WHAT IS CYBER RESILIENCE AND WHY IS IT IMPORTANT?
It’s hard to imagine life without information technology in this digital age. From business experiences such as selling and buying shares to personal encounters like posting details and photos on social media, information is disseminated incessantly around cyberspace. It has given society the chance to become more connected and economies more prosperous. However, just as every system comes with risks, the security of cyberspace information is crucial to every enterprise or organization.
Risks like cybersecurity breaches or cyberattacks can cause companies severe damages. These attacks may attempt to destroy, expose, or obtain unauthorized access to computer networks, personal computer devices, infrastructures, or computer information systems.
According to a study conducted by the University of Portsmouth, 43% of businesses and 19% of charities represented in the study experienced cyberattacks in 2018. In the UK, more than 2 million businesses or local firms became victims of different forms of cybercrimes and caused damage to £29.1 billion.
This alarming rate of cyberattacks is the reason why companies should be equipped to manage such risks. Moreover, these attacks could have been dealt with if those businesses have better cyber resilience.
What is Cyber Resilience?
Cyber resilience is the ability of an organization to prepare, respond, and recover when cyberattacks happen. An organization has cyber resilience if it can defend itself against these attacks, limit the effects of a security incident, and guarantee the continuity of its operation during and after the attacks.
Organizations today are beginning to complement their cybersecurity strategies with cyber resilience. While cybersecurity’s main aim is to protect information technology and systems, cyber resilience focuses more on making sure the business is delivered. Its intended outcome is business delivery, keeping business goals intact rather than the IT systems.