IT Pro is supported by its audience. When you purchase through links on our site, we may earn an affiliate commission. Learn more

Firms failing to implement watertight cyber security incident response plans

Without a fully tested plan, organisations may find a breach costs $1million more than those whose plans are tried and tested...

Cyber security

More than three quarters of businesses don't have a consistent cyber security incident response plan and half of businesses that do have one in place haven't tested them, according to research by Ponemon Institute.

Those who have thoroughly tested their plans are able to contain an attack within 30 days, which should offer some motivation to those not properly preparing for an incident. Indeed, on average, businesses that have a robust cybersecurity incident plan save over $1 million on the total cost of a data breach, according to the research, which was commissioned by IBM.

"Failing to plan is a plan to fail when it comes to responding to a cybersecurity incident," Ted Julian, vice president of product management and co-founder of IBM Resilient.

"These plans need to be stress tested regularly and need full support from the board to invest in the necessary people, processes and technologies to sustain such a program. When proper planning is paired with investments in automation, we see companies able to save millions of dollars during a breach."

In addition, IBM said that not properly preparing for an incident could also lead to a business falling foul of the GDPR guidelines. Nearly half of businesses questioned in the research said they were not fully compliant with the GDPR.

One of the biggest barriers to being fully compliant and having a watertight strategy is that businesses still don't have the staffing they need for cyber security to be as secure as it could be.

IBM has suggested that cyber security incident management automation will become a more popular topic in future. Although businesses are already using automation for identity management and authentication, incident response platforms and security information and event management (SIEM) tools are still gaining popularity.

Featured Resources

Accelerating AI modernisation with data infrastructure

Generate business value from your AI initiatives

Free Download

Recommendations for managing AI risks

Integrate your external AI tool findings into your broader security programs

Free Download

Modernise your legacy databases in the cloud

An introduction to cloud databases

Free Download

Powering through to innovation

IT agility drive digital transformation

Free Download

Most Popular

Actively exploited server backdoor remains undetected in most organisations' networks
cyber attacks

Actively exploited server backdoor remains undetected in most organisations' networks

1 Jul 2022
Macmillan Publishers hit by apparent cyber attack as systems are forced offline
Security

Macmillan Publishers hit by apparent cyber attack as systems are forced offline

30 Jun 2022
Former Uber security chief to face fraud charges over hack coverup
data breaches

Former Uber security chief to face fraud charges over hack coverup

29 Jun 2022