Cyber attacks are among the greatest threats to any business in today’s digital age. With most business processes operating online, even a tiny mistake can cost businesses significant losses. Not only can a cyber attack put customers’ sensitive data at risk, but it can also considerably impact a business’s reputation and revenue. While solutions like multifactor authentication and monitoring tools can help, they can not indefinitely protect businesses from potential cyber attacks. A truly secure business must have a cyber security plan in action to mitigate security risks in the event of an attack. This article provides a comprehensive guide for developing a foolproof cyber security strategy.

Conduct a security assessment:

The first step to any cyber security planning is conducting a primary assessment to improve security. This step aims to obtain key details and information on existing protocols and get a deeper insight into an organization’s ability to mitigate a cyber attack.

A comprehensive security assessment can help organizations identify vulnerabilities in systems. By extension, it can also help determine the value of different data stored across the organization’s systems. This data classification allows business owners to prioritize and adequately allocate technological resources wherever necessary.

Some standard data classifications businesses can follow for easy assessment include public data, confidential information, internal use-only data, intellectual property, and compliance-restricted data.

Identify threats according to security goals:

An effective cyber security strategy must align with business goals and objectives. To determine your security goals, you will have to perform an assessment of the current security program, determine key metrics, and measure the organization’s security capabilities.

However, before undertaking these tasks, you must identify potential threats and prioritize risks. You must work with legal teams and third-party vendors to identify contracts, network egress, and ingress points.

You will also have to map your business’s precise network and infrastructure on the cloud. Once all touchpoints are clear, you can conduct a Business Impact Analysis to identify assets with the highest risk.

Asses cyber security plan maturity to improve the program:

The best way to assess your cybersecurity maturity is to use different frameworks. This will allow you to identify security improvement areas that align with your business objectives. Ensure to cover everything from policies and governance to security technologies and recovery capabilities.

Now that you know the exact distance between your current position and your desired security goal, you can begin developing a strategy to reach your destination. Focus on the cybersecurity tools and capabilities you need to attain your security goals.

You can even consider creating a risk management plan before your strategy to gauge the impact of potential risks on your organization. Incorporating policies such as data privacy and data protection incident response is recommended.

Implement and document the security strategy:

Ensuring your cyber security plan is adequately documented is crucial to successfully implementing a security strategy. Record all risk assessments, cybersecurity plans, and procedures to prioritize remediation efforts.

Monitoring and testing your security strategy to ensure the plan aligns with your threat landscape is essential. You’d also need active participation and stakeholder feedback to keep track of your strategy’s effectiveness.

With a changing risk profile, upgrading the cyber security culture is essential. Update your cyber security training programs to ensure everyone in the organization is abreast of new security changes.

Final thoughts on a cyber security plan:

A cyber security policy and strategy cannot be developed or implemented overnight. It is an ongoing process that may require you to revisit assessments and incorporate new strategies. However, by prioritizing threat identification, businesses can mitigate cyber attacks and meet security requirements.