Cyberattacks are a new reality. Whether your business falls victim to a data breach or network or service availability disruption, the repercussions of an attack can have a long-lasting impact on your organization.
According to a 2019 research study conducted by the Ponemon Institute, the average cost of a data breach is around $3.92M. This can include cleaning up and restoring a network as well as re-establishing trust with partners and customers alike.
The worse part is— a cyberattack affects more than your bottom line. Time and time again, high-profile cases in the news show how an organization’s credibility and reputation are also at stake.
What’s the best way to mitigate these risks and achieve cyber resilience?
Check out the 5 steps toward achieving greater cyber-resilience below. These steps are based on a framework created by The U.S. Commerce Department’s National Institute of Standards and Technology (NIST), which provides guidelines, standards, and best practices for cybersecurity-related risk management.
1. Identify. You must pro-actively monitor the market and potential threats and provide ongoing guidance and support to all your employees.
2. Protect. Share cybersecurity best practices and ensure that everyone has access to the latest software, firmware, and cyber protection features.
3. Detect. Monitor your systems closely, and, if you detect a potential vulnerability, share this information with all stakeholders, including those outside your organization.
4. Respond. In the event of a cyber breach, contain the impact and provide assistance to affected stakeholders as well as employees in your organization.
5. Recover. Support recovery planning within your organization so you can restore any affected systems and service.
Assessing risks in your physical security supply chain
To properly defend against cyber threats, it’s important to take a closer look at your supply chain and build a network of trusted vendors.
In general, effective supply chain risk management (SCRM) is essential for ensuring the continuity and profitability of your business. The same principle applies to the vendors that provide the various components of your physical security system, and even those that install or service your equipment.
After all, any system is only as strong as its weakest point.
You can begin by asking your vendors, integrators and any other third-party service providers about their cybersecurity policies and practices. You can also inquire about the tools and resources that might be available to help you harden your system.
How can the right partner enhance cybersecurity?
At Genetec, we like to be more pro-active.
That’s because we believe cybersecurity requires both collaboration and transparency. We openly share our approach to cybersecurity and develop our products with cybersecurity and privacy in mind.
As soon as any known vulnerabilities are uncovered, our customers are the first to hear about it. Our team is also quick to share the latest firmware and software updates, so you always have the latest cybersecurity features at hand.
Let’s be clear—A single data breach or cyberattack can have a domino effect that impacts us all. That’s why open and transparent communication between vendors, integrators, and clients is crucial. In our increasingly connected world, cybersecurity must be a true community effort.
Want to learn more about our approach to cybersecurity? Visit our Trust Center.