2022 Total Economic Impact™ Study Delivered 186% ROI and 2X Customer Conversion Rate with ForgeRock
SAN FRANCISCO--(BUSINESS WIRE)-- ForgeRock® (NYSE: FORG), a global digital identity leader, today released the results of a Total Economic Impact™(TEI) study that examined the return on investment (ROI) enterprises may realize by deploying the ForgeRock Consumer Identity and Access Management (CIAM) platform. The commissioned study was conducted on behalf of ForgeRock by Forrester Consulting, which interviewed seven representatives at five organizations with experience using ForgeRock and aggregated the results into a single composite organization. These results show that the composite organization saw a 186% ROI in less than nine months, and a net present value (NPV) of $28.5 million over three years.
Companies need to develop better user experiences and provide a secure environment to build stronger relationships with their customers. The Forrester TEI study found that providing simple and safe access to customers for registration, login, purchases, and managing preferences — regardless of what device they are on — further engages customers with greater brand loyalty and profitability. As a result, many of the world’s leading brands depend on the ForgeRock Identity Platform to acquire customers faster, improve retention, and protect customer data.
To construct the study, Forrester interviewed seven ForgeRock enterprise customers that have deployed the ForgeRock CIAM platform to explain the benefits and outcomes organizations experience while using ForgeRock. The study quantified these benefits across five key areas: transformation from legacy to modern infrastructure, avoiding software development and integration costs, improved time-to-value for deploying new capabilities, reducing fraud, and security-related customer service costs.
ForgeRock customers reported millions of dollars in savings in multiple areas, as well as higher customer satisfaction scores due to the drastic reduction in login times, more efficient password resets and improved recovery processes, resulting in increased customer acquisition and retention. The IT organizations interviewed were able to provide better functionality and service with fewer resources, freeing them up to focus on high-priority projects. According to the study, the composite organization realized significant cost savings over three years:
- Over $8 million in savings from transforming their legacy environment to ForgeRock
- $1.3 million saved from avoiding IT development costs
- Almost $6 million in savings from more efficient roll-out and deployment of new functionality
- Reduced instances of fraud, resulting in $4.7 million in savings
- 40% reduction in security related calls to the call center resulting in a benefit of $24 million
“We believe this new Forrester TEI study validates what we hear from our customers every day, that ForgeRock helps them to save money and increase revenue while also delivering secure and seamless user experiences without compromise,” said Fran Rosch, CEO, ForgeRock. “Enterprises are increasingly looking to digital identity as a key differentiator — it’s the ‘front door’ to their business — and, I’m proud that so many of the world’s largest brands trust us to help them stay connected and drive growth in this increasingly digital world.”
In May, ForgeRock announced that it is the industry’s first comprehensive platform to infuse AI into the entire identity lifecycle. The company will continue investing in people, R&D, artificial intelligence, ForgeRock Identity Cloud, and global business development as it continues to enhance its platform and provide enterprises with the tools to give their customers and partners a safe and seamless experience.
To see the full TEI study, or to learn more about ForgeRock, visit www.ForgeRock.com.
ForgeRock® (NYSE: FORG) is a global digital identity leader helping people simply and safely access the connected world. The ForgeRock Identity Platform delivers enterprise-grade identity solutions at scale for customers, employees, and connected devices. More than 1,300 organizations depend on ForgeRock’s comprehensive platform to manage and secure identities with identity orchestration, dynamic access controls, governance, and APIs in any cloud or hybrid environment. For more information, visit www.forgerock.com or follow ForgeRock on social media: Facebook ForgeRock | Twitter @ForgeRock | LinkedIn ForgeRock.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220712006127/en/
Stacey Hurwitz, ForgeRock
Amanda Barry, ForgeRock
Evgenia Sinopidou, Edelman
Released July 14, 2022