Cyber security as part of the enterprise risk management system

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Here at Creative Network Solutions, we are Manchester’s leading network solution specialists. From designing and optimizing specific information technology strategies, to hosting cloud server storage solutions and top of the line security, we are the team you can count on, for all your networking needs. As such, we have produced this guide to everything you should know about enterprise risk management and cyber security.

What is an enterprise risk management system?

An enterprise risk management system exposes the risks to the business or company from various sources. These include natural disasters such as fires and floods, as well as financial disasters. From global economic crises, to financial mismanagement in company there are vast number of risks that can have a detrimental impact on your company or business. Increasingly cyber security is being recognized as an integral part of an enterprise risk management system, but what are the advantages of this?

Why should you consider cyber security as part of the enterprise risk management system?

Many businesses are now understanding that cyber security is no longer a threat to be resolved, it is in fact a risk to be managed in the long-term. As such, there are a number of reasons why you should include cyber security in your enterprise risk management system. These include:

  • Cyber crime has a very real business impact
  • Understanding the cyber security issues relevant to your business

The business impact of cyber crime 

While much of cyber security is focused on technological aspects and meeting standards and regulations, it is important to also consider cyber security in light of your business needs, and as a business issue. A cyber security attack will have real and severe consequences on the business, including causing financial damage and reputational harm. A cyber attack can even hinder your opportunity to continue trading on a daily basis. Because of the potential for a  severe business impact, it is important to add cyber security to the enterprise risk management plan and to focus on the business aspect of cyber security.

Understanding the cyber security issues relevant to your business

While acknowledging the business impact of cyber security challenges is important, it is equally as necessary to understand the security issues that are particularly relevant to your business. Each individual company will be impacted by different cyber security issues in a different way and it’s crucial to plan for and prepare for the issues that are most likely to negatively impact your company, rather than taking a generic approach to your cyber security. This is something that an enterprise risk management system will help to establish, not only improving your approach to business risks and cyber security, but also helping to develop a deep understanding of the individual risks associated with your company ,and how you can most effectively take action to protect your company.

For professional, reliable network security and cloud data solutions, that are designed to match your business needs, get in touch with the team today, here at Creative Network Solutions.