The Consequences Of Poor Information Security Management – Is It Worth It?

In a world where digital and physical intrusion is all too common, information security management (ISM) is crucial to safeguarding your assets and data. Yet it’s something many businesses overlook. Putting it off may save you time and money in the short term, but eventually, you’ll suffer the consequences.

With a rapidly evolving cyber-threat landscape and increasingly complex theft tactics, it’s never been more important to protect your information. So, if you can’t proclaim that your company has taken every possible step to meet security requirements, you’re taking a big risk.

To help you discover what’s at stake, we’ve highlighted how poor ISM can negatively affect your organisation. Read on to learn more.

Your business will face penalties

While safeguarding information and personal data can be beneficial to your business, that’s not the main reason companies should meet security requirements. Being compliant with GDPR, and other information management procedures, is actually a legal and regulatory obligation. 

Although these measures vary depending on the context, ultimately, they ensure you demonstrate adequate risk assessment and mitigation. So, whether you’ve fallen foul of a cyber attack, or been the victim of theft due to poorly secured premises, failing to follow the regulations could leave you paying the price – literally.

Clients and customers may lose trust

Should the worst happen and your clients’ or customers’ sensitive data be targeted, you face more than a fine – you also risk losing their trust.  

If word gets out that your organisation isn’t following the recommended protocols, your customers will become anxious about the security of their information. They could even question your ethics, and assume you don’t value their data enough to protect it.

While you can’t predict when a threat to your assets might occur, you can prepare your business with effective ISM protocols. So, if clients and customers feel you’re not equipped to handle their data, they’ll start to doubt your credibility. 

The brand’s image could be damaged

Keeping current clients on side is only half the battle. Possessing poor ISM, or suffering the effects of a data leak, won’t just cost you their business, it could tarnish your brand’s reputation and affect future deals too. 

Whether this stems from word of mouth, press releases, or social media, any publicity highlighting a security oversight may cause potential clients to rethink working with your company. They could even approach your competitors.

You might lose out financially

The knock-on effects of a breach are costly, in every sense of the word. Depending on the situation, you could lose money from hacker activity or from replacing stolen equipment and needing to improve physical security measures. More commonly, however, is the expensive bill from regulatory penalties, lack of client trust, and stunted future business.

Are you prepared to pay a greater price than the cost of investing in ISM? If not, ISO 27001 certification is a great way to ensure your business takes the necessary action, with proof of your compliance stamped onto your efforts.

Secure ISO 27001 certification with Centre for Assessment

As well as meeting legal requirements and improving security, ISO 27001 can help you win business, develop your credibility, and reassure your customers – ultimately giving you a competitive edge.

Centre for Assessment is a UKAS-accredited body with years of experience providing ISO 27001 certification across multiple industries. Our experts carry out audits to meet the context of your organisation, so you’re prepared to face any physical or digital threats.

To learn more about the benefits of securing ISO 27001 certification with us, get in touch with our team today.

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