The onset of the COVID-19 pandemic and the subsequent rise of remote work has forced IT teams to implement more robust security systems for devices in different locations. 41% of Chief Information Security Officers (CISOs) have reported that transformation and hybrid IT has been the most challenging aspect since the pandemic's start.
In the US alone, IBM reported data breaches cost companies an average of $9.4 million. This work environment shift has reminded cybersecurity professionals that just focusing on protection is not enough: How fast they can recover from a cyberattack needs to be factored into the equation as well.
Cybersecurity and cyber-resilience are not mutually exclusive but rather practices that support one another. Cybersecurity focuses on protection against computer hackers, while companies build cyber-resilience through discipline and small but constant actions that will minimize damages in the face of cyberattacks. Both are equally important in the battle against cybercriminals.
But how can you become more resilient once you’ve secured your systems?
Small steps: big impact
A cyber-resilient company creates a culture around keeping systems and data safe. Everyone in the organization, even outside IT teams, must become aware of their everyday actions to ensure resilience. It’s a cliche, but when it comes to cybersecurity, you are only as strong as your weakest link. And human error accounts for almost all cybersecurity vulnerabilities. Even if you provide staff with the right software, sufficient training is essential.
Follow two small steps: do software updates and run data backups. This might sound like your typical systems engineer talking about how sacred updates are - but they have a point on this one. 54% of cyberattacks happened on external-facing applications like Microsoft Exchange, which had reported vulnerabilities and new patches in its latest update. Here, people from every department should run these updates whenever the software prompts them to.
Offline data backups will also protect your assets in the case of file corruption or de-encryption from ransomware attacks. Going by the book and scheduling data backups on a regular basis will ensure your company operations can continue despite cyberattacks.
Quick action plans
Adopting a ‘when’ instead of an ‘if’ mentality, like 83% of companies on IBM’s report, is crucial. This will lead you to have plans with your IT team for immediate action following an attack. Your plan should come down to three key actions: identifying critical contacts in the case of an emergency, establishing a secure communication channel with these contacts, and communicating the emergency to the company.
Your list of contacts should include stakeholders the attack might affect: Software vendors, partners, banks, and incident response services (companies that specialize in these situations).
The way you communicate an attack is also paramount. Make sure you set up channels, like specific chat platforms, that are not directly associated with daily communications to minimize the risk of compromising this service as well. Immediately report this breach to the rest of the company too, regardless of being non-IT departments. Everyone should be in the loop of these situations to avoid misinformation and increase the proactivity of your action plan.
Additionally, to preserve consumer confidence and reduce financial losses, it is necessary to ensure that key company operations can continue even in the event of an interruption. This may involve putting backup and recovery measures in place, including data backups and disaster recovery strategies.
The importance of cyber awareness training
Shockingly, only 42% of companies involve their employees in cybersecurity awareness training. This number is relatively low compared to the high number of attack surfaces that employees of all departments are responsible for. Training your staff on identifying a compromised system, a phishing attempt, and further potential threats is crucial to whether your operations will continue to keep serving customers or not.
Employees are less likely to fall victim to traps if they are trained to recognize typical assaults and avoid common security risks. Lessons on cybersecurity will also provide employees with a solid grasp of the company's data security strategy, enabling them to react quickly and decisively should emergencies happen. The organization will be better equipped to avoid, mitigate, and respond rapidly to cyber attacks by offering this crucial training, increasing the enterprise's overall cyber-resilience.
Periodical cybersecurity awareness training will keep your company informed of new cyberattack modalities and how to handle them. For example, a computer suddenly running slowly might mean a bug in the system. If an employee notices it, they can inform their IT team to inspect the situation and spot an issue before it snowballs.
Businesses can improve consumer trust and confidence, secure company continuity in the case of a cyber crisis, and boost general productivity and efficiency by putting cyber resilience measures into place.
