Why Should You Make Cyber Resilience A PriorityWhy Should You Make Cyber Resilience A Priority

Cyber resilience was never a top priority for business until recently. As the number of DDoS attacks surged, it affected businesses from around the globe. Business operations were disrupted and revenue was lost. This forced businesses to take cybersecurity resilience more seriously and started investing in Anti DDoS solutions.

The servers are designed to entertain a particular number of requests at once. When it receives more requests, it is overwhelmed and cannot distinguish which requests to entertain and which ones to avoid. This brings your entire business operations to its knees as your servers stop functioning. If your cybersecurity systems are not resilient enough, you will end up paying a hefty price for it.

Rob Clyde, who served as a Vice President at Symantec from the year 2000 to 2009, shared how he coped up with this challenge “We had architected the system to just keep scaling. As attacks occurred, it kept scaling so [legitimate] customers could get their updates without any delays” Sadly, not every business can take this approach as it comes with additional cost. So, how you can protect your business from disruption?

Don’t want your security systems to experience the same fate? Make cyber resilience a priority. This article will cover what is cyber resilience, interesting statistics regarding cybersecurity resilience as well as reasons to make cyber resilience a priority.

Table of Contents

What is Cyber Resilience?
What Does The Data Tell Us?
Why Should You Make Cyber Resilience A Priority?

  1. Reduces Costs
  2. Protects Your Business Reputation
  3. Improve Your Security Posture
  4. Minimize Cybersecurity Risks
  5. Business Continuity

What is Cyber Resilience?

Cyber resilience can mean different things to different people. According to NIST, cyber resilience can be defined as, “The ability to anticipate, withstand, recover from, and adapt to adverse conditions, stresses, attacks, or compromises on systems that use or are enabled by cyber resources. Cyber resiliency is intended to enable mission or business objectives that depend on cyber resources to be achieved in a contested cyber environment.

Meanwhile, the Cyber Resiliency Engineering Framework defines cyber resilience as, “The need for information and communications systems and those who depend on them to be resilient in the face of persistent, stealthy, and sophisticated attacks focused on cyber resources.” 

What Does The Data Tell Us?

 According to Accenture’s The Cyber Resilient CEO report, 96% of CEOs consider cybersecurity as an enabler for business growth and stability. Despite this, 74% of cybersecurity leaders are concerned about their businesses to avert damages from cybersecurity attacks. What’s even worse is that only 5% of CEOs lead on cybersecurity resilience.

Why Should You Make Cyber Resilience A Priority?

Here are some of the reasons why cyber resilience should be a priority for your business.

  1. Reduces Costs

Downtimes can be costly. Even though the cost might vary from industry to industry and based on many different factors, one thing is certain: business disruption can lead to revenue loss. To give you some perspective, an e-commerce store making $100,000 per day can lose $2.5 million in sales due to a one-second page delay or downtime, according to kissmetrics.

When you make cyber resilience a priority, you enforce cybersecurity policies and cybersecurity systems to detect and weed out illegitimate requests so your servers can only focus on legitimate requests from real users. These systems serve as a firewall, blocking malicious requests from reaching your servers and slowing down your applications.

  • Protects Your Business Reputation

Cybersecurity attacks don’t only have financial costs attached to it but it can also tarnish your business reputation as well. Businesses that come under attack or become a victim of data breach loses the trust of their customers and users. It takes decades to build a business reputation and one security incident is enough to destroy it. 

Cyber resilience can help you shield your business reputation by reducing the risk of successful cybersecurity attacks and data breaches. Moreover, cybersecurity resilience can ensure business continuity even during a devastating cybersecurity attack and can even help you recover from the security incident.

  • Improve Your Security Posture

When cyber resilience is your top priority, your business will follow cybersecurity best practices and cybersecurity hygiene. You will install patches as soon as they are available. Steps such as regular monitoring, backup and disaster recovery as well as maintenance all fall under this category. 

For instance, having a backup can save you from paying ransom to cyber criminals. Similarly, installing the latest patches can plug in vulnerabilities in older systems and software before they can be exploited by cyber attackers. Constant performance and security monitoring can tell you about slowdowns as well as suspicious activities taking place on your network.

  • Minimize Cybersecurity Risks

Cyber resilience can safeguard your sensitive data from unauthorized use. Not only that, it can dilute the impact of a cyberattack even if it successfully targets your business. By following cybersecurity best practices, you can recover from cybersecurity attacks in no time and continue your business operations immediately after a cybersecurity incident. 

With a solid cybersecurity defense in place, cyberattackers will find it tough to infiltrate your network and access sensitive data stored on your systems. This makes life tough for threat actors as they have to find a different way to target your business if they want to succeed.

  • Business Continuity

Rosalie McQuaid, cyber resiliency department manager at MITRE sums it up brilliantly when he said, “It’s not about going down and recovering, where you might have slower or degraded operations. That’s really reactive” Rob Clyde agrees with this notion as well. He considers businesses that paid the ransom to recover from a cyberattack as non-cybersecurity resilient. They might have adopted a short-term solution to fix the problem temporarily but you can not call them cyber-resilient.

Do you take cybersecurity resilience for granted or have made it a priority? Share it with us in the comments section below.

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