Cyber security is a well-known and well-understood concept in IT, and as the threats have evolved so has our ability to prepare against an attack. However, as the criminals have innovated and found new ways to attack and exploit companies, a new concept has necessarily been invented to counter those attacks – cyber resiliency. While cyber security protects against threats, cyber resilience refers to the ability to maintain business operations despite a successful breach or attack.
Unfortunately, there is no foolproof cybersecurity strategy. Cyber resiliency acknowledges that as criminals evolve and get more sophisticated, an attack may eventually break through firewalls and penetrate network systems. Resilience is the ability to achieve continuity of business even as an attack unfolds.
Both cyber security and cyber resilience are vital for any business looking to protect its financial interests, productivity, and reputation. 2020 saw a nearly 70% increase in internet crime – but more importantly, data shows that there is a 40-60% chance that a small business will never reopen after a data breach. This is why learning resilience is so important.
4 Steps to Cyber Resiliency
Risk Assessment: Risk management strategies proactively assess possible risk scenarios that can adversely impact a business or organization. Risk identification, analysis, and evaluation offer a basis for the development of business continuity/disaster recovery plans to maintain their business during a crisis.
Incident Response Plan: According to research, an incident response plan which has been properly tested can save up a business approximately $2 million. This type of plan outlines steps to take in the event of a system breach; who is responsible for each task; how to communicate with employees and customers; and how to evaluate the efficacy of measures taken in response to attacks. An incident response plan, once tested, can lessen the time required to identify and manage a data breach by 74 days.
Business Continuity Plan: Another vital proactive plan to have in place is the business continuity plan. This plan is a set of procedures and policies for diverse circumstances to guarantee a business remains functional in the face of a crisis. 90% of organizations that are unable to recover business operations within five days of an incident will close their doors within a year. Even with that intimidating statistic, data shows that only 49% of companies have a business continuity plan in place.
Disaster Recovery Plan: An integral part of the business continuity plan is known as the disaster recovery plan. The disaster recovery plan targets minimizing damage, then restoring the data and information systems. Data must be backed up on a regular basis and stored at an offsite location so that it can be brought back rapidly in the event of a disaster. An effective BC/DR plan promotes a more rapid rebound and maximizes business uptime.
Many businesses – especially those who are classified as SMBs – do not have the resources, headcount, expertise, or time to execute all 4 of these steps effectively. Alliance IT’s engineers can supplement your IT team with expert assistance and help you to achieve the necessary criteria for robust cybersecurity and cyber resiliency. Call today to find out how to get started – be it through a professional risk or technology assessment, or to help you set up your cloud services environment. Whatever you need in the IT realm, we are here to help.
