Security budgets are up 77% compared with 2021, according to the inaugural business resilience report launched today by Interactive, in partnership with ADAPT.
To reap true rewards from this additional expenditure, the report, Your cyber security posture will determine business resilience. Are you ready?, confirms that cyber security can no longer be the missing link in business continuity planning. Organisations that aspire to become more resilient must build a cohesive relationship between business continuity and cyber security.
It’s true that the pandemic has accelerated the hierarchy of cyber security in organisations, the research shows that organisations have boosted their cyber security focus, increasing by 62%. Yet only half of CEOs and 53% of Boards meet with CISOs on a quarterly basis.
Interactive’s CISO, Fred Thiele, said “A resilient organisation is one that can adjust to misfortune and continue to deliver on its core business. This is especially true during a crisis. Despite policies and regulation, few organisations are treating cyber security as a business resilience issue. Often, cyber security teams are independent from business resilience teams, which leads to confusion and poor decision making.”
Interactive has provided technology solutions to its customers for more than 30 years including cyber security, business continuity, data centres, multi cloud, network services and hardware maintenance. A provider of business continuity suites, Interactive has seen first hand the devastating effects of cyber attacks. Its significant experience supporting Australia’s critical infrastructure with business continuity gives the managed service provider unique insights into organisations and their business resilience gaps.
“True business resilience is achieved by having a cohesive relationship between business continuity and cyber security teams. Those who don’t leave themselves open to significant business disruption, not only to infrastructure but to customer trust, data privacy and brand damage”, said Thiele.
As part of the report, Interactive shares its six-step framework, the Business Resilience Roadmap, for achieving real business resilience with cyber security at its core.
“The scale and severity of cyber security events continue to rise year-on-year. In this volatile environment, cyber security can no longer be treated as a compliance or IT issue. Understanding your current cyber resilience status will act as a catalyst for getting business continuity and cyber security teams working together and importantly, incorporating disruptions caused by cyber threats into business continuity plans”, said Thiele.