Does Your Organization Have an ISMS?
IBM reports that the typical cost of a data breach is between $3.86 and $4.24 million. It’s getting more and more challenging to defend against the constant threat of cyberattacks.
It’s nearly impossible to do without a sound cybersecurity strategy. This helps IT staff uncover risks within the organization and address them as they evolve.
This keeps the organization secure, but it’s difficult to do. IT staff are stretched and tend to react to issues as they appear.
One approach to take is to implement ISMS. If you want to improve data security in your organization, keep reading to learn what ISMS is and how to implement it.
What Is ISMS?
ISMS is an information security management system. This is a framework that gives IT staff and company managers a system to audit, monitor, improve, and review information security.
There is one thing to be aware of. Information security is different from IT security. These two terms get used interchangeably, but there are significant differences between them.
IT security addresses the technology used within the organization. This might have to do with updating servers or device management.
Information security refers to the policies and strategies used to protect the entire organization’s information. This includes written information like emails.
Information security deals with access and authorizations and other organizational issues. It’s an organization-wide approach, rather than a technology-only method.
IT security and information security aren’t two separate things. They work together to form a comprehensive security approach.
The international standard for creating ISMS is ISO 27001. Using this standard helps your organization comply with data security regulations such as the General Data Protection Regulation (GDPR), NIS Directive, and the German IT Security Act.
The ISO 27001 standard has three main priorities. The first is confidentiality. This ensures that sensitive information only gets viewed by those authorized to access it.
Integrity is the second. The integrity of information must be maintained by preventing manipulation. An example of a violation of integrity is when a hacker changes database information.
The final priority is availability. The systems and information have to be available for authorized users at all times. A denial of service attack is one way that hackers disrupt availability.
Key Benefits of ISMS
Is it worth it to use ISMS in your organization? Absolutely.
Just by using following the ISO 27001 standard of ISMS, your organization meets strict compliance standards. These are set by governments and regulatory agencies.
Companies that don’t comply get hit with massive fines. Companies like H&M received multimillion-dollar fines for not complying with GDPR.
You can create a competitive advantage just by using ISMS. It creates trust with third-party suppliers and customers.
It translates into better brand loyalty because people trust your business with their information.
The main benefit of ISMS is protection. You reduce the level of risks to your organization by protecting critical data like intellectual property.
In the end, companies that use ISMS operate more efficiently. Companies have access to the information they need, and they’re able to strategize resource planning.
This lowers operations expenses and makes the company profitable.
Steps to Implement ISMS
Now that you see the multiple benefits of an information security management system, you’ll want to know how to implement ISMS.
It starts at the top of the organization. Since ISMS impacts the entire organization, you need to get approval from the company’s management team.
The management team is responsible for data security and authorizations. They need to get involved in the implementation process.
Management needs to approve the budget to implement ISMS and define roles and responsibilities within the organization.
There should be a point person to serve as the information security manager. This person is the project manager of implementation and contact for information security issues.
Scope and Objectives
The information security manager and top managers should define the role ISMS plays in the company.
They need to outline the scope and limitations of ISMS. There should be a clear set of objectives. This will help everyone measure the success of ISMS.
Conduct an Audit
The role of an audit has two purposes. The first is to identify the assets in the company that needs protection. The assets range from hardware to intellectual property.
The second purpose of the audit is to uncover risks. This is where you can use the ISO 27001 audit process.
You can refer to the goals of ISO 27001 to prioritize the risks. For instance, what would happen if there’s a breach of data confidentiality?
Asking this type of question helps you see how severe a risk is. You can then make it a priority ahead of other risks.
Once you have your list of priorities, implement changes. Test your changes before full implementation to make sure they work.
Monitor the changes regularly to ensure a smooth transition.
Audit and Improve
Cyberthreats change on a daily basis. Going through the implementation process once isn’t enough for full data privacy compliance.
It’s important to continuously monitor, audit, and improve ISMS. This gives your company the flexibility it needs to adapt and evolve to changing circumstances quickly.
Upgrade Data Security Standards With ISMS
An information security management system is one of the best and most complete methods to improve data security.
Your business, customers, and vendors rely on you to maintain data privacy. Regulators look to make sure you comply with their standards.
Using ISMS in conjunction with IT security helps your business use technology resources efficiently. You’ll build trust, your brand, and profits.
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