t’s not always obvious what’s best for your business, but one thing that is obvious in the current business landscape is the need for cost savings, as well as the need for greater security. With this in mind, Single Sign-On (SSO) is a game-changer. SSO can generate cost savings that will pay for itself, enhance user experience, and improve security.
With interest rates as high as they’ve been in 20 years, cost-cutting is the name of the game for most businesses. According to a survey conducted by OneLogin, 60% of organizations reported tangible cost savings after implementing SSO. These savings mostly come from a reduction in helpdesk calls related to password resets and an overall increase in operational efficiency. In fact, according to a survey by Forrester Research, 20-50% of all help desk calls are related to password resets. Without these resets, a huge burden would be lifted from these help desk teams.
The Ponemon Institute’s 2019 study found that organizations with SSO experienced a 31% reduction in security incidents related to identity and access management. We’ll dive deeper into security below, but for the time being, I want to address the financial impact of security incidents. The “Cost of Cyber Crime” report by the Ponemon Institute in 2020 found the global average cost of a data security breach was $3.86 million. While Ponemon’s report encompasses a wide range of incidents, there’s no argument that cybercrime is costly and SSO is one added layer of protection.
In today’s workplace, focus on employee experience and retention is on the rise. While remembering passwords may seem like a small thing, the average person is burdened with memorizing 27 passwords (per a study from the University of Cambridge). This constant strain contributes to cognitive overload. It can lead to frustration and in turn, productivity loss. SSO helps by eliminating most of this strain and simplifying the user experience. In turn, this can translate into enhanced employee productivity and satisfaction. A study by Okta found that organizations using SSO reported a 40% reduction in productivity loss due to password-related issues.
With instances of IT security breaches regularly making headlines, leaders are looking for solutions. Compromised credentials were a factor in 80% of security incidents, as highlighted by the 2020 Verizon Data Breach Investigations Report. While not a comprehensive solution, SSO is a big step forward against unauthorized access. As mentioned above, the Ponemon Institute’s study found a 31% reduction in security incidents for organizations using SSO.
Overall, the adoption of Single Sign-On is an opportunity to reduce costs, make employees’ jobs easier, and take a step forward for security. The studies completed by, Ponemon, OneLogin, Forrester, and more, demonstrate the real-world impact of SSO implementation. In years to come, I think SSO will emerge as a critical component of cyber security, rather than a convenience. Organizations that see that value today will simply be a step ahead when that time comes.