How much does it cost for ISO 27001 Certification?
Whether you’re running a business or working for one, it’s always essential to follow best practices to keep yourself and your company secure.
Nowadays, there are many different standards in the cybersecurity field.
Still, none is more well-known than ISO 27001, meaning that this certification holds businesses accountable for their security practices.
Keep reading to learn more about how much an ISO 27001 Certification costs and how it might be able to benefit your organization.
How much does it cost to implement ISO 27001?
As the world becomes increasingly connected, and electronic data is transferred through the internet, protecting our information is crucial.
There are almost 4 billion people online and a burgeoning work-from-home economy, so the need for security will become more outstanding. Meeting the standards set by ISO 27001 often comes down to how much a company can afford, with many companies unable to afford this certification.
All ISO 27001 certification costs are not equal, but each company has different fees.
The cost of your certificate will depend on the following:
- How big is your business?
- How many certification criteria do you decide to use for your company’s risk level (high-risk industries come with added costs)
- Your information security management system’s degree of complexity (ISMS)
The cost of acquiring ISO certification ranges from $5,000 to $35,000. Small companies with under 50 employees typically see three to six audit days, costing from $5,000 to $10,000. The average per audit day cost is around $1,500, with a total cost of about $1,500. So the whole process of getting certified can be anywhere from $5,000 to $75,000, excluding employee time spent preparing for the audits.
How much does it cost to implement ISO 27001?
Paying for implementing ISO 27001 can cost you a significant amount of money.
For those considering this, it’s important to note that prices vary from a few hundred pounds to buy the template toolkit and ten thousand to hire external help.
Is ISO 27001 Worth the Price?
Yes, ISO 27001 certification has multiple benefits that can offset their initial costs:
A more security-conscious outlook: Certificate training doesn’t have to be a tedious, ten-hour process. The benefits can be quickly implemented by the company’s IT team and the whole organization. Instructor certification makes employees confident about the use of security for both confidential and non-sensitive data, furthering better collaboration and respect from everyone involved in the process.
Connect to potential new clients: Businesses are getting more and more security-focused. As a result, accessibility to extra-lawful contracts has increased. You’ll need to show your compliance certifications if you want access to those clients without meeting their heightened standards.
Being exempt from paying fines and violation costs: Choosing a security partner is no easy task. To ensure you make the right decision, factor in long-term value. Your success is important to us. Therefore, we strive to put our best foot forward. With certification and other safeguards in place, we can provide valuable peace of mind for your business and possibly for you.
Increase in sales speed: Complying with regulations can make it easier to reach new customers, particularly when you’re in a competitive market. When you can make more sales faster, your sales cycle will end up shorter.
Can You Reduce the ISO 27001 Costs?
Before investing in getting certified, make sure to consider these three primary methods of reducing costs:
- Set up and execute tasks without outside support.
Figure out what you’ll need to develop a solid ISMS and include initiatives like setting up a risk assessment, creating policies, establishing security metrics, and handling an internal audit. Remember that it cannot take everything internally.
- Prepare fewer presentations with templates.
Every company must manage its documents and processes to comply with regulations, which can often lead to a lot of extra effort for little value. With a gap analysis, you can focus on perfecting the fundamentals beyond standards.
- Save time and resources by not having to reinvent the wheel.
Creating everything from scratch is difficult, time-consuming, and labor-intensive. Our team will help you create a beautiful website in only a few hours while providing their expertise where your organization lacks it.
Conclusion
If you’re looking to invest in a certification program to help you achieve your business goals, it’s essential to understand how much it will cost. These programs can range from inexpensive options that offer limited benefits to more expensive solutions that provide more fantastic rewards. As long as the certification program you choose offers the necessary training and resources, be sure to factor in the cost of enrolling and ongoing fees.
Ready to Streamline Compliance?
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