Streamlining Security for Better Service and Savings
Overview
In an effort to streamline operations and achieve significant cost savings, our company embarked on a strategic initiative to consolidate our security tools with a modern cloud first architecture. The goal was to reduce the number of vendors from six to two, thereby gaining better service and financial advantages for our operating companies.
The primary challenge was to identify the most effective security tools that would not only meet our stringent security requirements but also provide substantial cost savings. The team had to conduct thorough technical evaluations and proof-of-concepts to ensure that the selected vendors could deliver the desired outcomes. Additionally, the project required careful coordination and collaboration among various stakeholders across the portfolio to ensure a smooth transition and implementation.
The Solution
After extensive evaluations, the team decided to consolidate our security tools to two vendors: Trustwave and Cortex. This decision was based on their proven track record, robust security features, and the potential for significant cost savings through economies of scale. The corporate contracts were signed, and early renewals with EIS for Trustwave and Cortex were planned shortly after.
The implementation phase involved several key steps:
- Technical Evaluations: The team conducted rigorous technical evaluations to ensure that the selected vendors met our security requirements.
- Proof-of-Concepts: Building upon the proof-of-concepts already executed, the team ensured that the transition to the new vendors would be seamless and effective.
- Stakeholder Engagement: All IT leaders at corporate and in the business units worked together to ensure an efficient transition to a new and improved capability set.
Results
The consolidation of our security tools resulted in several significant benefits:
- Cost Savings: The consolidation led to an overall savings of 11% over approximately five years. Cortex, in particular, provided the most savings with economies of scale at almost 41% for EIS directly. Beyond economies of scale on price, the renewal allowed reduction of reserved storage with the Cortex data lake that was beyond the demand. This right sizing contributed to the savings for EIS on their budget. The corporate direct cost savings are $111,000 per year after initial contract and transition costs in FY23 and FY24. Additionally, there are cost avoidance savings of $94,000 per year. Over the life of the three-year agreement, the total cost savings amount to $431,138 compared to the previous solution prior to the tool consolidation.
- Improved Service: By reducing the number of vendors, we were able to streamline our security operations and improve service delivery. The selected vendors provided robust security features that enhanced our overall security posture.
- Enterprise Value: Bailey, Vulcan Industries, and All Current adopted the new platform and services, after looking at comparable market offerings.
New Capabilities Gained
The consolidation also brought several new capabilities:
- Managed Endpoint Tooling: Trustwave’s managed endpoint tooling (Cortex XDR) replaced all SentinelOne endpoint tools and portions of Guardicore (Legacy OSs). It also has the potential to replace Sophos MTR on laptops.
- Enhanced Collaboration: The ongoing collaboration during onboarding with Trustwave ensured compatibility and seamless integration of the new tools.
- Improved Incident Management: The new tools provided better incident management capabilities, allowing for quicker detection and response to security threats.
Conclusion
The successful consolidation of our security tools is a testament to the hard work and dedication of our team. By strategically reducing the number of vendors and leveraging economies of scale, we achieved significant cost savings and improved our security posture. This initiative not only provided financial advantages but also enhanced our service delivery, positioning us for long-term success.
Experts
Key Takeaways
- Enhanced Detection: Implemented advanced threat detection capabilities, improving the ability to identify and mitigate risks quickly.
- Operational Efficiency: Streamlined processes and reduced complexity, leading to more efficient security operations.
- Future-Proofing: Positioned the organization for future growth and adaptability with scalable security solutions.