Build a holistic resiliency program to effectively identify, assess, remediate, and manage IT risk

Cybersecurity and IT risk management are the responsibilities of everyone in the organization. No longer is cybersecurity considered only an IT problem or just a concern of the security operations team. Having a strategic advisory management program in place ensures the organization has the ability to deploy the proper program to deal with ongoing cyberattacks, risks, and processes.

The program must have clear visibility across the entire organization, from the system administrator to the board of directors. Every organization, regardless of market sector, has faced attacks in some form. Ransomware, malware, and denial of service attacks have plagued organizations for years. Each of the attack vectors impacts an organization, from revenue loss and, in many cases, on the brand itself.

Alignment with the right security framework for acting on cyber risk is important

Before developing a cyber-IT risk program, your organization must consider the following questions:

These important elements compel the organization to no longer compartmentalize cyber risk into a small, poorly funded team. Organizations, according to Gartner, are beginning to fund these programs. Worldwide spending in information security and risk management technology and services was forecast to grow 12.4 percent to reach $150.4 billion in 2021, according to the latest forecast from Gartner, Inc. Security and risk management spending grew 6.4 percent in 2020. (Gartner)

Cybersecurity and Insurance

Yes, cybersecurity insurance has an important role in an overall risk strategy. However, in many cases, if the insurance company does cover the damages caused by a cybersecurity attack, the company will come back and sue the company for not having done “enough” to prevent the event from happening in the first place.

Cyber-liability insurance helps companies recover from cyberattacks and other data breaches, either at your business or at your client’s business. It covers the cost of responding to, investigating, and cleaning up damage caused by a data breach.

You need cyber insurance if your business:

EVEE Consulting Can to Meet You Where You Are

Cyber-resiliency strategies are no longer a project or a line item or even a “check-the-box” part of doing business. Organizations lose millions each year by not having a properly managed and well-funded program.

IT risk programs that include a budget, qualified personnel, and executive board-level representation are a necessity, not an afterthought.

When working with the experts at EVEE Consulting, you will gain a critical partner in your journey toward creating a security holistic cyber-resiliency program.