Containing Breach Costs with Zero Trust

Monday, March 21, 2022

The economic impact of protecting data cannot be measured solely with traditional financial metrics. The real impact is far more wide reaching, as detailed in a recent IBM report, “Security Cost of a Data Breach.”Sure, the bottom line always takes a hit when there’s a data breach. The IBM study reported that lost revenue due to system downtime accounts for the largest swath of costs related to a data breach, with an average total cost of $1.59 million.But other factors contribute to the economic damage including:

  • Losing customers resulting from breach-related disruption
  • Replacing customers lost to a breach fallout
  • Diminished reputation amplifying the effects of the first two factors

Breaches also generate large atypical operational costs, according to the report. For instance:

  • 29% of the $4.24-million average total cost of a security incident goes to detecting and tracking incursions, then escalating the response internally and externally with specialized services.
  • 27%, or $1.14 million per breach, goes to containment, eradication and disaster recovery processes.
  • About 6% of the average cost goes to notifying customers, partners and regulatory agencies.

How can you contain these costs? Implementing a zero-trust framework can certainly help. This approach offers the following benefits:

  • Logs and inspects all your network traffic
  • Limits and controls network access
  • Verifies and secures network resources

IBM researchers reported that “mature zero trust” cybersecurity practices saved organizations $1.76 million per breach, compared to companies without these measures.Want to “mature” your zero-trust strategy? We’re here to help. Just give us a call.