The growing divide between cyber resilient and non-cyber resilient organisations

In the face of this increasing threat, cyber resilience - the ability to maintain operations despite cyberattacks - has become crucial. 

With cyber threats growing more complex and frequent, the gap between organisations who are cyber resilient and organisations who are not resilient is expanding. Recent incidents highlight the significant effects of cyberattacks on reputation, finances, operations, and stakeholders’ trust. The World Economic Forum lists cyberattacks as one of the top global risks, and the COVID-19 pandemic has heightened organisational exposure to these risks. 

Understanding Cyber Resilience

Cyber resilience extends beyond traditional cybersecurity, which focuses primarily on preventing attacks. Instead, it encompasses a holistic approach that includes the ability to prepare for, respond to, and recover from cyber incidents. A cyber resilient organisation is not only capable of defending against attacks but also ensuring continuity and quick recovery when breaches occur.

Cyber resilience starts well before a potential incident and requires informed risk management, making decisions based on a thorough understanding of the risks. Informed risk management approach involves gathering and analysing all relevant information, learning from incidents and making well-informed decisions that minimise potential negative impacts on the organisation. 

Essential elements of informed risk management are:

• Risk identification - Recognising potential risks that could affect the organisation

• Risk assessment - Evaluating the likelihood and impact of those risks

• Risk prioritisation - Determining which risks need immediate attention based on their potential impact

• Risk mitigation - Implementing a strategy to reduce or manage the identified risks

• Continuous monitoring, regularly reviewing and updating the chosen risk management strategy to adapt new information or changing circumstances

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