Cost Savings And Business Benefits Enabled By The KnowBe4 Security Awareness Training & Simulated Phishing And PhishER Platforms.
KnowBe4 commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study and examine the potential return on investment (ROI) enterprises may realise by deploying the KnowBe4 Security Awareness Training & Simulated Phishing and PhishER platforms. The purpose of this study is to provide readers with a framework to evaluate the potential financial impact of KnowBe4 on their organisations.
KnowBe4 is an integrated platform for security awareness training combined with simulated phishing attacks. PhishER is KnowBe4’s lightweight security orchestration, automation, and response (SOAR) platform, which allows incident response teams to manage high volumes of potentially malicious email messages that users report, and it enables them to respond to the most dangerous threats more quickly and more efficiently.
To better understand the benefits, costs, and risks associated with this investment, Forrester interviewed the IT security awareness program manager at a global chemical manufacturing company with more than 10,000 computer users. Forrester used this testimony to create a three-year financial analysis.
In the year prior to implementing the KnowBe4 Security Awareness Training & Simulated Phishing platform, the organisation experienced various security breaches. The organisation’s accounts payable department kept receiving fraudulent invoices on behalf of vendors that have been compromised and one of the organisation’s executives became the target of a phishing attack. Decision-makers wanted to tackle the problem right where they saw that most threats could be shielded off — at the user level — by instituting a cybersecurity awareness program that would sustainably improve the organisation’s overall security posture.
Since investing in KnowBe4 three years ago and rolling out initial baselining and ongoing training to its global user base, the organisation’s Phish-Prone Percentage (KnowBe4’s failure indicator of users who click on phishing emails) has dropped from 19.2% to 2.8%, and the organisation has not experienced cybersecurity incident-related outages or plant shutdowns on the scale that it previously did.
Download our Total Economic Impact™ (TEI) study for more information.