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ISO 27001: Value generation through better security

Giving clients, users and other stakeholders assurances that their data is secure adds significant value to a company’s offerings and generates an important value-add for any product. One of the most effective ways for data-centric and technology-focused companies like IQAX to provide these assurances is with world-class security features recognized with a top global certification.

IQAX’s products TrackIt and Velocity have been granted ISO 27001 certification, underscoring their alignment with best practices and the advanced security protocols that underpin them. The International Organization for Standardization (ISO) certification is a global hallmark and standard for information security management systems.

With cyber security threats and risks on the rise and breaches happening on a more frequent basis, it is increasingly important for systems to be secure, particularly systems that deal with a lot of data that is often sensitive.

IQAX Velocity logistics operations optimizer is an on-premise and cloud-based management solution to streamline processes and ensure they are up to par with operational objectives. IQAX TrackIt is a predictive solution for real-time tracking of vessels and cargo.

The ISO 27001 certification is based on an organization’s ability to manage the security of digital assets such as financial information, intellectual property, employee or client details or information entrusted by third parties. It is proof that a system has the best practices and protocols in place to protect and prevent against cyber threats.

While compliance with ISO 27001 is voluntary, the certification is essential at a time when almost any activity leaves a data trail. Accounting and consulting firm EY, for instance, performs its EY CertifyPoint information security audits against the ISO 27001 benchmark.

Value through cybersecurity credibility

The ISO 27001 certification does not only boost the credibility of IQAX’s products and solutions, but also adds value to the companies and organizations that use them.

The risks of not having world class security are not always quantifiable and neither are the benefits, but both can be quite significant.

“In my opinion, it does not matter if you are not able to quantify these internal and external benefits as long as you understand (and can analyse) that there is definitely qualitatively more you are getting out of that piece of paper on the wall,” said Jatin Sehgal, cyber security partner at EY, in a note.

Besides enhanced security, the ISO 27001 certification gives products an international stamp of approval and shows users’ commitment to data security. The certification helps IQAX customers with their own compliance and risk management.

And this is important because better security can generate substantial cost savings. A report by IBM and the Penemon Institute found that the average cost from a cyber breach in 2020 was US$3.86 million.

At the same time, the ISO 27001 certification can add to the value of a brand, drive sales, boost demand for a company’s products, lead to more client and employee satisfaction, boost stakeholder confidence, increase trust in an organization, reduce the number of expensive security incidents, minimize outages and disruptions, improve supply chain security and better align operations across geographies and entities, Sehgal wrote.

Ultimately, working with IQAX certified products helps customers stand out thanks to accredited tools. This is particularly important in heavily regulated industries such as shipping and logistics. Solutions that are compliance-ready are key to business success.

End customers and investors are increasingly aware of the pressing need for cybersecurity. Both are more likely to reward firms that take a proactive stance. Better protection also leads to greater customer satisfaction, more protection for everyone and, in turn, greater numbers of users and higher revenues.

IQAX respects your privacy and is committed to protecting it. For more information, read IQAX's Privacy Statement

IQAX respects your privacy and is committed to protecting it. For more information, read IQAX's Privacy Statement.