Benefits of ISO27001

Top 6 Benefits of ISO27001 2023

ISO27001 is the intentional standard for information security. It is one of the most popular and prevalent information security certificates sought by business. It is also the most requested of businesses by customers. I am Stuart Barker the ISO27001 Ninja and this is ISO27001 Benefits 2023.

The Top 6 ISO27001 Benefits 2023 You Didn’t Know But Probably Should

If you are thinking about ISO27001 in 2023 and you are wondering, is it worth it? Then you probably are looking for what the benefits actually are. It is going to be a pretty big investment for you in terms of money and/ or resource. So understanding what you are actually getting for the benefit is going to be key. This top 6 ISO27001 benefits list is in priority order and shows you were you get the most bangs for your book.

1. Win New Business 

There is no question that ISO27001 will help you to win more business. It demonstrates good information security practice. It shows to customers and potential customers that you take information security seriously. In addition, it de risks you as a potential supplier as someone else has verified that you are doing the right thing. No doubt you have already seen that it is a requirement of doing business with many organisations. The request for an ISO27001 certificate is now commonplace.

2. Answer Customer Questionnaires 

Most questionnaires that customers will send you are based on ISO27001. There is no point in the customer reinventing the wheel. You will either be able to provide your ISO27001 certificate or you will know the answers having been through the certification audit with the answer readily to hand. 

As an international standard for information security ISO 27001 is the most referenced and relied upon standard of legal and regulatory requirement. For example the GDPR and Data Protection Act 2018 and principle 6, maintain adequate security, would be satisfied with by adopting the standard.

4. Reduce the number of customer audits 

The ISO27001 certification negates the need for repeat customer audits. It reduces burden of being audited by customers.

5. Protect and Improve your reputation

Certifications and badges increase your reputation in the market. They are indicator of best practice and provide peace of mind to customers. They show that you are doing the right thing, especially in relation to information security. They evoke a sense of trust.

6. Prevent / reduce fines

Legal and regulatory fines consider what measures you have taken if and when things go wrong. Being able to demonstrate that you have done everything you can will be taken into consideration before fines are issued. It will help you to avoid and reduce costly fines associated with non-compliance with data protection requirements such as the GDPR.

The Number 1 Drawback of ISO27001

In the interest of balance it only seems fair to talk about the disadvantages of ISO27001. And there are several. But the number 1 disadvantage of ISO27001 is the impact on time and cost. It is going to take you time and cost you a lot of money if you go about it the wrong way. We wrote a great article exposing the hidden dirty truths behind ISO27001 Costs to stop you making those costly mistakes.

Of course you could save months of effort and over £10,000 by doing it yourself. Yes it is an option. Take a look.

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Benefits of ISO27001 FAQ

Will ISO27001 help me win more business?

Yes. Having an ISO27001 certification is now a common place requirement of many organisations before they will do business with you. Not having it can rule you out of supplier selection.

Will ISO27001 help me with the customer questionnaires I get?

Yes. Having and ISO27001 certification will answer most if not all of the questions that customers are going to ask you about information security.

Will ISO27001 help me comply with my legal and regulatory obligations?

Yes. Most legal and regulatory requirements have a section on information security, and many go so far as to reference ISO27001 as best practice to consider.

Will ISO27001 reduce the number of customer audits?

Yes. An ISO27001 certification means that you have had an independent audit by a qualified professional and an accredited certification body, removing the need for customers to do the audits themselves.

Will ISO27001 improve my reputation?

Yes. Having certifications and badges increases customer confidence, trust and enhances your reputation. It can be a market differentiator.

Will ISO27001 reduce any potential fines?

Yes. Being able to demonstrate best practice and proactive management that shows you did everything you possibly could, will be taken into consideration before any fines are issued.

What is the biggest drawback of ISO27001?

The biggest disadvantage of ISO27001 is the cost in terms of money and time.

Is there really any benefit to having ISO27001?

That will depend on you. ISO27001 is not for everyone.Take a look at the common top 6 benefits of ISO27001 and make up your own mind:

I have an ISO27001 benefit that is not in your top 6 list

Great. Benefits are specific to each situation. If you have one of the hundreds of other ISO27001 benefits hold on to it and be smug in the knowledge that your list is now better than our list. As it should be.

What is the 2023 update to the ISO27001 benefits all about?

In 2022 the ISO27001 standard was updated. It seemed a great time to revisit the benefits list to see if was still relevant. Spoiler alert, it was. Changes to the standard have not changed the benefits it can bring. Perhaps it has only made those benefits stronger.

All of this can be achieved by following the step by step guide to implementing ISO27001 and using the ISO27001 toolkit.

Honest Summary

I am not going to lie to you. I am not going to market to you. If you need ISO27001 certification then you need it. The decision has already been made for you. Researching the benefits of ISO27001 if you have no requirement for it is not going to create the requirement for you. It is nice to have information but the need and the demand almost always comes from commercial need. If you do not have a commercial need or the business has not decided to go for ISO27001 then no list of benefits is going to persuade them really. It is a great standard. It has a lot of upsides. But you have to face the reality that businesses have a lot of completion for their time and their money. They want a return on investment. And the return on investment, realistically, has to be a monetary return. The benefit to you is going to be very personal. The need is going to be very specific to your situation. I cannot persuade you to do it. Only provide you information and help if you do decide to go for it. If you want to discuss it, get in touch. We are nothing if not honest. 🙂

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