How ISO 27001 AND SOC 2 Can Create Value For An Organization

ISO 27001 and SOC 2: How Can They Create Value for an Organization

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As two of the most effective compliance frameworks/standards applicable to all industries, ISO 27001 and SOC 2 can be exceptionally valuable for your organizations. Compliance with these standards goes beyond protecting data – it spurs trust and loyalty with potential customers and partners by exhibiting a commitment to a higher level of protection.

More organizations are becoming exposed to the value of obtaining compliance with these standards, so the time to start working toward compliance with your organization is now. Here’s what you need to know about the intrinsic value of ISO 27001 and SOC 2 for your organization.

Compliance Programs Creating Value For Your Organization

While various compliance programs are designed to ensure an organization’s security measures are up to par, two standards continually steal the spotlight as some of the most effective in the bunch: ISO 27001 and SOC 2.

Although both standards/frameworks center around information security for any industry, each standard highlights a slightly different aspect of the concern in question. By achieving compliance with one standard, you’re one step closer to achieving compliance with the other, as they share the same general priority: an impenetrable cybersecurity plan.

What Is ISO 27001?

The International Organization for Standardization (ISO) is responsible for ISO 27001. The organization works in collaboration with the International Electrotechnical Commission on this standard, which is formally known as ISO/IEC 27001: Information Technology, Security Techniques, and Information Security Management Systems Requirements, to represent contributions from both parties.

This standard is a renowned information security standard that helps ensure organizations in compliance have a suitable and effective cybersecurity program set up. It focuses on data confidentiality, availability, and integrity, making it applicable to enterprises of all sizes and sectors.

What Is SOC 2?

Like ISO 27001, SOC 2 is a standard surrounding information security management. However, while similar, SOC 2 is an entirely different standard and falls under the control of the American Institute of Certified Public Accountants (AICPA). This auditing standard functions as an across-the-board test challenging an organization’s information security, availability, processing integrity, confidentiality, and privacy controls.

The standard applies to all industries, although it’s particularly solicited within commercial contracts, like SaaS providers marketing solutions to major companies. The system serves as a third-party, purely objective test that displays an organization’s commitment to data security.

Why Are These Standards So Important For An Organization?

For many organizations, obtaining compliance with these standards is critical for a few reasons. First, these standards can aid in improving revenue and drawing in new customers, as they showcase dedication to data security, integrity, and availability.

Second, they help the organization meet the board and C-level mandates, which is essential for various companies. Last but not least, they ensure the organization fulfills regulatory requirements.

While these standards both play an essential role for industries of all kinds as highly effective cybersecurity frameworks, they do this slightly differently. With a SOC 2 audit, organizations undergo testing to ensure they can securely manage their data. These tests help promote the protection of the organization and its client’s privacy.

This standard is extremely valuable for organizations. Many customers and partners want the peace of mind it offers, knowing the organization is willing to complete the steps necessary to protect its information. On top of that, compliance with this standard exhibits confidence by confirming a trusted, independent auditor has validated the organization’s process.

On the other hand, ISO 27001 compliance displays an organization’s commitment to data protection. While similar to a SOC 2 audit, this certification turns the spotlight to data confidentiality, integrity, and availability.

By building a framework that complies with this standard, the organization effectively reduces the security risks associated with poor information security and diligence. This facilitates trust and ease for customers and partners entering a deal with the organization, as it has proven its commitment to effective risk management.

Ready To Achieve Compliance? Contact Insight Assurance For Personalized Help!

Data protection and security management are imperative, with cyberattacks a looming and ever-present storm cloud threatening businesses across all sectors. These attacks on vulnerable points in your organization’s framework can lead to devastating ripple effects, so developing a robust security plan is essential to keep your organization’s data safe from the grips of prowling hackers.

With ISO 27001 and SOC 2 compliance, your organization can display its commitment to data protection and cybersecurity, ensuring data remains safe by fortifying vulnerable points. Ready to begin steps toward compliance? Our experienced team and Insight Assurance can help! Fill out a contact form to get started today!

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