What Are The Benefits of ISO 27001?
ISO 27001 is an overarching guide and framework for Information Security Management Systems (ISMS) in commercial organisations. Along with evaluating the current security systems your business has in place to see if they meet the requirements to achieve an ISO 27001 certification, it also provides the controls needed for your business to be successfully audited and achieve certification.
It is not a one-time certification and needs regular management, reviews, input and ongoing evaluation of all information security assets in order to retain your certification when a surveillance audit is conducted. ISO 27001 covers all information security risk procedures, processes, and systems including physical, legal, compliance and technological.
As a business, it puts you ahead of the competition and in a position where you can potentially win more business by being prepared if asked for proof of information security measures in form of Tender Documentation and internal or external audits.
Below is a quick view of 10 of the benefits of ISO 27001. You can also read a more detailed view on the benefits of ISO 27001 to highlight the importance of the certification, and why you as a forward-thinking organisation should be seriously considering becoming certified, and why DigitalXRAID’s fully managed service should be your first choice.
10 Important Benefits of ISO 27001
1. Ahead of Competition & Marketing Edge
Briefly mentioned above, being ISO 27001 certified means you are ahead of the curve and your competition. It gives your business a marketing edge, the market is becoming more and more competitive and it can be difficult finding something that puts you ahead of others. ISO 27001 is that USP you, and your potential clients, are looking for.
2. Reducing Costs & Expenses
Often purchasing information security can be seen as an expense with no return, however there is a different way to look at it. By spending the money now, you are saving the increased costs that come with being breached in the future.
Cyber-crime is on the rise, you could lose business and clients with any information security attacks on your assets, not the mention the price that it will cost to fix the mistakes. There is no calculator that can predict the amount you will save by preparing your organisation ahead against any threats or vulnerabilities.
Along with safeguarding your business, an ISO 27001 certification demonstrates that your business is compliant and has processes in place to deal with any risk that may arise; this will provide confidence to internal and external stakeholders.
3. Maintain Existing Business
Clients and organisations are changing their requirements as they become more aware of cyber-crime and threats which are growing in frequency. Businesses like yours, which have achieved an ISO 27001 certification are less likely to be affected by these changes as you will already be prepared with the necessary risk management, incident management, audits, and other documents they may need.
4. Gain New Business & Customer Confidence
Gaining an ISO 27001 certification shows current customers and new potential business that you take cyber security seriously and that you are willing to go that extra mile to make sure all data and information assets are secure and protected. There is an increasing awareness of cyber-crime and attacks in both the commercial and domestic circles, and with these will come increasing expectations of cyber security.
5. Globally & Internationally Recognised Certification
ISO 27001 is a globally and internationally recognised certification. ISO, International Organisation for Standardisation, has been issuing Standards since 1946 that cover a variety of disciplines. They are recognised all over the world, and the ISO-27001 covers the guidelines and standards for Information Security Management Systems (ISMS), showing that your business has prepared the best it can to protect its information and secure data by following a well-known organisations standard.
6. Understanding Business Weaknesses
Your business will have its strengths and weaknesses, you will know your businesses strengths but how well do you know its weaknesses? How about its security risks? Could you be breached? Do you know where the breach could come from?
An ISO 27001 certification will help you understand and educate you on your weaknesses, and in the process mitigating and protecting against any future cyber-attacks or other risks.
7. Improve Security Processes
Many businesses have processes in place already, but they are often inconsistent and difficult to maintain. Achieving ISO 27001 certification means putting in place security processes which are systemised, manageable and cost effective. Improving on your security systems not only means you are prepared for the future, but also makes your organisations information risk security easier to manage for everyone working at the company.
8. Ensures Ongoing Compliance
ISO 27001 brings in a methodology which ensures compliance and assurance within a business. If an organisation requires various regulations regarding data protection, IT security and privacy, which some businesses do such as Governmental and Public Sector Services, then your organisation will already be compliant. ISO 27001 ensures ongoing compliance with annual audits proving that your business is secure now and prepared for the future.
9. Comply with Business, Legal & Contractual Requirements
ISO 27001 certification is also in line GDPR (General Data Protection Regulation) and the NIS Directive (Directive on Security of Network and Information Systems) and other cyber security laws and frameworks. Meaning that your business is prepared for other laws and regulations that may arise in the future.
ISO 27001 is also the basis for other cyber security requirements therefore your certified business will have found a way to simplify compliance to many regulations which saves costs and puts your organisation ahead of the game.
10. Avoid Fines
A benefit which is probably more than just a benefit. ISO 27001 is an accepted global benchmark for protecting information security, it means organisations can avoid any penalties that could be associated with non-compliance in data protection requirements as well as any fines that could be added to the already costly financial implications of a data breach.