Benefits of Internet Security Framework
Today, every business entrepreneur accepts that tomorrow’s markets will only be lead by IT-enabled companies. Because businesses which optimally exploit data & information are unbeatable in the market competition. Digitisation has made the organisations fast, smart and unstoppable; they can connect themselves with customers/stakeholders all across the world on phones/laptops without making an expensive and time-consuming journey. Without computers and the internet, information exchange is a big task and without a security, framework growth is a big challenge for organisations in the highly vulnerable information system.
In one of the biggest cyber theft cases of this century, is the theft carried by hackers to steal USD 81 million from the Bank of Bangladesh (BoB). They easily and smartly infiltrated the internet security framework of the BoB. According to Internet Security Threat Report 2016 by Symantec, the organisation recorded nine big cases of breaches and 429 million incidences of exposed identity in the previous year. And in a similar research conducted by the IBM Corporation in 2016, in 60 percent of the cyber security breaches the error originated by the activity of insiders; employees of the affected organisations. When a threat emerges from the trusted system/device of an employee, it is really difficult to detect and combat an attack. Such shocking data imply that for an effective and safe IT system, there should be a well-planned security framework in accordance with the needs of Management, System Users, and IT Professionals.
A bespoke and effective framework is the need of the hour for businesses willing to strengthen their IT security system as the performance of every department somehow depends upon the performance of the IT department. Security from internal as well as external threats should be the prime focus of IT engineers responsible for the selection and implementation of a security framework. Besides, the organisation should also provide training to its employees about the safe usages of the IT system. In addition to external threats, many times simple mistakes by legitimate IT users of the organisation also cause failures/ malfunctioning of the system.
A comprehensive IT security framework that caters the needs of all stakeholders can bring disruptive productive changes in the growth of an organisation. The major benefits of the security framework are listed below.
• Effective and institutionalised security governance, standards, and procedures across the organisation.
• A more professionally managed framework helps to create a more effective and efficient IT environment in the organisation.
• Helps to facilitate core business functions and activities, and contributes phenomenally in the optimum utilisation of the organisational resources.
• Motivates HoDs/top managers to adopt a more scientific system of governance in their respected departments.
• One of the great advantages of the security framework is educating the employees about probable threats and attacks and how they can help the organisation in fixing them.
• Leads to a more transparent and accountable business operation system.
• Helps to institutionalised management practices that raise the confidence of both internal and external customers.
• Helps to monitor and calculate execution and performance progress.
• Ensures high-quality standards and customised procedures to achieve regulatory compliances.
• Helps to check that whether the organisation is complying industry regulations and standards or not.
As cyber security is one of the biggest global challenges for developing economies like India, where cyber laws and policies are neither stringent nor well implemented. In such a difficult scenario, business should develop a customised internet security framework. Above are some of the most common benefits that an organisation enjoys after selecting a security framework. Usually, businesses hire IT consultants for customised security frameworks as needs and demands vary from sector to sector and firm to firm. IT security consultants with expertise in framework development spend substantial time in understanding the actual requirements of a business that can be understood with frequent and detailed meetings with the decision makers and heads of various departments, especially with the key people in IT. And, once they have successfully created a bespoke framework, its benefits are innumerable.