Organisations that have endured cyber incidents in the past don’t want to get burned again, according to Commvault’s 2024 Cyber Recovery Readiness Report and, consequently, they often reassess and invest in cyber resilience and recovery strategies in very meaningful ways.
The global survey of 1 000 security and IT professionals across 11 countries, done in collaboration with GigaOm, reveals interesting behaviour changes for organisations that have been breached versus those that have not.
According to the survey:
- Investments in cyber resilience increase: Organisations that have been breached spend nearly 30% more on cybersecurity measures than those that haven’t.
- More attention is given to understanding data risk profiles: Breached organisations are nearly 2.5 times more likely to prioritise understanding their data risk profiles – which highlight data types and relative levels of risk.
- Cyber readiness testing is prioritised: Breached organisations conduct more testing to find gaps in their cyber preparedness plans. Twenty percent of organisations that haven’t been breached do not test their recovery plan at all, that number drops to just 2% for organisations that have been breached.
The impact of these added investments and focus on cyber resilience is significant. According to the survey, breached organisations that have invested in comprehensive cyber recovery plans recover 41% faster than their less-prepared counterparts.
In terms of specific recovery times, breached organisations state that they are 32% more likely to recover within 48 hours compared to those that have not been breached – a much better outcome than the recovery times noted by other respondents, which could be three weeks or more. This reduced downtime can translate to significant savings both in terms of direct financial losses and the preservation of customer trust and brand reputation.
“We’ve all heard the expression hindsight is 20/20, and that could not be more applicable when it comes to the findings of this survey,” says Brian Brockway, CTO at Commvault. “Our survey shows that the most resilient organisations are those that continuously test and refine their recovery strategies – learning from each incident to strengthen their defences. It’s this proactive mindset, rather than reactive spending, that makes the difference.”
Much like health insurance, where the cost of coverage often far outweighs the potential expenses of medical emergencies, cyber recovery readiness serves a similar purpose.
The report underscores that the costs of being breached – ranging from operational disruption to regulatory fines – far exceed the expenses of proactive cyber resilience measures.
“The findings should be a call to action for all organisations, not just those that have been breached,” says Chris Ray, cybersecurity analyst at GigaOm. “Cyberthreats are constantly evolving – and so too must the strategies to counter them. It’s about adopting a holistic approach to cyber resilience that integrates people, processes, and technology – ensuring readiness at every level.”