Less than two weeks ago the largest IT outage in history brought thousands of businesses and millions of workers to a standstill with estimates of the financial fallout exceeding $5.4B.
If you haven't already, you will soon be getting questions from your board, your clients, and all your stakeholders about what can be done to prevent something like that from happening to your organization.
You can't foresee every possible business disruption. However, you can—and must—prepare for them. Here's how you can start:
#1 Conduct a Business Impact Analysis
Identify your critical business functions and the resources supporting them so you can make informed risk management decisions.
#2 Develop, Review, and Practice Incident Response, Disaster Recovery, and Business Continuity Plans
Figuring out what steps to take when a disruption happens is too late. Proactive planning is the key to minimizing down time and ensuring your business can continue to operate.
#3 Third-Party Risk Assessments and Management
We all rely on third-party applications every day, and many are deeply intertwined with our own systems. The CrowdStrike incident goes to show that third-parties bring additional risks, and while many of us are willing to take on those risks, that doesn't mean we can't do our best to mitigate their impact.
We encourage you to explore these steps more in-depth in our blog.
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