At comforte, we’ve been talking about the benefits of data-centric security for years. But for IT security buyers, having the right information to hand is critical to making crucial purchasing decisions. That’s where Forrester’s Total Economic Impact™ study commissioned by comforte comes in.
Based on a detailed interview with a global comforte customer and rigorous industry analysis, it reveals that businesses could experience benefits of over $26m and ROI of 305%.
What we do
Organizations live and die by the quality of the data they process and manage. It could be sensitive IP, trade secrets or highly regulated customer information. In all cases, keeping that data safe from malicious third parties and the risk of accidental leakage has become critical to global boardrooms. The risk of a serious breach brings with it non-compliance fines, reputational damage, legal and IT costs and many other negative impacts. And as organizations continue to build out their digital infrastructure, the risks of a data security incident increase.
Against this backdrop, comforte delivers a single platform for the continuous discovery, classification, protection and monitoring of data—wherever it is in the organization. Via industry best practice techniques like format-preserving encryption and tokenization, we provide peace-of-mind to businesses that their crown jewels are safe, no matter what.
What Forrester found
Forrester found that organizations won’t simply benefit from comforte by reducing the costs associated with a potential data breach. They could also score some major financial wins by simplifying their security environment, enhancing compliance and auditing, and driving business agility.
In short, Forrester found that comforte could help organizations:
- Simplify security by eliminating the need for network segregation and other costly technologies—with a potential associated benefit of $16.8m
- Reduce the financial impact of a data breach by rendering any stolen data useless to hackers ($5.4m)
- Eliminate legacy security solutions such as encryption products which can’t scale adequately ($3.2m)
- Simplify auditing and compliance by, for example, taking data out of the scope of PCI DSS (over $1m)
These total quantifiable benefits added up to $26.4m, generating a net present value (NPV) of $19.9m and an ROI of 305%.
However, Forrester also uncovered some unquantifiable benefits including:
- Increased business agility from faster delivery of new business services and applications, which don’t have to meet strict compliance checks
- Reduced data security friction and increased transaction speed because comforte allows organizations to minimize the number of security tools in play, and the friction between these
- Enhanced compliance explanations, which reduces the workload on internal teams. This is because the checks themselves are easier, with protected data out of scope of PCI DSS and other regulations
The Forrester study is based on a best estimate of the kind of savings comforte customers could generate. Of course, the scale of these will vary from organization to organization.
Whatever the benefits for your business, the headline remains the same: data-centric security can significantly reduce cyber and financial risk. More importantly, it frees IT teams to focus on the more important task in hand: supporting business growth.
Forrester is a registered trademark and service mark of Forrester Research, Inc. and/or its affiliates in the U.S. and internationally and is used herein with permission. All rights reserved.
The Total Economic Impact™ of comforte Data Security Platform is a Forrester Consulting Total Economic Impact™ Study Commissioned by comforte. Published May 2022.