As the digital world evolves at a rapid pace, consumers are seeking a higher level of transparency to assess the safety of the data they share with online businesses and merchants. With consumers generating enormous amounts of data daily in today’s globally connected environment, concerns are rising about how companies collect, use, and safeguard personal data. Governments worldwide are enacting comprehensive legislation to guarantee the privacy and security of personal data in response to popular pressure. These include, but are not limited to, the California Consumer Privacy Act, the General Data Protection Regulation (GDPR), and the General Data Protection Law (LGPD) of Brazil (CCPA).
As an extension of the ISO 27001 regulatory guidelines, the ISO 27701 certification came into effect in August 2019 to help firms manage personal data in line with consumer expectations and comply with rapidly tightening regulatory requirements. Implementing an ISO 27701 Privacy Information Management System (PIMS) enables your organization to process personal data with utmost accountability and transparency.
New frameworks come with a whole set of additional questions, which is why we at Akitra have curated this blog to answer all your questions about the ISO 27701 compliance regulatory standard. Here, we will discuss what ISO 27701 entails, who should implement it, how it differs from its parent compliance standard, ISO 27001, and the benefits that ISO 27701 can provide in terms of safeguarding confidential information that your organization is privy to and operates with.
Let’s get started.
What is the ISO 27701 security guideline?
The ISO/IEC 27701:2019 is an extension of the pre-existing ISO 27001 regulatory framework that further supports data privacy. It is a recently released information security standard that guides businesses seeking to establish infrastructure to facilitate compliance with GDPR and other data privacy regulations. The ISO 27701 security guideline provides detailed guidance on data privacy management. Often also known as PIMS (Privacy Information Management System), it provides a framework for PII Controllers and PII Processors, which are typically referred to as PIMS for controllers and processors.
Strengthening an existing Information Security Management System reduces the risk to individuals and the organization’s privacy rights.
This standard is a great way to demonstrate to customers and stakeholders that GDPR and other related privacy laws are being complied with. Organizations wishing to obtain ISO 27701 certification for GDPR compliance must either already hold an ISO 27001 certification or apply for both ISO 27001 and ISO 27701 certification as part of a single implementation assessment.
Who Should Implement ISO 27701?
The ISO 27701 compliance certification was designed with PIMS for controllers and processors in mind. It is highly pertinent to this industry and is most useful when used by experts in these fields.
Organizations will be able to assess, respond to, and mitigate risks associated with collecting, managing, and processing personal information by implementing a Privacy Information Management System (PIMS) that complies with ISO 27701 criteria. Although certification to ISO 27701 does not prove that a company is legally compliant with GDPR, it can offer a useful foundation to further your cause in that endeavor.
Differences between ISO 27001 and ISO 27701
Similar to how ISO 27001 is regarded as the “gold standard” for information security management, ISO 27701 is expected to become the de facto benchmark for GDPR compliance. To ensure that industry-specific standards align with relevant operational requirements, the ISO 27701 compliance framework primarily focuses on addressing GDPR and other applicable requirements.
Although it aligns with GDPR, it also provides enterprises with the option to adopt the standard to incorporate other privacy laws, rules, and criteria. This makes it a fantastic choice for businesses of all sizes and across all industries that wish to demonstrate compliance with the GDPR’s “accountability” principle. It demonstrates accountability and knowledge of the specifications, enhances operational cost-effectiveness, and provides the benefits of ISO 27701 to the sector.
What Benefits Does ISO 27701 Provide for Businesses?
You can demonstrate compliance with a wide range of UK and international privacy legislation using the framework provided by ISO 27701.
Other reasons why you should consider getting ISO 27701 certification are as follows:
Demonstrate next-level data protection: One approach to demonstrating adherence to all pertinent data protection, confidentiality, and privacy security regulations is by utilizing the ISO 27701 compliance standard.
Cultivate trust when handling sensitive information: You can create trust when managing data with the help of ISO 27701. When you adhere to a global standard like Privacy Information Management System (PIMS), your partners, suppliers, and customers can trust your policies, procedures, and protocols.
Comply with the top information security guidelines: ISO 27701 is integrated with the highest information security standards. Implementing the ISO 27701 certification process ensures that compliance with other standards is not jeopardized.
Encourage adherence to other privacy laws: ISO 27701 benefits extend to meeting multiple global privacy frameworks, including those beyond GDPR.
Render compliance flexible for jurisdictional differences: If your business operates outside the EU, you can adapt PIMS for controllers and processors to align with ISO 27701, matching local laws.
Provide transparency amongst key stakeholders: ISO 27701 compliance fosters trust by making privacy processes transparent.
Enable successful business deals: Following ISO 27701 fosters trust during partnerships, particularly when sharing sensitive data.
Security, AI Risk Management, and Compliance with Akitra!
In the competitive landscape of SaaS businesses, trust is paramount amidst data breaches and privacy concerns. Akitra addresses this need with its leading AI-powered Compliance Automation platform. Our platform empowers customers to prevent sensitive data disclosure and mitigate risks, meeting the expectations of customers and partners in the rapidly evolving landscape of data security and compliance. Through automated evidence collection and continuous monitoring, paired with customizable policies, Akitra ensures organizations are compliance-ready for various frameworks such as SOC 1, SOC 2, HIPAA, GDPR, PCI DSS, ISO 27001, ISO 27701, ISO 27017, ISO 27018, ISO 9001, ISO 13485, ISO 42001, NIST 800-53, NIST 800-171, NIST AI RMF, FedRAMP, CCPA, CMMC, SOX ITGC, and more such as CIS AWS Foundations Benchmark, Australian ISM and Essential Eight etc. In addition, companies can use Akitra’s Risk Management product for overall risk management using quantitative methodologies such as Factorial Analysis of Information Risks (FAIR) and qualitative methods, including NIST-based for your company, Vulnerability Assessment and Pen Testing services, Third Party Vendor Risk Management, Trust Center, and AI-based Automated Questionnaire Response product to streamline and expedite security questionnaire response processes, delivering huge cost savings. Our compliance and security experts provide customized guidance to navigate the end-to-end compliance process confidently. Last but not least, we have also developed a resource hub called Akitra Academy, which offers easy-to-learn short video courses on security, compliance, and related topics of immense significance for today’s fast-growing companies.
Our solution offers substantial time and cost savings, including discounted audit fees, enabling fast and cost-effective compliance certification. Customers achieve continuous compliance as they grow, becoming certified under multiple frameworks through a single automation platform.
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FAQs
Why is ISO 27701 important?
It helps organizations manage personal data securely, comply with privacy laws, and build customer trust.
Who needs ISO 27701 certification?
Any organization handling personal data, such as IT, healthcare, finance, or SaaS companies, can benefit from it.
How does ISO 27701 relate to GDPR?
ISO 27701 aligns with GDPR requirements, helping companies demonstrate compliance with data protection regulations.
What are the benefits of ISO 27701?
It improves data privacy, reduces compliance risks, and provides a structured framework for handling personal data.
