In a few hours, after the latest Facebook outage, CEO Mark Zuckerberg lost about $7 billion(1)! With Facebook not issuing an official announcement on the cause of the outage, many theories are being floated online. Most of this speculation is about a data breach – another chilling reminder of what is at stake, in the event of security breaches at major businesses and government agencies. But small and medium-sized businesses aren’t immune to attacks either. According to a study(2), almost a third of data breaches in 2020 involved small businesses. As a result, the number of regulations and regulatory bodies has increased significantly. So, there is a need to consolidate regulatory requirements, and align with a key, globally accepted framework: ISO 27001.
What is ISO 27001 and who needs it
Formulated by the International Organization for Standardization, in conjunction with the International Electrotechnical Commission, ISO 27001 is a blueprint to manage information security. This comprehensive framework includes security policies, directives to mitigate risks, remediation procedures, and training for cybersecurity professionals. ISO 27001 certified companies are often adept at risk assessment, information classification, policies, reporting, and access control; among other critical aspects related to Information Security Management Systems (ISMS).
With digitalization generating vast amounts of data across industries – the need for efficient ISMS is paramount. Additionally, industry and region specific compliance – like Payment Card Industry Data Security Standard (PCI-DSS) and Abu Dhabi Healthcare Information and Cyber Security (ADHICS) – add to requirements. For a fintech or healthcare organization, an ISO 27001 certification lays a strong foundation for ancillary compliances thereafter. Likewise, given the current regulatory environment and increased threat of cyberattacks, ISO 27001 certification is essential, regardless of industry and business size.
Methodical approach to successful ISO 27001 compliance
MAST Consulting’s full-suite solution for ISO 27001 compliance includes the preliminary development of a business case, which enables you to get all the pre-requisites in order, and secure required investments. This is followed by a series of meetings and consultations, leading to a compliance roadmap. Our consultants will then assist in the implementation and provide hand-holding services, until certification. Our life-cycle compliance services include but are not limited to:
- ISO 27001 training entails and assessment of its suitability as per the size and nature of the business
- Thorough assessment of ISMS to determine readiness, existing challenges, and scope for improvements
- Timely and effective internal audit to review compliance with all mandatory regulations
- Enabling efficient remediation and documentation
- Round-the-clock monitoring and optimizing of ISMS
- Exploring how to leverage the benefits of ISO 27001 certification
Compliance is conducive to competitiveness
ISO 27001 compliance is in line with stringent laws like the General Data Protection Regulation (GDPR). Non-compliance leading to data breaches and financial fallouts often merits exorbitant fines. For a certified company, compliance means respite from legal ramifications and financial loss. Furthermore, ISO 27001 certification safeguards business reputation, empowering the management to accomplish growth targets through stakeholder confidence and customer trust. At a time when customer awareness of data security is at its zenith, demonstrable compliance has a direct bearing on product/service differentiation.
At MAST Consulting, we have registered incremental value through clients’ ISO 27001 compliance. Certified clients have enhanced their global acceptance and competitiveness, scaling their services and expanding their customer portfolios. Concurrently, they have reduced the need for frequent internal audits and verifications. Best-in-class security postures and flexibility maximize opportunity for growth, justifying the initial investment. As the complexities of cybersecurity evolve, we believe the consensus for greater compliance will only continue to grow.
- https://www.bloomberg.com/news/articles/2021-10-04/zuckerberg-loses-7-billion-in-hours-as-facebook-plunges
- https://enterprise.verizon.com/resources/reports/2021-data-breach-investigations-report.pdf
About S Kumar Subramania
As the Senior Vice President at MAST Consulting, part of the MAST Consulting Group, S Kumar Subramania brings 30+ years of rich industry experience to the table, including 15 years in leadership roles. Kumar channels his decades of expertise and extensive knowledge towards the organization’s core interests; including, but not limited to, effective digital adoption and top-tier consulting.
A highly respected senior leader within the technology and consulting space, Kumar is equally at ease with architecting pertinent solutions as he is with strategic business consulting. Kumar’s key strength lies in successfully transforming innovative ideas from concept to reality, and further into a thriving, robust business. A key example of his strategic leadership capabilities was Kumar’s tenure with Veeras Infotek Private Limited UAE, where he was pivotal in the company’s growth and eventual integration with Hitachi Systems Micro Clinic in 2018. Following the successful integration, he went on to become the General Manager of the parent company.
With a focus on building “organizations” rather than “businesses”, Kumar’s stellar career track record underscores his ability to not only develop innovative business models that lead ideas from concept to market, but also ensure their ongoing growth with a strict emphasis on people, processes and a healthy sustainable P & L.
Along with industry certifications like ISO/IEC 27001 Lead Auditor certification, and the Prince2 Certification, Kumar’s tech and consulting strengths extend across Innovative Solutions Design & Framework Architecture; Sustainability Consulting; Financial Planning, Audits & Assessments; Quality Assurance; Project Cost Control, Resource Augmentation, and more.
Armed with an entrepreneurial DNA and a deep understanding of the Middle East market, Kumar brings a culture of excellence and success to his current role at MAST Consulting, and will be guiding the organization through its next growth phase, expanding its client portfolio and influence across multiple industries.
About MAST Consulting and MAST Consulting Group
A profitable home-grown UAE start-up, with a global footprint, MAST Consulting is a technology advisory and consulting firm headquartered in the UAE, with unique expertise in driving the end-to-end digital transformation of businesses, across sectors. With over 100 clients in the Middle East, the Indian subcontinent, and Africa, and over 80 years of cumulative global experience, MAST Consulting brings best practices from the consulting and the technology world under one umbrella. The company’s client portfolio includes an impressive list of market leaders, namely Panasonic, Hitachi, DIFC, Al Futtaim, Dubai Holding and Danube, among others.
MAST Consulting services are crafted to offer Consulting and Advisory Services on Critical Infrastructure and Risk associated functions of the organization, with their service coverage area starting right from IT Infrastructure all the way to Data Center, Business Application and a secure computing environment. The company offers end-to-end solutions to enterprises focused on Digital Transformation , Customer Experience, Enterprise Risk management (People, Process & Technology), Data Center Infrastructure (distributed and hybrid), Cloud adoption, Sustainability governance and more.
The USP of MAST Consulting lies in its ability to help businesses from Concept to Realization – all the way from providing a roadmap to businesses for their digital transformation journey to assisting those that require further support by recommending third party vendors and solutions, as well as helping with the implementation of those solutions. The Services division supports the Consulting practice with managed services, resource augmentation services, strategy, marketing, and advanced analytics, across all major industry verticals.
The company is now also looking to integrate AI-led insights and automation into their solutions, along with launching tech-led convenience services in the B2C and B2B space in the form of MAST DigitALL, MAST B2B, MAST Connect as well as an Insights division.
MAST Consulting is a part of the MAST Consulting Group, a UAE-based holding company comprising MAST Consulting, MAS Tech General Trading LLC and MAST Advisory Services, together offering a gamut of services, from consulting to system integration as well as feasibility advisory. Across industries like automotive, healthcare, construction, FMCG, trading, hospitality, F&B, and more, the MAST Consulting Group of Companies offer quick and effective solutions to enterprises for their varied needs, ranging from resource optimization to identifying and plugging revenue leakage sources; from modernization of the business to driving optimum ROI and result.
