October 3, 2022

What is Cyber Resiliency, and Why Does Your Business Need It?

In today’s digital world, business continuity is more important than ever. With data breaches happening every day, it’s critical that businesses have a plan to protect themselves from cyber attacks. Enter cyber resilience.

Cyber resilience is the ability to protect, detect, respond to, and recover from a cyber attack. It’s a comprehensive approach that includes people, processes, and technology. And it’s something every business needs in order to survive in the current climate.

So, what makes up a solid cyber resilience strategy? And how can you put one in place in your organization? Read on to find out.

What Are The Key Components of Cyber Resilience?

There's no single silver bullet when it comes to cybersecurity. But there are some key components that can help make your organization more resilient to attacks.

  1. A Strong Security Posture. This includes having robust security controls in place, such as firewalls and intrusion detection systems.
  2. A Well-Trained Workforce. Employees need to be aware of security risks and know how to identify and report suspicious activity.
  3. A Comprehensive Incident Response Plan. This plan should be designed to help your organization quickly and effectively respond to a security incident.
  4. A Culture of Security. Security should be a top priority for everyone in your organization, from the C-suite to the front line.
  5. A Commitment to Continuous Improvement. Cybersecurity is ever-changing, and it's important for organizations to have a commitment to learning and staying up to date through exposure at events/conferences, taking courses via professional development stipend, or becoming certified.

Why Is Cyber Resilience Important?

What were once simple viruses and phishing scams have now evolved into much more sophisticated attacks that can target businesses of all sizes. These attacks can be devastating, causing businesses to lose millions of dollars and sensitive data and even to lose their business. In fact, According to a report by IBM, the average cost of a cyberattack in 2022 is USD 4.35 million in 2022.

Building a Cyber Resilience Strategy

It is easy to become overwhelmed with the current cyber security threat landscape. The pace of cyber attacks and data breaches is increasing at a rapid rate, and it can be hard to keep up with all of the available resources and tools. That’s why it’s important to build a cyber resilience strategy from the start. There are several factors that you should consider when building your strategy.

First, you should understand your organization’s risk tolerance and goals for cyber security. Then, you should identify gaps in your existing cyber security defenses, including technical solutions, process improvements, and policy implementation. Finally, you should map out your plan for how you will achieve your goal of driving cyber resilience. By taking these steps, you can create a plan that is tailored to your needs and will help you address potential vulnerabilities before they become an issue.

Let 1Fort Help You Build Cyber Resilience

As you've learned in this article, a resilient organization has strong cyber security defenses, a robust incident response plan, and cyber insurance to protect itself in the event of an attack. Although it can be difficult to know where to start, coming up with a cyber security resiliency, especially for small businesses with limited resources, it's critical. The ability of an organization to rapidly recover from a cyber attack or data breach can be the difference between staying in business or going under. But luckily, there are cyber-security companies that'll help you understand the protection and coverage you need and provide solutions, like 1Fort.

1Fort is the all-in-one cybersecurity and cyber insurance solution that provides businesses with easy-to-understand, affordable, fast, and reliable protection. Designed to grow with your business, 1Fort is the hassle-free cyber coverage you've been looking for.

Reach out for a demo or to learn more today!