Resource

Cyber resilience: A guide to navigating modern risks

Oct 17, 2024 · Authored by Jeff Krull, Garrett Gosh, Mike Cullen, Matt Gilbert, Leo Alvarez, Brian Nichols

In today’s digital world, cybersecurity is a critical business imperative, not just an IT concern. With evolving cyber threats like ransomware and data breaches, organizations must adopt a proactive approach to protect their systems and data. The interconnected technology ecosystem, while beneficial, also poses risks, as issues can escalate quickly into disasters. Modern cybersecurity requires new thinking, considering new threats, questions, steps to mitigate risks and increase cyber resilience. 

Organizations are now deeply investigating their operations and vendors as part of their enterprise risk management (ERM) programs. The focus has shifted from preventing cyberattacks to being resilient when they occur. There is no one-size-fits-all solution for cybersecurity, it requires tailored investments in people, processes and technology. 

The July 2024 CrowdStrike outage, causing billions in losses and operational delays, highlighted the need for robust risk management. This incident, along with past events like the SolarWinds attack in 2020 and the Colonial Pipeline attack in 2021, underscores the importance of cyber resilience. 

These incidents show that both malicious attacks and simple errors can cause significant disruptions. Therefore, being prepared for cyber incidents is crucial. While preparation can be time-consuming and costly, investing in cyber resilience today can save organizations from future disasters. Proactive cybersecurity investments are essential for long-term protection and stability. 

Baker Tilly’s cyber resilience guide provides you with: 

• Leading cybersecurity practices 

Incident response planning 

Recording planning 

Continuity planning 

Training and awareness 

Simulations, run-throughs and tests 

• Considerations for third- and fourth-party vendors risk management 
• A checklist of questions organizations should be asking, related to people, process and technology, and vendor risk. 

For further discussion on cyber resilience connect with a Baker Tilly cybersecurity specialist.

Asking the right questions about people, processes, technology, and vendors is essential. Our cyber resilience guide further elaborates on leading cybersecurity practices and a checklist of questions to strengthen your cyber resilience.