From Hobson & Company, a research firm focused on ROI studies:
The Business Case for an Automated Incident Response Management Solution
The value of an automated incident response management solution is immediate and demonstrable.
Hobson & Company, a research firm focused on Return on Investment (ROI) and Total Cost of Ownership (TCO) studies, worked with RadarFirst to explore these challenges. The goal of this whitepaper is to highlight examples of operational and business benefits that can be realized with an automated incident response management solution.
Hobson & Company conducted in-depth one hour interviews with 15 existing customers, testing a set of potential Radar benefits to confirm the sources of value generated by Radar, and to collect data points to quantify the impact post-Radar. These customers represented a cross-section of RadarFirst’s customer base across three industries; healthcare, insurance, and financial services, and varied in size from small to large.
Included in this report:
- Overview of incident response management challenges
- Benefits of moving to an automated solution
- Key ROI findings
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Customers found that the Radar solution addressed their challenges and delivered measurable results and a strong return on investment in three critical areas:
Decreasing the time spent on incident intake, assessment, and reporting
Increasing the consistency of the incident management processes and outcomes
Reducing the chances of damage to business partnerships and brand reputation
Key findings:
- 80% reduction in time spent on incident intake
- 50% reduction in time spent on incident assessment
- 65% reduction in time spent generating reports
- 75% reduction in the number of incidents requiring internal legal review
- 70% reduction in annual spending on outside legal counsel
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