Over the past 20 years, technology has changed the way we communicate, conduct business, and live. It is rare to walk down a city street and not see a person using some type of technology. It has become an integral and indispensable part of our everyday lives.
The important role technology plays in business cannot be understated. Businesses worldwide rely on digital interconnectivity for growth. Organizations rely on the internet, video conferencing, accounting, and project management apps to stay connected. Technology is the key to efficiency for most businesses, helping to streamline processes, maintain data flow, and reduce operational expenses.
This reliance on technology, however, does not come without risks. Companies that rely on digital interconnectivity are targets for cybercriminals. These threat actors have found ways to disrupt the digital environment and wreak havoc on businesses across the world.
For example, companies that rely on interconnected digital systems for their supply chains are susceptible if those digital systems are compromised. A cyber event affecting any part of such a network can cause widespread disruption, delaying product deliveries and leading to penalties, lost contracts, or damage to business relationships and reputations. Companies need to understand that the consequences of a cyber event can be far-reaching, impacting not just their financial health, but their long-term viability and competitiveness.
This Cyber Business Interruption (BI) Playbook is intended to help companies navigate the unique complexities they face in preparing for cyber business interruption events. The Cyber BI Playbook provides insights on how to take a proactive approach to business interruption, which includes risk assessment, insurance coverage, incident response and recovery planning.
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