Time for an Information Security Management System

August 12, 2022

Do You Need To Implement a New Information Security Management System?

Data breaches soared to record highs in 2021, increasing 23% over the number of compromises in 2017, the year previously holding the record. Breach numbers reached 1,862, though the number of individuals targeted declined for the third year in a row primarily due to changes in how cybercriminals operate.

Businesses continue to be vulnerable to breaches as cybercriminal tactics continuously evolve, growing more complex and sophisticated. Companies often don’t realize they are at risk. Here are signs that you might need a new information security management system.

An automated and integrated information security management system can reduce your risk of a data breach. Here are three signs it's time for you to upgrade.

You May Need a New Information Security Management System if You Have Remote Employees

Remote work is not a new phenomenon, but more businesses and employees are discovering the benefits of a dispersed working environment. Approximately 59% of employees participating in jobs that can be done remotely perform their duties away from a central location most or all of the time.

If you have a dispersed workforce, your company is more at risk for data breaches and cyberattacks for the following reasons:

  • Employees use personal devices and computers to access company systems, including sensitive data.
  • Employees may not maintain or update security features.
  • Cybercriminals target inherent vulnerabilities in remote work environments.
  • Employees are not as careful in following security hygiene practices at home.

Cybercrimes often arrive in the form of email phishing and can have devastating financial repercussions. An example occurred in 2020 when cybercriminals sent out a fake Zoom invitation. A hedge-fund executive took the bait, costing the company more than $8 million and forcing its closure. An automated and integrated information security management system can help keep company data safe when you have a dispersed workforce.

Your Organization Is in a High-Risk Industry

In 2021, the healthcare industry experienced the highest number of data compromises, with 330 breaches, exposing 28,045,658 records. The financial sector was the second-most targeted industry, with 279 publicly disclosed breaches and 19,745,846 individual victims.

Both industries deal with a high level of sensitive information, providing cybercriminals leverage in ransomware attacks and access to a wealth of data for fraud and identity theft. 

Small companies often feel they are not at risk and do not have the budget for professional cybersecurity services. However, 60% of small businesses that become a cybercrime target don’t remain in business. You may benefit from an information security management system, no matter your company size.

You Want To Improve Security Efficiency Across Your Company

If your company utilizes multiple tools, each with its own security requirements, an automated, integrated, and centralized platform provides you with increased security efficiency. It can also help you stay on top of regulatory compliance as requirements change or your business grows.

You Can Improve Your Information Security Management System Today

If you’re ready for a new information security management system that integrates with the tools your company uses, automates security tasks, and ensures your company complies with regulations, Compyl has a solution for you. Our all-in-one information security and compliance platform eliminate silos, streamlining and automating security tasks across the entire organization. Our platform reduces the risk of human error and dispersed security measures. Request a demo today and discover the difference Compyl can make for your business.

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