Sep 10, 2024

News provided by Share this article Share toX Commissioned study shows a net return on investment of nearly $4 million over 3 years, in part due to a 70% acceleration in mean time to resolution of alerts NEW YORK, Sept. 10, 2024 /PRNewswire/ -- BlueVoyant,  a cybersecurity company that offers a comprehensive security operations cyber defense platform, today announced findings from a commissioned Total Economic Impact™(TEI) study conducted by Forrester Consulting. The study focused on BlueVoyant's Managed Detection and Response (MDR) services, which provide organizations with cloud-native, 24x7 security threat detection and response, including end-to-end consulting and implementation. The study found that BlueVoyant's offerings provided 210% return of investment (ROI) and a financial benefit, or net present value (NPV) of $3.9 million over three years, for a representative 10,000-user organization. "BlueVoyant has been a trusted partner to myself, to my boss, and to the senior leaders that run our 24x7 SOC," said a deputy enterprise CISO for a large insurance organization interviewed by Forrester Consulting for the study. "I've appreciated all of their insights, and most importantly, their brutal honesty on our existing operations. Sometimes you need a third party to tell you what you're doing right, but more importantly, to tell you what you're doing wrong so that you can reduce the risk within the enterprise." Forrester Consulting interviewed four security leaders from BlueVoyant clients to create a representative composite global enterprise with $5 billion in revenue, 10,000 employees, and 15,000 endpoints. The power of BlueVoyant's MDR As organizations face budget, resource and talent constraints within their Security Operations programs, Forrester's TEI study shows that BlueVoyant's MDR empowers organizations to succeed in several ways: Labor cost savings from a 90% reduction in escalated alerts and a 70% reduction in mean time to resolution. BlueVoyant's technology and processes help security operations (SecOps) teams reduce the number of alerts that need to be addressed manually as well as accelerate mean time to resolution. Optimized spending by more than $895,000. BlueVoyant enables the composite organization to optimize spending by consolidating tools. In addition, by using BlueVoyant's services, instead of having employees managing tools, clients can use specialized staffing models to hire more strategic security roles. Avoided breach costs by more than $3.9 million over three years. The study found that BlueVoyant helps reduce the likelihood and cost impact of a breach by improving customers' security posture through expert analysis and response. Improved visibility and insights. BlueVoyant's solutions provide a holistic view of organizations' security posture, enabling customers to understand the evolving threat landscape, detect potential risks, and make informed decisions. "The Forrester study further validates BlueVoyant's approach to MDR," said Milan Patel, global head of Managed Detection and Response at BlueVoyant. "Leveraging BlueVoyant's technology platform, data, and human expertise to maximize effectiveness of our customer's security tools is proving to be a winning model for MDR services." The full Forrester Consulting study: "The Total Economic Impact™ Of BlueVoyant Managed Detection and Response Services," including analysis of benefits, increased efficiencies, and cost savings is available here . About BlueVoyant BlueVoyant delivers a comprehensive cloud-native security operations platform that provides real-time threat monitoring for networks, endpoints, and supply chains, extending to the clear, deep, and dark web. The platform integrates advanced AI technology with expert human insight to offer extensive protection and swift threat mitigation, ensuring enterprise cybersecurity. Trusted by more than 1,000 clients globally, and the 2024 Microsoft Worldwide Partner of the Year, BlueVoyant sets the standard for modern cyber defense solutions. Visit www.bluevoyant.com BlueVoyant Press Contact