How Incident Management Can Protect Your Business

Cyber attacks against SMBs are increasing as cyber criminals view small and mid-sized companies as a better target than large companies. Many SMBs don’t have the resources of larger businesses to implement advanced security measures. But more and more SMBs understand the risks of not protecting their companies and the importance of establishing an incident management plan.

What is Incident Management?

Incident management is a series of processes or actions designed to respond to a variety of security threats. These crisis or incidents can jeopardize your company and its future. An incident management plan or outline details the steps you and your team will take to prevent, prepare, respond and recover from any type of crisis. Incident management deals with what you should do before, during and after a cyber attack.

Incident management is important and necessary for business continuity. With a plan in place, you and your team can act quickly and effectively while being calm and in control. The clear instructions will help you to protect your company data and make it more secure, while also guarding against future cyber attacks.

Types of Cyber Attacks and Threats

The activities of cyber criminals are growing in sophistication. They are finding new ways to make money by causing problems for businesses. Some typical cyber crimes include:

  • Stealing money from your business accounts, including clients and customers
  • Identity theft of employee and customers
  • Ransomware is holding your data hostage in exchange for money
  • Selling company data to other criminals or your competitors
  • Hacking that result in partial or complete data loss

Tips for Creating an Incident Management Plan

It’s essential to create an incident management plan that is comprehensive and covers all eventualities. You want a plan that is also practical and reliable. By following the suggestions below, you can develop plans that work best for your business.

1. Create an incident response team consisting of employees trained in incident management, disaster recovery and related capabilities.

2. Identify vulnerabilities and describe the types of incidents that are most likely to occur. Outline the steps that you and your team will take to limit the negative impact of the incident on your business.

3. Make the incident management plan available to every employee. All employees need to understand their role in any crisis and receive proper training.

4. Test all the steps in your incident management plan, and have practice drills with simulated cyber attacks. You can then make adjustments and improvements to your plan.

5. Learn from all cyber attacks or breaches you have. After any attack, analyze what parts of the plan worked and what didn’t.

You have a legal obligation to keep your company protected from cyber criminals. By implementing strategies that allow you to detect, identify and respond to threats, you can mitigate the damage if you ever become the victim of cyber criminals. An incident management plan helps to ensure that your company and its data remain safe and secure.

If you need assistance in creating an incident management plan for your company, RingStor is a leading company that offers solutions for keeping your company and its data truly secure. Contact us today at (609) 955-3422 to discuss your cyber threat concerns.

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