How ISO 27001 Can Give You an Edge Over Your Competitors

When it comes to ISO 27001 certification, there’s more to it than simply complying to legal necessities.?

Data confidentiality, integrity, and a proven commitment to data protection. These are some of the values that build an organization’s reputation and attract stakeholders and customers alike.

A single data breach can cost your company up to $4.45 million, according to IBM’s recent report, not to mention your company’s hard-earned reputation as well.?

Having an Information Security Management System (ISMS) like the ISO 27001 is one of the best ways your organization can avoid money going down the drain and make sure you have a good cybersecurity system in place.

With millions of companies around the globe getting certified and 170 countries recognizing this Standard, the benefits of that little badge of the world’s leading data security standard are far-reaching.?

Let’s take a look at how you can reap the benefits of ISO 27001 certification for your organization.

Create a pathway to a global market

While it’s a no-brainer that having an ISO 27001 certification puts your business a step above all non-compliant competitors, it also opens up a whole new market for your organization.?

An internationally recognized standard means your business can strike up more international and governmental contracts much more easily. International clients and partner companies will also feel more at ease entering a deal with your organization when they see a proven dedication to risk management.??

Expand the size and scope of your organization

Building upon the first benefit, another plus side of getting ISO 27001 certified is that you can expand your organization’s size and scope. This is because most large-scale and government tenders are offered only to organizations with accreditation similar to ISO 27001.?

They can skip the rigorous individual audits and simply check whether you have the certification to the Standard because they know the risks of sharing data with third parties as well as the consequences of a data breach, meaning a compliant organization like yours is better positioned to work with them.

Showcase core values and build up a reputation?

Your organization’s certification to the Standard reflects on its commitment to data protection and integrity.?

ISO 27001 lets your customers know that your service is secure.?

Simply telling everyone your organization is safe and secure to use does not work as effectively as having an internationally recognized certification to prove it.

A certification to the Standard automatically means your organization is taking a proactive approach to cybersecurity risks.?

So, ISO 27001 certification shows potential customers and partners clear proof of your commitment to protecting data which is also good for business reputation.

Cut costs and increase revenue

A final benefit of ISO 27001 certification is to dwell on its financial impact. Following ISO 27001 makes it easier to benchmark your organization’s existing controls and safeguards and improve the overall tech infrastructure.?

This, of course, prevents those costly data breaches and ensures your organization is prepared for any type of cyber attack.?

Implementing security best practices and building a company culture that focuses on data security can also lead to flaws or operational inefficiencies that might be costing you—or even opportunities to innovate or invest that would have gone unnoticed otherwise.?

Build up to achieve other security certifications

ISO 27001 is the International Standard for information security management which reflects best practices from its inception in 1995 to the ever-evolving additions and updates to the Standard.

This can act as the foundation for achieving other security certifications as the ISO 27001 requirements can be applied to most security certifications, including SOC 2. Once one compliance is established, the process of acquiring other security frameworks is faster and less difficult.?

Like ISO 27001, SOC 2 is another security framework that showcases an organization’s commitment to protect user data and information. SOC 2 is more US-based, however, both are internationally recognized and accepted worldwide.

Bottom Line

Acquiring an ISO 27001 certification is no instant or easy task. However, the benefits to your organization are manifold. From reducing costs that stem from data breaches to maintaining reputation and attracting international clients and partners, ISO 27001 is worth the paperwork.