Statistically, “Absolutely.” But, don’t Let the Numbers Scare You.
With the right risk management and risk mitigation, you can sleep well at night (while we stay up and mind the store). Don’t feel bad if your security isn’t top-notch, but you should do something about it. Actually, you should consider letting us do something about it (and contact us today).
Only 17% of all businesses have adopted the US National Institute of Standards and Technology Cybersecurity Framework for data security: Identify, Protect, Detect, Respond, Recover. It’s just one of many the standards we use to keep our clients’ data and networks safe and secure. We’ve seen it all and know that no two businesses are alike. That’s why we create and implement customized plans to prepare you for everything.
For some businesses, security breaches and data breaches mean the potential for downtime and the loss of critical data that could jeopardize their ability to remain profitable. In fact, according to Gartner estimates, only 35% of SMBs have disaster recovery plans, putting them at even greater risk of recovering from data loss. And once their data is lost, so is their business. The right risk management program includes an audit of their IT infrastructure and network security followed by a comprehensive disaster recovery and business continuity plan to ensure the survival of the business.
Other businesses have an additional burden to bear. Data security takes on increased liability and compliance issues when the data you’re protecting isn’t your own. For businesses in select industries (legal, healthcare, financial services), their information technology system has to maintain a higher and highly regulated security standard with strict compliance standards. The right IT compliance and information security plan protects your customers’ personal data and protects you from hefty fines associated with failure to maintain compliance regulations and compliance requirements.
Industry specific compliance and regulatory requirements
Regulatory compliance has become a full-time worry for many CIOs, Chief Risk Officers, Compliance Officers, and IT Managers (and for good reason). Compliance risk and compliance management is a crucial element of the long-term health of their business. The cost to do business in these industries has increased, but by outsourcing your IT Compliance and IT risk to a professional can be the most effective (and cost-effective) solution. We can help make sure your compliance program and security controls meet or exceeds your industry standards. Non-compliance simply isn’t an option.
Sarbanes-Oxley Act (SOX)
Regardless of whether you call it Sarbanes-Oxley, SOX, or even the Oxley act it all means the same thing; the highest level of security auditing and security compliance required by law to protect the public from errors committed by financial institutions.
Payment Card Industry Data Security Standard (PCI DSS)
While the exponential increase in e-commerce is a factor in the increased importance of credit card security, any company that stores credit card information from any customer is mandated by the credit card companies to maintain a specific level of information security with the intention of reducing credit card fraud.
The Health Insurance Portability and Accountability Act (HIPAA)
Since 1996, HIPAA compliance has played a key role in the IT infrastructure of every business associated with the healthcare industry. It has become critical to safeguard patient data by enforcing the right procedures and strict technical controls from the initial point of care all the way through to the data center. A data breach or data loss can quickly erode public trust and cost millions of dollars in fines.
If you’re in an industry that must comply with specific compliance requirements, ThrottleNet has the IT risk management solutions to put your mind at ease so you can focus on your business.
Industry standards for IT compliance
ISO 27001 Information Security Management System (ISMS)
ISO 27001 is a third-party accredited certification standard that shows a company meets the strictly defined policies and procedures that encompass an organizations IT risk management process. While ThrottleNet does not provide this certification to companies, we believe it’s essential to note that it is tThe standard was developed to “provide a model for establishing, implementing, operating, monitoring, reviewing, maintaining and improving an information security management system.”
Federal Information Security Management Act (FISMA)
We know a lot about risk management. And the other thing we know is that you should be aware of FISMA. It was enacted to safeguard the economic and national security of the United States by creating specific standards that ensure the security of all data (not just sensitive data) within the federal government. Annual reviews are conducted by the heads of each agency to guarantee clearly defined information security protocols are maintained throughout the entire organization.
Managing and mitigating your IT risk is serious business to us
Prepare to be bored.
In case you’re wondering what else goes into our full-service Risk Management service, wonder no more. Our services include: asset assessment and management, business environment evaluation, governance and IT security policies, detailed risk assessment and compliance and IT system audits, comprehensive risk management strategy, access control, data security, maintenance plans, protective technology, plans for anomalies and events, continuous security monitoring, establishing detection processes, response coordination, communications planning, response analysis, mitigation, enacting continuous improvement strategies, and recovery planning.
Wow. That was a long sentence. Don’t worry; there’s more. But hopefully, you get the picture. We take IT compliance, IT security, and IT risk management seriously.