Information security strategies help businesses stay protected from the unexpected. A well-planned information security strategy plays a critical role in safeguarding a business—from establishing the groundwork for how organizations will protect infrastructure, people, processes, and technologies to improving incident response, resilience to cyber attacks, and data security.
Considering that the average data breach cost in the United States is $9.44 million and U.S. businesses are the most targeted sector by data breaches, it goes without saying that an information security strategy can be the difference between staying safe or paying millions of dollars in damages.
What You Need to Create an Information Security Strategy
First and foremost, it's important to understand that information security strategy plans are not one-size-fits-all. They should be tailored to fit the specific needs of a business, taking into account factors such as industry, size, and infrastructure. When creating an information security strategy, consider the following:
- Prioritized assets
- Business objectives
- Current risks and threats
- Leadership support and buy-in
- Regulatory compliance requirements
How do you Build an Information Security Strategy Plan?
Strategic planning is fundamental to creating a security framework that will stand well into the future. The process can vary depending on the organization but generally includes conducting risk assessments, reaching out to chief information security officers, developing policies and procedures, implementing technical controls, creating incident response plans, and routinely monitoring and updating the cybersecurity strategy. It's important to involve all necessary stakeholders in the creation of the information security programs, including leadership, IT personnel, marketing, human resources, and legal teams.
What is an Information Security Strategy Plan?
An information security strategy plan is a comprehensive document that outlines an organization's approach to protecting its sensitive data and systems. It includes the steps that will be taken to prevent, detect, respond to, and recover from cyber attacks and other threats. When confronted with a security incident, organizations need to remain agile to maintain confidentiality integrity and to stay on track with business goals. To achieve this, organizations need an information security strategy that's tailored to their specific needs. For well-encompassing information security strategies, following a framework is advisable. For instance, a strong information security strategy plan typically includes the following elements:
- Risk management
- Incident response
- Technical controls
- Training and education
- Policies and procedures
- Regular review and updates
- Business continuity planning
- Leadership support and commitment
Pros of having an Information Security Strategy
Information security strategies provide companies with a step-by-step framework and improved business continuity for increased uptime, improved protection, and more. In addition to improving the peace of mind for business owners, additional benefits of an information security strategy plan include:
- Better risk management
- Enhanced data protection
- Improved incident response capabilities
- Enhanced compliance with regulatory requirements
- Stronger protection against cyber attacks and data breaches
- Increased trust from customers, partners, suppliers, investors, etc.
Why Do Businesses Need an Information Security Strategy Plan?
In today's digital world, where security issues are becoming increasingly common and more sophisticated, it's crucial for businesses to prioritize information security. Without a well-developed information security strategy plan in place, businesses run the risk of experiencing significant financial loss, damage to reputation, loss of customer trust, and legal consequences. An information security strategy can help a business protect sensitive data, prevent potential cyber attacks or breaches, demonstrate a commitment to protecting data, and comply with regulatory requirements. It can also improve incident response capabilities, enhance risk management, and increase trust from customers and other stakeholders. Ultimately, having an information security strategy plan in place is a necessary step for businesses to survive and thrive in today's fast-paced society.
Create an Ironclad Information Security Strategy
Building an information security strategy is crucial for businesses to protect sensitive data, prevent potential attacks, and enhance overall security. While it may require some effort and resources, the benefits far outweigh any potential risks. Remember:
- An information security strategic plan outlines an organization's approach to protecting sensitive data and systems
- It can prevent financial loss, damage to reputation, loss of customer trust, and legal consequences
- The benefits of having a well-developed information security strategy plan far outweigh any potential drawbacks
- Expert assistance is available to help create a customized plan for your business
Need help with creating your own information security strategy plan? Contact Exigent Technologies today about our managed cybersecurity services for help getting started.
