Benefits of Implementing an ISMS
Every asset in every organization must be protected and information is an asset which must be protected as well. During the evolution of human race the value of information is growing constantly. The higher the value of information the more effectively it must be protected. There are a lot of schemes and mechanisms for information protection. One of the most popular systems that helps organizations to establish information security is the ISMS defined by ISO 27000 standards. The benefits of implementing an ISMS in this case seem obvious.
The ISMS is a system which drives the management of Information, regulates the information flows and builds an environment for information protection. The ISMS is not a single document or even a single process, it is a set of well-organized processes and documents. All the benefits of implementing an ISMS derive from those well organized processes and documentation.
Well organized ISMS helps organizations to identify the assets subject to risks, evaluate and manage these risks in a proper manner, monitor the implemented controls. First of all management should define the scope of ISMS considering the type of the business and the mission of the company, the information assets and the technological infrastructure. The integral part of each ISMS is the Information Security Risk management. It can be either a process separated from the Organization’s overall risk management or integrated in it. The phases of risk management methodology of ISMS are similar to other standards: Risk Identification, Risk assessment and Risk treatment.
What are the benefits of implementing an ISMS?
Before implementing an ISMS every organization must realise the benefits of ISMS and its challenges.
By implementing ISMS the organizations can gain:
• A trust, confidence and credibility of its clients: The value of every company depends mainly on the level of its customers’ satisfaction. Everybody will trust more a well-organized and certified company than others.
• Greater awareness of its security: The established ISMS will show the organization where its security is and how it will emerge.
• Compliance with regulatory requirements: Establishing the ISMS, especially when following the requirements of security standards, organizations more likely become compliant to regulatory requirements, because the regulators itself follow these standards.
• Confidentiality, integrity and availability of assets: As the ISMS is a system mainly designed for the information security it regulates and helps to provide the confidentiality, integrity and availability of assets.
• Prevention of security breaches: Implementation of controls designed by ISMS helps organizations to identify the vulnerabilities and security threats and prevent the security breaches.
• Prevention of unauthorized access of critical information: The ISMS establishes the classification of information assets and authorization for accessing classified assets.
• Competitiveness: The established ISMS adds to the value of organization as comprehensive operational guidelines and procedures of information security management system prevent security breaches and subsequent waste of resources and loss of clients’ trust thus providing the organization with competitive advantage over competitors
• Management commitment to the information security: The ISMS makes the management pay more attention to the information security risks and issues.
• Public recognition of its security benchmark: Organizations can benchmark their achievement in ISMS and gain public recognition.