Study shows benefits realized by 1Password customers amounted to $1.3M over three years.
TORONTO, March 8, 2023: 1Password, the leader in human-centric security and privacy, today announced the results from a commissioned Total Economic Impact study conducted by Forrester Consulting. The study focused on productivity and efficiency gains experienced within a composite organization comprised of organizations with experience using 1Password Business, and identified savings – including a projected average 70% reduction in IT support tickets and 4,310 hours per year saved in managing, updating, and sharing passwords and logins for the average 1Password Business user.
“This study confirms that 1Password’s human-centric security solutions deliver significant bottom-line productivity benefits to enterprises,” said Jeff Shiner, CEO of 1Password. “By offering intuitive solutions, we’re enabling enterprises to not only bolster their security but also increase productivity so they can focus on what really matters to their business.”
1Password empowers organizations to secure their business by securing their people. When deployed across a company, 1Password Business helps secure the organization’s most important information, like logins, payment cards, sensitive documents, and SSH keys. The study, which is based on in-depth interviews with current customers, discovered benefits of deploying 1Password that amounted to a 206% return on investment (ROI) and $1.3M in benefits over three years with payback in just six months for the average 1Password Business user.
Forrester Consulting found that 1Password offered many benefits, including improving the efficiency of the IT spend, saving developer time, and improving the employee experience by eliminating delays in accessing apps and services to do their job. For the typical deployment, some of the quantified benefits over a three-year period include:
- $414,000 saved due to employee efficiency increase from using 1Password vaults
- $408,000 saved due to IT team’s productivity increase from using vault and reporting capabilities in 1Password, saving close to 8,000 employee hours per year
- $286,000 saved in IT support, due to a 4,310-hour increase in total employee efficiency per year from password reset-related issues
- $158,000 saved due to employee productivity increase from the general use of 1Password
