The art of mitigating a cyberbreach

Every minute of downtime associated with an IT security breach can equate to thousands of dollars in lost earnings.
A Global Cybersecurity Readiness report created by International Data Corp. (IDC) in collaboration with AT&T found that more than 60 percent of businesses surveyed experienced a security breach in 2015. And 42 percent of the organizations surveyed conceded that at least one of those breaches had a material negative impact on their business.
Savvy enterprises approach IT security breaches like any other risk to the business. What separates one company from another is how good they are at limiting cyberrisk and mitigating the impact of an inevitable breach on everyone — from customers to the board of directors — as quickly as possible.
Unfortunately, in that same IDC study, only 34 percent of the respondents claimed they have an effective incident response plan in place. And even then, chances are good that the plans have not been thoroughly tested in advance of a crisis.
Make incident response automatic
Organizations of all sizes not only need to have a well-documented set of incident management procedures in place, they need to make sure every employee knows what they need to do when an incident occurs. Your plan should become part of the company’s muscle memory.
Responding to a security breach involves not only discovering its extent and containing it, but also alerting the appropriate regulatory agencies. A breach is far more than an IT issue. The impact to your business can include everything from potential fines that might be levied to potential damage to the corporate brand.
Customers are more understanding these days about security breaches that affect them. They just don’t want to read about it online first. The first step toward restoring their confidence is to be the first source from which they learn there is a potential problem.

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