Benefits of suppliers with ISO 27001 Certification.
When marketing managers ponder strategies, they generally centre on factors such as target audience, brand differentiation, personalization, and compelling brand storytelling. Unless the business is in a highly regulated industry such as financial services, it is rare for marketers to contemplate the compliance of their campaigns. But the landscape is changing at an increasing rate.
In Canada, most professional marketers know that false or misleading advertising, or deceptive marketing practices are prohibited under the Competition Act (the Act). What is becoming increasingly apparent is a brand’s requirement to comply with new legislation designed to protect consumer data. Consumer data has become more valuable than oil. Yet the proliferation of consumer data collected by businesses has led to significant concerns over personal privacy. Canadian legislation regulates how companies collect, use, and manage that information, including the Personal Information Protection and Electronic Documents Act (PIPEDA) and Canada’s Anti-Spam Legislation (CASL). The loss of consumer trust that many businesses have experienced due to security breaches has damaged brand reputations and affected sales revenue.
As businesses continue to increase internal awareness of properly managing consumer data, another frontier is becoming a challenge – third-party suppliers. Companies must factor in how suppliers deal with consumer data to protect their proprietary data. “Our client’s IT, and compliance departments are very engaged in supplier selection. They want to ensure that our IT infrastructure has the necessary Information Security Management System in place to protect their data.”, says John Leonard, V.P. Sales and Marketing, Cover-All Business Communication Management.
With the increase in cyber security threats compromising consumer data, suppliers are now on the radar to close the back door to potential data breaches. “This can significantly reduce the pool of potential suppliers. However, those suppliers will likely be easier to work with because they have the necessary processes and procedures in place to ensure the smooth operation of their business”, says Leonard. ISO 27001 Certification has become vital to many businesses because it is the only auditable International standard that defines requirements for an Information Security Management System (ISMS), enabling organizations to manage the security of assets such as financial information, intellectual property, employee data, or information entrusted by third parties.
Why is ISO 27001 important to data protection?
ISO 27001 provides clients with confidence in security controls and that ISMS protects confidentiality, integrity, and availability of information. It also ensures that organizations realize legislative, regulatory, and contractual compliance requirements.
Data security is critical to business success in today’s environment, where an organization incurs a security breach every 11 seconds. ISO 27001 Certification ensures that an organization has security standards in place to give clients confidence that their data is protected.
ISO 27001 Certification is an independent third-party ISO-authorized certification body assessment that validates that a supplier complies with necessary procedures and assures clients that the highest security standards are in place and are being followed.
ISO standardizes how information security is managed within an organization to prevent unauthorized physical access, damage, and interference with the organization’s data and information processing facilities. It ensures that data security is integral to information systems across the entire lifecycle. This also includes the requirements for information systems that provide services over public networks.
An ISMS strategy with clearly defined best practices, policies, and procedures is critical to protecting your organization’s compliance. ISO 27001 Certification ensures that organizations realize legislative, regulatory, and contractual compliance requirements, helping to avoid costly fines, loss of reputation, or lost business. It is a benchmark for best security practices to ensure that information is secure throughout the organization.
The certification process aims to ensure that data is managed in a secure environment throughout its lifecycle. The standards are high, and the audit is an involved process. The potential loss of consumer trust and revenue from a security breach can devastate a brand. It’s time for organizations to close the back door to the potential threat to their consumer data by ensuring third-party suppliers have the appropriate ISMS programs in place.
John Leonard is V.P., Sales & Marketing for Cover-All Business Communication Management. He works with his team and clients to develop relevant and effective communications by using data and technology. Contact Cover-All Business Communication Management to find out more at (416)752-8100.