AUSTIN, Texas, March 30, 2016 /PRNewswire/ -- AllClear ID, the leader in the Customer Security market, today announced the launch of AllClear Reserved Response, a program that has already attracted more than 50 of the nation's largest retail, financial services and healthcare companies. AllClear Reserved Response is the first and only program that ensures a successful customer response after a cyberattack by pairing expert planning with guaranteed response capacity.
Initial findings from an upcoming AllClear ID study show that once a data breach hits three million records, it is 43 percent more likely to become a trending story in the media and affected brands' stock prices drop 6.4 percent on average.
"Cyberattacks are a very real part of doing business today and we've repeatedly seen the devastating impacts that poorly managed breach responses have on a company. CEOs get fired, customer loyalty and retention tank, and companies experience significant financial losses," said Bo Holland, Founder and CEO of AllClear ID. "Reserving the response capacity you need in advance is the most effective way to mitigate the response risk and restore customer confidence after a breach."
The real test of an incident response plan comes with a breach: an unpredictable event with an immense and relentless demand on resources. Businesses that are not prepared with both a detailed plan and the capacity to execute flawlessly face serious and unpredictable challenges, with high visibility and short timelines. Reported in the upcoming study, the two most commonly cited challenges during a breach response are people related: internal politics (66%) and "too many cooks in the kitchen" (60%).
These fundamental issues are exactly the kinds of risks that can be mitigated through the Reserved Response program. All of these factors are driving great companies to make customer-facing breach response capacity and preparation a priority.
"Planning is not enough. If you don't have the operational capacity to communicate to all of your customers and resolve their problems during an emergency, you will fail," Holland said. "It's the Titanic problem – the captain had an evacuation plan, but he was caught short on lifeboats."
ABOUT ALLCLEAR ID AllClear ID is the leader in Customer Security, providing data breach response services to businesses that aim to protect their greatest asset: customers. As an industry leader and trusted partner with over 10 years of specialized experience in data breach response, AllClear ID has helped thousands of businesses prepare for, respond to, and recover from data breaches, including successfully managing three of the four largest and most complex breach responses in history. The award-winning AllClear ID team is recognized for its expertise, customer service, and innovative solutions. Learn more: allclearid.com.