The Importance of Maintaining Information System Security

The Importance of Information System Security

There's a reason why some people continue to pay bills the old-fashioned way or avoid posting too much personal information on Facebook. Everything online is easily available and accessible. While the vast majority of online data is highly secure, there are still cybersecurity threats and hackers who look for easy targets.

In the business world, keeping customer and business data safe is critical to maintain a good reputation and avoid litigation. How can companies do that? This is where information system security can optimize risk management.

Across the United States, information systems security is a popular topic in the news. Data breaches are more common in large enterprises, but small businesses are also at risk. While maintaining information online is typically much safer than in file cabinets, it doesn't stop customers from worrying.

Organizations need to do everything possible to optimize technology security and enact a security program. With a set of best practices, customers can rest assured that their data is safe from breaches.
Read ahead for the top benefits of strong data security in the digital age.

1. Information System Security Prevents Theft

Even if a company hires security professionals to implement application security measures, data is always at risk. Throughout history, people have stolen and bartered information for personal gain. The only difference is that there is more hackable data than ever before. Each time someone swipes a card in a POS system or logs into a customer database, they exchange digital data.

Security controls are critical to mitigate theft. Big companies are particularly vulnerable because they have so much sensitive customer and business data. Information systems security measures protect all internal systems and bring awareness to risk areas. Security analysts may raise awareness of potential theft, optimize a current security program, and even investigate breaches. Both small and large businesses would be wise to invest in a qualified security officer for this reason.

Fast Facts on Cyber Security Threats:

• 47% of consumers have experienced some form of identity theft
  
• 37% of consumers experience application fraud, or falsely using one's identity to open a new account
  
• 76% of experts believe remote work would increase the time to identify and contain a data breach
  
• 98% of POS breaches in the hospitality industry are financially motivated
  

2. Information Systems Security Raises Awareness of Vulnerabilities

A qualified security specialist can drill down into specific vulnerabilities that increase the likelihood of a data breach. An organization inadvertently causes its breaches when it fails to invest in risk management measures. Risk factors include inefficient equipment, vulnerable networks, and disjoined security measures across various platforms.

The biggest vulnerability and cause of data breaches in the United States is human error. Poor employee training or leaving sensitive data accessible to unauthorized personnel is what causes human error. An organization must implement systems security training across the supply chain. An information security analyst may also implement specific controls to prevent unauthorized access of critical data.

3. Information Systems Security Provides a Centrally Managed Framework

Information security measures ensure all operational and customer data is secure and managed in one centralized location. A disjoined security apparatus leaves sensitive data more vulnerable to everything from malware to phishing. It's also easier to monitor any risks or areas of vulnerability if all information is in a centralized place. A security specialist can use a series of tools to monitor the performance of controls and ensure they are effective. Misconfigurations, or settings within a program that permits unintended behavior, are also more common in a non-centralized framework.

Types of Data Breaches:

• Ransomware - software that gains access to and locks down access to critical data
  
• Malware - a program or code that harmfully probes internal systems and networks
  
• Phishing Scams - hacker sends an email to the consumer, pretending it is from a reputable company. The goal is to access customer data
  
• Denial of Service - cyber attack where perpetrator tries to make a machine or system unavailable to users and prevent a service from being fulfilled
  

4. Information Systems Security Prevents Incalculable Damage

The consequences of a breach within information systems cause serious harm to businesses. It creates a domino effect that triggers a plethora of unintended consequences. It can ruin a company's reputation, expose financial and operational secrets, and impact plans.

While many small businesses think they are immune to data breaches, they are wrong. Because small businesses don't expect to be targeted by cybersecurity criminals, they tend not to implement as many controls. In fact, 43% of small organizations have zero cybersecurity defense plans. Lately, hackers have been exploiting this vulnerability more and more. Statistics show that 28% of breaches in 2019 included small businesses.

Furthermore, small businesses don't have the resources or name recognition to recover from a data breach. JP Morgan and Bank of America have both been breached by hackers, even though their information assurance measures were nearly infallible. They recovered, due to their resources and capital.

Small businesses aren't as lucky. One single breach can lead to bankruptcy, a ruined reputation, and litigation. This is why it's so critical that both large and small organizations incorporate security principles across the supply chain.

5. Information Systems Security Puts Customers at Ease

If an organization prioritizes incident response protocols and effective systems security, it puts customers at ease. Owners can use an outline of security principles to showcase how seriously they take cyber security threats. When customers can rest assured that their data is safe, they are more loyal to the company. They are also much less likely to place their sensitive data in the hands of the competition. Hiring an information security analyst or team of security specialists to enact sound controls will also provide a competitive edge. It will give a small or large business an aura of legitimacy, which will attract more customers through word of mouth.

Key Takeaways for Information System Security

In conclusion, here are the top benefits of information systems security -

• Information system security prevents data theft and the loss of financial assets.
• Information systems security raises awareness of vulnerabilities that result in breaches.
• Information systems security provides a centralized way to manage a security program.
• Information systems security prevents a damaged reputation, litigation, or bankruptcy. It also makes customers feel at ease, which provides a competitive advantage.