Veracode Platform Delivers Impressive ROI and Strengthens Security
BURLINGTON, Mass.—Veracode, a leading name in application risk management, is thrilled to share the results of a commissioned study by Forrester Consulting. The findings on the Total Economic Impact™ (TEI) of Veracode’s Application Risk Management Platform showcase an astonishing return on investment (ROI) of 184 percent over three years, along with a significant net present value and a payback period of less than six months.
Key Factors Driving Economic Impact
The TEI study pinpointed four primary factors contributing to the economic benefits experienced by Veracode’s users:
1. Significant Risk Reduction
Users of the Veracode platform enjoy a remarkable 75 percent decrease in risks associated with software supply chain attacks. This notable reduction translates to estimated savings of around $1.5 million related to breach costs over the three-year period. Additionally, the composite customer analyzed benefits annually by approximately $7.1 million, compared to an initial investment of about $2.5 million.
2. Gains in Developer Productivity
Forrester's analysis revealed that improved visibility into security vulnerabilities allows for earlier detection, resulting in an impressive 80 percent increase in developer productivity. This enhancement equates to recovering roughly 70,000 hours of development time, valued at $3.41 million, which can now be redirected towards innovative product development.
3. Streamlined Automation Implementation
By integrating automation through Veracode’s tools, organizations experience an extraordinary 85 percent reduction in the time and effort required for flaw remediation. The study indicated that this transition saved the composite customer approximately $1.3 million by freeing up nearly three years' worth of effort—about 25,000 hours that can now be devoted to more critical tasks.
4. Accelerated Revenue Growth
In today's fast-paced business environment, companies strive to enhance and deliver secure software more rapidly. The TEI study highlights that utilizing Veracode accelerates the software development lifecycle while maintaining security, leading to a 20 percent revenue increase for organizations. This boost translates to an extra $940,000 in profits directly linked to the adoption of Veracode’s solution.
The Importance of Application Risk Management
The Forrester report underscores the crucial need for effective software security in a time when cyber threats are on the rise. Tim Jarrett, Group Vice President of Product Management at Veracode, emphasizes the necessity of safeguarding organizations while acknowledging the budget constraints many face. He stated, ‘The Forrester TEI study confirms that Veracode not only provides top-tier services but also enables businesses to achieve substantial returns while significantly enhancing agility and innovation.’
Tackling Cybersecurity Challenges
In an era of escalating cyber risks, businesses must seek proactive solutions that positively influence their security landscape. The TEI study presents a comprehensive evaluation of the financial implications associated with the Veracode platform, compiling experiences from various representative figures across different organizations.
User Insights
Participants in the study, including security and risk professionals, consistently expressed their satisfaction with the platform’s features. Their feedback highlighted significant improvements in their security posture, with reliable scanning and vulnerability management translating security into a competitive advantage.
Frequently Asked Questions
What is Veracode's Application Risk Management platform?
Veracode's platform offers tools and services designed to effectively manage application security risks throughout the software development lifecycle.
What were the main findings from the TEI study?
The study revealed a 184% ROI, substantial risk reduction, increased developer productivity, efficiency through automation, and revenue growth for companies using Veracode.
How does Veracode influence application security?
Veracode enhances visibility into security flaws early in the development process, enabling organizations to quickly and confidently address vulnerabilities.
What benefits does automation bring to organizations using Veracode?
Automation minimizes the time and effort required for flaw remediation, resulting in significant productivity gains and cost savings for companies.
How can organizations learn more about Veracode?
Organizations can discover the benefits and insights of Veracode by requesting studies and engaging with the community to share best practices.
