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A strong information security management system is essential to any company’s business processes. It ensures compliance with the regulations, minimizes risk to acceptable levels as well as helps protect the organization’s and customer data. It also empowers employees by providing clear, detailed policy documents and training in order to detect and address cyber-related threats.
A company may develop an ISMS for many reasons, including to increase cybersecurity and meet regulatory requirements or seek ISO 27001 certification. The process involves conducting an assessment of risk, determining the potential impact of security vulnerabilities, and deciding and implementing safeguards to limit risk. It also identifies the duties and responsibilities of committees as well as owners of specific information security processes and activities. It develops policies and records it, then implements an improvement program.
The scope of an ISMS is determined by the information systems that a business determines to be the most crucial. It also takes into consideration any applicable regulations and standards for example, HIPAA for healthcare organizations or PCI DSS for an ecommerce platform. An ISMS typically includes methods for detecting and responding to attacks, for example, identifying the source of the attack and monitoring access to data to identify who is accessing which information.
It is essential that stakeholders and employees are involved in the creation of an ISMS. It’s usually best to start with a PDCA model that includes planning, doing and checking and acting. This allows the ISMS to adapt to evolving cybersecurity threats as well as regulations.