Paris, November 24, 2022 - Veeam Software, the leader in Modern Data Protection reveals that only 23 percent of organizations report having fully unified cyber-attack preparedness, disaster recovery and business continuity strategies. This stat and other highlights are revealed as part of the Veeam Ransomware Trends Report 2022, which uncovers the impact of ransomware on companies’ IT environments, as well as their strategies for remediation and the data protection in use or being considered.
The report found that although these strategies are generally well integrated into the processes for preventing cyber-attacks, there remains a lack of coordination between the teams charged with ensuring proactive cybersecurity and those in charge of data backup and reactive remediation. With immutable backup being the last line of defence against ransomware, the report outlines a number of areas for improvement that French companies are encouraged to follow in their bid to thwart bad actors from launching successful ransomware attacks.
Invest in advanced technologies to prepare for potential attacks
The financial impact of the ransomware industry is valued at nearly $50 billion annually. To combat the impact of cyberattacks and maintain their operations, 95% of companies are turning to isolation techniques and immutable backup repositories including cloud and object storage, Backup as a Service (BaaS) and Disaster Recovery as a Service (DRaaS) solutions. They work to protect vital corporate data and mitigate attacks, and when coupled with cyber-attack preparedness and verifiable business continuity/disaster recovery strategies (BCDR), enable organizations to repel or limit damage and losses associated with a ransomware attack. They can be the difference between joining the 22% of EMEA organisations who claimed they could recover without paying a ransom, or not.
Improving team coordination and regular data backups: the keys to optimal protection
The key to enabling the 78% of cyber victims who paid a ransom to join the ranks of the 22% could be better alignment of the expertise provided by cybersecurity and BCDR Teams.
The Veeam Ransomware Trends Report 2022 points to some dissonance between these teams. When asked about their views on the strategic unity of prevention and remediation strategies across their businesses, 23% respondents claimed it was ‘completely unified’, and 58% that it was ‘mostly unified’. Whether this was viewed as good enough depended upon the respondent’s role. Those closer to prevention (security professionals) and remediation (backup administrators) saw a need for greater improvement than IT operations or senior executives did.
Fortunately, respondents from organisations’ incident response teams, with responsibility for overcoming cyberattacks, reported seeing the value of both strategies. They felt the top two components that protecting a business and its most critical data were: backup copies and ‘healthy’ data (37%), and backup frequency and verification (35%).
According to Patrick Rohrbasser, Regional Vice President Southern Europe & Africa at Veeam: "Ransomware has democratized data theft to the extent that today, it's no longer a question of if or when a company will fall victim to a ransomware attack, but rather how often. As a disaster that costs businesses nearly two million euros per incident, it is vital for business and IT leaders to work together to protect the critical data running across their systems, no matter what architecture, platform or workload they use. Modern forms of data attack need Modern Data Protection strategies that will deliver both resilience to data breaches, and reliable backups, so that companies can be confident that if the worst should happen, they can restore their data without having to pay a costly ransom."
About the Report
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About Veeam Software
Veeam is the leader in Modern Data Protection. The company provides backup, recovery and data management solutions through a single platform for Cloud, Virtual, Physical, SaaS and Kubernetes environments. Veeam customers are confident their apps and data are protected from ransomware, disaster and harmful actors and always available with the most simple, flexible, reliable and powerful platform in the industry. Veeam protects 450,000 customers worldwide, including 81% of the Fortune 500 and 72% of the Global 2,000. Headquartered in Columbus, Ohio, with offices in more than 30 countries, Veeam’s global ecosystem includes 35,000+ technology partners, resellers and service providers, and alliance partners. To learn more, visit https://www.veeam.com or follow Veeam on LinkedIn @veeam-software and Twitter @veeam.