ISO 27001 – Why should you want it?
ISO 27001 is the gold standard for information security frameworks and is increasingly becoming required as a part of contracts with large businesses. That being said, what exactly is it? And why would you want it? I’m here to tell you exactly that!
What is it?
ISO 27001 is a management standard designed to allow organisations of any size to design their information security program – what the standard calls an Information Security Management System (ISMS). An ISMS is the policies and procedures that together define how an organisation protects itself from data loss, breaches and cybercrime.
ISO 27001 is a set of requirements designed in line with best practices for cyber and information security in the modern world and is applicable to all industries.
ISO 27001 is highly customisable to ensure suitability for all businesses and industries while still providing the same level of security. It is just as applicable for businesses with only paper records as it is for a 100% remote, cloud-based business, thanks to its optional clauses found in the Statement of Applicability. The Statement of Applicability (SOA) lets you decide what is applicable for you and your business out of the 93 controls spread over the 4 sections found in the document. The 4 sections of the SOA are:
Organisational
People
Physical
Technological
Each section of the SOA is accompanied by multiple controls which you get to decide if they fit for you on a control-by-control basis, rightsizing and customising the standard to meet your needs, ensuring compliance be applicable for every business in every sector.
Who needs it?
ISO 27001 certifications are maintained by some of the largest and well-known businesses in the world. It requires businesses to define information and cyber security requirements for their suppliers, with most requiring their suppliers to hold an ISO 27001 certification from an accredited auditor. This means that if you want to work with any of these businesses, you’ll need a certificate before they’ll even let you in the door:
Amazon
Microsoft
Apple
Google/Alphabet
Walmart
Meta
Procter & Gamble
Intel
The Walt Disney Company
Ford Motor Company
As you can see from this list, ISO 27001 is the go-to certification for businesses in all sectors from software or hardware for computing devices, to social media and entertainment giants, even to the motor industry, ISO 27001 is used by them all!
Why should you have it?
You need ISO 27001 to do business with industry giants, but what if you aren’t aiming for clients or partners of that size? There are many benefits other than just getting a certificate on the wall or a badge on your website. ISO 27001 shows to your customers, clients, and stakeholders that you take your information and cyber security seriously. It gives confidence in your business’ risk management and data handling processes, and lets you rest easy at night knowing you’re operating with industry best practices for security every day, protecting your data and business from cyber-attacks and malicious threat actors. There is a reason it is referred to as the GOLD standard!
ISO 27001 has many benefits, but a few you’re likely to notice immediately are:
Lower cost of sale due to customer security questionnaires ending once they know you have an ISO 27001 certificate.
Reduced insurance premiums
Reduced risk of cyber-attack and the costs and lost business that results.
Less money spent on your security overall by increasing efficiency and reducing expenses for ineffective defence technology.
Better prepared staff for risks, attacks and threats through robust training, documentation, and awareness.
Better visibility and control over your security processes by providing a centrally managed framework that secures all information in once place.
Knowledge that assets such as financial statements, intellectual property, employee data and information entrusted by third parties remain undamaged, confidential, and available as needed.
Better and ever evolving responses to the evolving security landscape through better visibility, monitoring of current industry threats and trends and better business processes to deal with them.
Do you have any choice but ISO 27001?
As business move increasingly online, cyber security becomes a bigger concern for all organisations. Requirements for stronger cyber and information security controls are becoming baked into contractual agreements, meaning some businesses won’t even entertain the idea of working with you if you don’t maintain at least one industry recognised security certification, and the industry standard is ISO 27001.
If you want your business to be a supplier to a large business, no matter how small you are, ISO 27001 is increasingly becoming non-negotiable. It’s not a matter of if you’ll need it, but when.
Becoming ISO 27001 certified can look like a long and complex road requiring many hours, specific expertise, and constantly evolving challenges, which is why our team of certified ISO 27001 implementors are always available for a chat. We take the stress out of ISO 27001, smoothing the path to certification so you can focus on running your business.
Whether you need a team to implement ISO in your business or just want some free advice from ISO experts on how best to get started book in a free 15-minute virtual coffee with a member of our team! We’re always happy to give free advice, and hope to speak with you soon.