The Economic Benefits Of Information Security

The ISO 27001 contains a raft of measures aimed at ensuring organizational security from IT related risks.


What the standard is about

The standard contains a set of specifications through which a company or organization can demonstrate that it is certified against IT related risks. An Information Security Management System (ISMS) is an important consideration for any forward looking company. The level of risk to company or organizational data must be analyzed and catered for.  


The ISMS standard provides a framework from which companies can approach organizational data security. The standard outlines the requirements for establishing and implementing a coherent data security system. It also involves monitoring and review of established security policies on an ongoing basis to meet new challenges.


Economic benefits

The economic benefits of organizational data security are numerous. Unfortunately, most companies and organizations remain hesitant about investing in such robust systems. Whereas the cost cannot be tangibly figured out initially, it becomes apparent over time. The risks to information security are numerous, from hackers to theft within the organization.

Companies in high risk sectors are especially vulnerable to emerging risks. Think about it, what are the potential economic downsides of crucial data loss to your company? For one, the company will most likely spend a considerable amount of money in damage control. You may also invest in more robust systems to prevent against future loss. But why wait?


Who needs the ISMS standard and why?

The ISMS standard is appropriate for all companies and organizations with data to secure.  However, companies and organizations in high risk sectors especially require this standard. High risk sectors include finance, rescue or emergency services, transport, government etc. High risk sector organizations refers to institutions whose data loss can be damaging. Generally though, the standard covers all sorts of organizations. 

Putting organizational data or information under secure control is important for sustainable growth.  It is an inevitable component for organizations keen on securing data from theft or loss. Data can be information written on paper, printed or saved in diskettes or other electronic devices.


The ISMS course of action

The ISMS standard incorporates a number of Plan-Do-Check-Act (PDCA) approaches to information security management. One of the principles of the PDCA approach is the understanding that data security is a continuous process.

Information security is not a one-off event, but rather a continuing process. As such, companies and organizations have to review and update their systems to meet emerging challenges. That involves regular reviews of existing mechanisms, checking for flaws, failures and improving where necessary.

The standard can be used to develop security requirements and objectives within organizations. It can also come in handy in the management of risks cost effectively. The standard can also be used as compliance with industry laws and regulations. 

This is essential for competitive advantage within an industry. Organizations may also choose to use the standard as a mechanism from which to develop and implement security management controls in line with their specific objectives. That means companies can choose specific data security controls useful for their specific requirements.


The standard provides a range of policies from which appropriate mechanisms can be adopted depending on organizational needs.


Author:

Benjamin has been associated with the technology industry for over twenty years, specializing in Internet security. Benjamin has also recently provided some consultancy to Bough SEO to improve their data solutions.



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