In a digitized world where cyberattacks are growing at an alarming rate every day, it is hard to imagine how running a business without a cyber resiliency strategy will be. With the shift of business operations to the hybrid environment, cyberattacks have continuously plagued businesses, and with new cyberattack trends and techniques coming up, no business is safe.
According to a 2021 Statista report, 23% of Canadian organizations anticipate a significant yearly increase in ransomware attacks in 2022, and in 2022, malware attacks were projected to increase by 43% compared to 2021. Another report stated that successful cyberattacks affected over 78% of Canadian organizations in one year.
As a result of these reports, businesses are constantly looking for ways to battle cyberattacks; that is where cyber resilience comes in. Being cyber resilient allows you to prepare ahead and effectively respond to and recover from the attack. Continue reading to find out what it means to be cyber-resilient and protect your core business functions.
Although not specific, cyber resilience is built over a period of time and refers to how a business prepares to deal with vulnerabilities and threats.
Cyber resilience is the ability to foresee or expect, respond to, and quickly recover from cyber security incidents. In simple terms, cyber resilience means a business’s ability to carry on with its business operation despite facing a cyberattack, breach, or data loss incident.
Cyber resilience focuses on what happens when various cybersecurity measures fail. Resiliency takes into consideration when the business operations rely on the technologies, where important data is stored, and how those areas will be affected by disruptions.
No matter the case, being cyber resilient in your business can effectively reduce the disruptions with cyber incidents.
The goal of cyber resilience to your business is to help you effectively manage, reduce, and quickly recover from cyberattacks with little to no damage to your business. Not only does it allow you to defend against known cyber crises and threats, but it also ensures you survive and thrive in the face of unforeseen and unpredicted potentially harmful situations.
Also, with a cyber resilience strategy in place, your business functions remain unhindered even in the face of a threat or breach.
One reason your business needs to pay attention to being cyber resilient is to avoid various damaging and disastrous incidents that may occur.
If threats and malicious actors target your business, it is likely that your business network will be compromised. That is why you have to be ready to persevere through the attacks. Cyber resiliency allows you to do that.
Building cyber resiliency in your business architecture will reduce the probability of a successful cyber attack and minimize the damage if the attack is successful.
Here is the importance of your business being cyber resilient
No matter what your business is into, you have customers whose data is stored in your database. As a result, you are responsible for the safety of the data. Being cyber resilient ensures all data are kept safe, and in the case of an attack, you are prepared and ready to keep your customers’ information safe.
Regardless of the IT protection plan you have in place; the fact remains that there is a possibility that it can be breached, leading to data and financial losses. Being cyber resilient ensures that the impact will be reduced in the event of a successful attack, as well as the data and financial losses.
A breach or a cyberattack can weaken a business and slow down its operations or, in a worst-case scenario, cause the business to close down. Being cyber resilient ensures business continuity and that you are prepared in the case of a malware, virus, or ransomware attack to protect your business from unwanted interruptions and get the operations back on track with little to no downtime.
Being cyber resilient helps in building customers’ trust in your business. They believe you have solid safety measures and are conscious of always protecting your data.
There is no one answer to this question. Although you may already have various systems in place to help counter cyberattacks and threats; however, having a cyber resiliency plan will ensure you are adequately prepared and ready to minimize the damage.
Here’s a list of questions to assess your business’s readiness for a cyberattack or threat.
Answering these questions will help you build a solid protective system and become cyber resilient.
Through a multi-layer approach, we incorporate cyber security solutions to enhance protection against cyberattacks using cyber resilience approaches. To be cyber resilient, send us a message or reach out to us at 705-222-8324.