In modern business cyber resilience refers to your ability to prepare for and respond to cyber threats. The cyber-resilient organization is able to withstand challenges that can sink less agile operations.
Cyber-Resilient Organizations Achieve Enterprise Resilience
Cyber resilience (CR) is an integral part of a broader capability called enterprise resilience. When you have the ability to address risk in all of its facets, you have achieved enterprise resilience. Besides resisting cyber attacks, enterprise-resilient companies can respond to political, legal and regulatory risks. Enterprise resilience also enables you to manage operational and financial risk. Each one of these risks can be exacerbated by data breaches. If a hacker breaches your system, the fallout could open you up to civil liability. Risk factors can arise from externalities that are impossible to control. However, well-defined reaction procedures can help you respond to risk events in an efficient manner.
The Lessons of the Global Coronavirus Pandemic
The COVID-19 pandemic taught the business world an object lesson in the need for enterprise resilience. To face the demands of the crisis, companies were forced to engage in comprehensive change and evolution. The pandemic necessitated change in supply chains, revenue streams, liquidity and workforce management. For any company dealing with such complicated shifts, an ill-timed cyber intrusion can prove devastating.
Digital Transformation and Security Challenges
COVID-19 may have been a once-in-a-lifetime pandemic. However, there are many other types of unforeseen disasters that can test your company’s enterprise resiliency. Digital transformation is key for maintaining continuity of services during any crisis situation. However, you must always pair digital transformation with CR. Digitizing your products and services opens the door to new security risks. Here are the three constituent parts that comprise CR.
1. Protection
Too many companies only establish information security protocols after damaging breaches. Such tardiness is very unwise. To maintain CR, you must address security threats in advance of a breach. Insider threats can prove as damaging as external attack. Ensure that only authorized personnel can access your sensitive systems. Furthermore, maintain systems to monitor what authorized users do in your system.
2. Detection
Almost every day, business news stories disclose cyber attacks against major corporations. In addition to causing direct material loss, successful breaches can damage your company’s hard-won reputation. Mitigate these risks by maintaining powerful systems to detect breaches fast. According to security researchers, it takes an average of 280 days for companies to discover and contain data breaches. A delay like that gives the malicious actor plenty of time to steal or destroy data. You must strive for detection systems that interdict breaches as soon as they happen.
3. Evolution
Cyber attacks continually evolve and grow more sophisticated. In this digital arms race, your security measures must evolve as well. CR requires a long-term commitment.
Whatever your budget or your limitations, you can achieve CR through dedicated effort. Ignoring cybersecurity risks can expose you to the malicious actors who continually search for vulnerabilities.
