A mistake many business professionals make is that they associate ISO 27001 with IT, which also explains why senior executives lose interest when they’re being presented with the technical details of the Standard. But ISO 27001 is not about IT – it is about information, and managing the risks and threats that can affect its confidentiality, integrity and availability.
Because of its company-wide approach, ISO 27001 is applicable to all organisations regardless of their type and size. It is fair to say that ISO 27001 is particularly relevant to organisations that store a huge amount of sensitive data, such as Cloud, telecommunication and financial companies, as well as government and legal bodies.
With security breaches rising year-on-year, every organisation nowadays should consider implementing ISO 27001; here are nine compelling reasons to do so:
1. Managing risks
ISO 27001 provides a methodology for identifying threats and vulnerabilities, and managing information security risks. By implementing adequate security controls, risks can be mitigated and incidents prevented from occurring.
2. Supply chain assurance
ISO 27001 certification is a frequent requirement for suppliers. Compliance with the Standard helps satisfy the contractual obligations while also removing the need to invest extra time and money to meet specific requirements.
3. Winning new business
As information security has become a critical area for businesses, clients’ demands to see evidence that best practices are followed have increased. ISO 27001 certification demonstrates credibility when tendering for contracts and can make the difference between winning and losing tenders.
4. Stakeholder satisfaction
ISO 27001 certification demonstrates to all stakeholders that an organisation has invested in exemplary practices to safeguard its own and its stakeholders’ information assets. This increases trust in the organisation.
5. Minimise financial losses
Any company that has sensitive information is bound to suffer significant reputational and financial damage if it is breached. ISO 27001 helps protect organisations from destructive cyber attacks, thereby reducing the risk of financial losses.
6. Improved processes
As a management standard, ISO 27001 provides a framework for implementing policies and procedures, and helps to establish processes that are consistent, repeatable and maintainable.
7. Continual improvement
ISO 27001 requires an organisation to continually improve its information security management system (ISMS) to ensure its sustainability, adequacy and effectiveness. This provides the organisation with better protection of its information assets within an ever-changing cyber threat environment.
8. Regulatory compliance
Implementing ISO 27001 helps meet the requirements of various laws and regulations, including the Data Protection Act (DPA) and the Gambling Commission’s Remote gambling and software technical standards (RTS) in the UK, and the Health Insurance Portability and Accountability Act (HIPAA) in the US.
9. Worldwide recognition
Since ISO 27001 is an international standard, certification to the Standard is recognised worldwide and it can be essential for winning business abroad.
ISO 27001 Gap Analysis
If you are considering implementing ISO 27001, start by conducting an ISO 27001 Feasibility and Gap Analysis to establish your information security posture and identify what you need to do to comply with the Standard.
IT Governance’s fixed-price ISO 27001 Feasibility and Gap Analysis is suitable for any organisation, and can help you build a business case for ISO 27001 and justify your expenditure.
Contact us on +44 (0)20 3633 2144 to find out more.