Why Create a Cyber Incident Response Plan?

Every single business needs a cyber incident response plan. Discover why such a plan is necessary and learn how to get professional help in creating one.  

Top-tier cybersecurity drastically minimizes the risk of a breach but it can’t eliminate the risk entirely. That is why every single company should have a plan for dealing with cyberattacks such as data breaches and ransomware attacks. The following are three more reasons why your company should seriously consider partnering with IT experts in your industry to create a cyber incident response plan that suits the exact needs of your business.

It’s the Law

Companies are required by law to notify anyone who has been affected by a data breach. Exact notification laws vary from state to state but in Colorado the requirements include:

  • Notifying affected individuals within thirty days of discovering the data breach
  • Notifying the state’s attorney general within thirty days of the data breach if the breach exposes the private records of more than five hundred people

Every company needs to have a plan for meeting these requirements. This plan should not only include ways to get in touch with affected individuals but also remedial action your company intends to take to make matters right. This may include offering free credit monitoring to prevent identity theft.

Preventing Future Breaches

A breach is a sign that your system has one or more vulnerabilities. These vulnerabilities can be exploited in the future if you don’t detect and eliminate them.

One of the first things to do after a breach is to have your IT system analyzed to ensure that hackers haven’t left malware on the system that can cause future breaches. You may also want to install new anti-malware programs and update any outdated software to make it difficult for hackers to regain access to your valuable data.

Minimizing Recovery Time

Recovering from a breach is a time-consuming process that can take weeks and cost your company millions of dollars. In fact, recent statistics show that the average IT data breach recovery time is a whopping 69 days. However, companies that can fully recover from a breach in a month or less can save up to a million dollars.

Given these facts, you’ll naturally want to shorten the recovery time so you can once again focus on your business. However, recovering after a breach is easier said than done. Backing up your information regularly is a good start but it’s just the beginning of a good back-up plan. You’ll also want to have experts available who can check your IT set-up for lingering malware. Your back-up system will need to be installed without disrupting your regular business operations, a task that can be challenging if your business doesn’t have a good internet connection. Furthermore, you’ll need to have a plan in place in the event your back-up files are incomplete or corrupted by malware.

Introducing Elevate Services Group

Elevate Services Group is a leading Denver-based IT managed service provider that specializes in cybersecurity and recovery plan creation. At the same time, Elevate doesn’t just focus on preventing and dealing with the aftermath of cyberattacks We also offer cutting edge solutions to help business owners save time and money while offering improved service to customers and suppliers alike. Get in touch with us to find out more or to make an appointment with one of our IT experts.