Have you seen ISO 27001 pop up at every corner, but you need to figure out if (and how) it can protect your business? Or you’ve considered becoming ISO 27001 certified but are still determining where to start and whether or not it’s worth the fuss.
Spoiler alert: It’s worth the fuss.
As the ISO 27001 certification becomes less of a novelty and more of a necessity, many businesses are still on the fence about whether it’s the right pick for their specific industry. In cases like these, it’s best to bring it back to basics. So here’s what you need to know about the world’s leading security framework and how it can benefit your business.
What is ISO 27001?
If you’re familiar with ISO 27001 but would like a quick refresher on the ins and outs, jog your memory with our ISO 27001 in under 27001 milliseconds. However, if you’re brand new to the world of compliance, it’s essential that we set the groundwork before diving into the benefits.
ISO 27001 is a common compliance requirement in Europe and is internationally recognized as the highest standard in information security. It forms part of a framework series known as the ISO 27000 series. ISO 27001, however, centers explicitly around Information Security Management System (ISMS) requirements. An Information Security Management System (ISMS) concerns all your policies, practices, personnel, documentation, and controls. It then compares this with the ISO 27001 standard and how you preserve ISO 27001’s three core pillars of information security: Confidentiality, Integrity, and Availability.
Becoming ISO 27001 Certified
An ISO 27001 can be obtained through independent auditors confirming that your organization has complied with all requirements and has successfully applied best practices in line with the ISO 27001 security standards. That being said, becoming ISO 27001 certified requires an organization to pass the exacting ISO 27001 requirements. To do this, you must establish an information security management system (ISMS) that complies with ISO 27001 standards. Our complete ISO 27001 Checklist Guide offers a starting point for your journey toward compliance.
Once certified, the benefits can start stacking up. Here are a few of the key benefits of ISO 27001.
Key Benefits of ISO 27001 Certification
Mitigate Security Threats and Cyber Attacks
Protecting your business data and client information from data security threats is essential. But in an age where information security threats and breaches become more advanced by the minute, it’s challenging to know what’s at risk and what isn’t. ISO 27001 provides a quintessential framework for security and ensures that your business does due diligence when protecting information. Through setting a standard for risk assessments, staff training, security controls, policies, and processes, ISO 27001 protects your business from external and internal security threats.
By adopting ISO 27001, you can avoid the hefty financial penalties and losses associated with data breaches. One of the key benefits of ISO 27001 implementation is that it can help your organization prevent costly security incidents by providing a global standard for effective information management. Your ISO 27001-certified company can demonstrate to customers, partners, and shareholders that you have taken the necessary steps to protect data, minimizing both the financial and reputational damage in the event of a breach.
Meet Additional Regulatory Requirements
Your business must comply with any relevant regulation, as well as any recommended standards regarding data and information security. Depending on the type of information, location, and industry, you may be subject to specific regulatory frameworks. One of the key benefits of ISO 2700 is that it provides the required proof that you’re complying with relevant security standards.
Each business is different and will be subject to different regulations. ISO 27001, however, creates a sound foundation for even some of the requirements within other frameworks such as, NIST CSF (Cybersecurity Framework), and the General Data Protection Regulation (GDPR) of the European Union.
Win New Business and Sharpen Your Competitive Edge
Information security is critical for retaining and onboarding customers. As technology advances and industries become saturated with similar companies, there’s one thing that stands paramount – who would you trust with your critical information?
ISO 27001 compliance helps you demonstrate good security practices, which not only instills trust but also strengthens relationships with clients and provides a clear competitive advantage. Among the numerous benefits of ISO 27001 certification is its reflection of your commitment to implementing industry-recognized security best practices, often referred to as ‘The Golden Standard.’ This distinction can set you apart from competitors who either use alternative frameworks or lack certification altogether. Moreover, with ISO 27001 certification, you can confidently expand into new markets and win more deals with reduced risk and enhanced credibility, knowing your claims are backed by recognized standards.
In a nutshell, you can leverage your certification to:
- Tender for new contracts;
- Demonstrate to potential clients that security is your #1 priority; and
- Stand out from the competition by showcasing your security credentials.
Follow a Risk-Based Approach
Once you’re ISO 27001 certified, you’ll be able to fully mitigate potential security risks and breaches by taking a proactive approach to risk management. ISO 27001’s risk-based approach manages an organization’s information security and appropriately prioritizes the security risks. This allows you to take a tailored approach to information security by ensuring you implement the controls relevant to your specific priorities and risks. Then, as a business, you can comply with appropriate security measures and let go of those irrelevant to your company.
Reduce Human Errors
Your employees are still your first line of defense. But, like it or not, the vast majority (up to 90%) of security violations and breaches still come from internal threats. By becoming ISO 27001 certified, you’re increasing your organization’s security awareness and ensuring that all policies and procedures are aligned throughout the workforce. In addition, ISO 27001 promotes continuous learning and requires your team to undergo ongoing security awareness training.
Improve Organizational Structure and Focus
ISO 27001 certification can help you improve your organizational structure and focus by clearly defining roles and responsibilities for managing information risks. As your company grows, confusion can arise around who is responsible for protecting various assets. ISO 27001 addresses this by streamlining the delegation of tasks, improving productivity and decision-making. With a clear structure in place, you can ensure your employees avoid duplicating efforts, reduce overall costs, and ensure that everyone understands their specific role in protecting information. By doing so, you not only strengthen security but also enable your organization to refocus on what truly matters – creating value for your customers.
Automate Your Security Compliance
As your business grows, so does its exposure to security threats and breaches. However, in the past, protecting your business and getting (and staying) ISO 27001 compliant meant undergoing a manual, complex, and highly time-consuming process. These processes towards becoming ISO certified frequently disrupt employees’ key responsibilities and delay company growth.
Fortunately, that’s a thing of the past. Or at least, it can be. Automated evidence collection means no more manual administrative tasks and takes you from burden to benefit with a click. Ready to start reaping the benefits of ISO 27001?
Automating evidence collection eliminates manual administrative tasks, transforming the compliance journey from a burden to a benefit. This seamless process not only saves time but also ensures a smoother path to ISO 27001 certification. Ready to unlock the full advantages of ISO 27001? Streamline your compliance with automation and start checking off your list of ISO 27001 benefits with Scytale.
