In today’s digital landscape, cyber threats are more sophisticated and damaging than ever before. Establishing a robust cyber resilience strategy before an attack occurs can significantly lessen the impact of any breach. The better prepared an organisation is during and after an incident, the more likely it is to avoid costly downtime that can threaten the bottom line.
Understanding the connection between cyber resilience and business continuity helps IT leaders enact smarter security plans. Still not convinced? Here are three ways cyber resilience supports business continuity:
% of IT and security professionals who say they are very or somewhat confident that they have sufficient visibility into their cybersecurity
% of IT and security professionals who say they are very or somewhat prepared for a data breach
% of organisations that operate between 10 and 49 security tools or platforms
1. Enhanced Preparedness for Cyber Threats
Cyberattacks are now so common that 36% of businesses experienced at least one data breach costing over £1 million in 2024, according to a recent report. Achieving cyber resilience requires IT leaders to prepare continuously for potential cyberattacks, staying ready and proactive rather than reactive.
To reach a secure position, IT leaders should conduct comprehensive risk assessments, develop robust incident response plans, create extensive data backups, and provide regular security training for their teams. Keeping up with evolving regulations and the threat landscape is also crucial.
Cyber resilience is like having a break-glass-in-case-of-emergency tool. It means having a copy of your critical data and ensuring that the necessary systems for business operations are protected in a backup. With secure data backups, businesses can quickly restore workflows, focusing on resolving the incident without worrying about recovery operations simultaneously.
2. Reduced Financial Impact of Cyber Incidents
The financial repercussions of cyberattacks can be severe. The Sophos State of Ransomware 2024 report reveals that 56% of organisations have paid ransoms to retrieve their data, with median payments reaching £2 million. However, ransom payments are just one factor contributing to the overall cost of data breaches.
Legal fees, potential fines for regulatory noncompliance, and system downtime can add to the financial burden. For instance, if a retailer’s website is down for a week, it loses significant revenue daily, and many customers may not return due to the prolonged outage.
Proper cyber resilience strategies can mitigate these risks. By fortifying incident response plans and ensuring regular backups of critical data, businesses can swiftly return to normal operations after a breach. Investing in advanced protective measures such as threat modelling, penetration tests, and vulnerability assessments can also help maintain a strong security posture and reduce the likelihood of costly incidents.
3. Safeguarding Reputation and Customer Trust
Building a credible business reputation takes time, but losing it can happen quickly, especially in the event of a data breach. 66% of consumers report that they won’t trust a company if a data breach compromises their personal data, and three-quarters are likely to sever ties with a brand after a cybersecurity incident. This loss of consumer confidence can have a detrimental impact on revenue, and regaining trust often takes much longer than the immediate effects of a breach.
Cyber resilience strategies help IT leaders protect their organisations’ reputations by maintaining service even under adverse conditions, thus building trust between businesses and consumers. Being prepared with specialised and focused cyber recovery strategies not only restores systems and data but also helps restore trust in your business environment.
By implementing a comprehensive cyber resilience plan, businesses can ensure they are prepared for any eventuality, protecting their operations, financial stability, and reputation.
At New World Norm (NWN), we understand the complexities and challenges posed by emerging digital threats. Our cyber security specialist team of certified risk management consultants are here to help you navigate these risks with confidence. From operational risk management consulting to loss prevention and business continuity solutions, we offer comprehensive services tailored to your needs.
Contact us today to learn how we can help protect your business and personal security from the evolving threat landscape. Let’s work together to ensure a secure and resilient future.
