Is ISO 27001 Expensive?
Lots of people when thinking about the costs of ISO 27001 certification automatically think that it is very expensive – they are wrong! They often think that their organisation will have to invest large amounts of money into their IT systems and equipment, this is simply not true. Especially when considering the possibility of using platforms like ISMS.online, where for a subscription fee, they will be provided with all of the tools and features that they will need in order to achieve ISO 27001 certification.
Another major factor that needs to be taken into account when considering the costs of ISO 27001 certification is how insignificant the costs are compared to the costs of a data breach, for example research has shown that the global average cost of a data breach in 2017 was $3.6 million.
What are the costs associated with ISO 27001?
When preparing your organisation’s budget for ISO 27001 certification, it is important that you don’t just take into account the costs associated with the implementation of the information security management system, but also make sure to take into account the costs for certification, e.g. the auditor’s fees.
You will need to bear in mind that the certification fee that is charged will depend on the certification body that you use, and the specific scope of your information security management system (for example the size of your organisation and the levels of risk associated).
If you can keep all of this in mind, then you should avoid any budget ‘surprises’.
Still unsure about the costs of ISO 27001?
Why not check out our business case builder whitepaper that we have created around the compelling Return on Investment that an ISMS can offer an organisation – Outlining how easily the benefits from the ISMS can outweigh the costs!