MILFORD, Conn., April 25, 2013 /PRNewswire/ -- SilverSky, the expert provider of cloud security solutions, today announced the exciting results of a commissioned study conducted by Forrester Consulting on behalf of SilverSky. The study projects that one of SilverSky's customers, a U.S. community bank with $750M in assets, 12 branches and approximately 120 employees, will realize a return on investment (ROI) of 304 percent over a three year period by using SilverSky's network security solutions.
According to The Total Economic Impact™ Of SilverSky Network Security Solutions study*, "By implementing SilverSky network security services, the community bank meaningfully improved its network security while increasing the overall productivity of the IT organization and avoiding costs that would have resulted had the company continued to use an in-house approach to network security. The organization also gained valuable reassurance that its network was being monitored 24x7x365 by a team of network security experts with the capacity to respond quickly and effectively to network security threats, a paradigm that would have been extremely costly and complex for the organization to manage on its own."
Prior to engaging SilverSky, the bank relied on out-of-the-box security products and managed its network security using an in-house approach. However, after a significant expansion and suffering a security breach, the bank's management recognized the critical need to reduce costs and complexity and improve network security. To accomplish this, the bank implemented SilverSky's cloud security solutions – including its Managed Security Services, Network Protection Software, and Professional Services.
Forrester Consulting's study identifies the following five key benefits of SilverSky's network security services based on in-depth interviews with the SilverSky customer:
- Reduced IT staff hiring costs: The bank improved its ability to execute network security tasks using SilverSky's robust, automated cloud solutions, while significantly reducing its need to hire additional in-house IT personnel. The study projects that reduced hiring costs will save the bank $652,138 over a three year period.
- Improved IT staff productivity: With SilverSky, the bank conducted network security tasks more efficiently and with a higher degree of reliability, boosting staff productivity and reducing man-hours by 12 to 25 hours per week.
- Decreased security incident remediation costs: SilverSky's solutions helped the bank prevent three potential security breaches in 2012, saving the customer an estimated $104,550 in remediation and downtime costs in the first year of the contract alone.
- Eliminated point solution licensing and management costs: Following the SilverSky implementation, the bank eliminated several network security point solutions, leading to savings from previous licensing/maintenance expenses and streamlined vendor management.
- Decreased support costs for compliance and audits: SilverSky's compliance expertise and audit-ready reporting helped the bank reduce time spent on compliance-related activities by 60 percent for its CISO and 50 percent for its IT staff.
"SilverSky's solutions provide value to our customers by reducing costs and complexity, improving network security and reducing the compliance burden," says Andrew Jaquith, chief technology officer at SilverSky. "I believe that this study, using data from a current customer, shows our value proposition in action and will help potential customers understand how they can benefit from SilverSky's network security solutions."
In the Forrester Consulting study, a senior IT manager at the bank describes, "After contacting SilverSky, speaking with them, and seeing a demo of their solutions, we were sold right off the bat. We were already familiar with competitors' products, knew what they'd offer and had a good handle on their pricing structures; we knew others weren't going to provide everything SilverSky had to offer."
To download a free copy of the case study, please visit here.
*"The Total Economic Impact™ Of SilverSky Network Security Solutions," Forrester Consulting, March 2013 (a commissioned study conducted on behalf of SilverSky)
**Based on a Three-Year Risk-Adjusted ROI
About the Cloud Security Provider, SilverSky
SilverSky is the expert provider of cloud security solutions. Born from our success as a managed services provider, our Security-as-a-Service platform delivers cloud-based software and managed services that protect critical information simply and cost effectively. By tirelessly safeguarding our customers' most important information, we enable growth-minded leaders to pursue their business ambitions without security worry. Our growing customer base includes 6,000 organizations in the financial services, retail, healthcare, energy, critical infrastructure and manufacturing sectors. For more information, visit www.SilverSky.com.
InkHouse Media + Marketing, For SilverSky