How to Consolidate Solutions and Compare ROI to Reduce Your IT and Cyber Expenditure
Consolidating solutions helps reduce security ‘clutter’ and ultimately allow you to improve efficiency in your organisation.
With fewer solutions to manage you can save time, and money making sure you’re only spending out for what you need. Which is ideal for staying within your IT budget or being able to reduce expenditure (particularly at the moment.)
According to Cisco’s latest CISO benchmark report, it is clear that a multi-vendor environment is a lot of work. In the report, the majority of organisations – 86% of them – uses between 1 and 20 vendors, 9% have between 21 and 50 vendors, and 4% have over 50 vendors, with the trend heavily leaning on reducing the number of vendors.
Organisations where there were reports of more cyber fatigue – feeling overwhelmed by the threats, leading to behaviour that’s higher-risk – coincidentally all used a higher number of vendors.
It is more than evident that consolidation is the way forward in time, money, and energy.
Benefits of consolidating solutions
The higher the number of solutions you use, the higher the resources you need to manage = time and money. Cyber fatigue is how breaches, human error, and missed alerts happen, so there’s a strong possibility that with too much for your team to manage, something gets missed.
By consolidating solutions – Using fewer vendors or solutions to get wider security protection coverage – you will get:
- A more unified security architecture.
- You will also reduce the need to manage security products from multiple consoles that are disconnected from one another.
- It also gives you a better overview of your current cybersecurity and threat landscape when your cyber solutions can be controlled from fewer dashboards.
- There will also be fewer support and maintenance hours as there are less solutions to maintain, operate, upgrade. Fewer contracts or licenses to renew meaning less time and money spent.
Ultimately, consolidation allows you to focus on what matters – the efficiency of your solutions and how well they protect your organisation.
But evaluating current solutions is difficult, particularly when you want to compare them against each other, let alone finding the ROI for each.
So, how can you do this?
Boardish puts things in perspective and gives you tangible numbers to work with to consolidate
Boardish is a cyber risk quantification tool that focuses specifically on the efficiency of solutions and comparing them using the unique TPF (Threat Protection Factor) methodology.
With Boardish, you can test different solution combinations to see how efficient they would be in protecting the organisation against different threats, and how much they could lower the impact cost of each threat.
You can also test consolidation! Finding out which solution combinations are truly the most efficient and effective to run! Using the full cost of the solutions including maintenance and yearly costs for the entire team.
Once you input the needed data points for your organisation into Boardish, you will have an easy way to try different combinations of solutions and compare them against the threat impact costs (to see what works in real numbers.) You can run detailed simulations for threat scenarios and see how effective the solutions are. For each simulation, you can see:
- The financial impact of threats to your company
- The solution costs of each combination
- The cost vs. the company turnover so you can see the percentage your budget will cost
Don’t forget to include the time aspect of implementing your solutions (you can do all this in Boardish as well and break it down).
An Example of solution comparison in Boardish - The Walkthrough
Try Boardish for free
With Boardish, you don’t need to waste time on implementation only to check it out. It’s a standalone solution you can try immediately upon registering, so start your test run right now!
Charlotte Ratcliffe
