By Rebecca Wettemann, VP of Research, Nucleus Research
When it comes to IT security initiatives, many enterprises struggle to quantify business value and return on investment (ROI), viewing them solely as an insurance expense – a must-have in today’s era of inevitable attacks. But by implementing the right solutions, organizations can mitigate a multitude of security challenges while enabling business agility and achieving measurable operational benefits.
Industry experts estimate that 80 to 100 percent of serious security incidents involve the exploitation of privileged accounts. To understand how organizations can better protect themselves against advanced threats, my team at Nucleus Research recently explored a series of actual deployments of the CyberArk Privileged Account Security Solution. During a number of in-depth customer conversations, we not only found that the company’s suite of security tools drove a centralized and consistent approach to managing privileged access for reduced risk, but also significant business benefits, including increased productivity and reduced costs. We found that organizations can achieve complete payback from an initial CyberArk deployment within six months or less and gain greater ROI as the CyberArk platform is used over time.
Our discussion series revealed that while security remains a primary driver, there are three compelling reasons why customers were drawn to the CyberArk solution, including:
- Ease of deployment, intuitive administrative interface and the ability to manage all privileged credentials in one vault enabled administrators to rapidly come up to speed on the solution and gain benefit.
- Because customers could choose one initial area or component to address and extend the solution easily as they needed over time, they were able to flexibly respond to changing security needs with limited additional investment or disruption.
- Integrated solution approach. Companies moving from multiple point solutions with disparate interfaces found the centralized platform drove greater management efficiencies and ease of reporting.
Additionally, we identified four key benefits companies achieved from deploying the CyberArk Privileged Account Security Solution, including:
- Reduced risk: Most customers cited reduced risk as one of the most important benefits of deploying CyberArk.
- Improved compliance: We found improved compliance with the ability to easily address audit requirements was a common benefit shared by all CyberArk customers.
- Increased productivity: Automating privileged credentials management and password change processes enabled customers to reduce administrator time spent on credentials management by 20 to 50 percent or more.
- Reduced audit costs: We found CyberArk customers could reduce resources and time dedicated to auditing by up to 40 percent.
To read real customer anecdotes detailing their success while using the CyberArk integrated solution, along with our full analysis of the CyberArk Privileged Account Security Solution, please visit www.CyberArk.com/ROI.