ISO 27001:2013 (the current version of ISO 27001) is one of the most well-known standards for information security across the globe. Many companies are getting ISO 27001 certification to underline the quality of their management of security information with the help of ccgadget.
Conformity to ISO 27001 was previously about being competitive However, since ISO 27001 certification becomes the standard for information security best-practices becoming a requirement for acceptance requirement to tender or renewal of a contract. The standard’s compliance can be all the difference when it comes to winning or losing tenders that are crucial to your business.
What are the four most important advantages of getting ISO 27001?
Benefit 1. Retention of customers, creating new business
Although the return on investment for an Information Security Management System could be very high, the it is important to note that the triggers for investment usually come from outside sources, like powerful customers.
There are increasing numbers of stakeholders who are more interested in the way their personal data is managed and secured. The dangers associated with the security of data and cybersecurity of every nature are too high to rely with a handshake and assurance that a new vendor is responsible in handling data.
The belief in the past that organizations taking care to protect privacy and the security of data has been replaced by fears that data could be not being properly handled. Organizations must ensure the security of their businesses, and that is a requirement for the supply chain. This is covered in greater detail in our whitepaper , ‘Planning the business need for an Information Security Management System’.
Making sure that your company is aligned to the goals and needs of your clients will give you an advantage in competition and will make you a more appealing prospect.
In addition, ISO 27001 certification demonstrates solid security practices, thus increasing client relations and retention.
Many of our customers they are driven to meet this ISO 27001 standard is driven by their requirements for clients regardless of whether their clients are current or when they tender to win new business from clients.
In every situation, regardless of regardless of whether the driver’s task is to satisfy a client’s current or to meet the needs of a prospective client it is generally the need for a deadline-sensitive plan and the pressure to get certification fast.
ISO 27001 Experience
Our first motivation to obtain ISO 27001 back in 2012 was the fact that one of our clients demanded that we prove the validity of our system of managing information security for them to continue to conduct transactions with us. Since the time it has been an ongoing story we hear repeatedly from our customers.
ISMS.online users, Amigo, recognised that the business level customers they serve were increasingly looking for assurance of security for their information. Since no one person was able to dedicate entirely to an information security job They decided to automate and streamline the process to the greatest extent feasible. They managed to have an easy implementation and a successful ISO 27001 audit – with just a few weeks dedicated for the ISO 27001 project – thanks to the enormous head-start that ISMS.online provided them with..
Benefit 2. Preventing fines and the loss of your reputation.
In the European Union’s General Data Protection Regulation (GDPR) and the Information Commissioner’s Office (ICO) in the UK is now able to be able to impose fines as high as 4percent of a annual turnover of a company or EUR 20 million (whichever is higher) for the most serious crimes against data.
The ICO declares the following “any penalty that we issue is intended to be effective, proportionate and dissuasive, and will be decided on a case by case basis”.
Security of information and data security is higher on the list important issues for the general population and business leaders too.
In addition, headlines on the front pages of massive fines that are caused by massive data breaches will increase the necessity of information security management, and companies will not just be reviewing their own cybersecurity as well as the security credentials of the supply chain. This is a problem that affects even the smallest of companies because where there is processing and handling of data the risk is high.
In July, British Airways was handed an PS183 millions fine for infraction of GDPR in the wake of an incident that affected 500,000 customers which amounts to 1.5 percent of the airline annual revenue.
Then an additional PS100m fine was imposed to the multinational hotel chain Marriott after hackers hacked the details for 339 million guest records.
It’s not just larger firms that are being stung by the ICO. Smaller businesses are being hit with fines as well. Privacy Affairs is collating data on General Data Protection Regulation fines and has found the fine with the lowest amount to be just EUR194. This was paid by a utility company from Czechia earlier in the year.
Even if an organization is fined for a minor amount like this, it could impact the business as they will be less appealing to potential customers.
It’s not a surprise that companies want to improve their security of information to avoid being fined. Be mindful to the effects on the image of businesses who were subject to negative publicity as a result of fines or warnings. It is likely that this will negatively impact the profit margins of these companies for a long time to be.
Benefit 3 Improvement of strategies and processes
Alongside improving the way your company is perceived by customers as well as suppliers as well as other parties, ISO 27001 certification benefits your organization’s internal systems organization, structure and day-to process and procedures.
It is one of the advantages that comes with having an IT security system.
A key aspect of security management for information is the operational procedures and the responsibilities. According to the Annex A.12 framework, there are rules pertaining to the processes that must be followed and procedures for operating procedures documented for capacity and change management as well as development and testing operational environments, as well as security measures against malware and backup of information.
This framework provides a clear way for assessing the security of information Management processes, as well as key operational components like the way IT systems should be kept current, including anti-virus protection backups and data storage, IT change management, and event logs.
The process required to satisfy standards of ISO 27001 standard results in better documentation . This ensures that employees be able to follow clear guidelines and help ensure that the company is secure and secure from threats. This could include policies regarding the external drive as well as safe internet browsing and secure passwords.
Data breaches and cyber attacks can happen at any time however the planning for the future required by ISO 27001 demonstrates that you have considered the risks along with your business continuity plan and breach notification plan in the event that something went wrong, hoping to reduce any cost that are incurred.
ISO 27001 experience
ISMS.online customer, Oldfeld Partners, describe the process they had to go through prior to using ISMS.online they had completed their ISO 27001 implementation but were using spreadsheets and documents in various programs that hindered productivity and capability to complete their job’. The time for their audit was rapidly approaching and they were looking to enhance their current systems in order to show the best practices for information security. This led to their decision to adopt the cloud-based ISMS platform.
Benefit 4: Contractual, commercial and legal conformity
Annexe A.18 to ISO 27001 is about compliance with the legal and contractual obligations. The aim is to avoid any breaches of statutory, legal and contractual obligations, as well as regulatory obligations in relation to security of information and any security requirements.
A solid control should outline the way in which all relevant legislative, regulations, statutory, and contractual. The requirements, as well as the organization’s strategy to comply with these requirements must be identified and recorded and kept current for each information system and organization.
ISMS.online helps make the compliance aspect of security information a lot simpler. The built-in approval process and automatic reminders for reviews make the process easy and provide an “living plan” to demonstrate auditors that you are at the helm of your ISMS.
A company that has thought about and implemented the requirements necessary to comply with the requirements of the Annex A.18 framework will be in a position to show everyone involved that it has backed its business.
The advantages of Implementing ISO 27001 in your organisation are evident. It can lead to a better business model, as well as the security of information system that you can be proud of.
ISO creates international standards, however, it does not issue certificates. For companies located in the UK, ISO 27001 recognition is most effective when it is certified by an UKAS certified certification body that will independently examine your business and issue you with ISO 27001 certification.
Within North America, The ANSI National Accreditation Board (ANAB) is the biggest accreditation body. To view a list of their accredited organizations you can visit their directory. CDG is recognized as a well-known organization for certification in India.
The “International Accreditation Forum” (IAF) maintains a database of all accreditation bodies in the world who have joined the IAF.