The internationally known ISO/IEC 27001 standard provides the requirements for the implementation of an information security management system (ISMS), a set of principles and controls used to secure the information that an organization stores and processes.
An ISMS is a system of processes, technology, documents and people that assist in managing, auditing, monitoring and improving an organization’s information security. The ISO/IEC 27001 standard helps you synchronize all your security processes in one place, continually and cost-effectively.
What are the benefits of implementing ISO/IEC 27001?
Secure information: The ISO/IEC 27001 – ISMS does not only cover digital assets, but it also includes all sorts of information that are part of your organization. This benefits your organization in terms of staying compliant with the EU General Data Protection Regulation (GDPR), which requires that you protect all personal data, both hard copy or digital.
Improved security threat response: ISO/IEC 27001 is based on regular risk assessments, which means you will be protected against continuous cyberthreats and risks.
Increased cyberattack resilience: An ISMS that is centrally managed will help your organization reduce the risks that are related to cyberattacks by making sure that your staff is trained as well as by ensuring that your software is kept up to date.
Compliance with laws and regulations: An ISMS, which employs is risk-based thinking, will ensure the data you are managing is not only secured but also compliant with laws and regulations.
Less risk of financial penalties due to data breaches: Data breaches are getting increasingly expensive, especially since GDPR came into force. The “GDPR prescribes administrative fines of up to €20 million or 4% of annual global turnover – whichever is greater.” That should raise a red flag and alert you that you need to have a best-practice system implemented to avoid such staggering fines in case sensitive data is not managed on compliance with the GDPR.
Other strategic benefits:
Marketing advantage: In a world where competition keeps getting tougher every single minute, your organization needs something that sets you apart from your closest competitors The ISO/IEC 27001 standard can serve precisely that purpose, which ensures that your potential and existing clients see you as a reliable company with a strong reputation.
Reduce costs: As already mentioned, cyberattacks and data leakages—which as can be seen from the recent attacks such as WannaCry and many others—can have huge costs. Naturally, seeing the course of cyberattacks, it’s almost impossible to predict what will happen in the future. However, if your organization is very present in the cyber realm and relies heavily on cybersecurity, you can be secure from most potential attacks by implementing ISO/IEC 27001.
Creating a well-structured system: Companies that are gradually growing have to deal with scalability and the integration of various new services throughout their journey. Integrating these processes will cause problems in determining the allocation of responsibilities and who will be in charge of what. However, if you implement an ISO management system such as ISO 27001, you will be able to define tasks and responsibilities successfully, in a well-structured manner, which will ensure your organization runs in a smooth and organized way.
The ISO/IEC 27001 standard is the definition of safe and secure information management. When you have such a system implemented, your organization can be viewed as a leader by your existing and potential clients. It goes without saying that to implement such a comprehensive system, you need to have the full support of your top management that this standard has many benefits, especially in terms of strengthening brand reputation.