Forrester Research Reports

Joe Hoosech | November 13th, 2021

 

SpearTip’s Senior Director of Operations, Joe Hoosech, commands SpearTip’s 24/7 Security Operations Center. Joe is a decorated Marine Corp Veteran who earned the rank of Master Sergeant (E-8) before retiring from active duty in 2005. Following his military service, Joe accumulated vast knowledge and experience related to software development and system testing, which compliments his proven leadership and management abilities. At SpearTip, Joe continually works to improve internal processes and stay ahead of the ever-changing landscape of cybersecurity. His dedication and commitment to every organization the company serves is seen across multiple disciplines: Incident Response, Digital Forensics, Managed Detection and Response, and Security Assessments.

In October 2021, Forrester Research, Inc. released ‘The Total Economic Impact™ Of SpearTip ShadowSpear’ with a thorough analysis of how the ShadowSpear Platform will “control costs while providing protection” to any organization implementing this comprehensive security operations-as-a-service solution.

 Why ShadowSpear is Necessary

 As the entire threat landscape continues to evolve and threat actors increase their sophistication, businesses naturally incur greater risks. Every organization operating in the digital space and in possession of sensitive, confidential information or intellectual property (IP) should conduct regular assessments of their security posture. Such tests are certain to reveal weaknesses and vulnerabilities, which further allows for these exposed organizations to collaborate with a software-as-a-service (SaaS) provider, like SpearTip. Furthermore, most businesses are not equipped with round-the-clock cybersecurity experts and are, therefore, operating from a weakened security posture.

Partnering with an organization like SpearTip, which has dedicated our business to the protection and defense of others, makes the most sense from both a financial and security standpoint. The way the co-founder of an IT service provider put it was spot-on: “A service like what SpearTip offers is going to become as normal as the light bill over the next few years. There is no other way.” We believe SpearTip, with our ShadowSpear Platform, not only makes data more secure but also is the surest way to stay ahead of malicious threat actors.

Our ability to closely monitor all endpoints within a partner organization’s digital network from our 3 Security Operations Centers (SOCs), staffed 24/7/365 with certified engineers offers a cost-effective solution that most businesses cannot replicate internally. The service of our SOCs and deployment of our ShadowSpear Platform is proven in the Forrester Research Reports to provide a net benefit of 1.91 million dollars over the course of 3 years to our partner businesses. This value is found in the significantly reduced risk of data breach (55%), enhanced efficiency of internal security teams, cost reductions related to infrastructure, and enhanced M&A capabilities. Our service was shown to pay for itself in only 6 months with a total return on investment (ROI) of 254% over those 3 years. An investment of this value is virtually unprecedented.

ShadowSpear’s Benefits

 One important detail noted in the Forrester Research Reports that can’t be overlooked is that the ShadowSpear Platform and SpearTip’s Security Operation Centers allow our partners to gain “100% visibility into the organizations’ networks and the expertise to recognize threats that [their] security teams did not see”. As a result, the partners interviewed in the report have not experienced a single ransomware attack since. Because we offer our partners complete security coverage, they are free to run their businesses from a position of strength and confidence, not fear of risk. Forrester estimates SpearTip partners reduce expenses associated with an average of 2.5 data breaches per year at a cost of over $300,000 per breach. That budget earmark can now be re-invested in the organization, whether through M&A, new hiring, or enhanced marketing.

The benefits related to cost-savings and growth opportunities were acknowledged by the CSO of a healthcare nonprofit who stated the extra space in the budget “gives me a little more freedom to use those dollars to repurpose and bring in other talent to do things that are going to help move the business forward financially.” What is being represented here is precisely what we strive to offer businesses regarding the quality of our services and support.

We take a lot of pride in protecting the vital data held by our partners and in their ability to strengthen their core business operations. With our dedicated SOC teams and the benefits of ShadowSpear, our partners interviewed in the Forrester Research Reports realized a combined gain of over $1 million dollars in increased security team efficiency and reduced on-site costs related to infrastructure, labor, and software. The core of our mission at SpearTip is to help our partners realize their stated missions. Every single day we strive to offer our partners industry-leading services and support with our dedicated team and ShadowSpear Platform; the Forrester Research Reports demonstrates that we are accomplishing these goals.

Read the Total Economic Impact™ of SpearTip ShadowSpear at speartip.com/forrester-report/.

To learn more about ShadowSpear, visit speartip.com/shadowspear-platform/ or contact our team via email: info@SpearTip.com.

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