Data is everywhere, from our clocks, bulbs, home pods to things like our phones and laptops, the entire world today runs on data. Although this means that the world becomes more convenient to live in, it also means that there’s that much data that a hacker could steal. Apart from the damage, stolen data can do, a cyber attack also leaves the victims with a mountain of costs. 

According to a Ponemon study, an average data breach leaves a company with around $4 million to pay in costs. They incur costs like having to pay legal fees, a wrecked reputation, losing customers and having to deal with potential customers turning away to competitors because they don’t trust your organisation.  

This should put into perspective how important it is to have a strong security system. One that doesn’t just cover your physical offices and spaces but also covers your company’s data. It is up to the leaders of the company to ensure they have a proper information security governance framework in place, one that provides strategic direction, ensures objectives are achieved, and manages risks while monitoring the success or failure of an enterprise security program. Without this, your company will always be vulnerable to a cyberattack.

Best Practices For Information Security Governance 

Take a holistic approach

Data security is important, not only the data of the senior officers but the data of the entire company as a whole. It is important that you understand how a breach in any part of your organisation can lead to disastrous effects throughout the entire organisation. Have different security measures for different sections of the organisation that come together to protect the company as a whole. 

Increase awareness and training

Make sure that all of your employees are aware of the importance of cybersecurity, and that they take the steps to make sure that no one accidentally leads to a data breach. Since hackers are constantly evolving, there needs to be frequent training to ensure that there is no weak link in the entire organisation. 

Monitor and measure

With information security governance, you can’t exactly set a framework and leave it as is for long periods of time. There needs to be a constant monitoring system in place so you can measure the risks and be sure that you can update the framework as the needs of your organisation change, or so you can rule out the practices that may not be working very well and replace them with better ones. 

Foster open communication

The culture of your organisation should be one where any of your employees can open up and report to you or someone when they find that something isn’t quite right. If they feel like they will be heard, even if they accidentally did something like clicking on a phishing email, quick action can be taken before things get worse.

It is the only way you will truly build a system where everyone is working together towards the common goal of protecting the organisation’s data.

Promote agility and communication

The way things work online is far different than the way they work offline. You can’t sit around and wait for days or weeks to fix a data breach, even if you’re seconds late, you could lose all of your data. This is why it’s important that you have practices and protocols in place that you can apply immediately if you’re under an attack. 

It’s up to the leaders to be able to step in with a plan in hand, this can only be done if you’re constantly studying the risks and learning new strategies. Making sure that information security governance is at the forefront of your organisation could save you from an all out cyberattack, and in turn, save you millions of dollars in costs.