What are risks that companies face because of their information systems?
What are the implication of the risks to a company’s operations?
How is risk accessed and what can companies do to combat the risks?
The information systems of organizations expose their hardware and software to failure, viruses, and malicious attacks. Aside from the general IT threats, companies are also vulnerable to criminal ones such as hacking, fraud, passwords theft, and security breaches. These risks can reveal sensitive information about a company that could lead to backlash from customers. Given that organizations cannot avoid risks once they have these information systems, they need a risk management information system (RMIS). It is a system that aggregates risk data and allows decision-makers to evaluate business risks.