathered from all your apps, services and websites. You can use this data to monitor customer purchase and consumption patterns across multiple apps and services, create a personalized experience that reflects your customers’ journey, design new products or special offers, and direct your customers towards offerings that will benefit both customers and the business.
Originally published at EconomicTimes.com
