Study: Business Continuity Programs Save 39.5% in Daily Data Breach Costs
For those organizations still wondering if business continuity plans are really worth the effort: companies with a BCM program see a 39.5% reduction in the daily cost of a data breach versus those without one – a difference of about $1,655 per day!
This comes from a global study of 1,900 representatives from 419 companies. Of the 226 companies that said they’re involved in BCM resolutions to data breaches, 95% said they had “significant” involvement.
The result was a reduction on the average time to identify and contain a data breach incident by 78 days, leading to average savings of $394,922 during that time period!
Among the most positive revelations in the study: 95% of the companies said uniting their BCM and IT security (cybersecurity, crisis management, cyber simulation testing, etc.) significantly impacted their ability to mitigate the effects of a breach.
Want to ensure your organization’s business continuity plans and IT security are working together? Sign up for the DRI IT/DR Planning workshop, a two-day course where you’ll learn about your responsibilities, the benefits and drawbacks of the tools and processes available to you, and how your organization can increase its preparedness. Click here for more information.