Veracode Platform Shows Significant ROI and Enhances Security

Veracode Platform Shows Significant ROI and Enhances Security

BURLINGTON, Mass.—Veracode, a global leader in application risk management, is excited to share insightful results from a commissioned study conducted by Forrester Consulting. The findings on the Total Economic Impact™ (TEI) of Veracode’s Application Risk Management Platform reveal a remarkable return on investment (ROI) of 184 percent over a period of three years, alongside notable net present value and a payback period of under six months.

Key Economic Impact Drivers

The TEI study identified four main contributors to the economic impact experienced by Veracode’s users:

1. Substantial Risk Reduction

Users of the Veracode platform benefit from a striking 75 percent reduction in software supply chain attack risks. This significant decrease translates to an estimated savings of approximately $1.5 million correlated to breach costs within the three-year timeframe. Furthermore, the composite customer in the analysis reaps yearly financial benefits approximating $7.1 million, in comparison to an upfront investment of around $2.5 million.

2. Developer Productivity Gains

The analysis from Forrester demonstrated that enhanced visibility into security vulnerabilities facilitates early detection, unlocking an impressive 80 percent enhancement in developer productivity. This improvement equates to reclaiming about 70,000 hours of development time worth $3.41 million utilized for innovative product development.

3. Efficient Automation Implementation

The introduction of automation through Veracode’s tools results in an outstanding 85 percent decrease in time and effort needed for flaw remediation. As revealed in the study, this process transition saved around $1.3 million for the composite customer by freeing up almost three years' worth of effort—25,000 hours that can now be allocated to more critical tasks.

4. Competitive Revenue Growth

Modern businesses constantly aim to advance and deliver secure software at an accelerated pace. The TEI study highlights that using Veracode enables a quicker and more secure software development lifecycle, propelling a 20 percent revenue boost for organizations. This increase equated to an additional $940,000 in profits attributed directly to implementing Veracode’s solution.

Value of Application Risk Management

The Forrester report emphasizes the imperative nature of effective software security in an era marked by rising cyber threats. Tim Jarrett, Group Vice President of Product Management at Veracode, asserts the importance of protecting organizations while highlighting the inadequate budgetary constraints many face. In his words, ‘The Forrester TEI study confirms that Veracode not only offers top-tier services but also ensures businesses achieve substantial returns alongside significant impacts to improve agility and innovation.’

Addressing Cybersecurity Challenges

In this climate of increasing cyber risks, businesses must find proactive solutions that positively impact their security landscape. The TEI study offers a structured evaluation of the financial implications attributed to the Veracode platform, aggregating the experiences of numerous representative figures from diverse organizations.

Insights from Users

Study participants, including security and risk professionals, frequently echoed their satisfaction with the platform’s capabilities. Comments highlighted notable shifts in their security posture, reassuring consistent scanning and vulnerability management, thereby translating security into a competitive edge.

Frequently Asked Questions

What is Veracode's Application Risk Management platform?

Veracode's platform provides tools and services for managing application security risks effectively throughout the software development lifecycle.

What were the main findings from the TEI study?

The study revealed a 184% ROI, significant risk reduction, enhanced developer productivity, efficiency through automation, and increased revenues for companies using Veracode.

How does Veracode influence application security?

Veracode improves visibility into security flaws early in the development process, helping organizations remediate vulnerabilities rapidly and confidently.

What benefits does automation bring to organizations using Veracode?

Automation reduces the efforts and time needed for flaw remediation, leading to significant productivity gains and cost savings for companies.

How can organizations learn more about Veracode?

Organizations can explore the benefits and insights of Veracode by requesting studies and engaging with the community for best practices.

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