ISO 27001 Certification Cost
The ISO 27001 certification cost can be expensive for some businesses, but the benefits often outweigh the price tag. ISO 27001 certification is an internationally recognized standard for information security management systems (ISMS). It provides a framework for managing risk and protecting your organization’s confidential data. If you’re thinking of getting certified, you’ll need to weigh the ISO 27001 certification cost against the benefits. Continue reading this blog to find out more about the total ISO 27001 certification cost.
What is ISO 27001:2013?
Before getting into the ISO 27001 certification cost, let us first define the ISO 27001 standard. ISO 27001 is a globally recognized information security management standard that is used by businesses all over the world to help safeguard their data from cyber threats. It sets a clear set of requirements and actions for reducing risk, managing compliance, and improving response times in the event of a cyber assault. ISO 27001:2013 is the latest version of this standard, which is constantly revised by the International Organization for Standardization (ISO).
What Variables Influence the ISO 27001 Certification Cost?
It’s difficult to estimate the precise cost of ISO 27001 certification. It is entirely dependent on the businesses and the quality management processes they employ. The overall ISO 27001 certification cost comprises the fees paid to the certifying body for auditing and certification, as well as the costs incurred by your company to meet the ISO standard’s requirements.
ISO 27001 Certification Cost: A Breakdown
The total ISO 27001 certification cost is divided into various stages, each of which is determined by the availability of resources and readiness to meet the certification standards. The ISO 27001 certification cost is largely determined by the size and complexity of your business. The most important thing is to understand how much your company can afford given the many phases and processes involved.
The following is a breakdown of the ISO 27001 certification cost by stage:
Preliminary Requirements – ISO 27001 Certification Cost: This stage includes activities such as gap analysis, document review, and risk assessment. It is designed to determine ISO 27001 compliance measures. ISO 27001 certification cost is estimated to be about $1,000 to $2,000 for this stage.
Requirements Definition & Scope – ISO 27001 Certification Cost : The ISO 27001 certification cost here includes the standard’s definition of information security management, including documentation that supports your ISO system, development of a policy and ISO 27001:2013-compliant risk assessments, and more.
Infrastructure Requirements – ISO 27001 Certification Cost: Businesses would also need to put in place security controls for critical systems such as email, databases, firewalls, and so on. The ISO 27001 certification cost is determined by the number of systems and their complexity within the organization.
Implementation & Internal Audit – ISO 27001 Certification Cost: This phase describes the ISO 27001 implementation through policies, processes, procedures, and controls. The ISO 27001 certification cost is determined by whether or not your organization hires an internal auditor or consultant for ISO 27001 implementation. The ISO 27001 certification cost will be greatly reduced if you hire within your organization to conduct the internal audit.
Awareness and Training Programs – ISO 27001 Certification Cost: Because your entire firm, including management and staff, must be aware of how ISO 27001 sets forth processes, obtaining ISO 27001 demands intensive training as well as awareness activities.
Audit and Validation – ISO 27001 Certification Cost: Businesses would need to have third-party auditors conduct external audits of their processes. Typically, an organization will hire an ISO certification body to conduct these audits and issue the ISO 27001 certificate.
Final ISO 27001 Certification Cost : Third-party auditing, which can cost anywhere from $2,500 to $5,000 USD per audit, is one of the most expensive aspects of certification (for companies with more than 1000 employees). Many third parties are now offering a partial or full “package” to help your company acquire ISO 27001 certification at a lower cost. This could include assisting you with personnel training costs and/or minor/large-scale testing.
What is an ISO 27001 Certification Audit Quote?
A quotation is a breakdown of the ISO 27001 certification cost associated with auditing and certification services. The approved certification bodies like IAS provides this service. Although the price is an estimate, the exact ISO 27001 certification cost depends on your business. The estimate is based on the number of days required by a certifying authority to conduct an audit of the company’s management system.
The ISO 27001 certification cost is broken down by following activities:
- Fee for the number of days of auditing
- Stage 1 audit, followed by Stage 2 audit
- Initial Certification
- Surveillance Audit
- Recertification Audit
The Bottom Line: Benefits Far Outweigh the ISO 27001 Certification Cost
When it comes to ISO 27001 implementation, managers are likely to think two things: (1) we’ll pay a lot of money for something we’re not sure is worth it, and (2) the hassle of maintaining such a system will cost us much more.
Yes, ISO 27001 necessitates a financial commitment, however; I would argue that such an investment will pay off if the standard is properly implemented. The following are some of the main advantages of obtaining ISO 27001 certification:
- Avoid the financial penalties and losses that data breaches can cause
- Reduce the number of audits required
- An overall increase in production efficiency
- Employee empowerment
- Compliance with international and federal laws and regulations
- Gain new clients and improve your competitiveness.
For more information on the ISO 27001 certification cost, please contact us today or visit our ISO 27001 certification cost frequently asked questions page!
