Information security is the first concern for any business. According to the IBM Cost of a Data Breach Report 2021, the global average breach cost escalated from $3.86 million to $4.24 million in 2021. It marks the highest average total cost in the 17-year history of the report.
The risk of failing to safeguard information often outweighs the threat of financial collapse for businesses. Beyond the financial ramifications, the reputational harm imposed on an organization is frequently immeasurable. The most recent strategy adopted to ensure information safety is Information Rights Management (IRM).
It is the ultimate line of defence against cyber attacks. This comprehensive guide explores Information Rights Management (IRM), its applications, and its benefits. Later, we’ll learn its role in modern information security strategies.
What is Information Rights Management (IRM)?
Information Rights Management is an advanced form of IT security technology. It is designed to protect documents containing sensitive information from unauthorized access and usage. Earlier traditional Digital Rights Management (DRM), primarily applies to mass-produced media such as music and movies. However, IRM focuses on safeguarding documents, spreadsheets, presentations, and emails created within organizations.
Fundamentally, IRM uses encryption strategies and selective permission policies to enforce security measures on digital content. By doing so, it restricts unauthorized actions like copying, viewing, printing, forwarding, deleting, and editing protected files. IRM is often referred to as Enterprise Digital Rights Management (E-DRM), which highlights its application within corporate environments.
Examples of Information Rights Management (IRM)
An example of IRM in action involves securing a sensitive engineering document distributed in an environment where the recipients may not be entirely trustworthy.
Alternatively, IRM can be applied to secure emails. If an email is unintentionally forwarded to an untrusted party, only authorized users can access it. A well-designed IRM system does not hamper information sharing. Instead, rules are enforced only when individuals attempt to access the content. This flexibility is crucial, as sensitive information is often shared with users who should legitimately have access but currently do not. Technology must enable control over sensitive information in such scenarios.
IRM offers superior security compared to shared secret passwords. Key management safeguards information while it is at rest on a hard disk, network drive, or other storage device. IRM maintains protection and access control over the document during its use. It prevents screen captures, which prohibits data copying from a secure document to an insecure environment. And, it defends against programmatic attacks are essential features of an effective IRM solution.
Challenges with Traditional Security Approaches
We identify four important gaps that must be addressed to boost sufficient security within an organization:
1. The Behavioral Gap: Employees may take shortcuts to be more efficient because security measures frequently feel difficult. For example, employees may find it easier to copy or print confidential documents rather than access them through secure channels.
2. The Visibility Gap: It might be difficult to maintain privacy if you don’t know how, when, or where your data is being utilized, kept, or located. Bridging the visibility gap allows you to track if or when confidential information is disclosed without authorization.
3. The Control Gap: Information that leaves your network may also have security that is outside of your control. This leaves gaps that could allow vulnerabilities. To address this gap, control mechanisms must extend to online, offline, server-based, or locally downloaded files, implementing granular controls to grant or cancel user permissions on information regardless of its location.
4. The Response Gap: If you only take action in response to security breaches, there will be a lapse in time before you can take appropriate action. Waiting weeks or months before implementing safeguards around sensitive documents is not possible.
Why IRM is Important?
IRM is important for various reasons, some of which is as follows:
1. Document Types: IRM is crucial for securing a wide variety of enterprise document formats, including Word documents, Excel spreadsheets, and PowerPoint presentations.
2. Security: It includes a fundamental component of data protection strategies. IRM helps safeguard files against unauthorized actions such as viewing, copying, printing, forwarding, deleting, or editing.
3. Compliance: IRM helps organizations in sticking to data protection and security standards and regulations. For example, the European Union’s General Data Protection Regulation mandates strong data protection capabilities.
4. Audits: The capability to verify effective information and data protection controls is a crucial consideration in IT audits. Presenting an IRM policy alongside associated procedures and systems for IRM implementation serves as vital audit evidence.
5. Broad Protection: Documents protected by IRM maintain their security measures regardless of their location or method of access.
Which Industries Uses IRM?
IRM finds utility across various industries:
Healthcare: Those organizations handling sensitive patient information rely on IRM to safeguard medical records.
Finance: Banks, financial institutions, and insurance companies employ IRM to secure customer data, financial transactions, and confidential business information.
Legal: Law firms and legal departments protect sensitive client information to uphold attorney-client privilege, manage case-related documents, and safeguard covert agreements.
Research and Development: Entities engaged in research and development utilize IRM to protect intellectual property, research data, and proprietary information.
Government: Government agencies managing sensitive information implement IRM to ensure data protection and controlled dissemination.
Information Rights Management vs. Digital Rights Management
Despite sharing common objectives in data protection, these systems (IRM and DRM) divide significantly in scope and application.
| Aspect | Information Rights Management (IRM) | Traditional Digital Rights Management (DRM) |
| Primary Objective | Safeguard and regulate access to digital data within and outside organizations. | Protect digital content, execute copyright, and manage distribution. |
| Application | Guards corporate data and intellectual property, including documents and emails. | Primarily guards copyrighted digital content like music, videos, ebooks, and software. |
| Scope | Covers various content types with detailed control over access, editing, sharing, and printing. | Primarily focuses on securing and overseeing digital media and proprietary content. |
| Primary Users | Commonly utilized by large organizations and businesses for securing sensitive data, ensuring privacy, and enforcing regulations. | Employed by content providers, media entities, and publishers to safeguard intellectual property, limit access, and ensure copyright adherence. |
Conclusion
At last, as our world continues to evolve, the importance of IRM in safeguarding sensitive information cannot be overstated. Information Rights Management represents a basic need of modern information security strategies. It offers strong protection against data breaches and unauthorized access.
By implementing IRM solutions, organizations can reduce risks, and achieve regulatory compliance. They will also boost secure collaboration in an increasingly interconnected world.
