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Computer Information Systems, Essay Example

Pages: 2

Words: 648

Essay

Question 1: Describe how uploading data into any CIS has a financial impact on the organization. Also, choose at least one of the questions below to discuss?

Computer Information Systems have become an integral part of the business world in the 21st Century. These systems have transformed the way business is done as they are a management tool of information, a crucial part of any business. However, it is vital to understand the financial implications of uploading data into any Computer Information System.

Security

The security of information is paramount to any given organization. The protection of this data has a direct financial bearing on the organization. Once the data has been uploaded into the computer information system, the protection of the data begins at that point (Pokorný, J., & SpringerLink (Online service), 2011). If at any point in time this information is leaked, the company stands to lose considerably as competitors would use such information to develop and counter strategies to gain a competitive edge. To protect this information, the company usually hires a computer and network security specialist who sets up necessary security measures, such as firewall and password protection to provide different levels of clearance in order to control who has access to the vital information.

Data Storage

The use of a computer information system by any given organization provides a digital frontier where the company information can be stored. This digital storage space is in large contrast to the manual and hardcopy storage system that occupies physical space (Kim & Solomon, 2012). By occupying very little space as compared to the hard copy and manual techniques, this allows the company to save on costs associated with storage space for hard copies of the same data.

Data Analysis

Once information or data has been entered into a computer information system, the company is to conduct data analysis automatically by using computer software that is specialized for such tasks (Johns, M. L., & American Health Information Management Association, 2011). In order to acquire these software, the company has to purchase them from the appropriate software provider. However, this saves the company financial resources as compared to conducting analysis manually on hard copy information.

Question 2: What is the liability cost to an organization in the event of a data breach?

In the event that a data breach event takes place, an organization incurs huge liability costs as a result of the breach. These liability costs include:

Exposure of clientele information that may lead to law suits from the clientele. Such law suits have huge financial implications on the company as it is pivotal and mandatory that organizations protect clients’ information.

Leakage of the organizations sensitive information pertaining to finances and operational procedures. This may lead to the organization losing the competitive advantage in the market as competition would develop strategies to counter any strategies the organization had put in place.

A data breach may lead to the organization facing further risk of theft. (De, 2012) This is because when sensitive information on an organizations assets and their positions is leaked, in the wrong hands, this information can lead to theft of such assets as bank balances from the organization’s bank account.

A data breach may lead to an organization losing face in the market and reducing their competitiveness. This is because clients and suppliers do not wish to deal with business entities whose information security is questionable (Kim & Solomon, 2012). This leads to the organization losing clientele and suppliers, leading to considerable financial loss.

References

De, M. M. (2012). Information systems: Crossroads for organization, management, accounting and engineering ; ItAIS: The Italian Association for Information Systems. Heidelberg: Physica-Verlag.

Johns, M. L., & American Health Information Management Association. (2011). Health information management technology: An applied approach. Chicago: American Health Information Management Association.

Kim, D., & Solomon, M. (2012). Fundamentals of information systems security. Sudbury: Jones & Bartlett Learning.

Pokorný, J., & SpringerLink (Online service). (2011). Information systems development: Business systems and services: modeling and development. New York: Springer.

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