What is ISO 27001
ISO 27001 is the globally recognised International Security Management Standard in the field of information security and prescribes the requirements for an Information Security Management System (ISMS).
The General Personal Data Regulation (GDPR) is European-wide and as such it is important to comply with the requirements.
By obtaining the ISO 27001 standard your business demonstrates to customers, clients and stakeholder that it complies with all requirements relating to information security and the Personal Data Protection Act.
In this way ISO 27001 is a powerful business tool protecting your business and all personal data against any data breaches in order to minimise financial and reputational risk.
What is an ISMS
An information security management system (ISMS) is a set of policies and procedures designed for the management of your business sensitive data and information. As mentioned in the ISO 27001 benefits, the aim of an ISMS is to minimise risks and to instantly alert you and protect you against data breaches.
An ISMS addresses not only technical controls, it also addresses your employees awareness and behaviour. The basis of your ISMS is a risk assessment that considers both internal and external risks. This risk assessment enables your business to take action on the specific risks that face your business.
Once, the ISMS is embedded in a company’s culture, the next step is to seek certification to ISO 27001 the globally recognised information security standard.
ISO 27001 benefits
Each step in your business process chain deals with data and information, some of which is highly sensitive. Given the challenging, data-driven environment, for companies it is a balancing act, both to protect personal data and to give access when needed.
This is the critical point where an effective Information Security Management System (ISMS) can minimise risk and provide the following business benefits;
- Minimise risks
An implemented ISMS never sleeps. It instantly alerts you in case of security risks. You can react immediately to security alerts and prevent hazardous consequences.
- Reliability and trust
ISO 27001 gives your stakeholders the confidence to do business with a reliable partner who protects highly sensitive data and information from attack and disruption.
- Avoid financial penalties
With respect to the Cost of a Data Breach Study conducted by Ponemon, the average costs of a data breach costs your business $3.86 million. In addition, companies can be fined up to 4% of annual global turnover or 20 million Euros for non-compliance with GDPR (Whichever is the highest)
- Security as a business component
ISO 27001 and there information security applies to each level/department of your business. All employees/internal staff want to work for an employer which protects their data
- Sharpen the competitive advantage
As you know, ISO 27001 provides transparent proof of a professional approach to information security. With whom would your clients rather do business? With a company who manages and protects its data or with a company which does not?
The ICO (Information Commissioners’ Office) fully supports and promotes the use of Certification.