Information is a critical business asset because it forms the backbone of an organization. Despite its importance, the issue of information security is often overlooked allowing breaches of security in an organization. A problem with a breach of information security is often due to a poor information infrastructure, procedures, staff training and overall lack of awareness of information security threats.
In response to these attacks, many organizations have implemented ISO 27001 within their organization. ISO 27001 is an international recognized standard for the setup of a Information Security Management System (ISMS). An organization that has implemented ISO 27001 demonstrates its commitment to secure information.
Benefits of ISO 27001
There are many benefits of ISO 27001 when an organization implements the standard within its business model. When an organization suffers from a security breach it can have devastating consequences. For example, if a new product is leaked before it is launched it would give the competitor an advantage. Also, any personal information lost can have a huge impact on an organizations image and result in costly fines. Due to this organizations often look to strengthen their ISMS by implementing ISO 27001 throughout their business.
Enjoy Customer Loyalty and Retention
Often the initial driver for organizations to implement ISO 27001 is to prove to existing and potential customers that any information shared with the organization is secure. After the implementation, the loyal customers spread information about the company as a reliable business partner as it pays attention to data security. Aligning the priorities and operations of the organization with customers’ requirements allows the firm to maintain the existing and attract new customers.
Helps Organizations to Improve Business Processes
The benefits of ISO 27001 continue to affect the performance of the organization in the long term. Therefore, this international standard allows the organization to maintain improved business processes. Operational efficiency and effectiveness are enhanced because the standard gives the security guidelines needed to be followed by the employees to keep the system secure. Cybercrime related attacks can occur often, but a plan that involves the implementation of ISO 27001 shows that the organization has evaluated the risk that can affect business continuity.
Organize the Business
Another benefit of ISO 27001 is that it helps to maintain the organization in order, and this is often an underrated benefit. A lot of organizations, especially the new ones, are faced with challenges of determining who carries what activity. Implementation of ISO 27001 is effective in addressing these challenges as one of the requirements is outlining roles and responsibilities in terms of information security.
Helps the Organization to Reduce Expenses
The benefits of ISO 27001 to an organization goes beyond the protection of the organization’s information. Often, information security is considered an investment without financial returns. However, it all depends on how you define financial gains. Financial gain is realized by lowering the costs caused by adverse incidents such as fines and lost business. Other gains expected beyond smooth running of operations are prevention of data leakage and loyal customers. There is no methodology to calculate the financial gains, but you can think about it regarding the expenses you are likely to incur for failure to implement this standard.
Obtain a Regular Review of the Security Structure
Implementation of ISO 27001 entails having regular reviews and internal security system audits conducted for continuous improvement. The internal audit service reviews the information security management systems regularly to ensure that the control systems operate as required. The independent assessment by the internal auditor gives a professional opinion on the performance of the information security management system. Besides, it provides the recommendations needed to be taken in case any fault is identified.
The benefits of ISO 27001 to an organization are huge. The implementation of an ISO 27001 information security management system demonstrates the organizations ability and preparedness to counterattack any threat. ISO 27001 is an accepted international quality standard recognized globally. It gives organizations a process to follow for their information security management systems. The implementation provides an organization with confidence, and acceptance by customers thus having a competitive edge in the market.
If you are interested in implementing an ISO 27001 Information Security Management System within your organization, then contact us for a free consultation on how we are able to support.