What is an ISMS?
ISMS or Information Security Management System is a framework of policies and procedures for systematically managing an organization’s privacy and security over its sensitive data. The objective of ISMS is to minimize the risk of a security breach to ensure business continuity as well as safeguard the private information of clients and customers.
A few facets of ISMS include addressing employee behavior and processes, as well as data and technology. The implementation of ISMS can be targeted, for example, only for a certain type of data. It can also be implemented in a comprehensive way becoming a part of the company’s technology ecosystem. Google, for example, is a company that takes data security very seriously. It is ingrained into the company culture for new employees as part of their orientation program.
The ISO 27001 is the international certification and specification for creating ISMS. While it does not mandate specific actions, it, however, does include suggestions for documentation, internal audits, continual improvement, and corrective and preventive action. There are many immediate benefits with implementation of ISMS for your organization. Below are nine reasons why you should consider implementing one:
7 reasons to implement ISMS:
Here are some of the key benefits of implementing an Information Security Management System:
- Information Security – In the information age, corporations and organizations must protect all forms of data whether it is digital or traditional paper-based information. Protecting the intellectual property and personal data of your clients and customers is extremely important and could mean the survival of your company. Data leaks could cost companies and shareholders in the millions of dollars. Good ISMS will ensure proper information security.
- Prevent Cyber Attacks – While it may not eliminate cyber attacks, proper implementation of ISMS will at least increase resilience to cyber breaches. We live in a world where unethical hackers are constantly looking for easy targets. Companies that host cloud services and or provide web-based solutions are generally the victims of continuous DDOS attacks. The ISO 27001 provides enough documentation to safeguard against the most basic of these attacks.
- A Centrally Managed Framework – While we are moving towards a world where distributed frameworks seem to have become the new norm, there are definite benefits to having a centrally managed framework to keep your organization’s information safe. A centrally managed framework is easier to take care of, provides a framework for keeping your organization’s information safe and managing it all in one place. Centralized frameworks allow for quicker assessment of security gaps and faster implementation of risk control.
- Efficient Policies and Procedures – ISMS will define procedures, policies and processes that offer organization-wide protection from technology-based risks and common threats. Generally, due to inefficiencies in processes or workflow failures, breaches tend to happen. An organization that has a strong grasp of security policies will be able to prevent, predict and mitigate damage.
- Up-to-date Security – The digital world is constantly evolving, with hackers finding vulnerabilities in software continuously. The need to patch and prevent these vulnerabilities is of utmost importance. ISMS will help respond to evolving security threats both in the outer environment and within the organization.
- Reduce costs – Data breaches and leaks can cost a company in the millions. Reduces costs associated with information security.
- Protects Data – ISMS uses a set of policies, procedures and technical or physical controls to protect your data. The confidentiality, integrity and availability of data need to be safeguarded in large and small organizations.