When it comes to Cyber Security, most organizations just don’t get it or don’t want to hear about it, until there is a privacy or security breach that is. The damage a data breach can do to a company’s public image is significant, resulting in lost revenue and sending the company into reputation management damage control.
It is evident that with the number of breaches and data privacy violations, companies need to make Cyber Security a priority. This is long overdue. Infosecurity Magazine reports “New research from NCC Group shows that for organization storing 6,000 records or more, the financial damages associated with a data breach exceed the cost of implementing cybersecurity measures.” As the cost of data breaches continue to rise, organizations need to be on the same page when it comes to protecting their data and their reputation.
Having a comprehensive incident response and resolution process in place, in order to manage risks and the possible damage of those risks should they happen, is key. The problem is that most organizations have not done the work to analyze and document those risks and how to deal with them should they occur, resulting in chaos when disaster strikes. Alcea RiskMgr establishes a formal Risk Register for Organizations to track and monitor the progress of Risk Plans and associated actions and gives teams the collaboration needed to mitigate those risks.