Blog

As there becomes an increasing level of security threats, an ever-emerging concern for most business sectors online theft, intellectual property breach, manipulation, and cyber-attacks are now commonplace. If given proper attention, a company is apt to see negative financial consequences. At the same time, their brand image will be shattered as well. According to the Australian Cyber Security Centre, more than 164 cybercrimes that take place on a regular basis. The increasing threat level can become a lethal threat for small and medium-sized companies.  To secure the intellectual property from unknown cyber-attacks, companies need to obtain the ISO 27001 certification. The internationally recognised standard provides a strict framework for information security management for business enterprises. The auditable global standard offers a systematic approach to secure data on different organisational aspects via certain processes, technologies, and human resources. The main aim is to provide an effective risk management protocol that will detect third-party manipulation and assess the severity to procure defensive measures. Unfortunately, many companies are still unaware of the benefits and suffer from disruptions, which produce irreputable damages.

What advantages can a company gain with the help of the ISO 27001 certification?

1.Protection of reputation

A company’s sustainable growth depends significantly on the reputation it has gradually established over the years. Data theft or infringement can harshly impacta brand’s reputation. ISO 27001 enables an organisation to calculate probable and potential security theft factors, which are frequent and can lead tocritical consequences. The system offered by ISO 27001 helps to strengthen security measures, modify existing policies, and encourage the management team to provide necessary training. It takes years to build a reputation, which can become vulnerable to both internal and external security risks. It is better to have a stringent safeguard in place to protecta company’s data.

2.No regulatory fines

More than 40% of all small and medium-sized firms in Australia, have been forcedto pay penalties based on neglecting regulatory norms. By installing a security system program on the ISO 27001 standard a company can successfully avoid government intervention followed by excessive fees. The standard educates companies about the importance of information security and how ongoing threats can affect a company’s approach toward the statutory norms. Therefore, not only can a company achieve 100% compliance but also minimises its financial expenditure.

3.Less need for internal audits

Since risk assessments and management are crucial to sustainability, companies often need more than two audits in a year. That increases the expenditure level and usually leaves companies with excessive costs they were not planning for. ISO 27001 saves both time and money by reducing the number of audits and review meetings. It also demands accountability and strong leadership from designing the framework to the implementation. This drives the management team to show promptness and proactiveness in mitigating all the flaws in the security system.

4.Improves the structure

The aim of the standard is to provide a complete guide to the security management system for intellectual properties. Accordingly, the standard offers a flexible system that forces every stakeholder to focus on information security tasks. Companies get to modify the structure and strengthen their focus on important annual tasks such as risk assessment and aggregation of their designed corrective measures. This way, both management and workforce get more responsibility to accomplish their tasks, which further increases their credibility and sharpens their skills.

5.Competitive advantage

By gaining the power of protecting your company’s content and intellectual assets, your company automatically gains a strong competitive advantage against its competitors. The risk assessment programs help the management team to calculate what possible measures could be taken versus what their competitors might take and how that can impact the customer segment. These are some of the key benefits offered by the ISO 27001 standard, which are essential for every company to sustain itself in the market. Since competition is tough among manufacturing brands, the ISO 27001 certification is a necessary strategic weapon.

To achieve the certification systematically while being compliant it’s recommended that you obtain through the help of expert opinions from a business like ComplianceHelp. The professionals offer premium packages that include everything from gap analysis to audit and readiness review. They are available both online and offline.