Benefits of ISO 27001
The pandemic has accelerated businesses in transitioning from physical to digital work. Processes have become faster and more convenient to finish. However, the downside of digitalisation is the vulnerability of a business to cyber-attacks, data breaches, and hacking. Companies now have to take extra security measures for their safety.
Many organisations look for ISMS, or information security management, recognised by ISO 27001 certification. As a framework, ISO 27001 helps organisations improve their information security by getting a system verified by a specialised external source. It also gives stakeholders and customers additional peace of mind that the personal and corporate information and intellectual property they provide to a business will not be at risk.
Aside from the additional security and assurance it gives, an ISO 27001 certification is also beneficial for businesses in avoiding possible penalties and legal actions for data breaches, increases customer trust and enhances public reputation.
Compliant partners with a range of professionally recognised certification bodies to deliver ISO 27001 including the British Assessment Bureau, Alcumus and QMS and passes preferential rates from these bodies directly onto clients.
This article will help you learn everything you need to know about ISO 27001 in terms of its benefits, uses, and applicability to your business. Implementing ISO 27001 may seem overwhelming, that’s where we come in. Our team of professional auditors are on hand to help and our framework offers bespoke pack generation for your company and industry. In addition, all of our certifications are UKAS certified.
What is ISO 27001?
Before knowing the benefits, let us introduce you to what ISO is and why it is essential. Understanding ISO 27001 is an integral part of becoming certified. We explain the limits and scope of your protection. By the end of this section, you will understand what to expect from ISO 27001.
What is ISO 27001?
ISO 27001 is a standard that is recognised internationally for handling the risks that are linked to the information that is in your company’s possession. With certification to this standard, you can prove to your customers and other stakeholders that you are in control of the security of the information in your domain.
ISO 27001 makes sure that companies adhere to a set of standards in terms of data privacy and confidentiality in company transactions. This will assure clients, employees, and other stakeholders that a business is processing necessary data safely. When a company becomes ISO 27001 certified, it opens more opportunities for external partnerships and tendered work.
Compliant has helped a number if businesses in becoming ISO 27001 certified to get onto certain frameworks including the NHS.
Why is ISO 27001 used?
Since its primary goal is to establish a standard of data security and privacy in businesses, companies use ISO 27001 to strengthen their credibility in securing information and mitigating threats. Whether it is cyber criminality or data breach, an ISO 27001 certified company can avoid internal errors that lead to unconsented data release.
When it comes to the validity of an ISO 27001 certification, it can only be valid for up to three years. Its short period is another step for ISO to make sure that companies continuously make efforts to improve their data security as time goes by. The company’s ISMS must maintain the ISO validated standard with certified bodies annually auditing companies to monitor compliance.
Companies that have ISO 27001 have the validity as a secured company, but if they do not maintain the ISO standard, ISO could retrieve their certification from the company. ISO 27001 is used as an indispensable guide with standards to ensure the company does not experience significant consequences and losses once they encounter a cyber hacking problem.
What are the benefits of ISO 27001?
As mentioned in the introduction, this article will focus on what you can gain from becoming ISO 27001 certified. We present six of the best advantages you, as a company, can benefit from when you implement ISO 27001 with Compliant.
Have a more comprehensive reach of business partnerships and recommended collaborations
A key factor to increasing sales is establishing solid partnerships. However, you must present yourself and your company as credible to do so.
Most globally recognised companies such as Google and Microsoft use the most reliable ways to secure users’ information. They have applied ISO 27001. The certification is also relevant for smaller companies wanting to grow their business and show their professionalism. We have a portfolio of case studies showcasing a wide range of clients across a variety of industries. Could your business be next?
Reduces the chances of paying legal penalties for data privacy breaches
Once your company is ISO 27001 certified, you reduce the chances of being involved in legal disputes from data privacy cases you might encounter if you do not follow the standard. Legal penalties from the government and complainants can reach millions to solve.
Promotes a better image for the company within its field
Becoming ISO 27001certified proves that your organisation takes necessary security measures to protect stakeholders from cyber-attacks. The intent to become certified will place you ahead of your competitors because it establishes the legitimacy of your business. It can also save you time on tendered work questionnaires. More prominent companies also prefer accepting requests and partnerships with businesses that they see taking security seriously.
Reduces the number of legal and regulatory requirements the company must submit
One of the primary goals of ISO 27001 is to find the best security measures for your company. However, aside from it, there are also compulsory measures you must comply with to continue your business. When you become ISO 27001 certified, you reduce the number of requirements you need to submit because, in some cases, an ISO certification is already valid proof for other conditions.
Improves the flow of work and task management within a company
As a company grows in the number of employees and revenue, it becomes more challenging to handle and error-check each person’s work. This difficulty can start a snowball effect of the gradual decrease in quality of work, which can result in data breaches from overlooks.
One benefit of ISO 27001 is that the standard helps improve employees’ workflow by establishing a supervised security guide for the company. All employees are made aware of their responsibilities.
Regularly receive an independent assessment from an ISMS expert
One of the ways ISO ensures that the company maintains the standard of information security they validated is by surveillances. An auditor checks whether the company’s initial measures during its certification application still apply after its approval. They will also review whether any minor or major non conformances have been addressed.
The interval audit serves a purpose not only for ISO 27001 to monitor the company’s ISMS but also to see if the regulations they set are still effective. As time goes by, the demand, medium, and pace of technology change and how people transact and manipulate data adjusts.
ISO 27001 learns from different situations, reviews, and security complaints of organisations, which helps to shape its future rules for further better effectiveness.
What is the cost of implementing ISO 27001?
The cost of implementing ISO 27001 depends on the size of an organisation. When considering the size of an organisation a certification body will review the number of employees and number of premises that a business operates from.
The cost of implementation varies considerably, therefore it is important to speak with professional consultants such as Compliant to determine the best approach for your company.
We can provide you with a FREE no obligation quote today to give you an indication of costs.
Implement ISO 27001 certification and upscale your value position
An ISO certification could be your key to outshining your competitors. Some clients ask for ample proof about a company’s security measures in protecting their data. If you have an ISO certification, you will have an easier time presenting evidence because of how regular the standard is audited.
An ISO 27001 certification also proves that your company is serious about improving your security measures by following a globally-recognised standard for information security.
Having an ISO 27001 certificate in place will increase the value of your company while at the same time increasing the security of the internal management.
Better information security means fewer cyber-attack disasters
As the famous saying goes, prevention is better than cure. Even in the world of business, the better information security you set for the company, the lesser chance of being vulnerable to cyber-attacks. Since you cannot control when data breaches happen, the best you can do is get an ISO 27001 certification that will help you strengthen your security.
Remember that the measures ISO 27001 requires may be taxing to follow because of its detailed instructions. It will be worth it once you get approved. For any advice on implementing ISO 27001 contact our friendly team.
Other than its process, you can see how important ISO 27001 is in the development of your company, internally and externally, through the following:
- It encourages a better workplace environment for workers within the company by establishing a standard for information security.
- Collaborative or team risk management interventions decide what actions to take when a cyber-attack happens.
- Companies have long-term insurance of information security control if the company continuously renews its certification from ISO.
- It helps you see the typical patterns of cyber-attacks in your field and you will be able to detect and address the problem before it becomes worse.
Some companies may need tighter and more strict information security measures, while some may have looser rules.
Strengthens the company’s data privacy and security
Data has become too accessible to everyone and fluid on the internet. Accessing a person’s name, address, and birthday can already be used to manipulate a business into withdrawing a particular asset. Although a company has no intention of purposefully giving money or any other support to a cyber hacker, their vulnerability to online manipulation proves that certifications such as ISO 27001 are extremely relevant.
One of the main reasons most companies apply for an ISO certification is to improve their data privacy and security measures. ISO strengthens the company against being digitally attacked, and also guides companies on what to do once there is an actual cyber-attack. Maintaining your information security may seem like it will only cause you more maintenance than gain, but it is more than that.
Since ISO 27001 is a global standard sought after by many companies, it is proof that your company’s security is as essential as its consumer system.
Sets clear boundaries and responsibilities in data handling within the company
An ISO certification reduces the vulnerability to cyberattacks; one of the first ways to do so is by limiting and selecting which people should handle the most important data information jobs.
You cannot let all employees handle customers’ information that is why there are different departments in a company, such as logistics, administration, and public relations. ISO 27001 sets clear boundaries and responsibilities in data handling among the company’s most trusted and reliable employees. They will be the ones to be held accountable if ever a leak or any breach happens in the company because they are the point persons.
With regards to GDPR; GDPR ensures that companies maintain data privacy, while ISO 27001 is an internationally recognised standard that focuses on information security. Find out how ISO 27001 ties in with GDPR in last month’s blog article.
Summary: Is ISO 27001 worth it?
We have now established that ISO 27001 is essential if you want to develop your organisation in being more reliable in managing information. However, other than its security information guidance, it also has other benefits such as:
- Upscale in the competitive market
- Better opportunities for partnerships and tendered work
- Improves the internal management within a company through task-managing the important data, encoding roles that will be held accountable once there is a breach.
Implementing ISO 27001 is an essential step towards becoming a recognized, safe and reliable company by the public. Earning this certification is both a privilege and a hard-earned reward because of how specific ISO is about their standard.
“In the United Kingdom, ISO 27001 certifications increased to 3,367, which is higher by 21% from the previous year. The United Kingdom is ranked fifth in the world in ISO 27001 certifications, and 10% of the world’s certifications are now by UK businesses.” – IT Governance UK.
We think that ISO 27001 is worth it based on how many benefits it can offer to its beneficiaries. We work closely with clients to implement a certification that is relevant and useful to your business whilst adhering to all of the criteria set out by ISO.
Overall, the benefits of ISO 27001 surpass the length and intricacy of its application process, which we believe is worth it. You will not regret gaining your certificate.
With this standard, the security culture is enhanced across your entire organisation.
Getting started with information security
Does your business have the right policies, procedures and controls in place to protect your organisation against information security risks?
If not, we can help!
Here are some of our top tips for keeping information safe and secure:
- Deliver appropriate training on information security for staff to reduce internal risks
- Establish processes and policies to ensure the secure destruction of information and data
- Implement an effective continuity plan
- Monitor information security risks
- Record any information security failings
These are just some of the actions that you can take to address information security in a proactive way. For any more advice, a FREE no obligation quote or a quick chat with one of our BSI Lead Auditors give us a call today on 0333 456 5000.
For more information on ISO 27001, view our latest video interview with Compliant Director and Lead Auditor, Mark Henderson here.