About ISO 27001:2013
ISO 27001 is an internationally recognized information security management standard that is used by organizations around the world to help protect their company’s data from cyber attacks. It provides a clear set of requirements and steps designed to reduce risk, manage compliance and improve your response in the event of a cyber attack.
ISO 27001 Certification cost
There are several stages on obtaining ISO 27001 Certification, in each stage the cost involved depends on the availability of resources and its readiness to meet the certification requirements. The cost for ISO 27001 certification depends on the size and complexity of your organization. The cost may also vary depending on whether your company outsources processes such as risk assessment and risk management, or employs these in-house.
The major cost of obtaining ISO 27001 Certification is not a matter of surprise. The key thing is to know how much your organization can afford due to the different stages and processes on the way.
Let us check stage by Stage.
Cost in Infrastructural Requirements
For Obtaining ISO 27001 Certification, the organization has to develop some infrastructure like Policy Documents, Internal audits, and change management, etc. On the whole cost of infrastructural requirements is about $20K to $30K (INR 1.00 Lakh to INR 1.50 lakhs).
Cost in Awareness and Training Programmes
Obtaining ISO 27001 requires extensive training as well as awareness programs because your entire organization, including the management and staff, needs to be aware of how ISO 27001 sets forth processes. For an organization with 1000 staff members, it would cost about $10K (INR 75000 approx.).
Cost in Development of Security Manual and Policy Documents
Organizations also need to develop Security policies for different areas like Business Continuity Management, Information Security, and Network Security. The cost for developing these policies would be about $5K (INR 40,000 approx.).
Cost in Audits and Validation
Businesses would need to conduct audits of their processes through third-party auditors or internal audit departments. This costs about $2.5K (INR 20,000 approx.).
Cost in System and Subsystem Implementation
Businesses would also need to implement Security Controls for vital systems like email, databases, firewalls, and more. This cost is dependent on the number of systems within the organization as well as their complexity. For an organization with 500 users, it would cost about $13K (INR 1.05 Lakhs).
Cost in Training Employees
ISO 27001 mandates that all employees, from management to the front-line staff, be trained on information security and information protection. Training can also be very expensive. Outsourcing this to a third party can save your organization time and money while better equipping your employees with the skills they need to implement the security policies and procedures of ISO 27001. This involves about $6K (INR 45000 approx.).
Cost on Certification :
One of the biggest costs is third-party auditing, which can cost anywhere from $2,500 -$5,000 USD per audit (for companies with more than 1000 employees). Many third parties are now offering a partial or full “package” to assist your organization in obtaining ISO 27001 certification at a reduced rate. This could include helping you with the cost of training employees, as well as small and/or large-scale testing. Solutions like this can generally reduce your costs by $10,000 USD or more! Estimate annual maintenance fee would be $ 10,000 to 15,000 for each year.
Auditing the ISO 27001 standard is a similar process to auditing other ISO standards, and requires an auditor to assess the information security practices of an organization against 25 requirements outlined by the standard. Many organizations elect to undergo ISO 27001 certification audits externally, rather than use a third party to assist with the other costs of ISO 27001 Certification.
Return on Investment:
The return on investment for the ISO 27001 standard is similar to that of other Information Security Assessments. In an ideal scenario, you would have a dedicated information security staff member and they would receive all necessary training in order to be fully compliant with the requirements of the standard. If your organization does not meet these requirements, you will be forced to outsource this function to an outside company. Outsourcing services for information security is common among organizations of all sizes, as it allows them to focus on their core business while receiving the benefits of a fully-staffed information security department.
Call EAS now to work out the ISO 27001 Certification cost for your organization. Email: enquiry@eascertification.com
