The constant evolution of cyber threats means businesses need to consider adopting information security risk management. As new technologies are emerging, so too are complex cybersecurity attacks that can compromise your business and cause huge headaches, both reputationally and financially. Data breaches, property theft, ransomware and vishing attacks are just a few of the extremely damaging attacks many businesses of all sizes are facing.

The elaborate nature of how cybercriminals operate calls for swift action. What your business needs is a robust solution that tackles all areas of information security effectively. ISO 27001 can help you manage information security risk, and in this blog post, we’ll explain exactly how to implement the framework and help your business stay ahead of the competition!

Why information security risk management is needed?

It’s important to understand what is meant by the term ‘information security risk management’. Consider your industry and the type of business you manage. The information security risks associated with cybersecurity in construction are likely to differ from those of a healthcare firm or educational institution. But, the underlying principles of managing risk for IT remain the same.

A responsible business owner should identify, assess and treat risks relating to information security. This involves the confidentiality, integrity and availability of your assets, and adopting risk management strategies based on the risk tolerance of your business. This doesn’t mean you should eliminate every single risk entirely, as this isn’t cost-effective or necessary. Rather, you should use information security risk management to make informed decisions on the best course of action that your business can withstand.