ISO 27001 certification is a critical benchmark for organizations aiming to safeguard sensitive data. It not only boosts safety measures but also instills confidence among clients and stakeholders. However, one of the most daunting aspects of obtaining it is the ambiguity surrounding its cost. This guide aims to clarify the expense associated with getting certified, providing a comprehensive breakdown to help companies make informed decisions.
Factors Influencing ISO 27001 Certification Fee
The following factors provide a comprehensive understanding of how various aspects influence the overall cost of gaining approval.
- Size of the Organization: Larger firms often have more complex operational structures involving multiple departments and a wide range of data types, necessitating a more thorough and time-consuming audit process.
- Number of Office Locations: Organizations with numerous office locations may require inspections at each site, increasing the logistical complexities and often requiring auditors to travel, escalating fees.
- Type of Data Managed: The more sensitive the data a firm handles, the higher the level of scrutiny and, consequently, the expense. Plus, specialized inspections often require experts, increasing the overall expense.
- Industry Sector: Sectors with fewer regulations may find certification less expensive compared to banks and hospitals, which have stringent regulatory requirements and may entail more rigorous checks.
ISO 27001 Certification Steps
It’s necessary to have a complete overview of the different stages to understand the expenses involved in the process.
How Much Does the ISO 27001 Certification Cost?
Let's break the process down into three stages – preparation, implementation, and audit to comprehend the cost.
Here's a breakdown of some of the key preparation expenses involved:
ISO 27001 and 27002 Standard Requirements: $350
The first step in this phase is to acquire these documents, which outline the requirements and guidelines for establishing and maintaining an effective ISMS. They are approximately $350 and serve as the foundational texts for the procedure because they provide insights into the 114 controls your companies may need to implement, depending on the scope and nature of your business.
Engaging Consultant: Up to $35K
Hiring an agency like Eden Data is often recommended, especially for firms without internal expertise in data protection management. A consultant can streamline the process by providing expert guidance on risk assessments, control selection, and documentation. The fee can vary widely, but expect to pay up to $35,000 for a comprehensive service package. This investment can be invaluable in avoiding common pitfalls and ensuring a smooth procedure.
Gap Analysis (Optional): Up to $6K
This is another optional but highly beneficial step that examines the differences between your current safety practices and the ISO 27001 requirements. Knowing these will help you focus your efforts more effectively, saving time and resources in the long run. The price can be around $6000, depending on your organization's systems' complexity.
Penetration Test and Vulnerability Assessment: Up to $10K
Penetration testing and vulnerability checks are methods for identifying weaknesses in your system. These assessments simulate cyber-attacks to discover susceptibilities before malicious hackers can exploit them. The charge for these can range from $2,000 to $10,000, depending on the depth and breadth of the tests.
This stage involves translating the plans and documentation developed during the preparation phase into actionable steps. Here's a detailed look at the various fees associated with implementation:
Your employees need to understand the ISMS's new guidelines, procedures, and tools. Formal training can be around $1,000 annually, depending on your chosen provider. This will ensure your staff is qualified to maintain compliance effectively.
The time spent on building and maintaining ISMS is an expense that companies often overlook. This involves updating the security system, documenting new risks, and managing the process. If you need specialized help, hiring a full-time compliance professional can be between $75,000 and $90,000 annually.
Maintaining Licenses for Tech Tools
You'll need the latest software and advanced tools to stay compliant, which is around $5,000. Additionally, there are specialized software solutions designed to assist in risk management, also priced similarly.
Lead Implementer Costs
Having a lead implementer can be invaluable because this individual is trained to oversee the procedure and ensure ongoing compliance. You can teach an existing employee, which involves its own set of expenses, or hire a certified lead implementer.
Certification Audit Costs
The final step in the process is the audit, which is divided into two phases.
Stage 1 and Stage 2 Audits
The phase one check is a preliminary review that evaluates your company's preparedness for the second one. It involves a review of your ISMS documentation and a basic assessment of your site's security measures.
The stage two examination is a comprehensive evaluation that verifies your organization's compliance with ISO 27001 standards. It includes interviews, system tests, and reviews of how effectively safety rules have been enforced. The price for these initial inspections can range from $10,000 to $50,000, depending on your company's size and complexity.
Recurring Surveillance Audits
Once you've gained approval, you'll need to carry out an internal check in the second year and a surveillance audit in the third year. Each of these is estimated to cost around $7,500, bringing the average annual expense to approximately $15,000.
Eden Data Can Help You Save Money on ISO 27001 Certification Cost
Are you ready to become certified? Why not hire an expert consultant to help level up your cybersecurity game? Choosing Eden Data as your ISO 27001 certification adviser offers unparalleled advantages.
- Our seasoned team – digital security whizzes consisting of Big 4 pros and former military experts – will help you simplify the complex process, ensuring a smooth and efficient certification. To this end, they can help you with gap analysis, defining policies, procedures, and controls, overseeing readiness, liaising with auditors, and building a future inspection roadmap.
- Our detailed hands-on training will equip your team with the skills needed for ongoing adherence to ISO standards.
- There is no need to assemble an internal compliance team – a process that takes months. You have a ready-made squad of experts with skills across industries that help speed up the process.
- Since time is money, the quicker you become ISO 27001 certified, the faster you start doing business. We make the process easy for you. This means you save money. No time wasting!
- Unlike other agencies, we offer a predictable pricing plan with no long-term contract or hidden fees. Also, our customer-first approach ensures that we create a solution that best suits your business.
But that is not all! Eden Data will also help you handle penetration testing, vulnerability assessment, digital forensics, and data protection. Also, we extend our domain over different industries, from IT services and consulting to healthcare, financial services, and biotech companies.
So, are you ready to level up your security game? Start your journey in three simple steps:
- Explore our services here.
- Review our pricing plans here.
- Reach out to us to kickstart your voyage here.