Information is the most critical asset of any growing organization. Yet, most fail to protect it, leading to costly IT disasters.
According to reports, the average cost of data breaches was an astounding $4.45 million last year. If that’s not bad enough, reports also suggest that most organizations can’t even detect data breaches when it occurs. On average, organizations take around 207 days to identify a data violation.
These statistics clearly show the dire need for a robust information security management system. It is where ISO 27001 comes in. The ISMS standard has controls and procedures for every type of cybersecurity issue, from malware attacks to data theft. Plus, it’s applicable to all organizations and industries.
Considering the growing cyber security issues, today’s blog sheds light on some of the best perks of ISO 27001.
Even if the scary numbers haven’t convinced you to adopt an ISMS yet, these ISO 27001 certification benefits will.
So, continue reading!
What Is ISO 27001 Certification?
Before jumping into the benefits, let’s learn what ISO 27001 means.
ISO 27001 is a globally accepted information security management system standard. It helps organizations maintain the quality of their information security management by establishing controls and addressing operations, technologies, and people.
The standard provides organizations with a straightforward ISMS framework. It also enables them to demonstrate compliance with cyber security regulations and laws.
Furthermore, ISO 27001 requires organizations to follow its ten clauses and implement the applicable controls to obtain the ISO 27001 certification. As a part of this requirement, you will create policies, procedures, and processes and routinely assess your ISMS.
The proactive and risk-based approach of the standard will allow you to detect information security issues before they cause severe damage.
The Best ISO 27001 Certification Benefits For Your Company
The ISO 27001 certification benefits are countless. And the best part is that any company can enjoy them.
• Improved company credibility and cyber resilience:
When an organization earns the ISO 27001 certification, it shows its commitment and dedication toward information security. For consumers and other stakeholders, it’s a sign that their personal data is safe with the organization.
It can help boost stakeholders’ trust, retain consumers, and win business deals. The ISMS certification can be especially beneficial for companies expanding overseas due to its international recognition.
• Avoid extra costs associated with cybersecurity:
Data breaches and cyber-attacks cost organizations millions of dollars every year. Unfortunately, with more access to IT, the frequency of cyber attacks is increasing. Around 236.1 million ransomware attacks occurred only in 2022.
One of the best ISO 27001 certification benefits is that its clauses help you build a robust ISMS to prevent these attacks, eliminating the extra costs. Also, following the standard can help you avoid regulatory fines.
• Improve structure and focus:
Many organizations start with a resolution to take sufficient steps toward information security management. However, as their resources and market expand, cyber security management often takes a setback.
You will never face this issue with ISO 27001. The standard requires organizations to continuously monitor, assess, and improve their ISMS. It will help you improve the overall structure of your information security management system.
• Reduce human errors:
According to reports, human errors cause around 74% of all cybersecurity breaches. One of the ISO 27001 certification benefits is that it encourages organizations to train their human resources and relevant stakeholders to avoid this issue. It also requires companies to implement specific controls to monitor and control information access.
• Tested processes:
Following the ISMS framework of ISO 27001 certification can simplify audits and reviews. You can use the standard clauses to develop a written process for internal audits. It will allow you to clearly outline the necessary protocols, procedures, and timelines for completing them, eliminating the guessing game.
Furthermore, the regular audit will help you detect processes that bring visible results and the ones that are unnecessary. It can lead to consistent and effective workflow and better output.
• Get independent opinions on your ISMS:
One of the ISO 27001 certification benefits that people often overlook is the unbiased opinions of external auditors. To obtain the ISO 27001 certification, your organization will have to go through third-party audits. These audits are excellent for finding out the flaws in information security management systems. It can also help you detect improvement opportunities in the system, preparing you for emergencies.
• Reduce security loopholes:
From risk management to gap analysis, ISO 27001 requires organizations to frequently test their ISMS for security flaws. When you incorporate the standard into your organization, you will adhere to the industry’s best practices and stay up to date with the latest data-safeguarding methods.
• Improved security awareness:
ISO 27001 certification suggests organizations establish, follow, monitor, and evaluate their security policies, improving security awareness. Also, it includes clauses for evaluating suppliers and partners for security measures.
The ISO 27001 certification benefits can help you establish a structured process to maintain your company’s ISMS. You will be able to protect the confidentiality, availability, and integrity of your stakeholders’ data, eliminate the risk of cyber security issues and associated costs, and comply with applicable regulations. Furthermore, since continual improvement is a critical clause of ISO 27001, your ISMS will never be overlooked ever again.