What is the significance of 'Identity Lifecycle Management' in Saviynt?

The significance of 'Identity Lifecycle Management' in Saviynt lies in its comprehensive approach to managing user identities throughout their entire lifecycle, from the moment they are created to their eventual deletion. This process is crucial for ensuring that user access is appropriately provisioned, modified, and eventually removed as needed. Effective identity lifecycle management facilitates compliance with security policies and regulations by maintaining a clear record of how user access evolves in relation to organizational changes such as hiring, job changes, or terminations.

By effectively managing the lifecycle, organizations can mitigate risks associated with unnecessary or inappropriate access, which could lead to data breaches or compliance violations. Ultimately, it streamlines the process of onboarding and offboarding users while ensuring that access rights remain aligned with their current roles and responsibilities within the organization. This comprehensive management aspect is what distinguishes it from unrelated areas such as performance reviews, financial tracking, or user engagement metrics, which do not directly pertain to the management of user identities.