Total Economic Impact Study Reveals Bolster Delivered 278% ROI for Phishing and Scam Protection
Friday, December 23, 2022
Increase productivity for security teams by dramatically reducing manual processes and the costs of legacy vendor solutions, saving organizations over $2.19M
LOS ALTOS, Calif., Dec. 15, 2022 /PRNewswire/ -- Bolster, Inc., the automated digital risk protection company, announced the release of an economic impact study conducted by Forrester Consulting. The study reveals a three-year ROI of 278% percent for the Bolster offering by increasing productivity for security teams by dramatically reducing manual processes and avoiding the costs of managing disparate, legacy vendor solutions.
To combat the new era of digital risk, security teams need to move from manual, fragmented solutions to a consistent, automated digital risk protection platform. Digital risk protection platforms protect organizations from an arrange of security risks such as phishing, scams, fraud, and impersonations but it is always tricky to estimate. The Bolster digital risk platform offers many business benefits such as saving defined budgets, boosting employee productivity, consolidating vendor tools, and helping organizations achieve measurable business value.
"By leveraging automation and offering a comprehensive platform, we make it easy for businesses to extract value out of our solution," said Abhishek Dubey, co-founder, and CEO of Bolster, Inc. "It's fantastic to see the numbers of what we already knew to be true. Our platform offers incredible ROI for businesses protecting their brand across the open web, social media, app stores, and even the dark web."
Bolster commissioned Forrester Consulting to conduct this TEI study and assess the cost savings for organizations that utilize social monitoring tools. Forrester noted that additional benefits of the Bolster platform included: brand reputation protection and customer trust, decreased risk of a data breach, and flexibility and ease of use as a trusted security partner.
Forrester noted the following savings over the course of 3 years for a composite organization comprised of interviewees with Bolster customers:
-- With Bolster's automated takedown capabilities, the customer could
achieve $1.4 million in recouped productivity costs that would have been
otherwise spent on investigating and taking down internet threats
-- By leveraging just three of Bolster's digital risk modules, the customer
could net $615,000 in vendor consolidation costs of various threat
intelligence and brand protection tools.
-- In just the first year, customers can save $1.16 million in total costs
avoided in attempting to build a similar solution to Bolster
From this study, Bolster saved time for heavily burdened security teams by reducing the previous average of about 10 hours per takedown to a zero-touch, automated takedown approach. In addition, Bolster helped the organization avoid hefty costs of tool and vendor management by consolidating their digital risk protection under one roof and achieving $1.6 million in savings. Lastly, Bolster protects against data breaches and reputational loss. According to Forrester data analysis and research, enterprises spend a median of 37 days and a mean of $2.4 million to find and recover from a data breach.
Bolster has already achieved 200 percent year-over-year growth in new customers and signed numerous forward-thinking organizations to their already impressive customer base. To support growth, Bolster recently announced $15 million in funding led by Cervin, Liberty Global Ventures, and Cheyenne Ventures with participation from previous investors Thomvest Ventures and Crosslink Capital.
To learn more about the study and how organizations can save using Bolster please visit: Bolster Forrester TEI Study
At Bolster, our mission is to make the internet safe for everyone. That's why we created the first and only fully automated platform purpose-built from the ground up to detect, monitor, and take down fraudsters on the Internet. We call it Automated Digital Risk Protection. Our comprehensive platform offers the most efficient protection across web, social media, app stores, marketplaces, and the dark web to combat fraudulent sites and content. Bolster was founded in 2017 by security industry veterans with headquarters in Los Altos, CA. To learn more, go to www.bolster.ai.
Media Contact
Bolster Inc.
Monnia Deng
monnia.deng@bolster.ai
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SOURCE Bolster
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