ISO 27001 Certification: Explaining costs, process, and timeline

What are the costs of ISO 27001 certification for small businesses?

From our perspective, ISO 27001 certification is essential for ensuring compliance with internationally accepted information security standards.

Determining the costs of ISO 27001 certification begins with a gap analysis to prepare for the subsequent steps. You also need to consider targeted staff training, internal resource planning, and internal audit performance.

Implementing and auditing an Information Security Management System (ISMS) has costs. External auditors from the certification body perform the certification audit to verify compliance with the ISO 27001 standards.

The costs for implementing and certifying ISO 27001 vary depending on the company’s size and complexity and a range of other factors, which we will discuss below.

The costs of complying with ISO 27001 certification depend on the size of the company, the number of employees, and the company’s location. Companies must consider the costs of introducing the information security management system as well as the ongoing costs of monitoring and inspections by external auditors. To optimize certification costs, we recommend relying on the expertise of experienced consultants to implement the ISO 27001 standards efficiently and economically.

What are the internal and external components of the costs of ISO 27001 certification?

We have listed all phases and the associated costs for you so that you have maximum transparency:

 1. Assessment of the current security situation:

• • External audit costs by security experts or internal resources who spend time and resources assessing current security practices.

2. Creation of an ISMS (Information Security Management System):

• • The costs for developing and implementing a customized ISMS include adapting the guidelines, procedures, and processes.
  • Possible expenses for the ISMS software or tools to manage the security measures.

3. Employee Training:

• • Costs for training and training materials to improve employee security awareness.
  • The time required for internal trainers or external training providers.

4. Certification fees:

• • Fees are charged by the accredited body for conducting the certification review.
  • The amount of the fees may vary depending on the size and type of company and the scope of the certification.
  • The exact certification fees vary depending on the certification body chosen, the scope of the certification, and other specific requirements.
  • Costs for the ISMS documentation review and processes by the certification body.
  • Any additional expenses for revisions or corrections.

5. Required internal resource planning and how you can reduce it with external consulting:

Coordinate the time and staff resources required for the certification process and following ISMS management. Take these points into account when planning resources:

• • Consulting on ISMS development:

    An external consultant can help develop and implement a customized ISMS that meets the company’s specific demands.

• • Support with documentation:

    A consultant can help create and update the necessary documentation and guidelines for the ISMS.

• • Training and awareness-raising:

    A consultancy can help implement training and awareness programs to enhance employees’ security awareness within the company

  • Certification preparation:

    Guidance in preparing for the ISO 27001 certification audit, including internal audits, mock audits, and identifying vulnerabilities to optimize the certification cost.

• • Technical expertise:
    Access to specialist knowledge and internationally recognized best practices from other information security projects to ensure the ISMS complies with current standards and requirements.

6. Technological investments

Procurement and implementation of security technologies such as firewalls, encryption solutions, etc.

7. Ongoing expenses

• • Costs for regular internal audits and reviews of the ISMS
  • Regular training for employees to maintain security awareness

What specific costs do small companies have to expect for external consulting?

Based on our experience, we have summarized the available consulting options for the relevant price range.

 The costs can be divided into three parts, which are explained in detail:

1. 1. GAP analysis: A GAP analysis is like a doctor’s X-ray. GAP analysis presents the current situation and what needs to be done to achieve ISO 27001 certification. It is based on the ISO 27001 roadmap. It can be carried out as a one-day workshop and, based on experience, costs between €2,000 and €5,000.
   2. Preparation, self-assessment, technical and physical security analysis, and ISMS structure: This is the most labor-intensive part of the ISO 27001 project. Due to the different efforts involved, this part ranges from €6,000 to €15,000.
   3. Establishment of guidelines, processes, necessary documentation, and audit support: This is the last part of your ISO 27001 roadmap and costs between €7,000 and €14,000.

In general, the budget requirement is between €15,000 – € 35,000. If you have a team of two, the consultancy pays for itself by saving a week’s work, which is the case in most situations.

The project duration can be between 3 and 9 months. Please also bear in mind that you will need to budget for additional costs for the independent auditing company.

For further information, please make an appointment with us.

 

Frequently asked questions about costs for ISO 27001 certification

What are the requirements for obtaining an ISO 27001 certificate?

Our experience from more than 30 projects shows that companies need to fulfill several requirements to obtain an ISO 27001 certificate. This includes setting up and implementing an information security management system that meets the ISO 27001 requirements. Conducting a risk assessment, implementing security controls, and documenting all security measures are also required. In addition, companies must conduct regular internal audits and undergo an external certification audit to ensure that the implementation of an ISMS complies with ISO 27001 standards and ensures the integrity and availability of information.

How long is an ISO 27001 certification valid?

The validity period of an ISO 27001 certification is always 3 years. During this period, the annual follow-up audits take place.

What are the costs of the ongoing operation of the information security management system?

1. 1. Hardware and software costs: Acquiring and maintaining IT infrastructure and security software.
   2. Employee expenses: Compensation for security experts who manage and monitor the ISMS.
   3. Updates and changes: Regular updates of security solutions and systems.
   4. Protective measures: Expenses for monitoring, penetration testing, and security training.