Introduction
ISO 27001 is an International Standard on Information Security Management. It is a very popular information security standard applicable and beneficial to any organization regardless of its size or industry. Implementation of this standard helps organizations reduce the risk exposure and ensure the effectiveness of the security programs in place. Companies holding the ISO 27001 certification are likely to have leverage in the industry for it gives consumers confidence over the security measures & management in the organizations. An ISO 27001 provides a framework for organizations to establish strong security measures for effective risk and security management. Explaining the benefits, we have shared the top 5 reasons why organizations should achieve ISO27001 Certification. But, before that, we have briefly explained the ISO27001 Standard for our readers to understand the standard better. So, let us read further to learn about the ISO27001 Framework.
What is ISO27001 Standard?
ISO27001 is an International Standard and a global benchmark for Information Security. Businesses looking to improve their cybersecurity programs must implement the ISO27001 standard for building an effective information security framework. The standard works as a guide for organizations by providing a framework of Information Security control that should be implemented for establishing the best security defense in the organization. The standard outlines a comprehensive framework that covers 114 security control requirements divided into 14 categories. Organizations looking to achieve certification and implement the industry’s best information security measures must adhere to these security control guidelines and frameworks.
Security & Risk Management
ISO 27001 is an ISMS standard that focuses on Information Security and Risk Management. It provides a framework that helps build a strong security program in the organization. The framework helps determine the threats to critical information and manage information security risks with a proven strategy. Holding an ISO 27001 certificate is definitely an effective way for risk detection and management.
Improved Data Security Processes & Strategies
ISO 27001 standard provides a framework for organizations to implement Information Security and Risk Management policies across different verticals in the organization. Implementation of this standard ensures that processes established are consistent, and aligned with the company’s security goals and regulatory and compliance requirements. This improves the information security strategies in the organization and aligns them with various compliance requirements.
Compliance with Data Security & Data Privacy Regulations–
In many regulatory and compliance requirements ISO27001 Standard is a mandate. The standard developed helps meet the requirements of various laws and regulations, including the data privacy laws such as EU GDPR, UK GDPR, and Data Protection Act (DPA) to name a few. This further prevents penalties of non-compliance, incidents of breach, or loss of data that could impact the business.
Prevents financial penalties associated with data breaches
Incidents of a data breach can be an expensive affair and highly damaging to the reputation of a business. The financial penalties and reputational loss that comes along with it can impact the business and also result in the closure of the business. But implementation of the ISO 27001 standard helps strengthen the cybersecurity program of the organization and further prevents the possibility of costly penalties and financial losses.
Retain Customers
ISO 27001 Certification demonstrates the organization’s commitment to information security and risk management. This helps build credibility and maintain the trust of not just existing clients but also win the confidence of new clients. Holding ISO 27001 Certification can be the reason for winning a tender. This way it helps organizations expand their business to the vast global markets.
Conclusion
Achieving the ISO 27001 Certificate is beneficial for any organization. It is seen as adopting the industry best security practice within the organization for protecting business-critical information. Besides implementing ISO 27001 Standard also proves that the organization is serious about its cybersecurity programs. It further gives your clients the confidence of having implemented appropriate security measures to protect sensitive data. For businesses achieving an ISO27001 Certificate, it is definitely a win-win situation considering the trust that it gains from clients and the business growth that it fosters.
