Cyber-resilience is crucial for businesses to minimize the impact of cyber incidents on their primary goals and objectives.
It involves anticipating, withstanding, recovering from, and adapting to adverse cyber conditions, according to the WEF and NIST.
However, implementing a cyber-resilience strategy poses challenges; only 2% of companies can recover from a cyberattack within 24 hours.
Key components include leadership, governance, risk, compliance, people, culture, business processes, technical systems, crisis management, and ecosystem engagement.
Commonly implemented measures include backup tools, MFA, and formal response plans, but challenges lie in metrics, changing company culture, and supply chain security.
Implementing cyber-resilience requires board-level support, collaboration between CIO and CISO, and allocation of up to 20% of cybersecurity budget to resilience projects.
The core cyber-resilience team should be cross-functional, have the necessary authority, and bring in external experts when needed.
Cyber-resilience is an ongoing iterative process that spans the entire organization and requires a combination of technical and organizational efforts.
Experts stress that cyber-resilience is not a project with an endpoint but a continual process that involves multiple phases.
Implementation involves detailed asset inventory, risk prioritization, role definition, incident playbook development, and extensive staff training.