Converged IAM refers to an integrated approach to Identity and Access Management that combines Access Management (AM) and Identity Governance and Administration (IGA) into a single product. This unified solution is built on a common codebase and presented through a single dashboard, streamlining management and enhancing user experience. Gartner predicts that over 70% of new IAM implementations by 2025 will adopt this converged model.

Choosing a single vendor for IAM solutions simplifies the management process, as businesses only need to deal with one organization for purchasing, maintenance, and updates. This approach typically results in lower total cost of ownership (TCO) and reduces complexity compared to integrating multiple disparate solutions. Additionally, updates and repairs are managed by the vendor, ensuring consistent uptime across the integrated IAM products.

Compact Identity is recognized for having the deepest IGA capabilities among Converged IAM products, as noted by Gartner. It has received multiple accolades, including recognition in Gartner's Access Management Magic Quadrant 2021 and awards for innovation in Converged IAM. Furthermore, it operates on a pay-per-use model, allowing organizations to pay only for the services they utilize, such as Single Sign-on and Multifactor Authentication.