For many businesses or organisations today, protecting valuable information from risk will be a growing priority. If you want to remain competitive, profitable and trusted by your customers it’s a concern that needs to be taken seriously.
Information Risk Management is the solution to managing your organisation’s information risks. It’s the process of identifying, understanding and managing the risks to your information within the context of your business needs. Robust Information Risk Management is an opportunity for the business and a positive challenge for the management team.
Here are seven good reasons why a robust Information Risk Management approach makes sound business sense.
- Robust Information Risk Management brings competitive advantage through an increase in trust that will improve the company’s reputation for better sales results.
- Effective Information Risk Management lowers the chances of a damaging information security incident. It will help you understand your risks and what you need to do to avoid a breach.
- Mastering Risk Management gives you the visibility and confidence to make better business decisions – decisions based on real risks, not rumour or scaremongering.
- Information Risk Management can save money through more efficient controls, more effective architectures and appropriate levels of protection.
- Information Risk Management includes business continuity, keeping the business going in unforeseen circumstances or emergencies.
- Information Risk Management gives you full visibility. Knowing where your information is will enable you to put your hands on the right details fast, faced with any request for information (e.g. HR/legal)
- Understanding and managing your risks brings peace of mind – you can be confident that you have taken due care and diligently exercised risk management in accordance with your business requirements.
Find out more about effective Information Risk Management in The Board’s Guide to Information Risk.
Article by Dave James, MD of Ascentor