4 Proven Ways to Mitigate the Costs of a Data Breach

4 Proven Ways to Mitigate the Costs of a Data Breach

In today’s environment, data breaches are becoming increasingly difficult to avoid, with approximately 83% of organizations experiencing more than one breach. These breaches can cost businesses in many ways, including the immediate cost of remediation, lost productivity, lost business, lost customer trust, and extensive legal costs. According to IBM Security’s report, the global cost of a data breach climbed to $4.35 million in 2022, up 2.6% from last year. Fortunately, there are proven tactics businesses can take to mitigate the costs of a cyberattack. For instance, using a hybrid cloud approach and adopting a zero trust security approach can significantly reduce data breach costs. In addition, working with a trusted IT provider to create a cybersecurity roadmap and implementing best practices like multi-factor authentication can further improve your cyber resilience.