It’s no longer an option for businesses to ignore data protection
Data breaches can be absolutely devastating for businesses in the modern age, and the importance of cybersecurity and information security in general is only growing as technology becomes more advanced and more prominent in our lives. Not only that but with the more recent shift to remote work for millions of people, safeguarding sensitive data is now more difficult than ever.
Here are some of the key ways in which information security is absolutely vital for businesses across all industries.
There are new vulnerabilities all the time
A constant flow of new technology is, in many ways, a positive thing. Technological advances mean greater productivity and improved client-company relationships. However, as tech advances so too does cybercrime. New technology and software marks the arrival of fresh new vulnerabilities all the time. In fact, research shows that 80% of cyber security threats are made up of familiar risks to new technologies. So, when you’re using the latest tech, be sure to stay in the loop on any crucial updates that may boost security.
New regulations, and hefty fines
In 2018, new GDPR regulations overhauled the way companies use customer data in the EU and piled on the pressure to make sure said data is protected at all times. The consequences of not following these rules are hefty fines, with several high-profile incidents making headlines over the past three years. In the USA, GDPR’s guidance on fair use of data is supported by the likes of the US Privacy Act and more recent regulations such as the CCPA – or California Consumer Privacy Act.
This is ultimately a good thing, as it all works towards the wider goal of improved cybersecurity. However, it also puts a huge amount of pressure on businesses to make sure they’re following these rules to the letter.
The rise of the customer data management platform
A big part of cybersecurity, especially when it comes to customer relationships, is trust. Building trust is all about managing customer data in the right way, and these days customers are much more engaged with what happens to the data they provide.
We’re currently undergoing a significant shift in the way people think about their data and privacy, which is why solutions like a customer data management platform can be of great benefit to an organisation of any shape or size.
Internet of Things
The Internet of Things is transforming the way we carry out tasks, relying on the internet for data access and transfer. It means that even the most basic of appliances can now have a smart twist, ultimately making our lives easier. However, this new age of technology brings with it a set of hidden problems which can leave personal data at risk of exposure. The big issue with the IoT is that, should one device fall victim to a hacker, it’s very easy for the whole network to be put at risk.
Increasing information wars
Over the past two decades, people and businesses alike have been sharing and storing increasing amounts of financial and personal data online. Because of this, we’re all seeing more and more reports of data theft taking place on a global scale.
Confidential information being left unprotected online can leave businesses in an extremely vulnerable position, so taking steps to manage access and visibility is key. When emailing sensitive information within your business, make it part of your usual process to encrypt the files.
Fears of big data
It’s no secret that businesses and enterprises are currently handling more data than ever before. Yes, GDPR guidelines exist – now split into the UK GDPR and EU GDPR – but ultimately up to each individual business to protect their client information. With so many stories in the media about tech companies scraping sensitive information and using it in controversial or even unethical ways, the pressure is on responsible enterprises to show transparency and integrity when it comes to their own handling of data.