Profits and growth are always top of mind for executives when considering new projects. It’s understandable – any resources and money invested in a venture should result in positive returns and contribute to the company’s bottom line.
One such project that may raise concerns about ROI is the implementation of ISO 27001. Many companies view it as a necessary expense for regulatory compliance. Yes, there are upfront costs, but the benefits of this project extend far beyond meeting legal requirements.
By enlisting the expertise of a qualified ISO 27001 consultant, you can strategically maximize your ROI and see significant financial gains for your company.
Let’s explore how consulting services can help you make ISO 27001 implementation a valuable investment for your organization.
Why are Companies Turning to ISO 27001?
Microsoft, Apple, Intel, Amazon, and Google – what do these companies have in common? Apart from being some of the most successful and well-known brands in the world, they are all ISO 27001 certified.
This is no coincidence—these companies understand the value of information security and its role in their bottom lines.
Cyber security threats and data breaches are costly not only in terms of financial losses but also in terms of reputation damage and loss of customer trust.
According to IT Governance USA, 6,845,908,997 records were breached in 2,741 publicly disclosed incidents from Nov-2023 to April 2024.
The average cost of a data breach in the US is $9.48 million, which can quickly add up for any company.
By implementing ISO 27001, an organization can mitigate these risks and potentially save millions of dollars in damages.
How Information Security Maximizes Profits Your Business?
Apart from mitigating risks and potential losses, ISO 27001 also offers benefits in terms of increasing profits for your business. Here’s how:
Avoid Data Breaches and Penalties
Sensitive information, whether it’s customer data or company trade secrets, is always at risk of being compromised. Internet-based attacks, such as hacking and phishing, are becoming more sophisticated every day.
A data breach can result in financial losses, legal penalties, and damage to reputation. For example, you may have to pay hefty fines for violating regulatory requirements, face lawsuits from affected customers, and suffer a loss of trust and credibility in the market.
By implementing ISO 27001, you can identify potential vulnerabilities and implement controls to prevent data breaches. This not only protects your company’s assets but also saves you from costly penalties and damage control efforts.
Increase Trust and Credibility to Win Customers
In today’s digital age, data privacy is a top concern for consumers. With increasing cases of data breaches, customers are becoming more cautious about sharing their personal information with businesses.
Customers want to know that their data is safe and secure and that they can trust your company with it. They would likely choose a certified organization over a non-certified one, as ISO 27001 certification provides a level of assurance and credibility.
Your company’s ISO 27001 certification shows that you take information security seriously and have measures in place to protect your customers’ sensitive data. This can increase trust and credibility with both new and existing customers, potentially leading to increased sales and customer retention.
Improve Infrastructure and Reduce Operational Costs
An ISO 27001 consultant can help you identify areas of improvement in your company’s infrastructure, processes, and procedures. By implementing ISO 27001, your company can establish a robust information security management system (ISMS) that streamlines processes and improves overall efficiency.
You can also save on operational costs by eliminating potential vulnerabilities and reducing the risk of data breaches. A more secure infrastructure means fewer incidents and less downtime, resulting in cost savings for your business. The time and resources saved can be reinvested into other areas of your business, further contributing to profitability.
Meet Regulatory and Legal Requirements
Implementing ISO 27001 helps protect your company from cyber threats and ensures compliance with regulatory and legal requirements.
Many industries, such as finance, healthcare, and government, have strict regulations for information security. Failure to comply can result in hefty fines and other legal consequences. When your company is ISO 27001 certified, it demonstrates that you have taken the necessary steps to comply with these requirements. This protects your company from penalties and avoids potential disruptions to business operations.
Gain Competitive Advantage
Achieving ISO 27001 certification can give your company a competitive edge in the market. It shows that you have made a strategic investment in protecting your organization’s assets and data, giving you an advantage over non-certified competitors.
Many companies include their ISO 27001 certification in marketing materials and use it as a differentiator to attract new customers. If your competitors are not certified, having this certification can be a significant selling point for your business. More contracts and customers mean increased profits for your company.
How to Maximize ROI with ISO 27001 Consulting?
Implementing ISO 27001 is a complex process that requires expertise, time, and resources. To ensure your company receives maximum ROI from this investment, consider hiring an ISO 27001 consultant.
If you’re wondering if the cost of consulting is worth it, consider the potential costs and losses your company can face from data breaches and non-compliance with regulatory requirements. The cost of implementing ISO 27001 is a fraction of these potential losses.
An ISO 27001 consultant can guide you through the entire certification process, from gap analysis to implementation and maintenance. They can also provide training and support to develop internal capabilities for sustained compliance and continuous improvement.
Hiring a consultant may be more cost-effective for small and medium-sized businesses than trying to implement ISO 27001 alone. They have the necessary expertise and experience to help you achieve certification efficiently and effectively, saving your company time and resources.
Their guidance can ensure your company receives the maximum benefits and ROI from ISO 27001 implementation. When your company is certified, the costs of consulting will be offset by increased profits and cost savings.
How to Choose the Right ISO 27001 Consulting Firm?
Your choice of ISO 27001 consulting firm can significantly impact the success and ROI of your certification.
Your primary considerations should be the consulting firm’s experience, expertise, and reputation. If they have a track record of successful ISO 27001 certifications, they are more likely to be able to help your company achieve certification.
Sync Resource is a highly reputable ISO 27001 consulting firm with experise in helping companies achieve certification. If you are considering implementing ISO 27001, we can guide you through the entire process and help your company maximize ROI from this investment.
Contact us to learn more about our services and how we can help your organization achieve ISO 27001 certification.