For years, managed service professionals and IT experts have championed the concept of cyber security – making it one of the most well-known and talked about topics in the IT world. This is no wonder, given the intense online attacks threatening companies of all sizes. Cyber security has taken center stage as criminals and hackers have become increasingly sophisticated and innovative in their methods. Cyber security, although important, has necessarily evolved as well, creating a new buzzword that reflects our times – cyber resiliency. While cyber security attempts to thwart all attacks, cyber resilience speaks to the need for a company to maintain business operations despite a successful attack.
Given the ever-changing landscape, there is no cybersecurity strategy – no matter how cutting edge – that guarantees complete protection against attack. Cyber resiliency acknowledges that there is a strong potential for an attack to eventually breach the firewalls and infiltrate network systems. Resilience is the capability to perform key business objectives even as the attack occurs.
Both concepts – cyber security and cyber resilience – are crucial for any organization that is interested in protecting its productivity, reputation, and financial stability. The last two years have seen a dramatic uptick in internet crime – but more devastating, the research shows that there is as much as a 60% chance that a small organization will never reopen after a significant cyber attack. This is why learning about and preparing for resilience is so essential.
4 Facets of Cyber Resiliency
Risk Assessment: Risk management strategies evaluate potential risk scenarios that might negatively impact any organization. The identification, analysis, and assessment of risk provide a basis for developing disaster recovery strategies that maintain continuity during a crisis brought on by a cyber attack.
Incident Response Plan: According to experts, an incident response plan which has been adequately tested can save a business up to $2 million dollars on average. This kind of strategy outlines steps that need to be taken if the system is compromised; such as who is responsible for each job; a plan to communicate with personnel and clients after an incident, and how to assess the effectiveness of the steps taken in response to the crisis. An incident response plan, once tested, can reduce the amount of time needed to identify and manage a data breach.
Business Continuity Plan: Another essential plan to implement is the business continuity plan. This document provides procedures and policies for various potential circumstances, with the goal of guaranteeing functionality in the event of a crisis. The data shows that 9 out of 10 organizations that do not recover operations within a week will shut down within a year. While that statistic seems pretty dire, it is exacerbated by the fact that less than 50% of companies have this type of plan in place.
Disaster Recovery Plan: The disaster recovery plan (DRP) is an important component of the business continuity plan. It focuses on mitigating any damage, then restoring the data and information systems. The DRP necessitates that data be backed up regularly and kept at an offsite location so that it can be recovered quickly in the event of a catastrophic event. An effective BC/DR plan allows for a more rapid recovery – and greatly enhances business uptime.
Many companies – especially SMBs – do not have access to the resources, personnel, expertise, or time to develop all 4 of the above components to their best advantage. Alliance IT’s professional team of IT experts can supplement your own employees, providing assistance and helping you to achieve true cyber resiliency. Call today to get started – we are here to help.
