The Pandemic has affected several businesses, depending on their geographical location, industry, and type of industry. But Covid 19 was not the only reason for being unprepared—a sudden adoption of employees working in mass remotely was adopted as the best solution at an uncertain time. It was also a major reason for the closure of many businesses. During this time, cyber security concerns were raised by businesses due to the lack of cyber resilience and cyber security. Businesses had to convert to hybrid models during the Pandemic, and they had concerns about their information assets as they are more crucial and can be subjected to cyber-attacks. That’s when businesses were looking out for ISO 27001 certification.
What is ISO 27001?
It’s an international standard created to serve as a framework for organizations to implement, maintain and enhance their information security management systems (shortly termed iSMS). The framework ensured continued confidentiality, integrity, availability of resources, and legal compliance. ISO 27001 has nearly 114 controls, and 30+ control categories ensuring information on end-to-end business lines is safe and secure from cyber attacks
An information security management system involves legal, physical, and technical controls involved in an organization’s information risk management processes to safeguard them from cyber-attacks ensuring confidentiality and integrity.
Many corporate systems during the Pandemic didn’t have the scalability and readiness to adapt to modern navigation, even though numerous tools were available just for this purpose. Businesses were facing a tough time with making the system productive in a hybrid model, considering cyber resilience, scalability, information assets management etc. That’s where ISO 27001 standards helped businesses.
How is ISO 270001 useful for businesses?
There are several standards like ISO 9001, ISO 27001, Iso 14001, etc, that help us cut down costs, boost productivity, help in reducing cyber risks, and improve the profits of an organization. These standards are built to make businesses stay effective and prepared for any major hurdle.
The initial work on attaining these standards helps businesses understand the areas of risk, and with periodic repetition, this starts to put the process into practice.
ISO 27001 made the working arrangement more flexible, safe, and secure post covid, Those times in the thought of cyber security and secure remote management models for future purposes.
ISO 27001 helped businesses to meet regulatory information security requirements for business data and provided reassurance to customers and suppliers, also ensuring that under this framework and policies followed, the employee and organization’s information is tightly secured and protected.
ISO certifications are powerful tools for attaining business continuity and identifying both internal and external issues that will impact or become a disaster.
The major importance of ISO 27001 in your business:
- ISO 27001 protects your business reputation and your business from security threats
It is most apparent that businesses with ISO 27001 certification tend to have frameworks and working models that protect them from data breaches, security, and cyber threats. These companies work on a set of rules and regulations to attain ISO 27001 certification that eventually strengthens the organization across pillars of cyber security and protects their reputation
- Helps them with regulatory fines
ISO 27001 helps organizations avoid crucial and costly penalties that affect their capital. These penalties mostly fall under the category of data protection, such as the General Data Protection Regulation, not only with the GDPR helps you in several areas and ensures the best approach is taken towards maintaining Information security.
ISO 27001 helps you comply with GDPR, commonly known as the General Data protection regulation and NIS directive called the Directive on Security of network and information systems. There is always a risk of data breach litigation, ISO 27001 helps to reduce this risk. Getting litigation due to a data breach can damage your business reputation and affect your growth, etc. Many laws are being drafted by the EU and USA in relation to private action and consumer privacy, like California Consumer Privacy Act, Biometric Information privacy act, etc.
- Improves your company structure and focus towards growth
Globally, companies tend to adapt to ISO 27001, as growth is crucial in any line of the business, a company cannot tend to lose their focus on their information security.
By attaining ISO 270001, your business can create a highly functional and operational system that is not only flexible but also ensures the security of information assets. To ensure this company must conduct risk assessments and audits annually, which helps them to make necessary changes.
- Reducing the frequency of auditing:
As ISO 27001 is a globally accepted certification, it demonstrates its effectiveness in security, therefore rapidly reducing the need for repeated customer auditing.
Reach out today to schedule a discussion with an iBridge team member to learn how we can help your business in terms of growth and digital transformation