For companies serving customers internationally, obtaining an ISO 27001 certification provides a tangible demonstration of their ability to protect customer data.
The certification can also unlock business opportunities as companies evaluate the information security capabilities of their prospective vendors and partners.
What is ISO 27001 Certification?
The standard, known formally as ISO/IEC 27001, helps organizations manage cyber-risks and controls. It provides a recognized framework for ensuring the confidentiality, integrity, and availability of their data through the effective design and operation of their information security management systems (ISMS).
Obtaining ISO 27001 certification requires an audit and a determination issued by an accredited firm that the organization under review is compliant with the standard’s requirements.
ISO 27001 doesn’t offer prescriptive guidance about the cybersecurity steps an organization must take. Instead, it outlines requirements for the organization’s policies and procedures to meet the standard. Similarly, ISO 27001 certification provides third-party validation the organization is following its stated security policies.
At its heart, ISO 27001 is focused on three aspects of information protection:
- Confidentiality: Only authorized users can access information and can do so only for legitimate purposes.
- Integrity: Only authorized users can change organizational records or data.
- Availability: Authorized users must be able to access information when they need it.
The Benefits of ISO 27001 Certification
Being certified can help the organization achieve and demonstrate compliance with various cybersecurity and privacy laws, regulations, and customer requirements. In many instances, ISO 27001 certification matches the requirements of other security mandates.
Cost-Effective Cybersecurity
ISO 27001 provides a cost-effective cybersecurity framework to help organizations understand their security risks and the steps they can take to mitigate them. This knowledge can be especially beneficial for a growing company scaling up its operations.
Investing in ISO 27001 certification can help an organization reduce its total cybersecurity costs by identifying security weaknesses that may result in costly breaches and disruptions. For instance, a single security incident can produce direct costs, such as repairing the breach and notifying customers. A breach can also cause indirect costs resulting from business disruptions, damage to the organization’s reputation, or lost opportunities.
Customer Appeal
Having a certification for ISO 27001 can provide competitive advantages by allowing a company to meet customer expectations that sensitive data will be used and protected appropriately. This can enable service providers to compete effectively, potentially with larger customers that have strict security requirements. Being certified sets an organization apart from its uncertified competitors and helps customers make more informed decisions about whom they can trust.
ISO 27001 Risk Management Framework
The ISO 27001 standard offers a framework for protecting the confidentiality, integrity, and availability of an organization’s information that helps it identify and mitigate risks through the appropriate controls.
The 2022 revision of the standard lists 93 controls aligned into four categories:
- Organizational controls, including policies and expected behaviors.
- People controls, including appropriate training.
- Physical security and access controls.
- Technological controls related to information systems, including hardware and software.
ISO 27001 and SOC 2: A Perfect Match for Organizations to Evidence Cybersecurity Compliance
As an internationally recognized standard, obtaining an ISO 27001 certification is valuable for organizations with global clients or operations. U.S.-based entities will often start with System and Organization Controls (SOC) 2 attestations as those are commonly sought in the U.S. market.
Whether ISO 27001 or SOC is the most appropriate standard for an organization’s operations and customer base, there is considerable overlap between the two frameworks. Most organizations can benefit from pursuing an ISO 27001 certification and a SOC 2 attestation report at the same time.
Bringing in an audit firm qualified to assess an organization’s compliance with both standards can help it save time and money. A review of its policies, procedures, and controls aligned with one framework gives it a head start on demonstrating compliance with the other.
Since obtaining both doesn’t require twice the time or effort, many organizations undergoing SOC 2 or ISO 27001 may include the other as a simultaneous or overlapping project.
Starting the Process to Achieve Certification
ISO 27001 certification can be a valuable resource for organizations that want to showcase their commitment to managing information security. A company’s ability to implement ISO 27001 can play a huge role in protecting sensitive data and mitigating cyber risks.
Additionally, obtaining certification can improve brand reputation, increase customer trust, and create new business opportunities. Although getting ISO 27001 certification can be a challenging process, the benefits it offers are worth the effort for companies that give high importance to data security.
Interested in learning more about how an ISO 27001 certification can help your business? Contact us.
