ISO 27001 is a globally recognised standard for managing information security within an organisation. It sets out a comprehensive framework of policies and procedures that organisations can adopt to establish, implement, maintain, and enhance their information security management systems (ISMS).
The ISO 27001 certification is an official acknowledgement that an organisation has successfully met the requirements outlined in the ISO 27001 standard. This certification serves as evidence that the organisation has implemented a systematic and disciplined approach to safeguarding its information assets, encompassing the protection of information confidentiality, integrity, and availability.
By obtaining the ISO 27001 certification, an organisation demonstrates its commitment to effectively managing information security risks, implementing appropriate security controls, and continually improving its security practices. It signifies that the organisation has undergone rigorous assessments, audits, and evaluations by independent certification bodies to validate its compliance with the ISO 27001 standard.
This is an intensive but worthwhile process that holds significant value not only in ensuring that, as an organisation, you are proactive in ensuring your IT landscapes safety but it also highlights to stakeholders, customers and other people invested in your organisation that you are at the forefront of safety, thus increasing your reputation as an organisation or brand. At Core to Cloud, we covered in a podcast the importance of securing your whole IT landscape, highlighting the importance of this certification.
But what will it cost?
We all know that with any implementation regarding cyber security, it is important to consider the cost, use and need of such an investment, and the ISO 27001 certification needs to be executed in a way that supports your organisation rather than drains it of time, money and staff hours!
The first thing to note is that it is not a one price fits all scenario; this certification has a number of factors that can influence and impact the overall end price of obtaining the status of ISO 27001 certified as an organisation. An organisation’s specific circumstances and characteristics play a significant role in determining the overall cost.
Here are some factors that can influence the cost at an organisational level:
- Organization Size and Complexity
An organisation’s size and overall landscape can impact the certification’s cost. For example, the larger the organisation, the longer it may take to do audits and the more complex the systems, the same will apply. Also, if there are multiple sites or units within the organisation, this can have an impact.
- Current landscape and complexity of IT processes
The cost of obtaining ISO 27001 certification can be influenced by the organisation’s current information security practices and level of preparedness. The cost is likely to be lower if the organisation has already established robust security measures and closely represents and aligns with the ISO 27001 requirements.
- Internal resources and expertise
There is a need to ensure that those within the process are skilled and knowledgeable enough to understand the needs within each stage of the certification. This needs to be a key marker in preparing for this certification, and an organisation needs to have the correct level of expertise in place, whether external or internal.
- The scope of the ISMS (Information Management System)
The cost of ISO 27001 certification can be influenced by the scope of certification, which defines the breadth of an organisation’s operations and information assets covered by the certification. Organisations with a wider scope, encompassing multiple business units or diverse product lines, may necessitate more extensive efforts in implementing and certifying each area. This can require additional time, resources, and expertise, ultimately leading to higher costs associated with achieving ISO 27001 certification.
This is a broad overview of the different aspects from an organisational level that can impact the cost of this certification. There are more factors that can also change the overall cost of the certification, which link to the certification itself. These cover areas such as audit, surveillance, and recertification fees, to name a few.
Before embarking on this process, many organisations invest in a gap analysis and initial assessment to identify their current level of compliance with the certification core areas. There is also a training and awareness requirement which depends on the organisation’s side to ensure that everyone is trained within the core aspects of the certification and that the training requirements are met.
Other areas that organisations may not be aware of that cost in relation to the certification itself is the implementation and creation of the necessary paperwork associated with the different stages of the certification, this is a cost that is often overlooked!
But really, what will it cost?
There is a lot to consider regarding the final cost for this certification, as it can depend on many factors, including size and the preparedness and scope of your current organisation’s IT landscape. Alongside this, there is a fondness for organisations to try and DIY the process without the correct expertise, which can be incredibly costly down the line, as well as causing major stalls in the certification process.
For the certification itself for a small business, you should expect to pay around 6-8 thousand pounds as a standard or typical amount for your initial year, then you, of course, have your ongoing yearly costs to maintain the certification. Then in comparison, a medium-sized business could be 12-18 thousand pounds as the typical cost, again with the yearly costs that are necessary to stay accredited. This is before any other cost is taken into account.
At Core to Cloud, we want to demystify this whole process and ensure that you and your organisation receive all of the benefits of this certification without falling foul of any additional costs or issues within your certification.
There is a lot of information out there regarding what you need and how you should do it, but if you want a no-nonsense conversation and the opportunity to be supported in your process of gaining an ISO 27001 certification, we have got you covered. As you know, at Core to Cloud, we talk the talk and walk the walk, and you can discover our journey to ISO accreditation.
Need help? A member of our team is waiting to talk through this process with you.