Why Every Company Should Have an Incident Response Plan in Place

Even with fortified security, data breaches can happen. Being prepared for the worst with a detailed plan in place can help businesses of varying sizes respond swiftly to the most daunting of possibilities.

What Is an Incident Response Plan?

An incident response plan is a strategy implemented when a company has theft or a data breach. It can include resetting passwords, wiping systems and software, or proactive responses from critical personnel. There is also a customer protection and assurance component intended to uphold business relationships with all clients.

Why Do I Need an Incident Response Plan?

Even multinational corporations can be vulnerable to hackers and cyber attacks. From leaked emails to compromised customer credit card and social security number information, businesses small and large may have vulnerabilities that they’re unaware of. Healthcare companies and their business associates may also be vulnerable to HIPAA-classified data being stolen and sold on the dark web.

The average cost of a data breach is nearly $4 million. Looking at the cost per customer record, companies can expect each stolen record to cost between $200 and $300. For enterprise-scale operations, this adds up fast. Considering the costs for increased protection, cybersecurity measures and an incident response plan quickly pay for themselves in terms of added protection.

The Dangers of a Data Breach

In a nutshell, a security breach involves the loss of sensitive information. This can include cyber incursions, including malware infections, unauthorized access, and destructive attacks, or distributed denial of service attacks from multiple stations. It can also involve insider breaches and theft of equipment.

When this happens, your company may lose proprietary materials and software, intellectual property, and valuable customer data. Beyond that, your clients are left exposed and vulnerable, which can result in loss of income and trust in your company’s ability to safeguard them.

Preserve Your Data with Digital Investigation Services

Our certified digital forensic examiners preserve your data in accordance with standard forensic procedures to be used in current and future litigation. For more information about a file recovery company that you can trust to restore your data, reach out to Cornerstone Discovery today.

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