02
Benefits
What are the benefits of adopting international standards?
Critical minerals companies experience many benefits from adopting international standards in regard to business continuity, information and cyber security and asset management.
Critical minerals companies experience many benefits from adopting international standards in regard to business continuity, information and cyber security and asset management.
Business continuity benefits
- identifying and managing current and future threats and risks to the mining organisation
- minimising incidents’ impact by identifying alternative modes of operation and implementing them in advance
- minimising downtime during incidents and improving recovery time by planning for a quick and smooth recovery of operations
and - reducing unplanned interruptions to operations and financial consequences
- keeping critical operations up and running during times of crisis
Information/cyber security benefits
- creating a proactive security posture
- enhancing the management and protection of information in the organisation
- reducing vulnerabilities, threats, and risks associated with information systems
- determining roles and responsibilities regarding information security
- improving efficiency in decision-making by articulating business objectives and providing more focused management information
- enhancing availability, confidentiality and integrity of information and
- creating plans for business continuity and disaster recovery
- improving confidence and competitiveness and providing a framework for risk management at the national and international levels
- maintaining the organisation’s reputation and placing it among industry leaders
- building confidence for customers, partners and stakeholders that the organisation is committed to protecting data
- increasing the company’s revenue, profitability and savings of industry by using protective controls effectively
- performing optimally in the face of disparate risks and multiple uncertainties.
Asset management benefits
- enhancing financial performance
- making informed asset investment decisions
- managing risks
- improving services and productions
- demonstrating social responsibility
- demonstrating compliance and
- elevating reputation
- improving the sustainability and resilience of the organisation
- increasing efficiency and effectiveness
- providing long-term planning
- assisting the organisation in delivering value and mitigating risks.
Based on JASANZ, University of Canberra and Royal Melbourne Institute of Technology (RMIT) findings after extensive consultations, some business leaders and board members are yet to demonstrate to key stakeholders that they understand cybersecurity is a business responsibility and an essential plank of corporate governance. The standards are not compulsory and they require considerable time, money and effort to implement, so many decision makers put them into the too-hard basket.
But the benefits of adopting the standards outweigh the costs.
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Benefits of standards in
Information Security
& Cyber Security
Enhance the security and integrity of your data, customer data and your IP when you adopt a proactive security posture.
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Benefits of standards in
Business
Continuity
Minimise incidents’ impact and downtime, improve recovery time, reduce financial consequences and become resilient.
02
Benefits of standards in
Asset
Management
Enhance your financial performance, manage risks, improve services, elevate your reputation and demonstrate value.
