Commvault and GigaOm have released their Cyber Recovery Readiness Report for 2024, and here's what you should learn from reading it...
In this blog, we will summarise the key learning from the report so that you can help your organisation stay on top of its cyber security.
The first point to make is that cyber security breaches happen more often than many people expect, with the majority of companies experiencing at least one in the last year. However, there is a silver lining as experiencing a breach is something that an organisation will learn from, and as a result, secure its cyber resilience and defences, meaning that they are less susceptible to future attacks. Having this experience will also increase the victim's cyber maturity as they will become more aware of the risks and consequences.
Cyber maturity can also be seen clearly through how the priorities of an organisation change after a breach. Most companies prioritise having critical data fully backed up, and recoverable, however, ones who have experience of breaches prioritise understanding their data risk profile much more than organisations without this experience. This maturity also makes you much more aware of the risks, with breach victims being much more likely to recognise challenges and not downplay them.
The landscape of cyber risk is everchanging with new technologies such as AI being harnessed by cyber criminals, and these rapid shifts mean that you must be more prepared than ever before to deal with the possibility of being attacked. Even with new types of technology, hackers are becoming more sophisticated and so their influence is only increasing if your security doesn't upgrade.
One crucial way of preventing cyber attacks is by establishing a clear and comprehensive cyber resilience and recovery plan, led by knowledgeable and proactive leaders. Unfortunately, a significant number of organisations overlook this crucial step, leaving themselves vulnerable to cyber threats that can have devastating consequences. Without a solid plan in place, businesses risk not only financial loss but also damage to their reputation and customer trust. Organisations need to prioritize cybersecurity preparedness and invest in the necessary strategies to mitigate risks and respond effectively to any potential threats.
Furthermore, neglecting security measures is a grave mistake for organisations falling prey to cyber breaches, and there is no room for excuses when it comes to maintaining robust resilience. Consistent testing and backups are essential for fortifying an organisation's defences, as overlooking any of these steps could create an opportunity for hackers to exploit vulnerabilities.
Additionally, organisations are effective at managing cyber security and disaster recovery differently, with over 90% recognising the importance of treating them separately. This indicates that nearly all entities understand the need to address each aspect individually, leading to more effective preparation compared to combining them.
The final step of having a secure recovery plan is to frequently test it, and the cyber maturity of certain organisations really shows, as some are much more likely to test their system monthly or quarterly, whereas organisations who haven't experienced a breach are much less likely, with one in five organisations not testing their cyber recovery plan at all. This is likely due to the myth of trust that having no scars from previous breaches may create.
Conclusively, we can understand that organisations that have suffered data loss or attack, take their cybersecurity and prevention measures much more seriously than those that have not been breached. This is good news for organisations that haven't been breached as they can get ahead of the game and prevent themselves from being victims in the first place. By understanding this, they can become more cyber mature and aware of what needs to be done to stop the risk.
To further understand the need to be aware of the risks, read this infographic to learn more about their findings, and the key statistics that this blog and the report are built on. If you would like to receive a copy of the complete report, contact your COOLSPIRiT account manager today.
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