Should construction companies be concerned about information security management?

This is an important question and one that every construction company should be asking. The answer is yes: all businesses that hold valuable information should be concerned about data security. We only have to look to recent cases of data loss to see how valuable company information is to today’s businesses. Here are four ways your construction information may be at risk.

1. Data Loss By Human Error

Sometimes data loss is purely accidental. Data recovery firm Kroll Ontrack reports that human error causes 26% of data loss incidents. When you look at virtualised environments, the incidence of human error rises to 65%!

Fortunately, there are many steps you can take that will help to prevent data loss from human error. For example, certification to ISO 27001, the international standard for information security management, will help your company to adopt the best practices necessary to avoid data loss from human error.

2. Leaked Plans

Whether intentional or not, leaked plans can have serious repercussions for construction companies. There are a number of situations in which plans can be leaked:

• Lost or stolen computers with sensitive data are used by people who can profit from the data.
• Plans stored on removable media (CDs, USB drives) are stolen.
• Authorised insiders abuse their access to data in order to gain something for themselves.

These and other situations can be avoided with careful adherence to data security controls, like restricting employee access and encrypting removable media.

3. Leaked Tenders

How would you operate differently if you knew how much your competitors were bidding on jobs? It’s tempting to want to find out about the details of other companies’ tenders.

Keep your own tenders safe with information security management controls like those outlined in ISO 27001.

4. Leaked Customer Records

Leaking customer data records is a common and dangerous information security breach. These leaks are particularly malicious to businesses because they undermine the trust companies build with their customers. If customers feel that their personal information is unsafe with you, they are much less likely to return to you in the future.

ISO 27001 Standard for Information Security Management

Construction companies depend on their reputations for future work with clients. Information security breaches can seriously compromise their ability to secure tenders and develop long-lasting, productive relationships with other businesses, government entities, and clients. 

Earning accredited certification to ISO 27001 shows that your company is committed to protecting your valuable information. With this certification, you’ll be eligible for more tenders, and potential clients won’t feel obligated to carefully evaluate all of your processes and procedures. 

Learn about how you can reach certification in as little as eight weeks by contacting us at Compliance Council. We’re here to answer your questions and help you to achieve your compliance goals.