Balancing the Cost of Handling Alerts and Managing Risk

Balancing the Cost of Handling Alerts and Managing Risk

Balancing the Cost of Handling Alerts and Managing RiskHow much do you believe a security breach would cost your organization? Many business leaders and key decision makers focus more on the costs associated with protection than they do on the potential and significant losses that they could incur should an attack be successful. What’s needed is a healthy balance between the costs of managing risk and the savings that having the right cyber security incident response strategy can produce.

Nowadays, cyber-attacks are much more complex than they once were. They’re also coming in at an almost mind-boggling rate. With such a huge volume and increased sophistication of incoming threats, being able to stay a step ahead is becoming more and more challenging.

Some organizations limit their security budgets to basic monitoring software and rely on their IT personnel to handle the influx of incoming alerts and identify legitimate incidents. Unfortunately, this tactic is ineffective, which means the savings realized by limiting spending on protection can and very often will be eaten up by the financial impact of a successful breach.

Another issue companies of every size and industry are facing today is the sheer number of alerts that are coming in. IT departments are being inundated and are becoming buried under a mountain of alerts that is nearly impossible to sift through manually. As a result, legitimate threats are often able to slip by undetected and allowed to wreak havoc unless and until they are finally identified and addressed. In the meantime, the entire organization and its customers and stakeholders are placed at serious risk.

Simply put, the cyber security defenses of yesterday are no match for the level of risk and number of threats that exist today. Yet despite the almost daily headlines showcasing prominent organizations falling victim to cyber criminals, many executives are still hesitant to make an investment to enhance their existing cyber security incident response strategies. Part of this is due to a lack of knowledge and understanding of how to strike the right balance – one that will provide proactive protection without breaking the bank.

The key to thwarting today’s sophisticated hackers is to beat them at their own game. That means using technology to quickly and effectively hone in on only those incidents that really matter. Automation can facilitate this strategy by working in sync with existing monitoring systems and acting as 24/7/365 guard against any and all incoming threats. Legitimate risks are either addressed automatically or escalated to the appropriate party to be handled as quickly and effectively as possible.

The best news is, this type of automated cyber security incident response doesn’t have to cost an arm and a leg. To the contrary, with the right tool, staffing numbers can be kept at a minimum without the added risk of lessening the protection against incoming attacks. Additionally, with the combination of fewer incidents getting through and faster, more effective response time on those that do, the overall risk (and potential financial impact) is also dramatically reduced.

Today’s organizations face a whole new level of cyber-crime which human personnel is neither prepared nor capable of handling. The good news is, solid protection is possible with a comfortable balance between cost and return. It starts with the right cyber security incident response strategy.

Is your company truly safe? Interested in learning more about how you can fortify your defense without stretching your budget? Get started today with a free trial of eyeShare.





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