In this blog, we’ll discuss what a cybersecurity framework is, why your company should adopt one, and which type to choose.
Now more than ever, businesses must adapt to a rapidly evolving threat landscape. A quick glance at recent headlines would show you that even top companies in their respective industries are routinely falling victim to cyber-attacks. The reality is that in 2021, defending your business is no longer as simple as downloading a firewall or updating your passwords. Modern companies must incorporate cybersecurity into the fabric of their day-to-day operations. One way many companies have achieved this is through adopting a cybersecurity framework.
In this blog, we’ll discuss what a cybersecurity framework is, why your company should adopt one, and which type to choose.
What Is a Cybersecurity Framework?
A cybersecurity framework at its core is a system of standards, guidelines, and best practices to manage digital risks. The most popular frameworks, such as NIST, SOC2, ISO, and HIPAA, are established by credible organizations and sometimes even the government.
Frameworks have been around in many other industries as well. In the financial industry, accountants use different frameworks to categorize the different types of financial transactions. Typically, cybersecurity frameworks are broad enough so that security personnel throughout different industries can have a systematic path to mitigate cyber risks.
Some frameworks are required for companies that want to comply with state, industry, and international cybersecurity regulations. For example, a business must pass an audit testing their compliance with the Payment Card Industry Data Security Standards (PCI DSS) framework to manage credit card transactions.
If this all is confusing, simply think of a framework as a roadmap for cybersecurity success.
Why Should You Adopt a Cybersecurity Framework?
A cybersecurity framework can serve as a flexible, repeatable, and cost-effective approach to build resilience within your business. Using a framework to align controls like local, offline, and cloud backups will improve your defense from any attack or reliance on hardware. For small businesses, complying with a security framework can put you on a trajectory of cybersecurity success. As your business grows, you’ll already have cybersecurity best practices baked into your operations which will save you the headache of having to transition to compliance as a large company.
Furthermore, security frameworks like NIST are available for free online, so there’s no upfront financial cost like with other security tools.
4 Cybersecurity Frameworks You Should Know
1. NIST Cybersecurity Framework
According to Gartner’s research, close to 50% of top U.S organizations use the NIST security framework. This includes companies such as JP Morgan Chase, Microsoft, Boeing, Intel, and more. This framework was established in response to an executive order by President Obama, which called for greater collaboration between the public and private sectors for managing cyber risk. Ever since, NIST has become the gold standard for assessing cybersecurity posture, identifying security gaps, and meeting new regulations.
2. SOC2
Service Organization Control (SOC) Type 2 is a cybersecurity framework and auditing standard developed by the American Institute of Certified Public Accountants (AICPA) to help verify that vendors properly manage client data. SOC2 specifies more than 60 compliance requirements and extensive auditing processes for third-party systems and controls. As such, SOC2 had become a critical framework, especially for companies that want to manage third-party risks.
3. ISO 27001 and 27002
ISO certifications are considered the international standard for verifying the quality of a cybersecurity program. Companies can use an ISO certification to demonstrate to customers and partners that they’re serious about cybersecurity and protecting data.
4. HIPAA
HIPAA, or the Health Insurance Portability and Accountability Act, is a law designed to protect patients’ privacy that also comprises a security framework. This framework requires healthcare organizations to implement controls for securing and protecting the privacy of electronic health information. Companies must also conduct regular risk assessments to identify emerging threats.
Choosing the Right Framework
There is no such thing as a one-size-fits-all approach to security, and each framework has its pros and cons. Some frameworks might work better depending on how complex and cyber mature your organization is. When deciding on a security framework, the best course of action is to evaluate what security practices your company already uses and then identify where the gaps lie. Based on this and your specific industry, you can determine which framework or frameworks would work best to meet your cybersecurity and compliance goals.
To learn more about other cybersecurity topics, check out our other blogs!
