It was announced on Wednesday that StillSecure (www.stillsecure.com), a network security solutions supplier, has introduced a free of charge online device for customers called the StillSecure PCI Calculator (www.stillsecure.com/pcicomplete/calculator.php)
The purpose behind the designing of this tool was explained in a press release which stated that it will, “help Level 1 though 4 retailers examine, and potentially significantly reduce, the costs and complexities associated with PCI compliance.”
According to StillSecure, with its PCI Complete security solution, Level 1 customers can save up to $750,000, while those between 2 and Level 4 can save approximately $400,000 in the same period of time.
During the previous week, Gartner released its Retail Security and Compliance Survey 2011. This survey investigated the security process of those companies using PCI, along with the recent level of compliance with PCI, how much was being spent on it and what were the security threats.
One of the major conclusions derived from the survey indicated that the costs linked with PCI security and its compliance averaged around $1.7 million over 2.35 years, excluding the costs incurred on advisors.
Within that same time period, Level 1 merchants had exhausted nearly $2.1 million on PCI compliance, while those from Level 2 to Level 4 had spent approximately $1.1 million.
The Gartner also reportedly investigated information regarding investments made towards general PCI compliance and PCI-related security issues.
It was revealed in the study that nearly 28 percent of the respondents thought that their company was wasting far too much of its funds to meet the terms of PCI standards, while 43 percent of them claimed that they had come across at least one security risk. StillSecure ensures that it creates its own marketing strategy for PCI Complete solution, which allegedly provides companies with a, “fully managed and auditor-approved security solution that delivers complete PCI compliance”
“StillSecure has been intensely focused on helping organizations achieve PCI compliance through our fully managed, independently approved solution, PCI Complete,” stated Rajat Bhargava, the CEO of StillSecure. “These solutions are certified by one of the world’s most stringent qualified security assessors and include PCI monitoring, scanning, as well as reporting and evidence creation capabilities that will save organizations as much as 30 to 50 percent on PCI compliance and auditing. Our PCI Calculator allows organizations to compare their current PCI compliance expenditures with other merchants of similar size, while also informing them on steps to reduce the costs of compliance.”