Information assets management is the field that illustrates the approach to the security, governance, and realization of the value of information assets. In case information has value for an organization that stores it, it is to be managed efficiently to maximize opportunities of its profitability and reduce risks that correlate with cybersecurity issues. Since such problems are potentially harmful to a company vulnerable to having compromised assets, certain solutions can be applied to ensure low risks and high protection. This is at the core of cybersecurity assets management, and the assets that are to be secured may vary depending on the level of threat linked to poor management measures. Since every company stores valuable information, including a database of clients, designs, plans, accounting information, and other data that an organization is not ready to disclose publicly, cybersecurity assets management is a critical field, and it is to be addressed in order to ensure safety and privacy on multiple levels.
The information that cybersecurity management secures contrasts in terms of its use and source. As a result, regardless of whether the data is purchased, mined, raw, or created by the organization, its value may be detrimental for the organization as a whole, employees, customers, and the entire industry in which the business operates. Moreover, the threats are also characterized based on the intent and the aim to utilize private information unethically. Thus, cybersecurity threats that create a vulnerable environment for information assets consist of improper use, damage, theft, and compromisation. Multiple negative consequences can occur as a result of inadequate cybersecurity measures and ineffective assets management. The organization may be found responsible and suffer from legal consequences in terms of monetary remunerations and other actions that are economically harmful. Another threat is the loss of reputation, which is devastating for a business. In this case, clients cannot trust a company that cannot ensure the security of the data of their clients, which is a major inconvenience for people interested in supporting a brand. Last but not least, privacy concerns may impact someone’s well-being. An example would be leaked information about military operations of undercover police officers, which may have critical effects on the life-being of the person whose information became public.
As mentioned prior, IT assets differ based on the area which the information addresses but also on the threat linked to the information becoming public without intention. Some examples include data about sales, personnel, clients, intellectual property, and operational plans (Greene, 2014). All the assets are managed through certain measures that imply security and protection. Inefficient information management may lead to cybersecurity issues on all levels. Compromised information about clients and personnel is a high-risk outcome since the company may lose its credibility in terms of confidence in its services, while disclosure of intellectual property, another high-risk problem, may lead to financial and organizational issues. An information leak in regards to organizational plans may correlate with moderate risk unless the company aims to change its branding and create something unique, which transforms the challenge into a high-risk one.
It is certain that information assets management is an essential field that ensures a company’s reputation, security, privacy, and uniqueness. Due to the fact that multiple risks are linked to poor cybersecurity, every business has to be cautious with how information is being stored, who can access it, and what the regulations are in terms of secure storage. Otherwise, the adverse effects are not only harmful from an economic standpoint but also potentially damaging for the company’s reputation, which will suffer irreparable damage.
Greene, S. S. (2014). Security Program and Policies: Principles and Practices (2nd ed.). Pearson Education, Inc.