A recent study conducted by Forrester Consulting on behalf of Cynet in October 2024 has shed light on the significant cost savings and business benefits that organizations can achieve by implementing Cynet’s All-in-One Security Platform. The Total Economic Impact Study focused on quantifying the financial effects of strategic technology investments, specifically looking at the experiences of customers using Cynet’s cybersecurity platform.
According to the study, Cynet’s All-in-One Cybersecurity Platform has proven to be a game-changer for businesses, generating $2.73 million in savings. What’s more, the platform paid for itself in under six months, resulting in an impressive return on investment of 426%.
One of the key findings of the study was that Cynet’s platform helped customers save $280,000 by replacing multiple standalone cybersecurity solutions. By offering a comprehensive suite of security capabilities on a single platform, Cynet enabled organizations to avoid the costs associated with licensing, integrating, and maintaining a complex tech stack of security tools. Additionally, Cynet’s platform includes a Managed Detection and Response (MDR) service, providing customers with 24/7 monitoring and assistance without the need for outsourced Security Operations Center (SOC) services.
Another significant cost-saving benefit highlighted in the study was the $933,000 saved by Cynet customers in preventing data breaches. The platform’s integrated security capabilities, including endpoint detection and response, network traffic analysis, intrusion detection, threat intelligence, and MDR, work seamlessly together to detect, prevent, and respond to data breaches effectively. In fact, Cynet made history by achieving 100% Detection and Analytic Coverage in the MITRE ATT&CK Evaluations.
Additionally, Cynet customers saved $349,000 from reduced efforts in investigation and incident reporting. The platform automates incident response processes, enabling analysts to address potential incidents with significantly less effort. Moreover, Cynet automatically generates detailed incident reports, reducing manual reporting efforts by 98%.
Furthermore, Cynet’s efficient orchestration of cybersecurity components resulted in $1.8 million in savings for customers over three years. By integrating comprehensive Security Automation and Orchestration (SOAR) capabilities within the All-in-One Platform, Cynet eliminates the need for customers to purchase a standalone SOAR solution from a third-party vendor, simplifying operations and minimizing overhead for security teams.
The Total Economic Impact Study also highlighted additional benefits that cannot be quantified, such as better work-life balance, faster onboarding, and easier training and upskilling for IT and security analysts using Cynet. These advantages, combined with the significant cost savings and ROI opportunities, demonstrate the value that Cynet’s All-in-One Cybersecurity Platform brings to small-to-medium enterprises and managed service providers worldwide.
In conclusion, the study’s findings underscore the importance of investing in comprehensive cybersecurity solutions like Cynet’s platform to not only enhance security but also drive cost savings and business value. Interested parties can sign up for a custom demo to experience Cynet’s solution firsthand and discover the benefits it can offer to their organization.