ForgeRock publishes the results of a Total Economic Impact
ForgeRock® (NYSE: FORG), a global leader in digital identity, today released the results of a Total Economic Impact™ (TEI) study that examined the return on investment (ROI) businesses can achieve by deploying ForgeRock Consumer Identity and Access Management (CIAM platform). The commissioned study was conducted on behalf of ForgeRock by Forrester Consulting, which interviewed seven representatives from five organizations experienced in using ForgeRock and aggregated the results into a single composite organization. These results show that the composite organization achieved a 186% return on investment in less than nine months and a net present value (NPV) of $28.5 million over three years.
Businesses need to develop better user experiences and provide a secure environment to build stronger relationships with their customers. Forrester TEI research found that providing easy and secure access for customers to sign up, sign in, purchase, and manage preferences, no matter what device they’re on, increases customer loyalty and makes it more profitable. As a result, many top global brands depend on the ForgeRock Identity Platform to acquire customers faster, improve retention, and protect customer data.
To build the study, Forrester interviewed seven ForgeRock enterprise customers who have deployed the ForgeRock CIAM platform to explain the benefits and results organizations are seeing when using ForgeRock. The study quantified these benefits in five key areas: transforming legacy infrastructure into modern infrastructure, reducing software development and integration costs, improving time to value for deploying new features , reducing fraud and security-related customer service costs.
ForgeRock customers have reported millions of dollars in savings in many areas, as well as improved customer satisfaction scores from drastically reduced login times, more efficient password resets, and improved retrieval processes, resulting in increased customer acquisition and retention. IT organizations surveyed were able to deliver better functionality and service with fewer resources, allowing them to focus on high-priority projects. According to the study, the composite organization achieved significant cost savings over three years:
- Over $8 million in savings by converting their old environment to ForgeRock
- $1.3 million saved by avoiding IT development costs
- Nearly $6 million in savings from more efficient deployment and rollout of new features
- Reduced fraud cases, resulting in savings of $4.7 million
- 40% reduction in security-related calls to the call center, resulting in a profit of $24 million
“We believe this new Forrester TEI study validates what we hear every day from our customers that ForgeRock helps them save money and increase revenue while delivering secure and seamless user experiences without compromise,” said Fran Rosch, CEO of ForgeRock. “Companies are increasingly looking to digital identity as a key differentiator – it’s the ‘gateway’ to their business – and I’m proud that so many of the world’s biggest brands trust to help them stay connected and drive growth in this increasingly digital world.”
In May, ForgeRock announced that it was the industry’s first comprehensive platform to integrate AI across the entire identity lifecycle. The company will continue to invest in human resources, R&D, artificial intelligence, ForgeRock Identity Cloud and global business development while continuing to improve its platform and provide companies with the tools to offer their customers and partners a safe and transparent experience.
To view the full TEI study or learn more about ForgeRock, visit www.ForgeRock.com.