Before divulging the details of ISO 27001 implementation, let me give you a brief rundown of ISMS or the Information Security Management System. Cyber-attack is undoubtedly the biggest fear of any organization. In today’s digital era, it is now more important than ever before to mandatorily implement systems and standards that safeguard’s your company’s crucial information.
ISMS demands methodological approach for controlling and safeguarding your company’s information. It usually consists of policies, regulations, and controls that lay down the set of security rules within an organization. ISO 27001 was first published in 2005 and the latest version published on 25th September 2013. This standard is probably the most recognized standard in the ISO 27000 family that efficiently manages the security of vital information of your organization.
This includes information like intellectual property, financial data, employee details and third-party information entrusted upon your organization. Cyber crime is high on the rise and poses a major threat to businesses worldwide along with detrimental effects on production as well as, reputation. It could be in any form such as email encroachment, spamming, breach of data security, credit card fraud, and so on. Businesses can lower the risks of cyber crime by implementing ISO 27001 in their operations.
ISO 27001 certification has several other benefits apart from restricting cyber crime only. Some of them are:
1) Improved sales and profits since an ISO 27001 certified organization build confidence and credibility with customers and suppliers.
2) Increased opportunities of Government tender openings that are well in compliance with the certification requirement.
3) Provides competitive advantage to the business counterparts.
4) Although information security management seems more of a cost instead of profit, however, in reality, your organization could reap financial gains if it cuts costs incurred by incidents instead.
5) ISO 27001 puts your business in order in an efficient. This standard compels organizations in allocating duties and responsibilities that solidify the organization internally.
6) Encourages proactive management of risk assessment while safeguarding your business’s reputation through employee awareness and defines specific roles and responsibilities.
7) The framework of ISO 27001 conforms to the legal and Government regulatory requirements leaving no scope for penalties due to law breaking of any sort.