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Why CFO's should love ISO 27001!!

Updated: Aug 10, 2023

We all know that CFOs are some of the most important people in any organization. After all, they are responsible for keeping the finances in check. But did you know that CFOs should also love ISO 27001? I know what you're thinking... "ISO 27001? That sounds boring!" But hear me out...this international standard can be a CFO's best friend when it comes to protecting the organization's finances and reputation.

First off, let's define what ISO 27001 is. It's the only internationally accepted standard that outlines best practices for information security management systems. In other words, it's a guide that helps organizations ensure that their information assets are secure. This is where CFOs come in. Data breaches are a huge risk for organizations, and they can be incredibly costly. As the person in charge of finances, a CFO doesn't want to see their organization lose money due to a breach. By implementing ISO 27001, an organization can reduce the risk of a breach and potentially save millions of dollars in the long run.

Another reason CFOs should love ISO 27001 is because it can actually make their job easier. With ISO 27001, an organization can identify potential risks before they become actual problems. This means that a CFO can address any financial risks that may arise due to a security breach, such as legal fees or lost revenue. By being proactive, a CFO can avoid costly headaches down the road.

Still need convincing? Well, how about this...ISO 27001 can actually make an organization more marketable. In today's world, prospects, investors and customers want to know that their data is safe with the organizations they interact with. By implementing ISO 27001, an organization can show that they are serious about protecting data. This will not only help with customer retention, but it can also attract new customers who value security.

And let's not forget about regulatory compliance. CFOs know that regulations are constantly changing, and it can be a headache to keep up with them all. However, by implementing ISO 27001, an organization can ensure that they are meeting many of the security or privacy requirements set forth by regulatory bodies. This can save a lot of time and effort for a CFO, who can focus on other aspects of keeping the organization compliant.

So, there you have it! CFOs should love ISO 27001 because it can help protect the organization's finances, make their job easier, make the organization more marketable, and help with regulatory compliance. It may not be the most exciting topic, but ISO 27001 is definitely worth paying attention to. Lastly, CFOs if you can convince your CEO and board to implement it, you'll be a hero!

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