To most people outside the data security and software industries, the phrase ISO27001 probably doesn't mean much. In business, it matters. It's a certification that shows a company's data security is up to scratch. ISO, the institution behind it all, explains it succinctly:
"Using (ISO 27001) enables organizations of any kind to manage the security of assets such as financial information, intellectual property, employee details or information entrusted by third parties."
When you earn an ISO27001 certification, you put data security first. At Speechmatics, we handle vast amounts of data every day (see our recent partnership with Kao Data for more details about how we’re making the leap to greener data management). In terms of security, to prevent leaks of confidential information and to ensure we're not caught out, we've earned the ISO27001 certification and can now proudly wear the badge.
Here are 3 reasons why it’s vital for us.
It's all well and good bragging about tight-knit data security, but it's another to back those claims up. ISO27001 certification provides that. Just as the mere presence of a home security system deters burglars, an ISO27001-backed reputation helps prevent threats before they even appear.
To gain the ISO 27001 award, we proved that we could not only prevent potential data system vulnerabilities but also consistently defend them. This achievement was due to our comprehensive suite of information security controls and the management system we introduced to ensure these controls remain efficient and meet our customers' needs.
Of course, a good reputation is one thing, but if you can't back it up, you're not far from a breach. As an AI company with innovation at the forefront of our actions, we realize the need to evaluate our systems consistently. The ISO27001 certification requires an annual audit by an external third party. This ensures our systems continue to meet the stringent requirements set out in the ISO 27001 standard.
Moreover, it provides a clear framework for information security risks and management processes. This way, we can thoroughly cover up any potential cracks and bring new employees up to speed with our software without skipping a beat. Said guidelines mean a more streamlined workforce. Streamlining leads to innovation; innovation leads to success.
As mentioned, the reputation an ISO27001 certification brings is one of the most significant advantages for companies like Speechmatics. As of now, we're a part of a globally recognized and respected community – creating the opportunity to work with the biggest global brands.
Acquiring a new customer can cost five times more than retaining an existing customer. Increasing customer retention by 5% can increase profits from 25-95%. Building our reputation as a reliable, data security-conscious company makes it easier for us to retain customers while securing new ones simultaneously.
Data security is one of our top priorities. As a company that works across various industries, it must be. We recently partnered with Kao Data, one of the UK's best and most sustainable data centers, to keep our growing database secure.
But the ISO27001 certification means more than that. To recap, it provides:
Visible proof our data defence is up to scratch.
Encourages year-round focus on data security.
It allows us to join a globally recognized and respected community.
That, for us, is essential, especially as we continue to grow and make a lasting impact on the AI industry. We'll always need more data, so it helps our customers know it's in safe hands.
Stefan Fisher, Head of IT and Security, Speechmatics
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