The Importance of an Incident Response Plan

Small to medium-sized businesses are prime targets for many cybercriminals. In its 2022 threat report, BlackBerry states that SMBs experience an average of eleven cyberthreats per device per day. While some cyber-attacks may cause minimal problems, others can lead to serious financial loss, business downtime, and more. The company found that of the 70% of SMBs that had experienced cyberattacks, 60% were out of business within the next six months. An IT incident response plan is critical for keeping why your business up and running in the face of constant and growing cyber threats.

All businesses are targets.

One of the lessons businesses learned from the colonial pipeline cyberattack is that it doesn't matter if your business is large or small; every business is a cybercrime target. With this in mind, it’s important to assess how prepared you are to deal with a cyberattack when it occurs. Take the time to identify your current weaknesses and find ways to fortify them against future attacks. 


An incident response plan lets IT staff resolve incidents faster.

An incident response plan helps your IT team cut response and resolution times. The longer it takes for your IT team to respond to and resolve a cyberattack, the greater your business’ risk exposure, and the more revenue it stands to lose. Having a plan in place helps your business restore operations quickly and avoid unnecessary losses. 


Take appropriate action quickly.

An incident response plan helps your business stay organized and lets your staff know exactly what steps they need to take when security is breached. It should include a primary emergency contact that should be called in the event of a cyberthreat or other IT emergency. A company that provides managed cybersecurity services is an ideal choice. They will be able to tell you what steps to take and ensure downtime is kept to a minimum.


Protect your data.

Allowing sensitive customer or company data to fall into the wrong hands can cause many problems for your business. If your customers feel their data isn’t safe with you, they may decide to take their business elsewhere. An incident response plan prioritizes the security of sensitive data and provides direction in case of a breach. Having a plan in place demonstrates that you are actively taking steps to protect your customers and their private information. 


Minimize losses.

Cybercrime can cause significant revenue loss for a business, and many small businesses are simply not financially prepared to recover from such attacks. Even if it seems there isn’t room for cybersecurity in your budget, the prevalence of ransomware attacks makes it indispensable. Like an insurance policy, an incident response plan is an investment in your business that helps minimize loss. 


Strengthen your defenses.

An incident response plan can help you prevent future losses and data breaches by identifying vulnerabilities before they’re exploited. It can help you see what types of cyberattacks are the biggest threats to your business, so you can take proactive steps to protect against them.


Need Help Creating an Incident Response Plan?

A security breach can significantly impact operations. Having an incident response plan in place will help keep your business running smoothly and give you peace of mind during a cyber threat. Pendello Solutions specializes in managed IT solutions for small to medium-sized businesses, and we can help create an incident response plan to protect your organization. For more small business IT tips, browse our blog.