The need for ISO 27001 certification is a significant milestone for any organization committed to information security. Applications for ISO 27001 have increased by 22% during the last ten years. Also, businesses with ISO 27001 certification experience 50% fewer data breaches compared to those without it. More firms are learning what to expect when they pursue this certification as the number of certifications issued climbs.
Get in this blog, to have a clear breakdown of ISO 27001 Certification and Compliance Cost.
Several factors influence the cost of obtaining ISO 27001 certification. Understanding these factors can help you better estimate and plan your compliance budget:
There are three broad categories into which the entire cost of ISO 27001 compliance can be divided:
We will discuss each point in detail-
An ISO 27001 certification process requires a lot of preparation. You must create controls, conduct risk assessments, and specify the scope of your ISMS. Some of the most frequent fees you’ll need to think about are listed in this list of preparatory costs.
Learning about ISO 27001 standards and its 93 controls is an essential step in getting ready. You will need to buy the standards because ISO does not make them available to the general public.
As of right now, downloading a copy of ISO 27001 costs approximately $125, according to the ISO website. You can download the ISO 27001 standard, which provides instructions on how to install controls, for $225.
Hiring an external ISO 27001 Consultant can be a terrific approach to handling your security management with a compliance professional while saving your company money. ISO 27001 consultants are the best to take you through the compliance process.
A seasoned consultant is familiar with best practices for all phases of the compliance process, from auditing to ISMS construction. They can assist you with gap analysis, risk assessments, and certification scope.
ISO consultant fees typically range from $38,000 to $39,000. Pivot Point Security notes that ISO 27001 consultant charges range from $1,400 to $1,800 per day and divides these expenses into two pre-certification phases:
Developing an ISMS can be very difficult, particularly if you’re not familiar with the ISO 27001 criteria. You may see where you stand right now and what has to be done to be audit-ready by doing a gap analysis.
A compliance specialist will review your security posture and compare it to ISO 27001 criteria as part of a professional gap analysis. After that, they will give you a report outlining your ISMS’s scope, any holes that need to be filled, and an approximate time frame for getting audit-ready.
A company that provides ISO 27001 gap analysis services charges $5,700 to businesses with one location and up to 250 employees.
Control goal A12.6: Technical Vulnerability Management is one of ISO 27001’s standards. It says that businesses must identify vulnerabilities early on and take appropriate measures to fix them. This entails either routine penetration tests or vulnerability assessments for the majority of businesses.
When doing a penetration test, your business hires an outside party to simulate an attack on your systems, apps, and infrastructure.
The purpose of a vulnerability assessment is the same: to find any weaknesses in your security measures.
Pen tests range in price from $5,000 to $20,000 on average, with an average of $8,000 to $10,000. On the other hand, the price of vulnerability assessments varies from $2,000 to $2,500, contingent on the quantity of servers, IP addresses, and apps that require examination.
The total number of controls was lowered from 114 to 93 after the control set was modified in 2022.
Depending on the path you choose to take to obtain ISO 27001 certification, your implementation cost will vary.
Some associated expenses you can expect in this process-
It is a requirement of ISO 27001 accreditation that you provide your staff with formal security training. Staff awareness training normally costs $25 per user, but depending on the subject, level of hands-on training, and training provider, it can cost as much as $15,000 per training session (trainer expenses).
Expense in comparison to alternative options: $25 per user for each session up to $15,000.
Before requesting an ISO 27001 audit, you should make software investments to improve your overall security posture based on the findings of your gap assessments.
Check whether any of the given technological security measures are implemented in your system.
Depending on what you require, the costs will mount up. MDM, for example, costs roughly $48 per user per year, whereas vulnerability scanners might cost anywhere from $6000 to $25000. On the other hand, password managers and antivirus software are free.
Among the greatest and hardest to quantify costs associated with ISO 27001 certification are productivity costs.
A member of your engineering, HR, legal, and IT teams will probably need to dedicate their time to obtaining ISO 27001 certification.
Someone on your team will also need to maintain an updated ISMS after you get certified to prevent the loss.
Annual surveillance audits are required for the three-year validity of the ISO 27001 accreditation. You need to set aside money for these ongoing expenses. The cost of a certification audit might range from $10,000 to $5,000,000, depending on the qualified auditor (or organization) you select.
The cost of the recurring monitoring audits ranges from $5000 to $40000. (Learn more about auditing surveillance.)
Surveillance audits usually end up costing roughly half of the first audit.
Costs for auditors: $10–50K for certification plus $5–40K for monitoring
If you are planning to get ISO 27001 Certification in budget, there are a few things you can process. Also, it is recommended to get compliance expert guidance to get a more accurate ISO 27001 cost.
The four choices under the cost of ISO 27001 certification are as follows:
If you are planning a DIY technique then you might form an internal task force and assign them the responsibility from the outset to the external audit. Although it’s manageable, remember that do-it-yourself projects might take months to be audit-ready and can take up significant staff time.
Regarding expenses, although this seems like a free alternative, there is a significant opportunity cost associated with taking advantage of important employees’ productive work hours to pursue audit preparation.
Although you may get around this by hiring a security specialist, this is a costly solution, which is why only larger, more reputable companies hire in-house security experts to handle compliances.
Cost- It depends on the lost production
Time- More than 5 months (expected)
External consultants are typically the preferred first choice. They are well-versed in compliance and serve as crucial stepping stones for your company’s ISO 27001 certification process.
When it comes to creating policies, defining the scope of your ISMS, creating the SOA, risk assessments, and risk treatment plans. To mention a few, they carry out the majority of the heavy lifting.
Cost: Varies based on consultant fees
Time: More than 5 months (expected)
One option would be to use a GRC tool, which is used for project planning. The majority of technologies assist you in integrating your ISMS scope into policy management procedures and include dashboards and integrated reporting. They are semi-automated and offer templates for the numerous documents required in your ISO 27001 journey.
They also provide an outline of the audit efforts necessary for compliance as well as the ramifications of your risk. Nevertheless, the majority of GRC technologies are designed for larger enterprises, don’t take into consideration edge circumstances, necessitate human intervention, and don’t easily integrate into the SaaS/start-up ecosystem.
Cost: Varies based on the GRC tool
Time: More than 3 months (expected)
Compliance automation tools streamline the ISO 27001 certification process by automating many of the required tasks. These tools can help you maintain continuous compliance by automatically updating policies, monitoring controls, and generating audit reports. They reduce the time and effort required from your team, making the process more efficient and less prone to errors. Compliance automation tools are especially beneficial for small to medium-sized businesses and startups, offering a cost-effective and scalable solution for managing ISO 27001 compliance.
Cost: Subscription-based, generally more affordable than manual methods
Time: Less than 3 months (expected)
ISO 27001 is widely used and recognized since it is an international standard. The cost of ISO 27001 certification varies significantly depending on labor prices in various nations.
For instance, the cost of ISO 27001 certification in the UK might range from $12.5K to $60K. It varies from $1.8K to $6K in India. The range in Australia is $15K to $27K. Therefore, the overall cost differs among countries based on the labor rate.
Achieving ISO 27001 certification can be a complex and resource-intensive process, but you don’t have to do it alone. At Socurely, we specialize in helping businesses of all sizes navigate the path to ISO 27001 compliance. Our comprehensive services include gap analysis, consultancy, employee training, and audit support. We tailor our approach to meet your specific needs, ensuring a smooth and cost-effective certification process.
Partner with Socurely to secure your business’s future. Our experts will guide you through each step, from initial assessment to full compliance, making sure you achieve and maintain ISO 27001 certification with confidence.
How long does it take to achieve ISO 27001 certification?
The duration can vary, typically ranging from six months to a year, depending on the organization’s size and current security posture.
Is the cost of the ISO 27001 certification justified?
It is, indeed. Your clients and potential clients will see that you take cyber security seriously and have the procedures and systems in place to protect sensitive data if you have an ISO 27001 certification.
What is the price of an ISO 27001 certification in India?
For a small-sized organization, the cost of ISO 27001 certification for compliance audit in India might range from INR 1,00,000 to INR 4,00,000 or more. For medium-sized and larger businesses, the cost of ISO 27001 certification may exceed the amount stated.
How often are surveillance audits conducted?
Surveillance audits are typically conducted annually to ensure ongoing compliance with ISO 27001 standards.
