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Information Security Management System (ISMS)
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Unlike IT security, information security refers not only to the security of the technology used, but also to organizational issues such as access authorizations and responsibilities. Accordingly, information security is not the sole responsibility of the IT department, but must be implemented in all areas of the company, starting with management.
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With an ISMS, information security can be systematically implemented throughout the entire company and ensure that all required security standards are met. This holistic, preventive approach offers several advantages:
Protection of sensitive information
An ISMS ensures that proprietary information assets (e.g., intellectual property, personnel data, or financial data) as well as data entrusted by customers or third parties are adequately protected against any and all threats.
Maintaining business continuity
By using an ISMS to make information security an integral part of their business processes, companies can continuously increase their level of security and mitigate information security risks. In this way, they counteract the risk of security incidents disrupting business continuity.
Meeting compliance requirements
Strict compliance requirements apply, particularly in highly regulated sectors such as finance or critical infrastructure. Violations of legal regulations and contractual agreements can result in heavy fines. With an ISMS, companies ensure that they meet all regulatory and contractual requirements, which also gives them more operational and legal certainty.
Verifiability of information security
By certifying their ISMS, companies are able to verify to third parties that sensitive information is handled securely. This contributes to a better external image and to building trust, which in turn means a competitive advantage.
Improved cost-effectiveness and cost reduction
The structured coordination and risk-oriented planning of measures in an ISMS helps to set priorities, use resources efficiently, and make investments in the right places. After initial additional costs, overheads can thus be reduced in the long term.
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The efficient and effective implementation of an ISMS is a very complex process. The following steps should be taken into account:
Define the scope of services
The first step is to clarify what the ISMS is supposed to do in the first place. To do this, company management must clearly define the areas of application, objectives, and limits of the ISMS.
Identify assets
What assets should be protected by the ISMS? They can be information, software, services, and physical assets such as computers, but also the qualifications, skills, and experience of employees as well as other intangible assets such as reputation and standing. The main objective here is to identify business-critical assets on which the company’s survival depends.
Identify and assess risks
For every asset worth protecting, potential risks must be identified and classified based on legal requirements or compliance guidelines. Companies should ask themselves, for example, what impacts each risk would have if confidentiality, integrity, and availability were breached, or what the probabilities of the risks occurring are. In the end, they arrive at an assessment of which risks are acceptable, due to the expected amount of harm caused, for instance, and which must be addressed at all costs.
Define measures
Based on the previous risk assessment, suitable technical and organizational measures for risk mitigation or avoidance must then be selected and implemented. This also includes defining clear competencies and responsibilities.
Check effectiveness
The measures adopted and implemented must be continuously monitored and regularly checked for effectiveness, for example, by audits.
Make improvements
If the review of the measures introduced reveals deficiencies or new risks have been identified, the ISMS process must be run through again from the beginning. In this way, the ISMS can be continuously adapted to changing conditions or requirements, continuously improving information security in the company.
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