Cybersecurity Maturity Model Certification (CMMC) is a program inaugurated by the United States Department of Defense (DoD) and was announced on January 31, 2020. The primary purpose of the CMMC is to measure the abilities and capabilities of defense contractors in the aspect of cybersecurity.
This structure was initiated to measure the Cybersecurity maturity level and guarantee that all Defense Industrial Base (DIB) contractors ensure that the Controlled Unclassified Information (CUI) and the Federal Contract Information (FCI) is well secured.
The Importance of CMMC
According to recent research in 2020, cybercrime sapped around $945 billion from the global economy, which beyond 1% of the global domestic product (GDP). It is, therefore, important that the best practices on cybersecurity should be adopted by contractors to provide a high level of defense against cybercrime which is where CMMC comes to play.
The increasing rate of cybercrime poses high risks to the future of organizations and businesses and national security. A survey of 1,500 leaders and IT managers in organizations reveals that cybercrime has a gross effect on their efficiency and makes it difficult to recover from organizational losses, thereby hampering their growth.
Cyberattacks don't only affect the growth of businesses; it also affects the development of the nation's economy. However, with the introduction of Cybersecurity Model Certification, contractors can adopt best practices on cybersecurity to provide a high level of defense against cybercrime.
Companies who go through CMMC can facilitate the security of Controlled Unclassified Information (CIU) and Intellectual Property (IP) inside the supply chain of the U.S Defense Industrial Base (DIB), thereby lessening the $600 billion annual loss caused by hacking the DIB.
Benefits of CMMC
As a subcontractor, you will acquire specific compliance provisions at different levels. However, these compliance provisions are based on contract, so it's easier if you are a small organization and can't afford to pay in advance, apart from this, CMMC comes with other benefits for organizations and businesses. These benefits include:
Higher Chance of Securing Department of Defense Contracts
Acquiring CMMC puts you at a higher chance of winning new contracts with the Department of Defense (DOD). This is because to secure new contracts with DoD; you will need to go through a third-party assessment of their cybersecurity practices which implies that if you already have a cybersecurity plan, you are at a higher advantage.
When your organization is CMMC certified, you have a higher chance over other organizations without CMMC because being CMMC certified earns your organization higher credibility.
Reduced Risks of Cyber Threat
By implementing the best practices, standards, and processes required for CMMC, your organization would be less prone to cyber-attacks. This will build your company's cybersecurity defense and ensures that your organization does not incur losses from cybercrime.
Reduced Risk of Financial Loss
Apart from financial losses that come from cyberattacks, the government can issue huge fines on contractors if their data is constantly being attacked through cybercriminal activities. However, acquiring a CMMC ensures adequate cybersecurity that prevents your business's data from being attacked.
Obtain Compliance for Other Regulations
Acquiring a CMMC makes your company qualified as a complaint about other regulations. Such as the National Institute of Standards and Technology (NIST) and International Organization of Standardization (ISO), Health Insurance Portability and Accountability Act (HIPAA), Federal Insurance Portability and Accountability Act (FISMA), Sarbanes-Oxley Act (SOX).
Conclusion
Cybersecurity Maturity Model Certification (CMMC) is essential to lessen the rate of cybercrime by ensuring that all contractors adopt the best practices and are qualified to provide adequate defense against cybercrime. This article discussed in-depth how cybersecurity can have a positive impact on your organization.
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