ISO 27001 is a voluntary standard employed by service providers to secure customer information. An ISMS is a set of policies for protecting and managing an enterprise’s sensitive information, e.g., financial data, intellectual property, customer details and employee records. If you are conducting business to business, you should consider whether they require ISO 27001 or SOC2 or even both in the case of a variety due to a more extensive customer base.ISO/IEC 27001, also known as ISO 27001, is a security standard that outlines the suggested requirements for building, monitoring and improving an information security management system (ISMS). If your organisation is internationally operating, you will need to consider the demands of your customer base and who they are. According to the ISO Survey 2020, 44,486 organisations were certified for the standard, 8,124 more organisations than in 2019 and 12,576 more than in 2018 – a clear trend of greater adoption. The more significant benefit of ISO 27001 in this regard is that the standard is internationally accepted, and the number of organisations adopting the standard is constantly growing at an exponential rate. Organisations only performing business with U.S.-based businesses and customers should find a SOC2 sufficient. SOC2 is a well-known U.S security standard that has established itself as a pretty common business practice. Whereas organisations primarily working in North America may achieve just SOC 2 certification better. Organisations mainly working out of the United Kingdom and Europe are well-suited to pursuing ISO 27001 certification for their business, clients, and partners. One question larger organisations should ask when considering ISO 27001 certification is which regions your organisation primarily works in. In turn, this helps to increase your competitive edge. Aside from saving time and expenses, certification boosts your organisation’s reputation with clients and other organisations by showing them you have a solid commitment to upholding information security practices and protecting any information of theirs you may hold. Investing in information security before breaches or risks become critical will keep you from growing fines from the Information Commissioner’s Office or other costs related to repairing or improving existing systems.
Furthermore, ISO 27001 accreditation demonstrates a commitment to compliance with regulation and continually improving information security practices in our ever-developing world.įrom a financial perspective, ISO 27001 certification helps you to save money and time down the line. Certification at a base level helps to reduce information security, privacy risks, and breaches from occurring in the first place or drastically reduce the fallout of any information security breach. There are a plethora of benefits to implementing ISO 27001 in your organisation.
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