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The ISO 27001 information security standard has stood the test of time and continues to be a leading standard in its class.
The popularity of the ISO 27001 framework speaks for itself, with widespread adoption in all major countries around the globe.
Businesses must ensure that their information security policies comply with industry best practices and government laws. This requires setting up an ISO 27001-based framework and implementing the same as part of a business continuity plan.
ISO 27001 is the first and foremost requirement for any organization planning to go international or expand nationally.
Background and Context
Achieving ISO 27001 certification is a costly affair and requires prior planning. Please do not jump into it without knowing the benefits of an ISO 27001 implementation.
A responsible information security policy defines what constitutes confidential data, how to protect it, and who can access it within the organization. Without a clear information security policy, accidents are bound to happen in any large business organization with hundreds of people working together for common goals.
The following article articulates ten key benefits of adopting ISO 27001 certification.
10 Key Benefits
1) Improved reputation amongst customers and employees with ISO 27001 certification
An established brand value forms the foundation of any corporation's success and appreciation among its target audience or stakeholders. Information security plays a vital role in building and protecting this brand equity.
ISO 27001 certification is a widely recognized symbol of credibility and assurance for organizations, which helps them gain the trust and confidence of their customers.
An information security policy that aligns with ISO standards demonstrates your company's commitment to top-notch protection against data breaches and loss.
This shows your employees, stakeholders, and partners that you take security seriously, thereby reducing any worry or doubt they might have about using your services.
2) Reduced risk with ISO 27001
A thorough ISO information security system assessment helps identify vulnerabilities in an organization's existing policies and procedures. It puts forth recommendations on how to eliminate these gaps while integrating the best practices for maximum effectiveness.
Once implemented, this results in a lower risk of being compromised by hackers and a lower risk of being accused of negligence or misconduct.
3) Better business continuity
A comprehensive ISO 27001 information security system can help your company quickly recover from any disaster like a competitor hack, cyber-attack, or natural disaster. Such an information security policy should include a documented plan for dealing with data breaches and other incidents.
This includes developing effective communication protocols to ease the burden of notifying customers when critical operations have been compromised due to a major breach.
Furthermore, it creates awareness among your employees about doing the right thing during an emergency, i.e., complying with government regulations, maintaining records, and other vital procedures that will help minimize damage once such an incident occurs.
4) Reduction in cost of compliance
Managing a company's information security is costly regarding its overheads and resources.
Achieving the ISO 27001 certification dramatically reduces the time required to manage your information security. In addition, it provides you with a comprehensive set of guidelines that efficiently address any vulnerabilities.
5) Ability to take advantage of opportunities
A suitable ISO 27001 certification will give your organization an edge over its competitors by enabling you to benefit from new market opportunities, thereby advancing your business objectives.
6) Flexible implementation
The ISO framework provides you with various options for tailoring its practical implementation process in your organization at all levels (local, regional or global).
Moreover, several flexible arrangements are available, like implementing the complete core set or choosing only those elements relevant to your business.
7) Vast resource pool
ISO 27001 certification opens the doors of an extensive network comprising industry leaders, small and medium-sized businesses, and government officials who form a common platform for continual learning and exchange.
This leads to a better understanding of other organizations' information security issues, thereby establishing a collaborative environment upon which mutual trust can be built.
8) Helps you in building your brand
Achieving ISO 27001 allows you to build stronger relationships with your customers and relevant stakeholders that provide valuable inputs for your business.
It also helps accumulate more resources required to support business growth, like capital investment, human talent, and technology, which are essential for achieving greater heights.
It further provides you with a competitive advantage over your competitors, which will help you maintain a healthy market share.
9) Helps you to stand out
Achieving ISO 27001 certification puts an organization on the map of some of the biggest names in business, giving them access to valuable industry insights and opportunities that would have otherwise remained unknown to them.
It also helps make them eligible for special incentives that the government or other funding agencies may provide.
This could lead to earning profits from existing sources with greater ease and acquiring new ones that were not previously available.
10) Overall, better for business
The top priority for most businesses is customer satisfaction because this reduces expenses and increases profit margins while enhancing overall reputation.
Achieving ISO 27001 certification will give your organization an edge over its competitors. It suggests your ability to provide secure information services and meet customer expectations while gaining their trust during increasingly difficult times with data breaches and other global incidents.
ISO 27001 Certification can help you generate more profit from existing sources by strengthening your organization's security infrastructure, which is vital for running a business smoothly.
This may also lead to acquiring new opportunities that were not previously available, thereby opening a vast pool of possibilities for achieving greater success.
Conclusion
Achieving an ISO certification for your company's information security validates your compliance efforts and brings numerous benefits beyond it.
These benefits have made ISO 27001 one of the most preferred standards for businesses worldwide.
Safeguarding your company's information assets is essential to achieving sustainable long-term success; you can do so by implementing the ISO 27001 standard.
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Written by Dr. Heather Buker
Heather has been a technical SME in the cybersecurity field her entire career from developing cybersecurity software to consulting, service delivery, architecting, and product management across most industry verticals. An engineer by trade, Heather specializes in translating business needs and facilitating solutions to complex cyber and GRC use cases with technology. Heather has a Bachelors in Computer Engineering, Masters in Engineering Management, and a Doctorate in Information Technology with a specialization in information assurance and cybersecurity.
