TRY OUR COMPLETELY FREE COST BENEFIT ANALYSIS TOOL

Could ISO certification benefit your business and help you achieve your wider goals? Yes, implementing a Standard, or indeed more than one, is certainly desirable. However, is this investment worthwhile?

We’ve developed this tool to help you to answer this exact question. 

Is ISO Certification worth it? might be one of those million dollar questions but in reality it’s more of a “work in, work out” answer. The benefits that are gained will vary greatly on the ISO Standard that you implement and the amount of effort you put into improving the management system. But some of the benefits are not immediately obvious as they can be harder to quantify.

Please note that there are two spreadsheets - one for ISO 9001, 14001 and 45001, and then a separate one for ISO 27001.

USING OUR COST BENEFIT ANALYSIS TOOL

Due to the nature of ISOs, it can be difficult to work out whether it’s cost-effective - many of the costs fall into the ‘it depends’ category (it depends on your company size, sector, risks, etc) and the benefits will depend on many things so can only be estimated.

Accepting all this, we’ve tried to help you put together a rough-and-ready calculation to address the main areas of becoming ISO certified. 

The idea is, at the end of the process, you can see the overall costs and compare these with the overall benefits, in the context of both one-off and ongoing costs and benefits, and how ISOs might benefit you (or not) in the long term.

The downloadable CBA Tool and accompanying guide on the right will quickly get you underway populating the Cost Benefit Analysis spreadsheet.
Click the picture on the right to download the Cost Benefit Analysis Tool spreadsheet for the ISO 9001, 14001 and 45001 standards.
Click the picture on the right to download the guidance document for the Cost Benefit Analysis Tool for ISO 9001, 14001 and 45001 standards.
Click the picture on the right to download the Cost Benefit Analysis Tool spreadsheet for the ISO 27001 information security standard ONLY.
Click the picture on the right to download the guidance document for the Cost Benefit Analysis Tool for the ISO 27001 information security standard ONLY.
As the accepted global benchmark for the effective management of information assets, ISO 27001 enables organisations to avoid the potentially devastating financial losses caused by data breaches.

The more focus you place on process improvements the more benefit you will gain, the ISO 27001 standard is all about continual improvement.

The global average cost of a data breach has skyrocketed to £3.13 million (a 6.4% increase from 2017), according to Ponemon.

You can estimate how much time and money you have saved and see the value from this perspective.