How to build Cyber Resilience in your enterprise?

  • Posted on: 4 July 2018
  • By: Estuate

Cyber-ResilienceAs a business grows and modernizes, it demands higher and more efficient governance. Cyber Resilience is an end-to-end governance framework to keep the security of your business intact.

Technology comes with its own pluses and minuses. It brings with it tons of opportunities to grow, but also carries some challenges that cannot be overlooked.

As enterprises embrace modern ways of conducting business and move closer towards digitization, the vulnerabilities associated with data and technology increase. The rising number of data breaches and cyber security incidents is a caution for businesses around the world to rethink their risk management strategies.

Today, businesses need more than just an Information Security plan or a Governance policy to fight hacks and cyber-attacks. They need an end-to-end strategy to prevent security incidents and a bulletproof plan of action to cope with it if need be. That’s where Cyber Resilience comes into picture.

What is Cyber Resilience?

Cyber Resilience is a fairly new concept in the world of Information Technology and has lately gained huge momentum. Simply put, it is the ability of organizations to withstand cybercrime, prepare for the possible threats and build an action plan to recover from it if it ever hits them.  It is a comprehensive framework that aims at protecting the entire organization including its people, processes, and information from cyber crisis.

How is Cyber Resilience different from Cybersecurity?

From a broad prospective, Cyber Resilience and Cyber Security sound synonymous. The two terms are closely related, but cannot be used interchangeably. While Cybersecurity mainly focuses on protecting business information, Cyber Resilience focuses on protecting the business from attacks that can potentially disrupt the entire operations. Cyber Resilience is an integrated and more proactive approach that includes Cybersecurity as a key element.

But why should you care?

Almost all data driven organizations have a governance policy or a risk management framework. You would too. But looking at the huge data breaches at companies like Facebook and Equifax, do you feel confident about your security measures?

As the size of your data and operations increases, cyber threats increase equivalently. Your business is prone to threats like theft of sensitive data, insider breaches, poorly managed processes, and technology driven attacks. In this highly risky digital landscape, attacks can happen anytime, anywhere. A Cyber Resilience framework can keep you immune from security incidents for a long term, without hampering business operations.

How to achieve Cyber Resilience?

Identify

For a scalable Cyber Resilience strategy, you must first take a closer look at the vulnerable areas of your enterprise. Where is all your sensitive information stored? Who are the people using confidential business information? Which devices are used to carry out sensitive processes? Perform a thorough hygiene check at your enterprise, and identify the areas where cyber resilience measures are much needed.

Protect

Once you’ve recognized your most critical assets and processes, you must develop a strategy to protect them from cybercrime. This would involve a change in the security policy, stronger device encryptions, restricting unauthorized usage of external devices, training employees about the importance of cybersecurity and inculcating the best practices to prevent malicious activities.

Detect

Apart from being proactively involved in preventing cybercrime, you also need to closely monitor your business processes, employee activities and sensitive information. Early detection of fraud or malware can minimize the drastic impacts it can have on business operations. Any disturbing act must be notified immediately and appropriate action must be taken.

Respond

Cybercriminals are never at rest, and despite the security measures taken, you could experience a security incident at your enterprise. It could be as minor as use of personal device by an employee for an official task, or as major as leakage of sensitive client data. Once detected, a suspicious activity of any kind must be immediately attended to, and communicated to the right individuals within the enterprise to be able to fight it effectively.

Recover

What’s done is done, but you can always reduce the adversity of a cybercrime with the right measures. This step involves the actions that can be taken to fight back the malicious activity, to avoid it from spreading across different departments and to rectify the fault under your control.

The aftermaths of a security incident can be devastating. Not only does it hamper business activities, the enterprise encounters huge financial losses and its brand value is harshly affected. A bulletproof strategy to prevent cybercrime is a must for all businesses, regardless their size and nature. Cyber Resilience is a smart choice to keep your business data, processes, technologies and people away from cybercrime in the long run.