Are you wondering what is ISO 27017 and why is it important to get certified? Well, this piece is for you.
As we move further into the 21st century, old school business practices have been replaced by technologically advanced systems that increase the speed and accuracy of your operations, but they also leave your organisation more vulnerable to 21st century threats in the form of cyber attacks from hackers looking to compromise the information you’re holding onto. What may seem like an innocuous database of corporate client information is actually a lucrative treasure trove for hackers looking to steal valuable data on your clients.
If your organisation’s systems are to be compromised, the monetary and reputational penalties imposed on you may well prove an existential threat. Depending on the country you operate in, there are steep fines for organisations that have failed to properly secure their networks, not to mention the irreparable damage to your organisation’s trust and reputation in the eyes of your customers.
How, then, can your organisation continue to operate with the speed and convenience of cloud storage while maintaining confidence in your ability to secure and protect the data of your customers? That’s where ISO 27017 steps into the equation.
What is ISO 27017?
ISO 27017 is an information technology and security techniques-based code of practice aimed at consolidating your security controls specifically for cloud services that your organisation is offering or using. It’s a set of security controls based on ISO 27002’s guidelines that govern the safe and effective operation of cloud services that keeps both your organisation and the data of your customers safe from outside threats.
ISO 27017 takes all the safety considerations and risk-based thinking necessary to stay safe online, and applies them specifically to the context of cloud storage security.
We understand that maintaining cutting-edge security practices can be a stressful and time consuming process, and the problem is magnified for smaller organisations that don’t have the resources to hire someone specifically for the task. ISO 27017 helps take the load off the organisation by presenting the management team with key risk areas to manage and a set of industry-proven best practices to keep your cloud storage systems safe from prying eyes.
Why is ISO 27017 Important?
Certification to an Cloud Storage Information Technology standard like ISO 27017 is important for a number of reasons. First and foremost, a report from tech-giant IBM says that on average, a data breach costs $3.8 million to completely remediate. Misconfigured cloud storage systems are also one of the most common causes of a data breach, and add $500,000 to the damage bill, meaning that organisations do not yet recognise the importance of securing their cloud storage and internal networks, or the consequences of failing to do so. Implementing an ISO 27017 system ensures that the cloud storage that your organisation is using is optimised in terms of its security settings and protection protocols to ensure you’re using a system that is safe.
Secondly, it’s important to signal to your customers that your organisation not only takes the threat of data breaches seriously, it is proactively working to fix any shortcomings in its information technology department to ensure customers are comfortable with handing over their data to your organisation. This is something that you can outperform your competitors in, and inspire customer confidence in your ability to keep their private information safe after a transaction.
Why Should I get Certified to ISO 27017?
If you’re an organisation that works either as a cloud storage provider, or uses cloud storage internally in your operations, ISO 27017 is imperative to ensure you’re implementing the best practices of security. In many cases, it’s a prerequisite to be eligible for certain large-scale and government projects, as they’re only interested in working with organisations that have a systematic and proven approach to mitigating risks while offering class-leading cloud storage.
Aside from this, if you’ve kept an eye on our news page, you’d know that British Airways was slapped with a £183 million fine – which was later revised to £20 million – for being in violation of General Data Protection Regulation (GDPR) rules on storing customer information. British Airways had information of 429,000 of its customers accessed by an unauthorised third party, and is now paying a harsh price for failing to secure their systems.
What are the Benefits of Getting Certified?
- You’ll be eligible to work on larger, more lucrative projects reserved for companies with a cloud storage or information security system in place, and retain customer trust by consistently delivering on promises and exceeding expectations in respect to data protection
- More impactful decision making in strategy meetings in the context of information security
- You’ll gain a more comprehensive understanding of your online operations and architecture
- You’ll actively address risks in your system
- Inspire consumer and stakeholder confidence in your ability to protect their information or systems
- Instill a sense of accountability within the organisation
- Inspire staff with a purposeful Information Security mission statement that creates organisational buy-in
- Overcome regulatory hurdles in the context of online operating
- More informed decision making in-line with risk-based thinking and the plan-do-check-act cycle of improvement
How to get Certified to ISO 27017
If you would like more information on how to get certified, we’d be happy to arrange a call to talk about your options. Alternatively, if you’d like an obligation-free way to see the ways in which an Information Security Management System can help improve your operations, get your Free ISO 27017 Gap Analysis Checklist.