What Is an ISO 27001 Certification and Who Needs It?

What Is an ISO 27001 Certification and Who Needs It?

All that most companies want is to be able to continuously provide quality services while protecting both themselves and their clients. However, getting loyal clients will take time before they can trust what your business can offer or provide. An ISO 27001 certification will help boost this trust-building process.

What is ISO 27001?

ISO 27001 is the international standard implemented in the workplace for Information Security Management Systems (ISMS). It aims to secure confidentiality while providing information, as well as protect a company’s brand, private information, and assets, including information regarding its employees and clients.

An ISO 27001 certification proves useful when a company faces legal requirements or when certain disputes need to be settled. However, it is most useful as a preventive measure against cybercrime, personal data breaches, vandalism, terrorism, fire, other forms of damage, misuse, theft, and viral attacks.

Industries That Apply ISO 27001

Although it is often perceived as a standard that applies only to the IT industry, this is but half the story. Here are some of the organisations that implement ISO 27001 as a standard.

IT Companies

Of course, first on the list are IT companies. These include software developers, cloud companies, and IT support companies, among others. Acquiring an ISO 27001 certification increases credibility on their side, especially when trying to invite new clients. Being able to present a certification means that the company can secure their information.

In some cases, an ISO 27001 certification is used to trace responsibility when problems arise. Referring to the standard could point to what needs to be done and who should act. This way, those problems could be solved faster and, most likely, more efficiently. It is a common situation in fast-growing companies where the standards are not yet defined, but securing the proper situation would pay off.

Government Agencies

Government agencies all over the world handle a huge amount of sensitive information. With the priority of providing available information, implementing the ISO 27001 with a perfect reference with government approval, is highly beneficial. In some cases, the standard is also used to protect confidential information, such as in the military.

Financial Institutions

Financial companies like banks and insurance companies often secure an ISO 27001 certification for two reasons. First, as part of numerous laws and regulations, financial institutions need to protect the information of the company, its employees, and its clients. It should not be a hassle as most laws are already based on ISO 27001, making it a perfect reference for compliance.

Another reason is to save money by preventing unfortunate incidents from happening. Being one of the most advanced industries in terms of risk management, financial institutions tend to use preventive measures. This way, they spend less than when they would have to deal with the consequences of data breaches.

Healthcare and Pharmaceutical Industry

As in other industries, healthcare and pharmaceutical companies secure an ISO 27001 certification, although it is not obligatory. And this is primarily to protect data and information in their respective fields.

In pharmaceutical industries, pharmacovigilance regulations require safety data collection. They are also required to conduct specific studies that would help boost the credibility of their products while following strict regulatory and safety guidelines. Post-market studies are conducted by gathering data from potential clients via browsing data and device tracking. All these could be regulated with the ISO 27001 framework.

Telecommunication Firms and Internet Providers

Internet service providers and telecommunication companies need to protect a huge amount of data, as their clientele covers a big part of the population. Like all the other industries on this list, a telecom company usually obtains an ISO 27001 certification as a preventive measure.

In the end, no matter the industry, as long as data collection is done on a digital platform, an ISO certification will prove beneficial to a company. Ethically, compliance with the standard as laws require will only be secondary to its true purpose: to protect the company, its employees, and its clients.

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