TEI Study Finds BlackBerry Cybersecurity Service Delivered 293% ROI
Research saw BlackBerry customers benefited from SOC workflow efficiencies and cost savings
WATERLOO, ONTARIO – October 16, 2023 – BlackBerry Limited (NYSE: BB; TSX: BB) today released the results of a Forrester Consulting Total Economic Impact™ (TEI) study that calculated return on investment (ROI) for BlackBerry customers. The study revealed that the company’s CylanceGUARD® cybersecurity service delivered a significant bottom line impact for Security Operations Center (SOC) teams – a 293% ROI.
The study commissioned by BlackBerry found a composite organization comprised of interviewees with experience using CylanceGUARD also achieved the below benefits:
- 90% reduction in internal security workloads due to the efficacy of CylanceGUARD compared to legacy AV solutions
- 90% faster protection of new endpoints with fewer personnel resources required to do so due to CylanceGUARD’s AI and ML capabilities
- Personnel using CylanceGUARD were able to reallocate time to high value activities leading to a $1.7M present value (PV) over three years
“Cyberattacks are becoming increasingly rampant. Our most recent quarterly global threat intelligence report revealed that, on average, threat actors launch approximately 11.5 attacks per minute,” said Nathan Jenniges, SVP & GM Spark, Cybersecurity Business Unit, BlackBerry. “It is clear that MDR’s are no longer a “nice to have” for organizations – they are critical to ensuring cyber resiliency. The results of our Forrester TEI study speak for themselves.”
CylanceGUARD, BlackBerry’s industry-leading managed detection and response (MDR) service, is operated by the company’s world-class analysts that serve as an extension of Security Operations Center (SOC) teams. CylanceGUARD includes the company’s CylanceENDPOINT™ software built on the company’s pioneering and patented AI. CylanceGUARD has received several Cybersecurity Excellence Awards and has been named a SOC X Champion against 49 other SOC teams dealing with real-world adversary emulations scenarios.
Prior to using CylanceGUARD interviewees noted that it was a constant battle to combat bad actors with little room to address large-scale breaches. After their investment in CylanceGUARD they were able to address the majority of incidents and improve the security posture of the organization.
“We needed a solution that is AI and ML based. [Further,] we didn’t want the team to be in 24/7 monitoring situations. The solution needed to be smart enough to quarantine attacks along with a competent team like Cylance to handle the escalation layer,” said a Head of infosec, transportation.
“It was very manual with our old solution. When there was something happening, we didn’t have all the details. With CylanceGUARD, they would pick it up immediately and be done with the issue within 15 minutes,” said a Head of IT security, financial institution.
“We realized that we had a pretty big hole, especially with workers connecting remotely, and had a lot of vulnerable areas. It became a crystal-clear moment to us that we needed a service-based security solution and not just a product,” said a CIO, professional services.
To read the full study click here. For more information register for BlackBerry Summit, taking place on October 17 in New York, where speakers from industry, enterprise and BlackBerry will reveal the future of IoT, IT and Cybersecurity and showcase the latest BlackBerry innovations.
BlackBerry (NYSE: BB; TSX: BB) provides intelligent security software and services to enterprises and governments around the world. The company secures more than 500M endpoints including over 235M vehicles. Based in Waterloo, Ontario, the company leverages AI and machine learning to deliver innovative solutions in the areas of cybersecurity, safety, and data privacy solutions, and is a leader in the areas of endpoint security, endpoint management, encryption, and embedded systems. BlackBerry's vision is clear - to secure a connected future you can trust.
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