Learnings from the Forrester Total Economic Impact™ Study
With the ever-growing complexity and volume of cyberattacks, it’s no secret that companies benefit tremendously when they are able to streamline their cybersecurity efforts. In order to gauge the true return on investment that companies can extrapolate upon deploying the ServiceNow Security Operations module, ServiceNow commissioned a study in association with Forrester Consulting, The study titled “Total Economic Impact”, provided a framework for evaluating the financial impact of investing in ServiceNow to improve security incident and vulnerability response processes.
For the purposes of this study, Forrester conducted in depth customer interviews on their experience with ServiceNow’s Security Operations workflow (consisting of Security Incident Response and Vulnerability Response). With a deep-dive methodology, Forrester was not only able to provide excellent insight into customer experience, benefits, costs and risks associated with the investment but also provide a framework to provide hard data and projected values for ServiceNow’s performance in the future.
ServiceNow Security Operations helped these customers:
- Automate manually intensive security incident and vulnerability response workflows.
- Consolidate and prioritize alerts from multiple security tools onto a single platform
- Quickly map security incidents and vulnerabilities to IT infrastructure for better impact analysis and accurate assignment
- Prioritize and resolve the most critical security incidents and vulnerabilities first
Cost Savings And Business Benefits Enabled by ServiceNow Security Incident Response and Vulnerability Response
For the purposes of this study, Forrester aggregated the experiences of the interviewed customers and combined the results into a single composite organization. The composite organization experiences the following risk-adjusted present value (PV) quantified benefits over three years:
- Increased efficiency of prioritization and resolution of security incidents, resulting in $4.9 million in benefits
- Improved vulnerability management and response times, resulting in $488,311 in benefits
- Realized opex savings by eliminating legacy security tools, resulting in $283,997 in benefits
- Improved security governance with real-time visibility and reporting, resulting in $430,862 in benefits
- Improved IT productivity: ServiceNow Security Operations provides the organization with a single platform to consolidate and integrate data across its environment and to route tasks to the right IT and security teams using automated workflows.
- Better visibility into security posture: Intuitive real-time dashboards allow security teams and executives to understand the composite organization’s current security posture. These dashboards make it easy to track in-progress tasks, critical metrics, and KPIs to make business decisions and mobilize resources around the highest-priority security incidents
- Increased collaboration: ServiceNow Security Operations lets both IT and security resources assign tasks and collaborate in real time using a common system. Better collaboration improves security incident and vulnerability response times and accuracy.
All companies — big or small — have critical assets to protect, including customer data that will cause business damage or market setback if violated. Therefore, organizations need security orchestration tools that can connect security and IT teams to respond faster and more efficiently to security incidents and vulnerabilities and to get a definitive view of their security posture. ServiceNow Security Operations brings organizations to a single platform connecting security and IT teams to respond faster and more efficiently.
- The Security Incident Response application simplifies the identification of critical incidents and provides workflow and automation tools to speed up remediation
- The Vulnerability Response application prioritizes vulnerable items and adds business context to help security teams determine if business-critical systems are at risk
- The Threat Intelligence application helps incident responders find Indicators of Compromise (IoCs) and hunt for low-lying attacks and threats
- Performance Analytics for Security Operations lets teams create real-time dashboards and reports including built-in key performance indicators (KPIs) and lets teams create additional custom KPIs to improve visibility and confidence around an organization’s security posture and performance
Was this post helpful?
Let us know if you liked the post. That’s the only way we can improve.