Reasons to Love ISO 27001
UK businesses reported losses of £1,079,447,765 because of cyber-crime in the past year.
The International Organization of Standardization combated Information Security by publishing ISO 27001, a standard for creating an Information Security Management System. For over 10 years, ISO 27001 has been recognised internationally as the foundation for any organisation that is serious about tackling threats to information security, including cyber-crime.
Cyber-crime is on the rise. These statistics only represent reported incidents – many businesses don’t report anything due to the damage of reputation that is entailed in doing so.
So why is this a growing issue? There are several factors contributing to the rise of cyber-crime that are fast making it an epidemic! Firstly, the cyber criminals are getting more sophisticated. They are investing heavily in high-tech hacking and malware techniques, the traditional firewall defences are being left behind, many are merely smokewalls these days. Moreover, the client data and intellectual property being stolen is worth so much that cyber criminals are willing to go to extreme lengths to attain it. The data they steal is hugely valuable.
It is now more pertinent than ever for UK businesses to assess their defences against cyber threats. With ISO 27001 a proven tool to help manager cyber related risks, below we outline the benefits.
Security & ISO 27001
ISO 27001 is the greatest data security measure a business can have. It gives you the confidence that your business is aligned with the best practice to keep your confidential information secure from cyber thieves.
Many cyber-attacks happen when information is in transit, for example being e-mailed or uploaded to a cloud. ISO 27001 requires you to review how information is shared and accessed, something that is fundamental in the day to day running of a secure business.
A lot of UK businesses unwittingly put themselves in harm’s way; ISO 27001 implements processes to manage and minimise risk exposure whilst building a culture of security.
Brand & ISO 27001
The image of a company is vital for success, how you are perceived really matters! Being certified to the ISO 27001 standard provides customers and stakeholders with confidence in how you hold their data and manage your risk.
Many businesses that don’t have ISO 27001 are being left behind, potential customers are so aware of cyber security threats that having the standard can be a deal breaker. If your business is certified then this is a massive competitor advantage, something that differentiates you from competitors with a seemingly more ‘slack’ approach to their customers data. It is something your business can promote as a key selling point.
Above all else, ISO 27001 builds instant trust between you and your customers.
Compliance & ISO 27001
ISO 27001 demonstrates that you are following recognised best practice to keep your information secure. Therefore, if your organisation did come under scrutiny for any reason then you can demonstrate you are compliant to and exceed legal and regulatory requirements. This way you can avoid costly penalties.
For many government tenders, you must be ISO 27001 certified to apply. More and more are making it a requirement.
Growth & ISO 27001
A key benefit to have the ISO 27001 standard is the immediate growth in the business, this is because customers and suppliers recognise a credible trusted partner and are more open to doing business with you. It really does open doors.
There are several reasons why client retention is higher for businesses that have the standard versus those who don’t. The main reason is that achieving certification gives assurance that you are more than your word; you have proven your credibility to a third party. Fundamentally, having robust processes in place means you will deliver a consistent, high level of service whilst protecting your reputation. Not only does this help in retention, but greater client satisfaction can lead to increased sales and referrals.
Without robust processes, the opposite occurs.When businesses grow quickly, things can get messy with procedures becoming assumed, unneccessary, duplicated – or non-existant! This can create internal frustrations, with clients suffering as a result. ISO 27001 enables businesses to sustain and support growth due to the controls that are in place.
ISO 27001 also leads to a reduction in incidents and support costs, this means more time can be spent on productivity.
As experts in the industry, you can trust us to take you through the process quickly and cost effectively, so you can start using your ISO 27001 certificate as soon as possible. As champions of small businesses, we also spread the cost over interest-free staged payments – just another reason why 99% of our clients recommend us.