Did you know that cybercrime costs Australian businesses an estimated $29 billion annually? That’s a staggering amount, and it’s not just about money —it’s about trust, data integrity, and business survival.
Intellectual property breaches, online theft, manipulation, and cyber-attacks are now commonplace. As the level of security threats keeps increasing, the protection of sensitive data becomes of paramount importance. If not given proper attention, any leniency with data security can have fatal consequences for you and your company.
Many companies globally are still not aware of the various benefits of the ISO 27001 certification and suffer due to that. Let’s delve into the several benefits that this certification brings to the table.
Top 5 Benefits of ISO 27001 Certification in Australia:
The ISO 27001 standard is an internationally accepted, comprehensive, and auditable standard that focuses on providing information security for organizations, irrespective of their size or industry. It offers a complete guide for companies to create their own Information Security Management Systems (ISMS).
As every company’s data is unique, each company requires a tailor-made solution. ISO 27001 allows that. Its framework can be modified as per an organization’s unique requirements. This allows them to identify and treat data security threats according to their respective tolerance and appetite.
Let’s take a look at some of the major benefits of ISO 27001 certification for Australian companies.
1. Protection Against Security Risks
The biggest reason to obtain the ISO 27001 certification is that it helps to identify and mitigate any security risks. It helps in handling the data breaches created by internal actors as well as the cybercriminals trying to break into the organization’s data.
The framework of ISO 27001 ensures that the organization has the necessary tools to strengthen itself across the three pillars of information security – people, processes, and technology.
In essence, organizations can use this standard to determine which policies they need to document to protect their data. Additionally, the business can also select the relevant technologies that can help with staff training and data protection to prevent data-related errors.
2. Prevention from Paying Regulatory Fines:
By obtaining the ISO 27001 certification in Australia, companies can avoid severe fines linked to non-compliance with data protection regulations. The Privacy Act of 1988, which is the main piece of Australian legislation pertaining to the protection of personal information, is one of the relevant data protection laws. The law focuses on the collection, usage, and disclosure of personal information in the private and public sectors.
Using the best practice approach outlined in ISO 27001, organizations can comply with several industry-specific regulations. The standard framework is designed in such a way that companies can use it to become and stay compliant.
3. Improved Credibility and Brand Image:
By achieving ISO 27001 compliance, organizations can show their stakeholders that they take information security seriously. Additionally,
compliance with this standard boosts revenue and leads to a substantial increase in business opportunities as a result of improvement in the organization’s standing with the existing clients.
Globally, cyber risks are on the rise and have the potential to severely harm an organization’s reputation. Having an Information Security Management System (ISMS) certified by ISO 27001 keeps the company safe and out of the news.
4. Better Organization and Concentration:
As organizations grow, people find it more difficult to remember their obligations. This results in information security-related errors and breaches by internal actors.
With the help of ISO 27001, organizations can create a flexible strategy to ensure that everyone’s attention is kept on information security. Organizations must also perform risk assessments yearly in accordance with ISO 27001 to make any necessary adjustments.
5. Retaining Existing Customers and Acquiring New Ones
Data breach and cyber security risks are constantly rising. Stakeholders are primarily concerned about how their company’s sensitive information is utilized, maintained, and safeguarded.
By demonstrating their ISO 27001 certifications, companies can prove their commitment to upholding the highest information security standards. It builds trust among the existing customers and helps in retaining them.
Moreover, by obtaining the internationally accredited ISO 27001 certification, new clients understand that the organization has a demonstrable information security management system in place, and thus, helps in winning new business.
Final Thoughts:
As per the Department of Home Affairs and Stay Smart Online Australia, “A new cybercrime is reported every 10 minutes.” In order to protect your business from these cyber-attacks, you need to get your hands on the ISO 27001 certification at the earliest.
ISO 27001 isn’t just a checkbox; it’s a beacon of trust. It’s the promise that your data is well-guarded against cyber-attackers. So, whether you’re a tech startup or an established enterprise, make sure that you are ISO 27001-certified.
We at ISORUS are one of the leading ISO consultancy in Australia and can help you get ISO certified. We have immense experience with ISO certifications and our professionals can help you with everything from a gap analysis to an audit as well as a readiness review. So, why wait? Get in touch with our expert ISO consultants today.
