A budget provides a financial roadmap essential for making wise decisions over a defined period. ISO certifications can provide ROI and scaling opportunities for organisations that invest properly. The cost of ISO 27001 certifications can seem high when looking at the top-level figures, but that is quickly recouped for diligent businesses.

This is because ISO 27001 is required to protect ISMS and ensure that data is never exposed to malicious activity. With 37% of large organisations having experienced a cyber security breach in the past 12 months, the rationale for being ISO certified speaks for itself. However, we understand that the financial side of things requires clarification for many who want to be mindful of budgets without cutting corners.

Keep on reading this blog to find out how much the implementation of ISO 27001 will cost in 2023.

What Factors Affect The Cost of ISO 27001 Implementation?

Implementing ISO 27001 requires alignment of a company’s ISMS with the controls outlined by ISO 27001. This means the process, and in-turn associate costs, will differ between businesses.

The factors that affect the cost of configuring an ISMS to be ISO compliant are as follows:

  • Size of the business – The number of employees, scale of operations, and operating regions will all impact what the ISMS is exposed to.
  • Maturity of the company – The difference between having already established processes and starting from scratch can cost money as there will be different requirements for both. Older businesses can also bring their own issues as changing systems ingrained in history require additional work.
  • Access to knowledge – The right people to work on the ISO implementation is essential for its success. Whether this is an in-house expert or an agency, such as our own, you must have the know-how to stop costs from spiralling.
  • Available time – The time you have carved out for the implementation project will also affect the costs. It is best to hit the task with a structured timeline and dedicated time to ensure it can run smoothly.

No matter the factors that affect a business, this compliance standard can be implemented by anyone, which is one of the benefits. With advantages including being searchable online if you are ISO 27001 certified, improved brand image and ROI opportunities, we think you will agree it is worth investing in if you can afford to do so.

What Costs Go Into ISO 27001 Implementation?

What Costs Go Into ISO 27001 Implementation?

If you have read our article about what ISO 27001 is, you will know it can take up to a year for some companies to achieve ISO certification. Below, we have broken down what costs you will need to plan for the implementation phases of the application, as planning your spend throughout this long period is essential for organisations.

The costs included below will differ depending on the resources you choose to use, such as existing team members of outsourcing support, but the prices are all relevant to the investment that a business is making.

Getting Ready Costs

The first step of how to get ISO certification includes preparing, which does have some financial aspects attached to it. As you understand, when considering the number of requirements that ISO 27001 has, investment should be made to improve the chances of success.

You can expect to spend anywhere from £5,000 to £30,000, depending on the size of the organisation for this phase. This includes the following:

  • Gap analysis conduction and report deciphering
  • Policy planning
  • Risk management planning
  • Internal audits in relation to ISO controls
  • Consulting fees and reporting

Implementation of Processes

Next is spending on the processes and training that will embed ISO 27001 into your company’s ISMS. The points included in this section demonstrate how Cyber Essentials is not the same as ISO 27001 as the implementation requires a much deeper level of planning with ISO standards as more control measures must be considered.

One of the considerations for ISO 27001 is people. This means that training costs should be considered to ensure every stakeholder can work whilst being ISO compliant. This can range from around £500 to £1000 annually but will be higher for larger organisations or a more segmented approach.

The cost of ongoing management needs to be considered during the implementation phase as the start of either an employee contract or third-party agreement will need to commence. This cost is hard to define, but we can confirm that an ISO auditor’s average salary is £45,888, which provides an indication.

Professional support should also be chosen to implement the ISMS infrastructure, even if ongoing help is not planned. Having a solid foundation to build upon is essential for ISO, so this quickly pays for itself. Depending on company size and maturity, this can cost anything from £1000 to £10,000 again.

Audit Fees

Audit fees are also an implementation cost, as without considering them, compliance cannot be achieved. We consider every stage of the process to achieve ISO to be considered implementation. Auditing is also essential to budget for as it is one way to stop ISO from becoming outdated. This is because it requires an assessment of the latest risks and trends at every stage.

The cost of an ISO certification audit depends on the company’s size. The estimated fees range from £6,250 for one employee to £33,750 for 6800 people.

Factors such as the length of audit time and the amount of information available will impact this, which is why it’s always best to be prepared. These prices will remain standard across the industry, but it is always worth gaining quotes from a few external auditors to ensure you get the best value. This cost also covers stage one and stage two, which need to be passed before certification is awarded.

What Costs Need To Be Considered Once ISO 27001 Is Obtained?

Being awarded ISO 27001 status after a successful implementation is just the start of the work, as companies must then undergo continual audits to ensure everything is working as it should be. The cost for these audits can start from £1000 each time and again are affected by the method of editing, who conducts it, and any work that is needed to fix issues that may have arisen.

ISO also required an annual surveillance audit at the end of years one and two. This should be straightforward as long as processes have been maintained, but it will require additional work if some elements have fallen out of sync with current business needs.

Because ISO 27001 also considers GDPR and other business-critical elements, ROI can be experienced, and other processes are also made more efficient via ongoing ISO maintenance.

What Are the Benefits of Investing Properly in ISO Implementation?

What Are the Benefits of Investing Properly in ISO Implementation?

By taking the time to efficiently implement ISO requirements, companies will get so much more out of their compliance certificate.

As well as ISMS running more smoothly, other benefits also include growth in sales potential, access to new customers, more resilience against wider cyber security threats, and lessened risk when it comes to risk-associated fees.

Spending the right money on implementation also ensures that the audits are passed the first time, eliminating the need to spend on additional measures or having to repeat processes you have already paid for.

How Can Creative Networks Support With ISO 27001?

If you need support with any implementation phases, our ISO 27001 services are perfect for you. We have experience working with various budgets across various sectors and with companies of differing ISMS maturity, meaning no challenge is too much for us!

Contact our team to learn more.

Enjoyed this read? Check out some of our other blogs below:

Should I Get Soc 2 or ISO 27001?

ISO 9001 vs ISO 27001: Which Is Right for Your Business?

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