The Key Benefits Of Implementing ISO 27001
ISO 27001 of 2013 is one of the most popular standards for information security. The certification is now the norm for information security best practices and is one of the requirements that can help a company renew a business contract or tender a bid.
Heads up! ISO 27001 certification is a long process that can take about six to twelve months to accomplish, provided you have everything prepared. Since information security management is now a strict requirement, you can ensure that you conform to the rules by implementing an automated ISO 27001 compliance solution that will help you meet the criteria.
Why is ISO 27001 certification important to an organization?
For information security management systems, it is only ISO 27001 that sets out the specifications. However, being certified means that the organization has identified information security and privacy management risks and has instituted preventive measures against data breaches.
The most extensive ISO accreditation body in the United States and North America is ANSI National Accreditation Board (ANAB).
Benefits of ISO 27001 implementation
Investing in an information security management system is pricey. But it is something that an enterprise must implement. This is because so many data breaches occur each day, and customers are very interested in how an organization handles and protects their valuable personal information. By now, cyber security is an integral part of most organizations, as a data breach creates repercussions that go beyond compromised information.
Customer retention and new business acquisition
Because of the frequency and extent of data breaches, customers are wary about the mishandling of data. As a result, organizations have to ensure customers have the right programs and security protocols to protect their business, customers, and business partners.
Achieving ISO 27001 certification makes you attractive to prospective customers and gain an advantage over the competition. Moreover, the certification proves to your clients and partners that you have a robust security program and practices, leading to further client retention and enhanced business relationships.
1. Eliminate loss of reputation and payment of fines
When you are ISO 27001 certified, it means that you are using a robust data security program that satisfies the requirements of the certifying body. In addition, preventing data breaches is a requirement under the law and a commitment from the organization. Although it is not easy to control a cyber-attack, having the appropriate security system in place will mitigate the loss of business reputation due to a data breach. Likewise, it minimizes the risk of paying hefty fines, which could be in the millions, depending on the severity of the situation.
2. Compliance with legal, contractual, and commercial responsibilities
When you are certified, you ensure that you comply with the regulatory requirements, including selecting proper security controls for information protection as defined by various regulators, including NIST CSF (Cybersecurity Framework), General Data Protection Regulation (GDPR) of the EU, and others.
As you can see, the benefits of an ISO 27001 implementation far outweigh the initial investment in achieving certification. It can make your business a more substantial establishment, you gain the trust of customers, and you will have an information security management system that will protect your customers, your organization, and all your business partners.