The Business Case for an Incident Response Program

Incident Response Plan

The vCISO Advantage

At Risk3Sixty, one of the critical components we focus on with each of our vCISO clients is their incident response program (IRP).

The information security professionals working in our vCISO service line help your business fulfill its certification and compliance objectives. But, more importantly, our key focus is to help you build an information security program designed to improve your organization’s overarching information security posture, facilitate business objectives, and scale with your business as it grows.

Why Does An Incident Response Program Matter?

Incident response may seem a bit trivial when looking at an organization’s larger information security operations, but it is a critical component of every information security program that should not be overlooked.

Additionally, the operational and financial benefit of implementing an IRP has never been greater. This is especially true when considering the “not if but when” reality companies face as it relates to information security incidents today.

A recent Forbes article highlights the following statistics faced by organizations in 2021:

  • 78% of companies lack confidence in their cybersecurity posture
  • Nearly 80% of senior IT and IT security leaders believe their organization lacks sufficient protection against cyberattacks
  • The average cost of a data breach is $3.86 million as of 2020

With all of this in mind, it is easy to see how critical it is to ensure your organization is properly equipped to respond, mitigate, and recover from an information security incident.  When looking to build a business case for an incident response program (IRP), the following questions should be answered:

  • What value does an IRP bring to the business?
  • How could the financial impact of a security incident be limited with the implementation of a well-designed incident response program?
  • How do you clearly communicate the impact of a security incident to non-technical stakeholders?
  • Are roles and responsibilities clearly defined that improve decision making efficiency and efficacy?

The Bottom Line

The cost and effort involved in building an IRP can vary based on your current needs.

For instance, if your organization already has the staff and tools in place to support the implementation of an incident response program, the cost and overall effort would be relatively low as you would primarily be building procedures.

However, if you’re going to need to hire for key roles and purchase new tools to support the IRP, your costs and effort will be relatively high. Additionally, there are several other dependencies and considerations t0 account for.

The following blog posts will provide a more holistic view of what goes into an IRP as well as its governing information security program:

Let Us Help

If you’re considering formalizing your organization’s existing incident response practices, you’re in the process of designing an IRP, or your organization needs to build an information security program from the ground up, our vCISO experts will guide you through the process and bolster your organization’s information security posture.

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