Information security risks are at an all-time high as cybercrime became increasingly sophisticated with the backing of machine learning, AI, and 5G technology. According to a 2019 data risk assessment, only 5 percent of companies’ folders are properly protected.
Even the healthcare, pharmaceutical, and biotechnology industries (sectors that are heavily regulated for user privacy and data security) are vulnerable. Data shows that 18 percent of folders and 15 percent of sensitive files in these industries are exposed.
Information security is paramount, especially in the healthcare sector where the health records and personal data of thousands of patients could be compromised. Protecting personal healthcare information (PHI) takes more than impenetrable firewalls and sophisticated breach tracking software, organizations in the healthcare sector also should have a comprehensive risk management plan in place.
This was exactly what Disabled Veteran Owned Business or DVOB-certified Fortuna BMC delivered for an international healthcare services vendor.
The Goals of Risk Management Protocols
Cybersecurity solutions need efficient and comprehensive risk management plans to be fully optimized. An organization cannot depend entirely on its firewalls. It also needs to proactively deter virtual threats by gathering, assessing, and utilizing cybersecurity data to strengthen the software and human factors of their overall information security protocols.
Risk management for information security encompasses the following:
- Security infrastructure
- Monitoring protocols for security risks
- Risk detection and elimination
To achieve these, IT security experts must:
- Identify which assets need protection, what the system’s vulnerabilities are, the possible threats, and whether there are SOPs in place to mitigate or fix threats
- Assess the risks and predict scenarios
- Come up with solutions for different scenarios and risk levels
- Communicate the solutions and protocols to the entire organization
Without risk management, companies will be burdened with constantly reacting to threats at the last minute.
Understanding the importance of defensive solutions beyond firewalls, Fortuna BMC designed a comprehensive risk management process for the aforementioned client.
Case Study: Information Security Program and Risk Management Process Design and Implementation
Fortuna BMC spent a year building an enterprise risk register that could:
- Track and categorize risks
- Recognize risk trends
- Develop a comprehensive process for managing and eliminating risks and threats
- Unify and streamline the management’s approach to security threats
We assigned a Subject Matter Expert (SME) Consultant in Information Security Risk, Governance, and Compliance to this project. The SME began with a thorough review and study of all existing documentation on information security. After identifying the risks and compliance threats across the client’s multiple lines of business, the SME built an enterprise risk register that revealed the client’s current risk profiles. The SME also designed the implementation process.
Find out more about this case study.
The DVOB Advantage
While our assigned SME focused on fixing the flaws in the information security processes, our client enjoyed additional benefits from Fortuna BMC’s DVOB status.
As a Disabled Veteran Owned Business (DVOB) consulting firm, we bring expertise and extensive human resources to the table. Our military-trained teams have unique knowledge and experience in goal setting and security risk reduction methods in addition to unfailing work ethic and discipline.
Another benefit that awaits companies that target primary contractorship for big projects for IT and personnel staffing: subcontracting Fortuna BMC will help fulfill their obligation to meet their small business participation goal. This benefit applies to big contracts for IT and personnel staffing.
The Best Business Management Consulting Experience
Reap the rewards of effective information security risk management and DVOB subcontracting with Fortuna BMC. If you face the same challenges as our client, and if you want to kill two birds with one stone by hiring a Disabled Veteran Owned Business (DVOB) consulting company, email us and receive your free consultation.