Every organization that stores or handles data is at risk of a cyber-attack. As technology advances, companies are collecting, storing, and transferring more personal information about their customers and employees than ever before. This not only puts a target on your business back, but it also means that just one breach can affect thousands if not millions of individuals. Unfortunately, for businesses, cyber incidents cost more than just data.
Data breaches are becoming increasingly expensive. According to a survey conducted by Ponemon Institute, the average cost of a data breach is $255 per lost or stolen record.
How will your business pay for that?
Cyber incidents can lead to serious reputational damage. When wide-scale breaches occur, a company’s reputation can be tarnished, sometimes permanently. In addition, the public holds organizations accountable for major losses of personal data.
Most organizations have some form of data protection in place. While these protections are critical for minimizing the damages caused by a breach, they don’t provide clear action steps following an attack. That’s where cyber incident response plans can help.
Cyber incident response plans are written guides comprised of instructions, procedures, and protocols that enable an organization to respond to and recover from various kinds of data security incidents.
Cyber incident response plans give organizations the tools they need to further enhance their data protection practices as well as help them.
The Big 5
Here are 5 reasons why you should implement a cyber incident plan today-
- Minimize the impact of cyber security incidents
- Maintain business continuity in the face of major threats
- Prevent the loss of data critical to your business
- Strengthen your reputation as a secure business, thus increasing partner and customer confidence
- Improve the overall security of your organization.
Has your current representation helped you create a formal Cyber Incident Response Plan? If not, let us know. We’d love the opportunity to help you create one for your business and help you move your business from danger to a safe place with us.