BIA

Conducting a BIA is an essential component of a BC plan. An impact analysis seeks to conduct a risk assessment of all possible attack vectors and the financial and other business-related costs in case these security incidents are successful. This engagement is also a regulatory requirement and serves other purposes, such as legal, employee safety, and financial fallouts. Recent studies have shown that a majority of companies (more than 70%) are making DR as well as BC plans without up-to-date BIA information.

This means that these plans are more likely to fail in case of a security incident. The cybersecurity landscape keeps evolving, and new attack vectors keep coming up all the time. In addition, the technologies in use at companies keep changing with the times as well. For instance, companies that use third-party services such as cloud services and edge technologies are reliant on software that keeps being updated all the time. This software keeps being updated to ensure...