Hacking of organizations’ systems is becoming increasingly commonplace, even with advancements in security practices. To mitigate risk, a company must have an enterprise-level, cross-functional incident response plan that is rehearsed and practiced. In the event of an incident a company with a rehearsed plan can avoid delays and mistakes, minimize conflicts between functions, and ensure regulatory, legal and contractual reporting requirements are met.
Companies and organizations across the globe face increasing threats of a security breach — both from internal threats (disgruntled employees or mislaid documents or laptops) and external threats (criminal networks, state-sponsored espionage and hacktivists). Breaches and other cybersecurity incidents can damage reputation and give rise to operational and legal risks.