With increased cyber security threats in the modern world of business, it’s no wonder that more and more organisations are getting ISO 27001 certified and using managed IT services. It may be easier and cheaper than you think to get certified, and the benefits that come with the ISO 27001 certification far outweigh the time and cost.
In this article, we discuss what ISO 27001 certification is, the estimated cost, and the benefits, and we introduce ourselves at Creative Networks and let you know what we can do for your organisation.
Table of contents:
What is ISO 27001?
What is IS0 27001 certification?
Typical ISO 27001 certification costs
Estimated ISO 27001 audit costs
Factors that may influence the cost of ISO 27001 certification
Who are UKAS?
What are the benefits of ISO 27001 certification?
Speak to an ISO 27001 certification expert
What is ISO 27001?
ISO 27001 is an internally recognised certification of excellence related to Information Security Management. Covering critical aspects of business such as cyber security and data protection, which is an essential component of any IT infrastructure for modern-day business.
While data breaches cannot be completely escaped, installing an ISO 27001-compliant ISMS can mitigate much of the risk. This is one of the many reasons why the global managed IT security services market is set to be worth a staggering £49.4 billion by 2027 and why more and more businesses are turning to managed IT services for Information security management systems (ISMS).
The ISO 27001 standard provides companies of any size and from all sectors with guidance for establishing, implementing, maintaining and continually improving their security management. A company that conforms to the standard means that the business has put in place a system to manage risks related to the security of data owned or handled by the company and that this system respects all the best practices and principles enshrined in this international standard.
What is ISO 27001 certification?
ISO 27001 certification provides independent, third-party verification that an organisation’s ISMS meets the requirements of the ISO 27001 standard. Certification is granted by an accredited certification body following a successful audit of the organisations’ ISMS.
The certification usually takes a few days to process after a successful audit and is granted for 3 years. An ISO 27001-certified company is audited annually within the 3 years to ensure the organisation’s ISMS complies with the standards and policies of ISO 27001.
Typical ISO 27001 certification costs
The cost of ISO 27001 certification can vary depending on several factors, such as the size and complexity of your company or organisation, the number of locations you have as well as the number of employees.
Having prepared countless organisations for ISO 27001 certification over the last 18 years, we at Creative Networks recommend budgeting the following to cover the cost of the initial certification audit. Bear in mind that there will be further audit costs throughout the three-year certification period.
The actual fee charged will depend on the certification body that you appoint and the risk it associates with your information security management system (ISMS), but use the information below as a general guide.
Estimated ISO 27001 audit costs
Costs can vary, so it’s difficult to provide an exact amount, but as a general guide, the cost of the initial IS0 27001 audit sees the following estimates:
Small business of 1-16 employees: from £6250 – £8750
Medium business of 26-66 employees: from £11,250 – £13,750
Large business of 86-126 employees: from £15,000 – £16,250
Extra large business of 400+ employees: from £20,000- £30,000 +
Factors that may influence the cost of ISO 27001 certification costs
As we’ve said, the costs can vary between organisations, the certification body you choose and what work needs to be done to get ready for the certification process. Here are some other factors that may influence the cost of ISO 27001 certification.
- The ISM’s current maturity level
- The types of activities carried out under the ISMS’s scope
- The scope and variety of technology used in the ISMS’s numerous aspects
- The level of outsourcing and third-party arrangements within the scope of the ISMS
- The difference between the actual state and the desired state of the control environment
- The capability inside the company to develop the ISMS and close the highlighted gaps
- How fast the certificate has to be provided to the client
- Type of data your ISMS houses
- Number of employees and locations (the size of the organisation)
Naturally, the smaller the company, the less complicated the process; therefore, the less the cost will be to become certified; therefore, the larger the company, the more complicated the process; therefore, they incur more costs.
Who are UKAS?
UKAS standard for the United Kingdom Accreditation Service. This body is the official UK accreditation body responsible for awarding certain compliance standards and certification right to governing companies.
You may be surprised to learn that the creators of ISO standards do not hand out the certificates themselves. Instead, it is the role of accredited professional agencies to assess applicants and decide their suitability.
The relationship between ISO and UKAS can be a little confusing, but in simple terms, ISO is responsible for creating the standard that companies should adopt if they want to work efficiently and with reduced risk, and UKAS assess who meets the high standards of the ISO standards and therefore awards them with the official auditing status.
Does ISO need to be UKAS? Well, no. You can become ISO accredited without UKAS through any official awarding body. The difference is that UKAS brings its mark of excellence, which you will miss out on if you use a certification service that isn’t accredited.
If you do not achieve the award through a certified UKAS body, you will also find it hard to reap the benefits such as productivity, efficiency and a strong financial ROI. An organisation can get an ISO certificate from many companies, but only the ones with a UKAS award hold the most weight.
What are the benefits of ISO 27001 certification?
ISO certificates aren’t a legal requirement, so your organisation doesn’t have to have them, but it is recommended that all companies adopt them. In fact, it experienced a growth rate of 20% in 2022, showing that many companies appreciate the value of ISO 27001, including large, global companies such as Apple, Microsoft and Amazon.
Cybersecurity is also an increasingly big issue for many companies of all sizes to deal with, and the challenges they’re facing with this are changing at a rapid rate. Without protection and procedures in place, cyber infringements are more likely to be successful in accessing your organisation’s private data, which can lead to nasty repercussions and a damaged reputation.
Some of the benefits of ISO 27001 include:
- Your business will stand out
- Your business will be eligible for lower insurance premiums
- Improve company culture and reputation
- Audits can be less frequent, making better use of time
- ISO 27001 certification means you’re compliant with recommended standards
Speak to an ISO 27001 expert
As a business that has more than 18 years of experience, Creative Networks know everything there is to know about the world of IT support and services, including ISO certifications. This is represented in the growth of our services and clients over the years, which has put us in the position of being a market leader networks support agency.
We can help to answer your questions and queries, such as if you need Cyber Essentials if you have ISO 27001, and give you expert advice on the difference between them.
As you can see from the wide range of IT services we provide, our approach to setting companies up with tough IT networks is to cover all bases. This is how we also handle getting companies ready and compliant for ISO 27001. The main goals are to improve confidentiality, make operations more efficient, create robust business integrity and ensure that information is available for safe access whenever needed.
We offer full ISO 27001 auditing and IT consultancy to help things run smoother. By providing a clear view of where your business stands concerning ISO compliance, we can work with you to create a unique strategy for achieving IT security success!
A final word on ISO 27001
So, what is the cost of ISO 27001, well there are many factors that influence the cost of the certification, and this varies from business to business; it can be anything from £6,000- £30,000+, but the benefits far outweigh the cost, and Creative Networks are here to help you every step of the way.
