Taking Information Security Management to the Next Level
Rarely a day goes by without news of IT risks emerging, whether related to information security, cyber attacks, phishing or others.
These issues can be incredibly harmful to the organization. They can involve financial or data theft for example, leading to major regulatory, operational and reputational harm. In an ever more digital world, the damage that information security attacks, cyber and IT risks can have on a business are considerable.
The challenge for any organization is balancing the risk itself with the costs of managing it. Risk assessments are a valuable tool that can help construct a range of initiatives – technical, operational, contractual, for example – that allow a business can maintain its operational resilience in multiple, evolving, and escalating risk scenarios.
In our latest information security Customer Case Study, learn how Cutover, a UK-based customer that works with world-leading organizations in managing IT disaster recovery, cloud migration, and release by interconnecting teams and technology, leveraged Mitratech’s Alyne controls, risk assessments and reports to reduce manual work and achieve SOC 2 Type 1 certification.
Review and Enhance Your Information Security Policy
This actionable step helps to define what information security actually means within the business. It also defines the tolerances it has for security-related interruptions. Furthermore, your information security policy is very important because it lays down responsibilities within your team.
An infosec policy should cover a range of technical issues, such as defining the level of protection on a device, the use of two-factor authentication or VPNs, training, and education requirements, as well as issues covering data management and destruction.
The policy also needs to expand into third-party risk management, recognizing that a company’s vendors, suppliers and other third-parties can be a source of risk.
Policy documents should be living documents, meaning they should evolve as the business changes.
Information Security Management Systems (ISMS)
Organizations are increasingly implementing Information Security Management Systems (ISMS) designed to deliver increased efficiency, save time and effort. An Information Security Management System (ISMS) is, in essence, a framework of policies and procedures for systematically managing the sensitive information of an organization.
Next-generation GRC technology is a powerful partner in implementing an ISMS within an organization. Global security standards such as ISO 27001 and 27002, or the security standards of government regulations like SOX can be accessed and understood by line of business employees as they design and implement new business processes. Moreover, corporate standards can be updated swiftly as requirements change.
Key Benefits of Having an ISMS in Place
Cost Reduction
Having an ISMS in place can without a doubt help organizations save on costs by reducing the financial threat that data breaches represent, as well as ensuring compliance with applicable standards, laws and regulations.
Risk Management
An ISMS helps organizations easily identify risks and reduce cyber threats, as well as prevent financial losses and reputational damage.
Competitive Value
An ISMS can help organizations gain a competitive advantage by showcasing their commitment to information security. The ISO/IEC 27001:2013 certification, for example, remains one of the most trusted and widely recognized standards for Information Security Management across regions and industry sectors.
Mitratech has been ISO 27001 certified since 2017 and successfully passed its most recent audit, conducted in 2021, to maintain this certification.
Take a look at our White Paper – Achieving ISO 27001 Certification for a step-by-step guide into building an Information Security Management System (ISMS) and becoming ISO 27001 certified with the help of Mitratech’s Alyne GRC solution.
Furthermore, complement your reading by listening to The RegTech Report Podcast – Episode 11: Getting ISO 27001 Certified for answers to all key questions on the topic, like: How hard is it? Why is it important? Is it worth the hustle? The hosts also share crucial information and learnings useful to those thinking about embarking on this journey.
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