A well-functioning information management system is an essential element of any business operation. It ensures compliance with regulations, minimizes risk to acceptable levels and protects organizational and customer information. It also provides employees with detailed policy documentation, training and clear guidelines on how to recognize and deal with cyber-attacks.
An organization can develop an ISMS for different reasons, including to improve cybersecurity and compliance with regulatory requirements, or seek ISO 27001 certification. The process involves conducting an analysis of risks, identifying the possibility of vulnerabilities, and then selecting and implementing measures to minimize the risks. It also identifies the roles and responsibilities of committees and the owners of certain information security processes and activities. It creates policy documentation and records it, then implements an improvement plan.
The scope of an ISMS is dependent on the information systems that a company thinks are most important. It also takes into consideration any applicable standards or regulations such as HIPAA in the case of a healthcare institution and PCI DSS in the case of an e-commerce platform. An ISMS includes procedures to detect and respond to attacks. For example, identifying the source and monitoring data access in order to track who has access to which information.
The process of setting up an ISMS requires the support of employees and stakeholders. It is recommended to begin with a PDCA (plan do, create check and act) model. This enables the ISMS system to adjust to the latest cybersecurity threats and regulations.