Rethinking Incident Response: How Organizations Can Avoid Budget Overruns And Delays
Security Boulevard, Wednesday, January 8th, 2025
Cyberattacks are more costly than ever. This year, the average price tag of a data breach skyrocketed to $4.88 million, a 10% jump from 2023 and the steepest increase since the pandemic.
Recent headline-grabbing breaches suggest these figures will only climb higher. While the immediate fallout from a breach, such as addressing compromised systems and responding to ransom demands, often garners the most attention, a less visible but equally significant cost is the process of notifying affected parties.
According to IBM's 2024 Cost of a Data Breach Report, inefficient post-breach response - including notification efforts - is among the top drivers of rising breach costs. Victim organizations need more effective tools and strategies to streamline incident response and mitigate financial fallout.