The EFPR Group of Companies

For over 60 years, our knowledgeable and experienced team of CPAs and business consultants have been serving individuals and businesses in Western New York and around the nation.

The Importance of Cyber Security, Disaster Recovery and Business Continuity in an Ever Changing World

by Michael Redmond  |  EFPR Group’s IT and GRC Consulting and Audit 

In order to prosper in today’s business marketplace, Cyber Security, Disaster Recovery planning and Business Continuity must stay top of mind for business leaders. One of an organization’s objectives is to take strategic steps positioning itself in the best position to prosper in a very competitive marketplace. By not focusing enough resources on Cyber Security, Disaster Recovery or Business Continuity planning, an organization leaves itself vulnerable. Its existence could be threatened by any one of these significant factors.

Cyber Security Matters

In 2017, we have seen more and more creativity in Cyber Attacks and breaches. One thing is for sure, the world still appears in the early days, with every passing year, the Cyber Attacks get more creative and complex. Every year, another major firm gets hit, add HBO to the latest cyber hit-list that already includes Sony. If it seems like Cyber Security attacks are happening all the time, that’s because they’re becoming more prevalent. The number of Cyber Crimes that occur is increasing at a rapid rate involving both hardware and software. Some of the Incidents involve financial crimes, such as online fraud and phishing schemes.

Disaster Recovery

Since the forces that govern the business marketplace have shifted considerably in the past decade, the importance of Disaster Recovery cannot be understated or underestimated accordingly. Disaster Recovery is an integral part of overall risk management for organizations small and large alike. It’s no longer a case of “if it will happen,” more like “when it happens.” Unfortunately, that is the mindset that business leaders need to accept to fully grasp the realities of the situation. In the event of a disaster, the continued operations of an organization depends on the ability to replicate IT systems and data in quick time to mitigate loss and disruption.

Business Continuity Planning

The importance of Business Continuity Planning is something that almost every organization has been forced to deal with due to not just recent events, but doing business in the new age altogether. The ability of an enterprise to recover from disaster is directly related to the degree of Business Continuity Planning (BCP) that has taken place before the disaster. Crucial keyword is “before.” With an organization’s reputation on the line, it’s necessary to allocate sufficient resources to Business Continuity in the case of a disaster.

It’s a new business world; things change, adapt and evolve at the speed of light. Organizations need to take the necessary steps to mitigate risk and loss due to Cyber Security threats. Furthermore, a Disaster Recovery plan needs to be firmly in place as part of an overall Business Continuity Strategy. Even when plans are put in place, testing of Contingency Plans also need to follow suit. All strategic planning must stay moving with rigorous testing and improving the plan as you go along patching up all points of vulnerability.

For more information on cyber security, disaster recovery and business continuity planning, please contact us today!

For more information call