Latest Commvault Research Reveals How
Proactive Investments and Attention to Cyber Recovery Can Save
Millions in the Event of a Breach
TINTON
FALLS, N.J., Sept. 10,
2024 /PRNewswire/ -- Commvault, a leading provider of
cyber resilience and data protection solutions for hybrid cloud
organizations, today released new critical insights from its 2024
Cyber Recovery Readiness Report. This global survey of 1,000
security and IT professionals across 11 countries, reveals
interesting behavior changes for organizations that have been
breached versus those that have not.
The Commvault survey, done in collaboration with GigaOm, shows
that organizations that have endured cyber incidents in the past
don't want to get burned again. Consequently, they often reassess
and invest in cyber resilience and recovery strategies in very
meaningful ways. According to the survey:
- Investments in cyber resilience increase: Organizations
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 organizations are nearly 2.5 times more
likely to prioritize understanding their data risk profiles, which
highlight data types and relative levels of risk.
- Cyber readiness testing is prioritized: Breached
organizations conduct more testing to find gaps in their cyber
preparedness plans. Twenty percent of organizations that haven't
been breached do not test their recovery plan at all, that number
drops to just 2% for organizations that have been breached.
The impact of these added investments and focus on cyber
resilience is significant. According to the survey, breached
organizations that have invested in comprehensive cyber recovery
plans recover 41% faster than their less-prepared counterparts. In
terms of specific recovery times, breached organizations 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," said Brian Brockway, Chief
Technology Officer at Commvault. "Our survey shows that the most
resilient organizations are those that continuously test and refine
their recovery strategies, learning from each incident to
strengthen their defenses. 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 organizations,
not just those that have been breached," said Chris Ray, Cybersecurity Analyst at GigaOm.
"Cyber threats 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."
In addition to these findings, Commvault and GigaOm were able to
pinpoint five key capabilities, also called resiliency markers,
that when deployed together, helped companies recover faster from
cyberattacks and experience fewer breaches compared to companies
that did not follow the same path. These five resiliency markers
emerged after data analysis teams combed through the same survey
results across a range of topics including: how often companies
were breached, what resilience technologies were (or were not)
deployed, and how rapidly businesses were able to recover data and
resume normal operations. Read more on the five resiliency markers
here.
More Information:
- Check out the full Cyber Recovery Readiness Report
- Join the Business Uninterrupted: Readiness Strategies from the
Trenches of a Breach webinar | September 18,
2024 at 1:00 pm ET
Methodology
Commvault in conjunction with GigaOm
conducted this inaugural study of 1,000 respondents across 11
countries in April 2024 to better
understand their views on cyber readiness and how prepared their
organizations are in the face of cyber threats. Respondents were
from companies earning at least $10
million in annual revenues, with the majority earning
$500 million or more. Thirty-five
percent of respondents were board-level or C-Suite executives, 48%
were senior-level management, and the remaining 17% were mid- or
junior-level management. The 11 countries included in the survey
are Australia, Canada, France, Germany, Italy, Japan,
Netherlands, Spain, Sweden, United
Kingdom, and United
States.
About Commvault
Commvault (NASDAQ: CVLT) is the gold
standard in cyber resilience, helping more than 100,000
organizations keep data safe and businesses resilient and moving
forward. Today, Commvault offers the only cyber resilience platform
that combines the best data security and rapid recovery at
enterprise scale across any workload, anywhere—at the lowest
TCO.
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SOURCE COMMVAULT