Responding to cybersecurity incidents still a major challenge, IBM suggests

77 percent of firms surveyed lack proper incident response plans; while 69 percent report funding for cyber resiliency is insufficient.

Data Security system Shield Protection Verification
Data Security system Shield Protection Verification Image: Shutterstock

IBM Security today reported the consequences of a worldwide report investigating the elements and difficulties of being a Cyber Resilient association. The examination found that 77 percent of respondents admit that they don’t have a formal cybersecurity incidents response plan (CSIRP) connected reliably over their association.

The study was conducted by Ponemon Institute and sponsored by IBM Resilient. Almost 50% of the 2800 respondents detailed that their episode reaction design is either casual/impromptu or totally non-existent.

72 percent of organizations report feeling more Cyber Resilient today than they were last year. Almost 61% of highly resilient organizations credit their certainty to their capacity to employ a gifted workforce, but they have to rely on technology and people to be Cyber Resilient. On the other hand, 60% respondents reported that they less likely to believe in the investment in AI and machine learning as the biggest barrier to Cyber Resilience.

Ted Julian, VP of Product Management and Co-Founder, IBM Resilient said, “Organizations may be feeling more Cyber Resilient today and the biggest reason why was hiring skilled personnel. Having the right staff in place is critical but arming them with the most modern tools to augment their work is equally as important. A response plan that orchestrates human intelligence with machine intelligence is the only way security teams are going to get ahead of the threat and improve overall Cyber Resilience.”

Almost 57% respondents said the time to resolve an incident has increased, while 65 percent reported the severity of the attacks has increased. These areas represent some of the key factors impacting overall cyber resiliency. These issues are additionally aggravated by only 31 percent of those reviewed having a sufficient Cyber Resilience spending plan set up and trouble to hold and enlisting IT Security experts (77 percent).

The lack of a consistent CSIRP is a persistent trend each year despite a key finding from IBM’s 2017 Cost of a Data Breach Study. The cost of a data breach was nearly $1 million lower on average when organizations were able to contain the breach in less than thirty days – highlighting the value and importance of having a strong CSIRP.

Dr. Larry Ponemon said, “A sharp focus in a few crucial areas can make a big difference when it comes to Cyber Resilience. Ensuring the security function is equipped with a proper incident response plan, staffing, and budget will lead to a stronger security posture and better overall Cyber Resilience.”

The executive summary of these findings can be downloaded here.

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