Technology is revolutionizing the way organizations operate and is driving demand for more, innovative services. This change has moved organizations away from traditional waterfall implementations toward an agile approach. However, legacy budgeting processes have not caught up, making it difficult to get funding for key digital transformation projects. At a time when IT needs to be agile and flexible, financial resources are often strictly allocated and are not made available for transformational projects, like adopting a Cloud-First strategy. Considering the multi-dimensional challenges organizations face as the network perimeter disappears and demand for services explodes, businesses must re-evaluate and address the way they approach technology funding.
CIO’s are often measured and bonused for providing a stable, secure IT environment and finding new ways to deliver that stability efficiently. This operational view of the world is very conservative and is focused on driving as much cost and risk out of IT as possible. ‘Doing more with less’ is the mantra, and companies’ IT departments are often run with a skeleton crew. In this environment, undertaking innovative projects places a big strain on existing resources. At the same time, the business landscape has changed and the demand for speed and agility is higher than ever, putting IT departments under pressure to be innovators rather than adopters of the tried and true.
The big question is, can we re-position IT from a cost center (aka ‘value-destroying’) to a profit center (‘value-creating’) to realize its full potential as a strategic enabler to the organization? The answer is yes, and the journey begins by establishing strategic alignment at the highest levels of leadership (i.e. the CXO level) about how and where technology will be put to use to support business functions and mission. If we consider how to secure funding for your IAM project, one of the best practices is to develop an identity and access management solution roadmap to align IT and Business.
Two key objectives of an IAM Roadmap are to drive strategic alignment and to enhance the relationship between IT and business leaders. The process of developing a roadmap begins with communication: face-to-face interviews, team workshops, and facilitated sessions to identify what is a priority and what business drivers are most important. These interactions give IT leaders a platform to inform and educate leadership on the value IAM brings to the organization and why it should be viewed as a strategic asset. Additionally, these conversations are an opportunity to market IT’s services and demonstrate a positive impact on the business mission. The exercise of developing and socializing an IAM roadmap builds a common understanding of the plan and a sense of shared ownership, as it incorporates opportunities and insights across both IT and the business.
You can control whether your Identity Management program is viewed as a cost center or as a strategic asset enabling the business mission. Positioning IT as a strategic asset is a direct result of the understanding and thinking in the executive leadership team. The process of building an IAM roadmap opens the lines of communication, establishes business priorities, and creates a shared understanding of the value delivered. In order to influence and secure funding, the relationship between IT and senior leadership needs to be strong, open, collaborative, and transparent—in other words, it needs to be a partnership.
How to Secure Funding for Your IAM Project
One challenge almost all IT organizations face is how to get funding to build and mature their Identity Management (IAM) solution. While the technical ins and outs are well understood by IT departments, there is often a gap communicating the promise of IAM to business stakeholders in terms that are compelling. If you want to secure funding for your IAM project, register today for our March 26, 2020 webinar How To Secure Funding for your Identity Management Program.
In this webinar, Hanno Ekdahl, Founder of Idenhaus Consulting (and author of this post), will take you through the essentials of the fundraising process. If you are interested in securing IAM funding for your project, this webinar is a great opportunity to get an experienced perspective and to get your questions answered.
Can’t make this webinar on the scheduled day? No worries! Register anyway to receive the link to the webinar recording and listen later at your convenience.
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