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The Breach Environment - How Much Do They Cost?

Late in 2016 IBM's Ponemon Institute published a massive report on the breach environment. The Ponemon Institute interviewed 1,500 employees from 383 organizations spanning 16 industries and 12 countries worldwide, the results were staggering. First, 67% of all organizations interviewed had experienced some form of a breach over the last year. Second, since 2013, the overall cost of a breach has risen by almost 30% to a total of around $4 million. Averaged out, that's about $158 per record breached but it costs more for companies in the healthcare industry at $355 per record. Finally, the costs associated with a breach have done nothing but continue to climb and is projected to reach around $2.1 trillion globally by 2019 according to Juniper Research.

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What will happen if your organization finds itself in that unlucky 67% of companies that were breached this year? Can you afford it? If your company is breached it is likely that the executives and management within your company would have a different reaction...

  • Compliance Officer - "How do I respond?"
  • Security Officer - "How did it happen and how can I stop this from happening again?"
  • Chief Financial Officer - "How much is this going to cost us?"

If you've been the victim of a breach in the past, you understand how important it is to ensure that both you and your company make efforts towards compliance. No matter what industry or government regulation you fall into, staying compliant should be a top priority within your organization. If appointing a security officer saves an average of $7.00 per record, imagine how much more you could save by granting them the power to manage their policies through a secure SaaS-based solution.

K2 Compliance™ can ensure that all necessary actions are undertaken and enforce and control processes. Tracking and monitoring of processes and approval checkpoints guarantee that assigned actions and information are not overlooked, missing or incorrect. Bring your policies alive with K2 Compliance™.

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Tagged: ComplianceBreachIBM Ponemon InstituteIBMSaaS-Based Solution