Many businesses have had no alternative but to improve cybersecurity defenses to deal with the increased threat of cyberattacks. With attacks coming from all angles and a large attack surface to defend, organizations need to purchase multiple products to keep their networks and data well defended.
It is therefore important to ensure money diverted to cybersecurity is well spent. Organizations need to ensure they get the best possible protection for their investment. One area that is seeing an increasing level of investment is anti-phishing technology – Solutions that improve the last line of defense – employees.
PhishMe has developed a comprehensive suite of anti-phishing solutions to keep organizations protected from the growing threat of phishing attacks.
The suite consists of PhishMe Simulator™, a behavioral conditioning and phishing simulation product; PhishMe Reporter™, an email add-on that allows single-click reporting of phishing emails; PhishMe Triage™: a human-focused phishing incident response platform; and PhishMe Intelligence™, a phishing threat intelligence service.
While the solutions have proven to be highly effective, it was unclear what return on investment the solutions offered. To assess the likely ROI, PhishMe commissioned Forrester Research to conduct a study of key customers to determine how effective PhishMe anti-phishing solutions have been and the ROI customers have enjoyed.
Forrester’s Total Economic Impact study looked at the PhishMe Human Phishing Defense System and compared the costs of phishing defenses before and after implementation. Forrester conducted in depth interviews with five customers to assess the costs, risks and benefits of deploying the full PhishMe solution suite.
The study revealed that following implementation of the full PhishMe phishing solution suite, companies saw an 80% reduction in phishing click rates and a 336% return on investment.
Over three years, customers saved $1.9 million on average. Those funds would have been spent on dealing with phishing attacks and reimaging computers to remove malware.
Implementation of the PhishMe anti-phishing solution resulted in a 30% reduction in man-hours dealing with phishing incidents. That equated to an equivalent of 4.8 full time employees.
Forrester determined that the initial investment in PhishMe solutions was recovered in just 2.7 months following implementation of the solution.
Organizations reported a 30% increase in productivity and efficiency following the implementation of PhishMe Reporter™ and PhishMe Triage™ and an 80% reduction in phishing email click rates by employees.