Preparation is key to ensuring incidents are quickly detected and moreover, that your response process is as effective as possible. The time elapsed between first detection of a breach and its containment significantly impacts the overall costs incurred. Therefore, if your organisation can reduce the time taken to identify and contain a data breach (with incident response playbooks and plans), you’re better positioned to minimise financial, reputational, operational and compliance-related consequences.
So, we’ve established the importance of Incident Response Plans and Playbooks, but where to begin with actually creating them? With so many types of cyber security incidents to protect against, creating a comprehensive IR plan might seem unfeasible alone. Luckily, Content Security can help by:
To elaborate, a breach with a lifecycle over 200 days cost around $4.87 million in 2021, vs. $3.61 million for a breach with a lifecycle of less than 200 days.
This is a total cost gap of $2.46m or 54.9 per cent. These figures show a growing cost difference effectiveness of IR capabilities in just 2021. However, when we compare the numbers year-over-year, it’s clear that testing is only improving response processes and minimising costs even more. For example, the average cost difference in 2020 was only 42.1 percent, or $1.77m.IBM's Cost of a Data Breach Report
Ultimately, an IR plan is formal, systematic document outlining roles, accountability and general plans of action across the 6 stages of Incident Response:
As a result, they prove to be rarely followed when an incident occurs. That’s why in addition to providing plans and playbooks, our experts run through incident-based scenarios.
This includes table-top (TTX) and/or live-fire exercises (LFX) to ensure that your IR process will be triggered in a real-world incident. Moreover, these activities allow key players to understand their roles and responsibilities in the IR process, thus improving response actions undertaken and time taken to recovery.
This includes data breaches, malware outbreaks, internal frauds and system
misuse, cloud compromises, phishing, sexual harassment or other industrial relation disputes involving information systems.
Moreover, our services extend beyond just critical incident response. We specialise in Security Assurance Services, Governance, Risk and Compliance, and Enterprise Services, partnering with Strategic Vendors to protect your business.