Nothing can bring business operations to a halt faster than the words “security breach.”
Under the shadow of the GDPR, and other regulations put in place after major security breaches were discovered, every company now works under the understanding that it’s their responsibility to keep their customers’ data safe. Also, if a breach of data occurred, then it’s also their responsibility to act swiftly and inform their customers as soon as possible.
As you might have known already, these tasks are easier said than done. Did you know that, on average, a company will find out that there has been a security breach in about 197 days, and then work on containing the threat for 69 days?
Keep on reading for our little guide on how to prepare for a security breach. We’ll also highlight how preparation can transform your firm’s response time frame to a breach.
Security Breach 101: Setting up a Data Breach Response Plan
In the simplest of terms, the best strategy for dealing with a data breach is having a data breach response plan in place. After all, in 2020, there’s a multitude of cybersecurity compliance to keep in mind.
Basically, a data breach response plan is the blueprint protocol of damage control and diminishing the impact of a major security leak.
You’ll find that a well-tailored data breach response plan will have a role for every person in your company, and once a breach has been detected, your company will be working like a well-oiled machine to discover, respond, and contain the threat.
What’s great about having such a plan on hand is the peace of mind during a crisis, knowing that there is a well-thought-out plan in place that’s already underway. After all, you can’t expect to formulate a half-decent response in the middle of a breach.
The Importance of Preparation on Data Breach Response Time
There are very few factors that can impact your company’s response time to a data breach than having preparations ready.
According to a Centrify study, “highly secure” companies were able to show a quick reaction to data breaches, as well as showcases recovered stock values after —approximately— seven days.
Needless to say, it’s a strong indicator that having a cybersecurity plan in the wings can mean the difference between a mortally-injuring breach, and a minimal breach.
However, you might be wondering what does being prepared actually entail?
The Characteristics of a High-Security Posture Organization
For a company to secure its data, it needs to have planned for a separate budget purely for staffing and investing in security technologies.
For example, a well-prepared company will have training that tackles identification, containment, and eradication of security breaches. Besides, it needs to have cybersecurity awareness, that can work on combating employee negligence.
Furthermore, conducting regular audits and assessments of security weak points and vulnerabilities can be key to lowering the risk of dealing with a security breach in the first place.
Ready to Switch on Your Security Plan?
Whether you’re a data protection officer in a huge corporation, or you’re the CEO of a small business, you need to have a security protocol in place for the dreaded security breach that you may encounter as the cost of doing business in the 21st century.
Now, you’re more familiar with essential mechanisms like a data breach response plan, as well as response time. The next step is exploring your security options.
Check out our breach response planning section to learn more. However, if you’re currently dealing with an active breach, make sure to contact us via our breach hotline to get support as soon as possible.