Firms failing to implement watertight cyber security incident response plans

Without a fully tested plan, organisations may find a breach costs $1million more than those whose plans are tried and tested...

Cyber security

More than three quarters of businesses don't have a consistent cyber security incident response plan and half of businesses that do have one in place haven't tested them, according to research by Ponemon Institute.

Those who have thoroughly tested their plans are able to contain an attack within 30 days, which should offer some motivation to those not properly preparing for an incident. Indeed, on average, businesses that have a robust cybersecurity incident plan save over $1 million on the total cost of a data breach, according to the research, which was commissioned by IBM.

"Failing to plan is a plan to fail when it comes to responding to a cybersecurity incident," Ted Julian, vice president of product management and co-founder of IBM Resilient.

"These plans need to be stress tested regularly and need full support from the board to invest in the necessary people, processes and technologies to sustain such a program. When proper planning is paired with investments in automation, we see companies able to save millions of dollars during a breach."

Advertisement
Advertisement - Article continues below
Advertisement - Article continues below

In addition, IBM said that not properly preparing for an incident could also lead to a business falling foul of the GDPR guidelines. Nearly half of businesses questioned in the research said they were not fully compliant with the GDPR.

One of the biggest barriers to being fully compliant and having a watertight strategy is that businesses still don't have the staffing they need for cyber security to be as secure as it could be.

IBM has suggested that cyber security incident management automation will become a more popular topic in future. Although businesses are already using automation for identity management and authentication, incident response platforms and security information and event management (SIEM) tools are still gaining popularity.

Featured Resources

How inkjet can transform your business

Get more out of your business by investing in the right printing technology

Download now

Journey to a modern workplace with Office 365: which tools and when?

A guide to how Office 365 builds a modern workplace

Download now

Modernise and transform your sales organisation

Learn how a modernised sales process can drive your business

Download now

Your guide to managing cloud transformation risk

Realise the benefits. Mitigate the risks

Download now
Advertisement

Recommended

Visit/security/internet-security/354417/avast-and-avg-extensions-pulled-from-chrome
internet security

Avast and AVG extensions pulled from Chrome

19 Dec 2019
Visit/security/354156/google-confirms-android-cameras-can-be-hijacked-to-spy-on-you
Security

Google confirms Android cameras can be hijacked to spy on you

20 Nov 2019

Most Popular

Visit/operating-systems/microsoft-windows/354789/microsoft-pulls-disastrous-windows-10-security-update
Microsoft Windows

Microsoft pulls disastrous Windows 10 security update

17 Feb 2020
Visit/mobile/28299/how-to-use-chromecast-without-wi-fi
Mobile

How to use Chromecast without Wi-Fi

5 Feb 2020
Visit/business/business-operations/354790/hp-shareholders-invited-to-come-dine-with-xerox
Business operations

HP shareholders invited to come dine with Xerox

17 Feb 2020
Visit/operating-systems/27717/how-to-fix-a-stuck-windows-10-update
operating systems

How to fix a stuck Windows 10 update

12 Feb 2020