Any online security threat that is not managed properly will usually lead to a bigger, more pressing security threat later. It might even lead to a data breach that could harm the company or leak private information. But if you respond to the incident quickly with a sturdy incident plan, you will be able to minimize your losses and restore services soon. You will also be able to learn from your mistake and reduce further threats to the business.
Incident response also helps an organization to prepare itself for both the known and unknown which is why it is a trusted method to figure out if a security breach has taken place. It also helps an organization create best practices to stop intrusions before they cause damage. It’s also important to remember that security incidents are expensive since businesses have to face all kinds of regulatory fines, legal fees, and costs to recover data.
This affects future profits and can even damage a business’s reputation in the market. A damaged reputation leads to lower customer satisfaction, lower investment, and a decreased chance for growth in the market. And even though organizations cannot eradicate cyber security threats completely, incident response plans help minimize them.