For businesses that rely on collecting and processing large amounts of user data, implementing specific privacy and security measures is crucial. This is the case for your Software as a Service (SaaS) company, which needs to gain and maintain users’ trust in how you handle their data, especially as more people are becoming conscious of their online footprints.
Compliance for SaaS companies is more of a necessity rather than a perk. Your best option for navigating the complexity of compliance regulations is to stick to internationally recognized certifications like ISO 27001. While ISO certificates hold companies to a much higher standard than lesser-known certificates, the ISO 27001 certification cost is balanced by the structural and reputational benefits it brings to your organization.
Is ISO 27001 Certification Worth It?
What are the benefits of ISO 27001 certification for an organization?
For one, the ISO 27001 is an internationally recognized framework for security effectiveness. Both consumers and prospective business partners trust it because it shows your company went through the necessary steps to bolster its security defenses against potential risks.
Obtaining the ISO certification is well justified despite the initial investment of time and money. It enables your SaaS business to stand out from the competition, showing you take data security and privacy very seriously.
Additionally, implementing ISO 27001 security controls generates a domino effect that bolsters protection organization-wide, making you more ready to face new cyber threats. These benefits go beyond the ability to advertise your ISO compliance and help guide you toward a security-oriented business model.
Is ISO 27001 Outdated?
The ISO 27001 remains one of the world’s leading information security frameworks. To maintain such status, the ISO standard receives regular updates and amendments that companies must meet to retain their certification.
While it remains highly relevant in digital security, it’s important to be aware of the ISO 27001 advantages and disadvantages before committing to the certification.
ISO 27001:2022 is the latest version of certification requirements, and companies have until October 2025 to meet the new standards if they wish to remain certified. This highlights the potential drawbacks of strictly following an external security protocol rather than constructing your own from scratch.
For one, the ISO 27001 certification is valid for only three years. Afterward, you’ll need to seek recertification at regular intervals. This can prove costly in the long term, especially considering the framework’s limited flexibility and need for ongoing maintenance.
What Is ISO 27001 Intended to Ensure?
ISO 27001 certification targets an organization’s information security management system (ISMS). It regulates how you collect, process, monitor, transfer, and store data within your business, emphasizing data security, privacy, and integrity.
One reason why ISO 27001 certification is important is because internal processes are kept confidential for security reasons. On the other hand, becoming ISO certified lets you broadcast your systems are privacy- and security-oriented without having to disclose critical structural information.
Also, because ISO 27001 requires recertification at regular intervals, your business won’t fall behind in updating its information security frameworks. An ISO-compliant SaaS business shows it actively cares about user security and privacy.
Do I Need ISO 27001 Certification?
Unlike CCPA, HIPAA, or GDPR, being ISO 27001 certified isn’t a legal requirement for commercial organizations — it’s more similar to SOC 2 in that regard. You’re well within your rights to structure your internal security according to whichever standards you see fit.
Still, becoming ISO-certified can be a shortcut to industry credibility and customer trust. That’s because the ISO organization is widely trusted for its strict standards regarding awarding certifications. With ISO 27001 certification, you’re showcasing that your business was able to meet those standards after a rigorous audit.
Additionally, the ISO is a nongovernmental international organization with representatives from all member countries. This means the standards required in an ISO framework aren’t set according to any one government but by the consensus of top industry experts worldwide.
Can Trava Help Me Become ISO 27001 Ready?
With over 100 security controls and stringent requirements, completing an ISO 27001 certification can be a long and daunting process. Why not let the trusted compliance experts at Trava Security help you?
With our dependable hands-off compliance service, we’ll handle all your ISO compliance requirements. All you need to do is give us a call!