Forrester Consulting conducted a study on Twilio Verify, a service that provides end-to-end SMS authentication solutions, highlighting its potential value to businesses, particularly in terms of Return on Investment (ROI) and risk reduction. The study found that organizations using Twilio Verify achieved a 174% ROI with an NPV of $1.49 million over three years, mainly due to the proactive protection against SMS fraud, streamlined market expansion, and purpose-built authentication features. This suggests that Twilio Verify can significantly benefit businesses by improving user authentication, reducing in-house resources required for maintenance, and minimizing fraud-related costs.