The challenge

The requirements for enterprise risk management have increased significantly following the introduction of the new IDW PS 340 audit standard. The standard requires companies to establish and operate an appropriate and effective risk early warning system capable of identifying significant risks that could threaten the continued operation of the business.

At the same time, increasing customer expectations, growing cyber threats and regulatory requirements created the need for a structured approach to information security management.

Implementing the Information Security Management System

To establish its ISMS, Pfeiffer Vacuum followed a structured implementation approach.

The project included:

• Reviewing existing security measures
• Performing a gap analysis
• Conducting a risk analysis
• Developing a security strategy and objectives
• Creating and implementing an action plan
• Defining security policies and processes
• Training employees
• Introducing security technologies
• Performing audits
• Continuously monitoring and reviewing the ISMS

Why Information Security mattered

Implementing an ISMS helped Pfeiffer Vacuum address several business requirements.

The company needed to:

• meet increasing customer and partner expectations regarding information security,
• address growing cyber threats that could affect business continuity,
• comply with applicable legal and regulatory requirements, including the General Data Protection Regulation (GDPR).