ISO 27001 certification: strategic value

I have been working in Ticino for almost ten years and I can confirm, from my point of view, that in the Ticino business scene the ISO 27001 certification of the information security management system, of the Cybersecurity And of the privacy is increasingly seen as a 'strategic asset'.
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Gone are the days when I heard entrepreneurs and managers tell me that applying the ISO 27001 standard had its advantages, but that it produced too much red tape within the organization and plastered business operations.

Now, also thanks to the obligations imposed by the new regulations and regulations on personal data protection, cybersecurity and operational resilience, the application of an adequate management system and ISO 27001 certification have become a 'necessary'.

The adoption of solid strategies of governance and compliance in the field of IT security and data protection, it represents today one of the most powerful levers both to guarantee data protection and the resilience of the organization, and to demonstrate its reliability to the market and increase business reputation.

Here's how ISO 27001 certification translates into concrete strategic value and what are the steps to obtain it.
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1. Competitive advantage

The most immediate value of ISO 27001 is its ability to act as a business accelerator.

• Differentiation on the market: Being able to demonstrate certified cybersecurity and data protection management sets the company apart from competitors, being able to 'test' the security application, not just 'promise it'.
• Mandatory requirement: increasingly, laws and regulations, public administration calls and the needs of large private companies place ISO 27001 certification as a necessary requirement. Not having it means not complying with regulations and/or losing business opportunities.
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2. Increased confidence

The most valuable currency in the digital economy and in the increasingly interconnected customer-supplier chain is trust. Obtaining ISO 27001 certification sends a clear message to customers and stakeholders: “The company guarantees data protection, cybersecurity and operational resilience with the utmost seriousness, according to international standards.” This strengthens business reputation and reduces the need for customers to carry out demanding and costly supplier evaluations and audits.
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3. Reducing risks

Many companies see managing cybersecurity as a cost, rather than an investment. However, the cost of non-security is much higher. ISO 27001 requires a risk-based approach. This makes it possible to choose and apply the most appropriate security measures, capable of preventing accidents and optimizing investments, which are related to the different levels of risks.

Security pays: A recent study published by All Things Being ISOs (thank you Dante Pollini for reporting it) estimated the financial impact of the ISO 27001 certification:

• Fewer accidents: ISO 27001 certified companies report 30% to 55% fewer security incidents than non-certified competitors.
• Millionaire savings: in the event of a violation, the savings are very high (the study carried out in the UK indicated an estimated average savings of about 1.2 million pounds) thanks to more effective response procedures.
• Reaction speed: Structured companies detect violations on average 4 weeks before others, drastically limiting damage.
• Insurance benefits: many companies offer reductions of up to 20% on policy premiums Cyber Risk for ISO 27001 certified companies.

These numbers show that the adoption of an adequate governance of computer security and data protection and, in addition, the validation of security technologies applied by specialized teams, through activities of Vulnerability Assessment and Penetration Test, constitute a real “insurance policy” on business assets.
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4. How to obtain ISO 27001 certification (4 key steps)

Many companies fear that the ISO 27001 certification project is too long and complex. In reality, with the right expertise, the design process becomes clear and easy. The main phases of the ISO 27001 certification project are:
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1. Gap analysis: we analyze the current state of the company with respect to the requirements of the standard to understand what is missing and plan interventions.
2. Design and implementation: security policies and procedures are defined, risk analysis is carried out and the necessary controls (technical and organizational) are implemented.
3. Training and internal auditing: to ensure the conscious application of security procedures and measures, staff are trained and trained; then, before visiting the certification body, an internal audit is carried out to ensure that everything works as expected and, if necessary, to make the last adjustments to the management system.
4. Certification visit: an independent third party must verify the compliance of the management system with the requirements of the ISO 27001 standard. If the result of the verification is positive, the ISO 27001 certificate is issued (valid for 3 years, with annual surveillance checks).
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Conclusion: cybersecurity as a strategic investment

Adopting the ISO 27001 standard means moving from reactive and unorganized security management to a proactive and structured one. The return on investment in security (Return on Security Investment) is measured not only on the reduction of operational risks and financial losses, but also on the reduction of insurance costs, on the growth of long-term business resilience, on the increase of reputation and on the development of new business opportunities.

The question for entrepreneurs is no longer “How much does certification cost?” , but “How much will it cost us not to have it?”.

In recent years we have supported numerous Ticino companies, belonging to different economic sectors, in the ISO 27001 certification project and new certification projects and consulting services are still underway for the maintenance of the already certified management system.

For some years now, given the growth of interest on the part of some Ticino organizations, sometimes to meet legal or regulatory requirements, we have been providing our customers with the external service of CISO as a service, holding the corporate role of head of Information Security with our specialized consultants with many years of experience.

If you want to assess the level of appropriateness of your IT security management and data protection system, if you want to start the path to ISO 27001 certification, if you want to adequately manage risks and transform security into a competitive advantage for your company, carry out a Cybersecurity Assessment and find out how we can help you with our services of governance, risk & compliance