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2022 Total Economic Impact™ Study Delivered 186% ROI and 2X Customer Conversion Rate with ForgeRock
Rhea-AI Impact
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Rhea-AI Sentiment
(Positive)
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Rhea-AI Summary
ForgeRock (NYSE: FORG) released a Total Economic Impact study by Forrester Consulting, revealing a 186% ROI for enterprises using its Consumer Identity and Access Management (CIAM) platform. The study, based on five organizations, reported a net present value (NPV) of $28.5 million over three years. Key savings included $8 million from modernizing infrastructure, $1.3 million in IT development avoidance, and $24 million from reduced security-related calls. The findings underscore ForgeRock's role in enhancing customer interactions and driving cost efficiencies.
Positive
186% ROI in less than nine months.
Net present value (NPV) of $28.5 million over three years.
Savings of over $8 million from transforming legacy systems.
$1.3 million saved by avoiding IT development costs.
Nearly $6 million saved from efficient roll-out of new functionalities.
$4.7 million in savings from reduced fraud incidents.
$24 million benefit from a 40% reduction in security-related calls.
Negative
None.
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.
About ForgeRock
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.
What is ForgeRock's ROI according to the latest study?
ForgeRock's Total Economic Impact study indicates a ROI of 186% in less than nine months.
What are the financial benefits reported by ForgeRock's customers?
Customers reported a net present value (NPV) of $28.5 million and substantial savings across various operational areas.
How much did ForgeRock customers save by avoiding IT development costs?
Customers saved approximately $1.3 million by avoiding IT development costs.
What is the significance of the Total Economic Impact study for ForgeRock?
The study highlights ForgeRock's effectiveness in improving customer experiences and generating significant cost savings for enterprises.
What key areas did the Forrester study quantify for ForgeRock?
The study quantified benefits in areas such as infrastructure transformation, cost avoidance, improved time-to-value, fraud reduction, and decreased security-related service costs.
