What is your experience regarding pricing and costs for Binary Defense MDR?

It has been good. We have saved money, and we have a better product. We are a company that has become an enterprise from a small medium business in two years. Our company passed a certain dollar mark in revenue, so now we are considered a true enterprise company. At the same time, we are in rural western South Dakota, and we are in healthcare. We had to pay more once we got into that enterprise area for functionality and things, but from a price point, we are paying less than before. They save us money, but we have more features, more functionality, and more support. The quality of support is better.

The pricing is very competitive; it's on par with or below others. For those sensitive to pricing, I'd advise that they be holistic in their evaluation and look for hidden costs in the systems from their side that they would have to modify to work with other providers.

Binary Defense is reasonably priced, considering that it saves us from hiring personnel and deters threats that could cost us. At the same time, it may look a little expensive to decision-makers who do not understand the value of a tool like this. You must consider how much you're not spending or what you would need to spend to recreate Binary Defense's capabilities on your own. You should also think about what you would pay to recover your data in a ransomware attack or how much it would cost to mitigate other threats that get into your system.

Binary Defense is fairly priced. I would say that Binary Defense is flexible in negotiating and tailoring a solution based on your specific needs. They can work with you to customize the MDR solution, potentially saving you money on features you may not need. They are customer-friendly and flexible in that sense.

Binary Defense's pricing and licensing are standard compared to others offering similar products. I would say it is worth the cost because it significantly improves your security and can save you more in the long run by preventing major cybersecurity incidents.

The pricing is very good. They are definitely competitive and they were lower at the time that we went with them. That's not why we chose them, but it's always something you have to consider. You need the right security tool. Cost doesn't matter if it's a little bit higher but it's the right solution for your business. You shouldn't skip on security for costs.

The pricing isn't that bad, it's very competitive. I don't feel that it's over-priced and I don't feel that it's under-priced. I have regular meetings with their sales team about any offerings that might benefit us. But if nothing is going on, they don't bother me.

Binary Defense charges by the endpoint, and the price was cheaper than competing products. Their pricing model is fair. If you exceed the number of licensed endpoints, they will let you upgrade without charging you a penalty. If you're worried about the cost, I would recommend checking Binary Defense's prices. It's reasonable compared to what the other solutions are charging. It's hard to understand the value without trying an MDR solution. It's like not having a lock on your front door or your house. It's just necessary.

Binary Defense has changed its pricing model from being primarily based on the volume of data to one based on escalations and incidents they handle. This change is positive because it encourages clients to provide as much data as possible to assist the Binary Defense team in triaging and identifying true positives. However, they also aim to keep costs within a set parameter. This allows for better management of costs and higher accuracy in detecting true positives while minimizing false alerts.

It's valued at the right price. Even with the number of endpoints we have, we don't feel that it's a lot more than any competitor. In fact, it might be less expensive when you look at the fact that you're getting a full flex SOC out of it along with the tools. To someone who is looking at purchasing a managed detection and response (MDR) solution but is concerned about the cost, I'd say that it's worth it. I don't know how you put a cost for sleeping at night, but I can tell you that for the first seven years, I was hands-on and concerned about every alert. I had to do the digging in the SIEM and through the tools to figure it out, and most of them were false positives or a piece of software that made it look like it was a threat but it wasn't, or a QA was using a new tool that we didn't know about. A lot of different things happen and you have to respond to them and then you find out at two o'clock in the morning, after you get out of bed and log in and sit for a half hour, that it was no big deal anyway, and you could have slept. They take away all of that issue. As long as you put the time in those first six months and work with them and make it the product that you want, you're going to be happy in the long run with the cost. We did away with a security product once the MDR was in place, and we're getting rid of a second one right now. So, I've been able to justify pretty much a flat spend over a two or three-year period of time by discontinuing things that were doing the same thing that the MDR does in terms of alerts, searching, and things like that, so in the long run, it wasn't any more than what I was spending.

All IT companies inflate their pricing to some extent. But sometimes companies don't have a big budget. The provider comes in with a high number and then they whittle it down to what both parties can accept. Binary Defense is hindered by the fact that the SIEM they are offering is a big part of their price point and they have to eat it, sometimes, when they try to get a midsize or small company. They either have to filter down their log ingestion or lose some of those logs at the end of the month to meet their cap. That was one of the only positives with Arctic Wolf. I don't know who they were using, but they claimed to have an unlimited monthly amount, and then had cold storage for 90 days. That is one thing that is lacking for any MDR. It's not necessarily an issue specific to Binary Defense. It's just how their pricing structure has to be. From the initial cost that Binary Defense came in with, we pared it down quite a bit over the course of 30 or 60 days. My leadership would say that their cost was high, but realistically, they were in line with the market. They have a good product offering in terms of their XDR strategy, but they could retool it a little bit. I've talked to CSOs and other people in the security space— and this isn't just a problem for Binary Defense—but they have what I call the "package problem" where they try to "line-item" things. I understand they're a service and trying to make money, but the big players like Binary Defense and CrowdStrike need to talk with their marketing and product line people and say, "We need to offer an all-in-one solution." Binary Defense also offers things like deep web scans and a new product that is a collaboration with ExtraHop Networks. They should look at providing their own product. And that deep web stuff should be in an all-in-one package. The reason that we didn't go with that is I didn't think the cost was worth it when there are third-party or even free tools that you can use to supplement that. It just didn't seem like the value was there. If it had been an all-in-one package, as part of the MDR, there would be more value in that. Maybe a larger company that has a bigger spend might be more inclined to mix and match and buy parts of it, but a midrange company like ours needs an all-in-one solution.

The solution's price is spot on; if anything, it's slightly below the norm for most services. Compared to building the same team internally, it would cost more to create the same amount of capability than what we get from an external team. Price-wise, Binary Defense is in a great spot.