ISO 27001 is a globally recognized security framework that assesses how an organization’s information security management system (ISMS) protects its data. Getting an ISO 27001 certification can demonstrate your organization's strong information security posture to prospects, customers, partners, and other stakeholders. 

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In this post, we’ll cover the basics of ISO 27001 certification, who needs to be ISO 27001 certified, and how to determine if an ISO 27001 is right for your business. 

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What is ISO 27001 certification? 

The ISO 27001 standard was co-created by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) to help businesses design secure systems and demonstrate their security posture via a certification process. ISO 27001 focuses on a company’s information security management system (ISMS), which is a set of policies and procedures that outline how an organization’s processes help protect its data. 

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To get an ISO 27001 certification, you’ll need to undergo an audit that confirms you’ve met the compliance requirements and addressed potential risks to your system. The standard is made up of 10 clauses and 114 controls divided into 14 categories that represent possible security measures an organization can consider based on its needs and risks. While you are required to comply with all 10 clauses, you don’t need to implement the full list of the 114  ISO 27001 controls to get certified. 

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Who needs ISO 27001? ‍

The purpose of ISO 27001 certification is to show your customers and prospects that security is a top priority for your business. While ISO 27001 isn’t legally required, your customers may need you to be certified before they can do business with you. ISO 27001 is relevant for organizations that handle or manage their customer’s data and is especially common among SaaS providers, data storage solutions, data processing and analytics tools, or other data-service platforms. 

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You’ll also need to consider where your customers are located when determining if you need an ISO 27001 certification. SOC 2 is a compliance standard similar to ISO 27001 used primarily in North America with a growing presence internationally, while ISO 27001 is an international standard used around the world. If you work with customers outside of North America, ISO 27001 will likely be important to your clients. 

Many companies decide they need both a SOC 2 and an ISO 27001 certification if they have customers located in North America and other countries around the globe. It is common that organizations seeking compliance in both standards undergo an audit at the same time given that many of the controls overlap.  

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Which industries need an ISO 27001 certification?

ISO 27001 helps organizations keep their sensitive information safe. Industries that are most likely to need an ISO 27001 based on the sensitive data they manage include:

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• Information technology
• Healthcare
• Finance
• Consulting
• Telecom

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Information technology

Data is an important commodity for IT and software companies, and in many cases, this data is highly sensitive. For organizations in this industry, it’s critical they keep their data secure and confidential to maintain business operations and uphold their brand reputation. For this reason, being ISO 27001 compliant is very common among these types of businesses.

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Finance

Security is a big concern in the financial industry, especially given that currency today is largely digital. Something as small as a doctored formula or data deletion can lead to a loss of millions of dollars. Given that the finance industry is a common target for cybercrime, ISO 27001 compliance helps organizations stay secure and maintain consumer trust.

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Healthcare

Nearly all data in the healthcare industry is highly sensitive. Healthcare organizations in the US are required to follow HIPAA laws around healthcare data. For international healthcare organizations, ISO 27001 allows them to maintain and demonstrate their security.

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Telecom

The telecom industry is a primary data transporter and, as a result, is often a target for cybercriminals. For that reason, security is critical in the telecom industry and is often demonstrated with an ISO 27001 certification.

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Who benefits from ISO 27001 compliance?

‍ISO 27001 compliance benefits your organization in various ways, including:

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• Positioning your business as a stronger competitor so you can win more customers.
• Protecting your intellectual property and brand reputation.
• Retaining more of your customers.
• Saving time and money with more efficient processes.
• Preventing a data breach and avoiding the associated costs that come with it.

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You customers also benefit significantly from your ISO 27001 compliance in the following ways:

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• Being assured that their data will be managed safely and securely.
• Lowering the risk of their data and their end-users’ data being exposed in a data breach.
• Streamlining the onboarding process of bringing you on as a vendor.
• Meeting their own regulatory commitments if your service is critical to their operations. 

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Simplify your ISO 27001 process with Vanta 

With Vanta’s trust management platform, you can streamline your ISO 27001 certification process. Here’s what an automated ISO 27001 can look like: 

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• Connect your infrastructure to the Vanta platform with our 300+ built-in integrations.
• Assess your risk holistically from one unified view.
• Identify areas of non-compliance with in-platform notifications.
• Get a checklist of actions to help you make the needed changes. 
• Automate evidence collection and centralize all your documents in one place.
• Find a Vanta-vetted auditor within the platform. 
• Complete your ISO 27001 certification in half the time. 

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By using Vanta, you can save your business valuable time and money during your ISO 27001 audit process. Learn how you can get your ISO 27001 certification faster by requesting a demo. 

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