Why startups benefit from ISO 27001
If you're a Seed, Series A or B startup, you're probably thinking on winning more deals, right?
This blog will help you understand how you can leverage ISO 27001 to win more deals, spend less time filling in security questionnaires and build a security posture for your organization from scratch.
What is ISO 27001?
ISO 27001 provides specifications for establishing and operating an effective information security management system (ISMS). It is part of the ISO 27000 series, which provides international standards for information security management. This international standard is generally applicable to all organizations, regardless of size, type or industry.
Benefits of ISO 27001:
1. Helps to build your information security management system (ISMS):
ISO 27001 helps companies standardize the way information security is managed within an organization and create a flexible system as your business grows.
For smaller companies, it's important not to try to implement everything at once. SMBs face unique challenges when it comes to resources and access to technology, and often don't have large financial resources to put a comprehensive ISMS in place.
However, a simple ISMS can be run on a very small budget and still add value to the business. If your organization has more complex requirements or you don't have a qualified expert in-house, you can consider an outside vendor to help with an ISMS-as-a-Service, such as Secfix.
Although an ISMS may seem like a major undertaking in terms of setup and operation, many of the benefits can be achieved with relatively little effort.
2. Reduces business and management risks:
Many international organizations, whether they are potential customers of your company or would-be partners, won't do business with anyone who is not ISO 27001 certified. Most big enterprises require their suppliers to have an IT security certification. This is the reason why the number of ISO 27001 certifications has increased by 450% in the last 10 years.
However, early stage startups normally haven't dealt with the data and information security topic, but they should. The reason why an ISO 27001 certification is so important is because startups can reduce the risk of potential reputation damage that could result from inadequate risk management or security breaches. Also, as the CEO of the company you need to be responsible of complying with standards and procedures. If the company gets hacked and the management team didn't have the right processes in place, the CEO can be personally liable for the damage.
3. Helps to win more sales deals:
So B2B SaaS companies can build trust in their product by demonstrating to their early customers, partners and investors their commitment to customer data security from day one.
In today's data-driven society, an ISO27001 seal gives a huge market advantage over non-certified competitors and leaves them out in the cold. Sounds convincing to be one step ahead. Yes, it is, with an ISO 27001 certification, you become a globally recognized trustworthy company. Sounds like we are hitting the market with a bang!
That's the third benefit! TRUST in your company in the "data is the new gold" times!
Actually platinum has more value, but in COVID times it's more like "health is the new platinum".. anyways... If I want to work with KRITIS, I don't really have a choice. I would need a certificate anyway!
Another example: Perhaps a customer has requested a report on your information security, or the lack of certification is blocking your sales funnel. ISO 27001 is right for you if you want to expand your customer or employee base internationally. This is especially the case if you are considering or already have SOC 2 certification (USA). Yes, but let's face it, no certification just falls out of the sky or there is a simple registration with TÜV and I get a certificate in my mailbox without having to do anything.... "Certified, thank you, good luck for your startup".
4. Helps reduce financial and operational costs:
Hm, so I still have a stomachache, how much does it cost, who helps me, what do I even have to do and where do I even get certified? In the early stages, it can be easy to overlook security policies and procedures because you want to try something new quickly. And no startup wants to spend a decade dealing with laws and directives. Nightmares and cash included. But implementing ISO 27001 also leads to a significant reduction in financial and operational costs. And no nightmares for the company's directors, because certification also reduces the risk of being held personally liable.
Secfix helps implement standards such as ISO 27001 and SOC 2
But help is on the way: Secfix knows, for startups, both financial resources and manpower are usually scarce! But startups need some kind of compliance, too. Therefore, an ISO 27001 certification process shouldn't slow down sales, be expensive, or take forever. To make certification more tangible and easier for a startup, a compliance automation tool like Secfix automates the work required to prove compliance.
Secfix simplifies the time-consuming and costly process of becoming and remaining ISO 27001 compliant in weeks instead of months - and this is made in Germany! MATCH! Secfix's security monitoring platform helps innovative small and medium-sized businesses design their information management systems (ISMS). That's because B2B SaaS companies are known for using modern, standards-based cloud tools such as task trackers (e.g., Jira and Notion), identity providers (e.g., Google Workspaces and Okta), and cloud services (AWS, GCP, Azure) that can be combined and automated into a reliable, scalable, and sustainable security and compliance engine: Secfix Platform.
With Secfix Platform, you can save up to 90% of the time it takes to implement security standards like ISO 27001 and SOC 2, and put your compliance on autopilot for years after certification. You can leverage Secfix's library of customizable, auditor-verified security policies and make them available to your employees - all through the platform's portal.
Secfix integrates with the company's systems via interfaces and performs hourly audits. This gives companies an overview of the compliance status of their assets at the touch of a button. They can capture all data in real time and say goodbye to screenshots, Excel spreadsheets and the hassle of back and forth with auditors.
So book a consultation with Secfix and get ISO 27001 certified.