ISO/IEC 27001 – ISMS
Information Security Management System
ISO/IEC 27001- Service Management System
Risk management in the industry dealing with information doesn’t get as much notice as it should. The ISO/IEC 27001 standards exist to help businesses deal with risk management within their organizations associated with information and its management. It deals with the development, maintenance, and continual improvement of an information security management system (ISMS). The standard works by allowing companies to delve into their internal processes and see what works and what doesn’t. The organization can highlight the risks in their existing management system and design solutions that can address those shortcomings. An integral part of the standard is constant improvement, following the standard ISO methodology of Plan, Do, Check, and Act.
For an organization that’s considering the standard, it adds a lot of value to existing businesses. The ISMS ensures that the company understands the risks associated with its business model and how to deal with those risks in the most efficient manner possible. The standard addresses three core component of information security:
- Integrity
- Confidentiality
- Availability
Developing an ISMS in line with the ISO/IEC 27001 standard requirements allows a company to improve its overall information security and establish a framework for sustainable development initiatives.
What Does ISO/IEC 27001 Offer?
The ISO/IEC 27001 standards are unique in how they address an organization’s problems. The standard addresses industry best-practice. It allows organizations to manage their information security from the perspective of people and processes, as well sas the technology that fuels the collection and storage of that information. Being certified for the standard shows that an organization has gone through implementing and improving their ISMS in keeping with industry best practices. As a result, clients tend to give more weight to applications and tenders from contractors that show off their accredited status.
Leveraging ISO/IEC 27001 gives businesses a unique advantage in a competitive market. International clients tend to look for this seal of approval before hiring contractors because the ISO standard shows the business can trust them to deliver on promises. Besides the competitive advantage, implementing a working ISMS for risk management within any IT company brings its own benefits. The system is designed to ensure that businesses understand the risks to their data and manage those risks to provide the most efficient performance while exposing as little as possible.
The Benefits of ISO/IEC 27001
Achieving certification in the ISO/IEC 27001 standard requires that a business goes through the necessary stages. Each one of these stages tests the business’s ability to examine its processes critically and spot flaws. Because of the focus on finding and correcting issues within processes, the result is a company that’s far more streamlined than its competitors. Among the inherent benefits implementing the standard offers to a business are:
- Effective risk management: The standard’s basis is risk management. A company that implements it can safely say that they meet the basic requirements for a professional level of risk management.
- Competitive advantage: Organizations that have achieved certified status in accordance with the guidelines outlined by ISO/IEC 27001 stand a better chance of landing high-value contracts with multinational corporations.
- Peace of mind: Secure information systems mean an easier time for both information security personnel and management, knowing that the company’s data is secure and its processes for risk management in keeping with industry best-practice.
- Return on Investment calculations: A proper grasp of security ROI allows a business to calculate key performance indicators within their organization with reasonable effectiveness.
- Protection of Data and Reputation: ISO/IEC 27001 offers businesses a unique way to protect their reputations and their data simultaneously. No client would put faith in a company with a proven track record of data breaches. Thus, the risk management implemented by the standard keeps this issue from being a problem.
- Client Confidence: With each breach, company loses face with its customers, not to mention the industry at large. Nothing is as embarrassing to the professional image of a business as a data breach. The standard makes it less likely for these breaches to happen and secures the business’s data if it does occur.
Taking the Initiative
Overall, most businesses could benefit from implementing the ISO/IEC 27001 standard. If you’re an organization with a significant amount of digital assets or data stored on servers, this may be of extreme importance. If you have employees working from home, this standard helps examine procedures for connection and increase the security of those user machines to avoid breaches. Need some help understanding the requirements of ISO/IEC 27001 or some professional advice in achieving certification for your organization? Call Sync Resource today to get started!
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ISO 27001
What are the typical costs and timeframes associated with implementing ISO 27001, complete with audit?
Stage 1: Discovery
- Gap Analysis to identify the gaps as compared to standard requirements
- Awareness Training
Stage 2: Documentation & Implementation
- Documentation
Documenting Management System procedures and WI based on document structure most suitable and value add to the Organization.
- Implementation
Once documents are drafted, reviewed, and approved, process owners, will implement the documented processes.
Stage 3: Audit (Internal and External)
- Internal Audit of the implemented ISMS and Management Review is a mandatory requirement. An internal Audit program with an Internal Audit schedule and plan is required. Internal audit needs to be conducted by Trained Internal Auditors or External Contracted Auditors.
- After Internal Audit, External Audit can be scheduled and conducted.
This entire process can take up to 6-8 months depending on the number of locations, employees, scope, number of processes, and resource commitment by the organization.The various cost incurred in the process of securing ISO certification are distributed over a 3-year cycle:1st Year Cost
- Create and Charter ISO project (Quality Manager)
- External Registrar Cost+ Logistic Cost
- Consultant Support( if external consultant used)
2nd Year Cost
- Surveillance Audit and Logistics cost.
- Soft Cost associated with Internal Audit,
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- Reporting, and Maintenance of the QMS
- Reporting, and Maintenance of the QMS
Recertification cost( every 3 years)
- External Audit and Logistics cost
How important is ISO 27001 certification?
ISO 27001 is a Management system for Information Security. Keeping information secure is not the task of IT department but of each individual of the Organization. Becoming more aware of existing threats will help the organization to manage the risks and place effective controls. That is the true benefit of the ISMS certification.
How and from where should I download ISO 27001 standards?
ISO standard can be purchased from ANSI stores, ISO website, and authorized vendors only. Printed/electronic copies are managed per the Terms and Agreement as well as IEC and ISO copyright requirements.
https://webstore.ansi.org/standards/iso/isoiec2700127002security
What is the ISO 27001 ISMS scope?
ISMS Scope is defined based on the physical and logical boundary of the organization pursuing certification. The information system that organizations consider critical and want to secure is defined with the scope. Any interrelating process is part of the scope.
Example Human Resource is responsible for maintaining the training records of all individuals hired for the personnel and confidential personnel information.
The HR department will be within the scope of the Audit. Based on the scope, the Statement of Applicability and Controls checklist needs to be documented and implemented. 3rd party audit will certify to the said scope.
Can a startup have an ISO 27001 certification?
Yes, certification is not tied to the duration of Organizations’ existence. Any organization having defined processes, meeting the compliance requirements of ISO 27001, and adequate resources ( personnel & finance) for implementation can achieve certification.
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