We are officially in an era where hybrid work environments are the norm — workforces worldwide are collaborating from both at home and the office, using different devices across different networks. With this combined setup also comes an increased reliance on cloud-based platforms to make all processes as efficient and seamless as possible.
These developments further underscore the importance of concrete cybersecurity policies in SaaS businesses regardless of size, because when connectivity widens, the risk of attack increases correspondingly. In fact, a bill has recently been proposed in Congress aiming to bolster the resilience of U.S. cybersecurity infrastructure and gather information on cyber threats using data from incident response reports.
Conducting a Cybersecurity Risk Assessment
Network protection will always remain challenging for even the best-resourced companies, but adopting a mitigation plan is a critical step that all companies should take. But before creating one, it is critical to first perform a cybersecurity risk assessment:
- Determine your scope: Specify the areas that the assessment would cover, such as whether you’ll run a check on the entire organization or on individual business units. You may employ the services of a third-party provider to gather input from stakeholders who fall within the boundaries you’ve set for the assessment.
- Inventory your assets: Create an inventory of all your physical and digital assets, and take note of the most important ones — these are the assets most likely to be targeted and the ones that will cause the most damage if successfully hijacked.
- Gauge potential impact: This is where you determine the likelihood and severity of risks you’ve identified in your asset inventory. Using a scoring system to rate the probability of an attack and the severity of the disruption it might cause is an excellent way to create a “risk matrix” that empowers you to understand your company’s vulnerabilities. This matrix also defines an acceptable level of risk, so that your internal stakeholders can understand how to keep risk within acceptable levels.
- Document risks: Data from risk assessments must be documented so you can regularly review risks, and define what is tolerable as the cybersecurity landscape continues to evolve.
Developing a Foolproof Cybersecurity Incident Response Plan
After you’ve run a thorough risk assessment, you may proceed to formulate your IRP. We’ve listed the basic steps to help you get started:
- Create a dedicated response team.
Should a breach occur, having a dedicated response team enables you to quickly assess the situation and develop an appropriate response, especially if a substantial amount of data has been affected. The team’s size may depend on the type and severity of the breach that occurred, but Atty. Robert Munnelly of law firm Davis Malm suggests that it include at least:
- A manager in charge of the WISP [Written Information Security Plan]
- Internal and external legal counsel
- An IT manager
- A human relations manager
- An operations manager
- A representative from the corporate communications division
The team occupies a crucial role by internally communicating key details about the breach and that a team is already addressing it. They must also remind employees to keep from disclosing information about the breach to external parties so as to contain it within the organization and ensure that internal discussions and the IRP itself are legally protected.
- Identify outside resources.
Your IRP should include all pertinent information about experienced resources that you would utilize in the event of a breach. Examples include computer forensics experts, PR professionals (in the event the breach becomes publicized), and insurance personnel to answer questions on policies concerning the breach.
- Have specific responses for specific breach types.
No two breaches are the same, and so your IRP must be flexible enough to enable your teams to work around the situation should one happen. Some breaches may be minor enough that the WISP-assigned manager could respond on their own accord; others may be massive and require the mobilization of a large-scale response team spanning multiple departments or agencies.
- Utilize the power of checklists.
Checklists are essential in consolidating your action items so that teams don’t overlook important details after a breach takes place. These action items may include:
- Taking note of the date and time the breach occurred
- Mobilizing teams and providing them with preliminary details about the breach
- Putting up a secure perimeter around your systems, whether part of the breach or not
- Refraining from making public statements about the breach until external professionals confirm details
- Regularly review and update your IRP.
Experts recommend reviewing and updating your response plan at least once every year — an outdated IRP that fails to account for recent internal or external developments can put your entire business at risk.
It’s also advisable to test the resiliency of your IRP and personnel by conducting mock breaches and incorporating lessons learned from your after-action report.
Final Thoughts
Cyber threats are becoming more sophisticated by the minute, so it is imperative for businesses of all sizes to have a well-defined plan to prevent attacks in the first place and minimize damage if one occurs. While the nature of cybersecurity threats is always evolving, maintaining up-to-date security policies and response plans will always be time well spent.
Photography by Liam Tucker via Unsplash.