What is ISO-IEC 27036-5:2019?

ISO-IEC 27036-5:2019, or simply ISO 27036-5, is a technical standard that provides guidance for managing security risks in supplier relationships. It focuses on security issues arising from the exchange of information with third-party suppliers, such as outsourcing or cloud computing.

Why is ISO-IEC 27036-5 important?

With the increasing reliance on external suppliers for critical business functions, it becomes crucial to address security risks associated with these relationships. ISO 27036-5 helps organizations establish a structured approach for identifying, assessing, and managing these risks.

Key elements of ISO-IEC 27036-5

ISO 27036-5 emphasizes several key elements that organizations should consider when managing security risks in supplier relationships.

Firstly, it encourages organizations to establish a clear understanding of their information security requirements and clearly communicate them to suppliers.

Secondly, it highlights the importance of conducting regular assessments of suppliers' security measures to ensure compliance with organizational requirements and industry best practices.

Thirdly, it emphasizes the need for ongoing monitoring of supplier relationships to identify and address any emerging security risks.

Lastly, ISO 27036-5 emphasizes the importance of establishing effective communication channels with suppliers to facilitate prompt and efficient response to security incidents.

Benefits of adopting ISO-IEC 27036-5

Implementing ISO 27036-5 brings several benefits to organizations. Firstly, it helps create a consistent and robust framework for managing security risks in supplier relationships, reducing the likelihood of data breaches and other security incidents.

Secondly, it enhances organizations' ability to select reliable and trustworthy suppliers who prioritize security and demonstrate a proactive approach in managing risks.

Additionally, ISO 27036-5 enables organizations to enhance their reputation by demonstrating their commitment to safeguarding information and protecting customer interests.

Furthermore, compliance with ISO 27036-5 facilitates the establishment of effective risk management strategies and improves overall business resilience.