What is an Information Security Management System?

An information security management system (ISMS) is a collection of policies and processes for handling sensitive data in a business. By actively reducing the consequences of a security breach, an ISMS seeks to reduce risk and assure business continuity

An ISMS focuses on the ways employees behave and interact with each other and with technology. It may also be focused on a particular sort of information, like customer information, or it can be applied thoroughly and integrated into the company's culture

A specification for developing an ISMS is ISO 27001. It contains recommendations for documentation, internal audits, ongoing improvement, and mitigation plans but does not impose any particular measures

What is ISO 27001?

An information security management standard known as ISO/IEC 27001 lays out policies, procedures, and staff training for how firms should manage risks related to information security risks. The guidelines specify how an organization should protect its data from loss or unauthorized access, and how it can demonstrate its commitment to information security management through certification.

ISO 27001 covers a risk assessment process, organizational structure, information classification, access control mechanisms, physical and technical safeguards, information security policies, procedures, monitoring, and reporting standards, and so on.

Why is ISO 27001 Important?

The only regulation that outlines the requirements for an information security management system is ISO 27001.

ISO 27001 certification shows that an organization has taken steps to protect its information security and privacy. By implementing ISO 27001, the organization can demonstrate that it is serious about protecting its data and assets.

The benefits of ISO 27001

• Keep all forms of information safe, whether digital, hard copy or in the Cloud.
• Increase your organization's resistance to cyber threats.
• Only implement security controls that you need, to get the most from your budget.
• Continually adapt to changes in the environment and internal organizational dynamics.
• An ISMS integrates people, processes, and technology to guarantee that staff members are aware of risks and value security in their day-to-day operations.
• Certification validates your organization's dedication to data security and serves as a useful credential when seeking new business.

What are the 3 ISMS Security Objectives?

The 3 ISMS security objectives are:

• Confidentiality: The confidentiality of information is only granted to those who have been authorized to access it.
• Integrity: There is a high level of integrity with the information, as only authorized individuals are able to change it.
• Availability: The information must be available to authorized persons whenever they need it.

Why do we need ISMS?

• Compliance with Legal Requirements - The number of legal, regulatory and contractual requirements related to information security continues to grow, but the good news is that most of them can be solved by implementing ISO 27001.
• Achieve competitive advantage – If your company is certified, it may have an advantage over competitors who are not certified. Certifications can show that your company takes security seriously and is committed to protecting its customers' information.
• Lower costs - Since the major goal of ISO 27001 is to stop security problems before they happen, every occurrence, no matter how little, costs money. This will help your company save money by preventing them from happening. The best thing about ISO 27001 is that it is much less expensive than the benefits you'll get from it.

• Better Organisation - A better organisation can help companies reduce the time it takes to do things, as employees will know what needs to be done and when. ISO 27001 helps with this by encouraging companies to document their main processes.

How do you implement ISO 27001 controls?

• Technical controls - Information systems use technical controls to ensure that the data they process is accurate and reliable. Technical controls can be implemented in software, hardware, and firmware components.
• Organizational controls - In order to put organizational controls into place, it is necessary to specify the guidelines to be followed as well as the conduct that is expected of users of tools, software, and systems.
• Legal controls - The implementation of legal controls involves making sure that policies and expected conduct uphold and enforce the laws, rules, contracts, and other similar legal documents that the organization is required to comply with.
• Physical controls - The most common way to incorporate physical controls is to use tools or gadgets that physically interact with people and things.
• Human resource controls - To enable people to carry out their tasks in a secure manner, human resource controls are implemented by giving them the knowledge, education, skills, or experience they need.

Author

Sonali Thakur

Associate - Sales and Marketing

RiskPro India

(July 2022)