Quick Intelligence Blog

Why Your Business Needs a Cyber Resiliency Strategy

Recovery wooden sign with a beach on backgroundIn general, resilience refers to the ability to bounce back quickly after adversity. Cyber resilience refers to being able to quickly recover from a cyber security challenge. In today’s cyber world, companies that are cyber resilient are the ones who will continue to thrive.

To build cyber resiliency, organizations need to strategize what they need to protect from cyber attacks and how to do it. Typically, a business needs to protect its mission-critical data and its systems. Once an organization knows this, it can build upon compliance and governance frameworks to build a cyber-resilient strategy.

The 2021 Poneman/IBM study “Cost of a Data Breach Report” found that the average time it took businesses to detect and contain a data breach was 287 days (212 to detect, 75 to contain). Businesses that had incident response plans were able to reduce their costs to $3.25 million, while those that did not have plans in place experienced an average cost of $5.71 million (representing a 54.9% difference.) Having an incident response plan helps improve your cyber resiliency. And this increase in cyber resiliency can save your business both time and money.

The most cyber-resilient organizations are the ones that have the best strategy. Having the best strategies includes regular reviews of their plans to ensure they align with changing digital technologies. Organizations must strive to continuously refresh and evolve their cyber security programs, and in turn, their cyber resiliency strategies to stay ahead of new and emerging cyber threats.

A cyber resilience strategy can be developed using your organization's cyber security framework. The framework will also allow you to learn of any gaps in cybersecurity and address them before a cyber event happens. The NIST Cyber Security Framework is the one most often used by organizations.

Need help getting cyber resilient? Contact Quick Intelligence for more details on building a cyber resiliency strategy that will save you time and money.

Topics: Ransomware cyber security Breach Digital Transformation