Code42 Software, Inc., the leader in data loss and insider threat protection, commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study to evaluate the return on investment (ROI) that the Code42® Incydr™ data protection solution provides customers. Forrester found that a composite organization, comprised of interviewees with experience using the Code42 Incydr solution realized an ROI of 172%, equating to a net present value (NPV) of $1.30M. What’s more, it offers a break-even point of under 6 months – which is before most traditional DLP and CASB deployments get off the ground.
Forrester reports that amid increasing data exposure events led by business transformation and the widespread adoption of the cloud and remote work, organizations are lacking full visibility into data movement, they are bogged down with inefficient workflows, and they are increasingly losing data at the hands of insiders. Customers attest that Code42 Incydr data protection addresses these key challenges by offering a unified and comprehensive approach to risk management, delivering the necessary visibility, context, and control to prevent data leaks and intellectual property theft, all while improving efficiencies for internal resources.
“Code42 Incydr provides the context-driven detection and the wide array of response controls needed to see and stop data leaks and IP theft across an organization's data landscape while improving efficiencies for internal resources,” said Forrester in the study.
Forrester projected that the three-year, risk-adjusted present value quantified benefits for the composite organization include:
- 35% reduction in manual investigations and a 50% reduction in mean time to investigate medium and high-risk incidents
- 40% reduction in low-risk events due to Code42 Instructor™, its microtraining solution for insider activity
- 80% reduction in endpoint devices requiring forensic investigation services, amounting to $268,000 in forensic search cost savings
- More than 19,000 hours of end-user downtime avoided over three years, resulting in $570,000 in savings
- 40% reduction in loss per major data exfiltration incident, with $686,000 in avoided costs due to data exfiltration
- Able to avoid using outside counsel for at least 60% of cases, cutting out costly legal fees
“Data loss could be malicious, or it could be accidental, but it will always be costly to a company,” said Joe Payne, President and CEO of Code42. “Companies that don’t have comprehensive data protection solutions are driving without seatbelts. Code42 customers continue to report cost benefits from securing their organizations with Incydr. When we hear customers say that Incydr has freed up 50% of the manpower they would otherwise need to investigate insider data loss events, we know that we’ve brought real value to security teams.”
To access the full TEI study, please visit: code42.com/resources/reports/total-economic-impact-of-code42-incydr.
About Incydr
Code42 Incydr data protection allows security teams to easily adjust their response to alerts by training users, containing threats, or blocking unacceptable user activity. With Incydr data protection, customers can automatically send tailored micro-trainings to correct employee mistakes in real-time, contain insider threats, and speed investigations via integrated controls with EDR and IAM products, case management, and access to file contents. This helps organizations drive down data loss, leak, and theft while also protecting their intellectual property and customer data.
Additional Resources
- Read our blog for key insights from Forrester’s Total Economic Impact Study
- Visit our Incydr product page
- Read Code42’s 2023 Annual Data Exposure Report
- Join the conversation with Code42 on our blog, LinkedIn, Twitter, and YouTube
About Code42
Code42 is the leader in data loss and insider threat protection. Native to the cloud, Code42® Incydr™ data protection rapidly detects data exposure, loss, leak, and theft and speeds incident response – all without lengthy deployments, complex policy management, or disrupting employee productivity. The solution offers a complete range of response solutions, including automated microlearning modules for accidental non-malicious risk, case management for efficient investigation collaboration, and automated blocking for the highest-risk use cases. Code42’s IRM Program Launchpad helps organizations get up and running quickly to ensure success and return on investment.
With Code42, security professionals can protect corporate data and reduce data loss from insiders while fostering an open and collaborative culture for employees. Innovative organizations, including the fastest-growing security companies, rely on Code42 to safeguard their ideas. Code42’s data protection solution is FEDRAMP-authorized and can be configured for GDPR, HIPAA, PCI, and other compliance frameworks. Founded in 2001, the company is headquartered in Minneapolis, Minnesota, and backed by Accel Partners, JMI Equity, NewView Capital, and Split Rock Partners. Code42 has played a defining role in developing a vision and requirements for the IRM category and is a founding member of the Insider Risk Community.
The Company has several offices across the United States, and its clients include the most
recognizable security, technology, manufacturing, and life sciences organizations, such as
CrowdStrike, Okta, Lyft, BAYADA Home Health Care, Rakuten, Sumo Logic, MacDonald-Miller, MACOM, Ping Identity, Shape Technologies, and Snowflake.
© 2023 Code42 Software, Inc. All rights reserved. Code42, Incydr, and Instructor are trademarks or registered trademarks of Code42 Software, Inc. in the United States and other countries. All other marks are properties of their respective owners.
Contact
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