that the threat is instantly contained, remediated, and removed, so that critical systems can be restored right away. According to the 2021 “Cost of a Data Breach” report from IBM, they found “nearly 75% of organizations don’t have a consistent enterprise-wide incident response plan.” They also found, “The cost of a data breach is around 50% or $2.46 million lower on average for those that have an incident response plan versus those that don’t.” For non-technical owners, it can be challenging to assess how well the organization is prepared, due to their lack of personal expertise. Yet, there are still ways to know if your current provider is
tests, where staff practices their responses by talking through the exact steps they would take. This is beneficial because it aligns everyone’s efforts, ensures collaboration and is also very useful in the event where you need to prove legitimacy for a cybersecurity insurance claim. It’s much tougher to assert negligence, when the business is continually optimizing their specific response plan SOPs in addition to actively doing “tabletop exercises” to simulate cyberattacks on a regular basis. It’s pivotal for organizations to set aside time to develop
their incident response plan so they can secure their organizations and reestablish the “peace of mind” necessary to build a thriving business. “Businesses are heavily reliant on virtual infrastructure, and this is not going to slow down.
adequately preparing your organization. For example, one thing the business owner should expect is access to a constantly evolving
SOP (standard operating procedure) that details how each department should respond to different types of breaches. IT providers should be spotting new techniques ahead of time and developing responses to new tactics. Additionally, many reputable providers also implement, “tabletop exercises” with customers, which are akin to NASA launch
However, with an ounce of preparedness, they can establish the solid foundation upon which a legacy can be built,” added Whiteley. “Business owners shouldn’t have to deal with this but it’s important that we protect our customers, which is why we educate them, even when it’s a somber topic such as this.” n
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November 2022 | The Business Review
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