TRAVERSE CITY — Get ready for another IT acronym — BYOID, for Bring Your Own Identity.
A new study from Traverse City’s Ponemon Institute, conducted for the consulting frim CA Technologies, shows high levels fo interest in BYOID, defined as the use of trusted digital or social networking identities in business.
The study shows IT users generally view BYOID primarily for fraud reduction, risk mitigation and cost reduction, while business end users are more interested in how BYOID can streamline customer’s experience and assist in targeted marketing campaigns.
The study says those differences show the need for collaboration between IT and the business functions for maximum benefits for any organization deploying a BYOID system.
A detailed BYOID strategy, the study contends, built around several well-defined use cases, can help organizations separate themselves from competitors and grow their business.
The idea is to use existing digital or social identity issued by a trusted third party to access applications to help oprganizations deliver new apps more quickly and securely.
This survey was conducted with IT users and business users at organizations with more than 1,000 employees in United States, Australia, Brazil, Canada, France, Germany, India, Italy and the United Kingdom. Almost all of the IT users surveyed report to the CIO (74 percent) or CISO (15 percent); the business users in this research report to the lines of business leader (55 percent), chief marketing officer (10 percent), with the rest dispersed across other business functions.
According to the survey findings, IT users say the primary value of BYOID is from strengthening the authentication process (67 percent) and reducing impersonation risk (54 percent). Business users believe the BYOID value comes from delivering a better customer experience (79 percent) and increasing the effectiveness of marketing campaigns (76 percent).
While the study shows IT sees value primarily in risk mitigation/cost reduction, it also shows business users see the value of BYOID in improving the consumer experience to increase customer loyalty and generating new revenue streams. This underscores the need for IT and business collaboration to address the challenge that today’s organizations face: how to secure the business while simultaneously empowering it to do more online.