Before investing in any type of security solution, you need to know your money will be well spent.
That’s especially true for security professionals shopping for antiphishing solutions, hence why PhishMe commissioned Forrester Research, Inc. to research the effectiveness of PhishMe’s complete phishing defense solution among key customers.
The PhishMe phishing defense suite is comprised of four integrated solutions:
- PhishMe Simulator: a phishing simulation and behavioral conditioning platform.
- PhishMe Reporter: an easy to install report-phishing button for mail clients.
- PhishMe Triage: a human-focused phishing incident response platform.
- PhishMe Intelligence: a truly actionable stream of human driven phishing threat intelligence service.
Published last month, the Total Economic Impact™ (TEI) study of PhishMe’s Human Phishing Defense Solution shows a return on investment of 336% and an 80% average reduction in phishing click rates by employees leveraging the PhishMe solution set.
More specifically, the report found that customers saved more than $1.9 million over three years, a sizable chunk of the budget that would have otherwise gone to reimaging compromised desktops resulting from phishing attacks. Customers also saw a 30% reduction in man hours spent on phishing incidents, re-allocating the equivalent of 4.8 full-time employees.
Considering the cost savings of using PhishMe versus the $440,242 spent annually on manually fighting phishing threats, that adds up to a net present value of more than $1.4 million, equaling an ROI of 336%. The report also showed that the investment in PhishMe solutions was paid back in 2.7 months.
In compiling the data, Forrester interviewed five existing customers on the costs, benefits and risks of deploying the PhishMe solution suite (PhishMe Simulator, PhishMe Reporter and PhishMe Triage).
PhishMe solution conditions employees to shut down phishing threats
The executives interviewed for the study reported that running scheduled phishing simulations on their workforce (using PhishMe Simulator) increased employee ability to recognize phishing attempts. This in turn empowered employees to report more malicious emails to their incident response teams to investigate (via PhishMe Reporter). PhishMe Triage also dramatically reduced the security operations workload required to investigate, respond to and prevent future phishing threats.
The spike in employee behavioral conditioning via PhishMe Simulator translated to an 80% average reduction in phishing click rates by employees. Meanwhile, the use of PhishMe Reporter and PhishMe Triage caused a 30% increase in productivity and efficiency increases across security operations and incident response teams.
The study results prove how beneficial and crucial employee involvement is in the fight against phishing threats. The results show the effectiveness of the PhishMe solution suite, confirming PhishMe as a sound investment in preventing million-dollar losses from phishing attacks. The study also affirms the importance of a comprehensive phishing defense program as an integral part of a company’s overall cybersecurity strategy.
For more information on why thousands of companies across the world choose PhishMe for end-to-end phishing mitigation, visit our customers page here.
To download a full copy of The Total Economic Impact™ Of PhishMe’s Human Phishing Defense Solution, click here.