A robust information management system is an essential component of any business operation. It ensures compliance with laws and reduces the risk to a manageable level, as well as helps protect the organization’s and customer data. It also provides employees with clear policy documents, training and clear guidelines on how to recognize and combat cyber-attacks.
An ISMS can be designed for a variety of reasons, including to enhance cybersecurity, satisfy regulatory requirements or seek ISO 27001 certification. The process includes conducting an analysis of risk, determining the potential vulnerabilities, and selecting and implementing measures to reduce the risk. It also defines the duties and responsibilities of committees and owners for specific information security activities and processes. It develops and documents the policy documents and implements a program of continuous improvement.
The scope of an ISMS is determined by the information systems that a company deems most crucial. It also takes into consideration any applicable standards and regulations, such as HIPAA for healthcare institutions or PCI DSS for an ecommerce Virtual Data Room software providers platform. An ISMS includes procedures to detect and respond to attacks. For instance identifying the source and monitoring access to data to determine who has access to which information.
The process of setting up an ISMS requires buy-in from employees and stakeholders. It’s often best to start with a PDCA model that includes planning, doing, reviewing and acting. This allows the ISMS to evolve in response to evolving cybersecurity threats as well as regulations.