fbpx
Tuesday, November 29, 2022 | 06:02 am

Skybox Security Decreases Data Breach Risk by 55%, According to Total Economic Impact™ Study

0
Skybox Security Decreases Data Breach Risk by 55%, According to Total Economic Impact™ Study

Skybox Security today released an independent cost-benefit analysis of its industry-leading Security Posture Management Platform. The Forrester Total Economic Impact™ (TEI) Study, commissioned by Skybox Security, quantifies how Skybox customers can significantly reduce their exposure to data breaches resulting from internal and external threat actors.

After deploying Skybox, a composite organization comprised of Skybox customers reported:

  • Three-year return on investment (ROI) of 142%
  • 55% reduction in risk of a data breach
  • 50% reduction in downtime of mission-critical assets
  • 50% reduction in reliance on external auditors
  • 30% improved productivity of security analysts
  • 30% increase in security operations efficiencies
  • Total benefits of over $3.7 million over three years

Forrester Consulting conducted the study by interviewing four Skybox Security customers to examine the ROI organizations have realized. Using Skybox, customers are able to prioritize and understand critical vulnerabilities while addressing compliance concerns on a global enterprise scale. Through increased visibility with the Skybox network model, customers acted on critical items faster across IT and OT functions – resulting in a 67% reduction in mean time to detect (MTTD) vulnerabilities.

ROI of proactive security posture management

“Legacy approaches to managing the enterprise attack surface are no longer enough. Skybox enables the most effective, systematic approach to security posture optimization across IT, OT, and cloud – going far beyond the traditional scan-and-patch playbook,” said Haggai Polak, Chief Product Officer, of Skybox Security. “We believe this new study showcases the financial impact of the industry’s only solution that combines preventative security controls, advanced vulnerability prioritization, actionable security posture remediation options, and attack feasibility testing. As a result, Skybox exposure management and risk scoring uniquely identifies and mitigates the threats most likely to be exploited by adversaries.”

Additional customer benefits outlined in the study include:

  • Decreases audit failures and reliance on external auditors
  • Discovers, prioritizes, remediates, and reports on vulnerabilities across IT, OT, and cloud
  • Makes complex security policy management easier, faster, and more effective
  • Tests changes before implementing to avoid misconfigurations, non-compliance, and exposed vulnerabilities
  • Consolidates processes to reduce IT/OT convergence risk
  • Improves employee satisfaction with a reduction in menial tasks
  • Eliminates the need for segmented homegrown tools, spreadsheets, and antiquated third-party solutions
  • Provides opportunities for topline revenue growth

According to the Forrester Consulting study: “Keeping assets and data security has become more difficult for companies operating complex internal networks on a global scale. These challenges are compounded by ever-increasing pressures from compliance and regulatory requirements. Implementing Skybox’s suite of products enables companies to discover, prioritize, remediate, and report exposed vulnerabilities as well as improve security policy management while driving efficiencies and decreasing operational downtime.”

Customer quotes

  • “We have thousands upon thousands of vulnerabilities that show up in scans. What Skybox does is look at vulnerabilities in the context of all the other things in the network to [produce] a risk assessment, and that’s what allows us to prioritize the vulnerabilities that need to be fixed.” – Principal Network Engineer, IT Security Company
  • “OT downtime is measured in lack of production. We had a four-hour incident every quarter, and now we don’t have that. We reduced quite significantly the risk surface by implementing Skybox.” – Director of Cybersecurity, Manufacturing Company
  • “We did a bake-off, and the value of what the capabilities were with Skybox drove the decision… it was also because of the features that they offered, and [competitors] did not have those features.” – IT Security Manager, Financial Services Company
  • A customer realized a 200% improvement in their ability to address internal attack vectors: “We’ve been able to use Skybox as a tool to limit movement once a threat is inside the network, to limit where it can go.” – Principal Network Engineer, IT Security Company
  • “For a published threat, Skybox can tell you where to find it. There’s no argument that the source of information is credible.” – Director of Cybersecurity, Manufacturing Organization
  • “Skybox has given us visibility across our network, and there’s no other tool that we’ve had in the past that allowed us to do that on a global scale.” – Principal Network Engineer, IT Security Company
  • “The IT team spends less time on the audit; they used to handwrite a report and try to come up with explanations. Now they just take the information from Skybox and say, ‘here’s the proof.’” – Principal Network Engineer, IT Security Company

Forrester Total Economic Impact methodology

Total Economic Impact is a methodology developed by Forrester Research that enhances a company’s technology decision-making processes. The TEI methodology helps companies demonstrate, justify, and realize the tangible value of IT initiatives to both senior management and other key business stakeholders. It consists of four components to evaluate investment value: cost, benefits, flexibility, and risk. It is a proven industry-standard framework that models all aspects of a piece of technology or solution and the associated impacts on the business and illustrates the ROI of products and services.

98,656FansLike
643FollowersFollow
9,151FollowersFollow