Why Data Protection is Important for Businesses

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Data is an incredibly important asset, and collecting and sharing data can be big business in today’s digital economy. However, in order for a company to profit from the data it collects, it must have measures in place to ensure that data is kept secure and that customers are not subjected to unwanted surveillance.

As businesses collect greater amounts of data on their customers, those customers have started to identify the potential drawbacks of this data collection. Data privacy is more important than ever before, and businesses should pay close attention to their data privacy policies and processes for a number of reasons.

What is it about your business’s data that makes it so appealing? Whether you’re a big manufacturer, a small retail store, a healthcare provider, a school, or a charitable organisation, you have sensitive data that hackers can benefit from, and that data is spread across your organisation.

Types of Data to be protected in an Organisation:

1. Human Resources related data:

Every business other than self-employed individuals has employees, which, by definition, means that they have access to sensitive human resource information. While most people understand that payroll data and other records containing personal information must be protected, many people overlook the importance of providing sufficient protection for communications about project performance and other materials that could be extremely damaging to a company if they were to leak. Such HR-related data can be found in a variety of formats, and hackers can use it to social engineer their way into a company.

2. Legal Data:

Whether it results from user error or a targeted, malicious attack, a breach of sensitive legal data can rack up costly fines and fees, while damaging your company’s reputation and eroding your clients’ sense of trust. Additionally, much like the executive team, legal departments are entrusted with contract details and sensitive strategic information.

3. Social Media Accounts:

There are several dangers associated with using social media accounts. Many firms do not have any system configured to provide them with real-time alerts if something potentially dangerous is somehow posted – which might be the first sign of a breach. Social media credentials are often used to authenticate to various services and to verify one’s identity to others, making it even more critical to secure social media accounts. Many businesses, however, fail to audit who has access to these critical resources, not just in terms of people, but also in terms of which applications have been granted access rights.

4. Financial Data:

This can include your internal accounting information, company credit cards and other sensitive financial documents, or customer financial data. If you process credit card transactions for customers, for example, those credit card numbers can be batch sold on the black market. Since hackers realize banks proactively monitor activity for suspicious transactions, they target massive stores of credit card information to make their efforts worthwhile.

Top 4 Ways to Protect Your Data

There are several security practises you can implement in your current role and workspace to protect yourself, your data, and your company’s data from prying eyes and malicious scams.

Here are a few simple ways to improve security in your role without needing permission.

  • Knowing where data is and where it’s going:

One of the most crucial steps towards efficient data protection is knowing exactly what data is being stored and where.  Companies can make informed decisions about the measures they need to take to protect their data flow by precisely identifying its vulnerable points.

  • Firewalls:

Utilities that enable you to monitor and filter network traffic. You can use firewalls to ensure that only authorized users are allowed to access or transfer data.

  • Send files (in and out of network) securely:

If you need to send a file to someone on your network or a remote network, always do so securely. To protect critical company data, use a controlled file transfer service.

  • Educating employees at all levels:

The human factor is often the most vulnerable link in the data protection chain. Whether as a result of ignorance or negligence. Large organisations guarantee that staff are kept up to date on compliance standards and internal cybersecurity rules, as well as giving training and clear guidelines for those who come into contact with the most sensitive forms of data.

Focusing on data protection and  security has never been more important for businesses. No amount of anti-virus or firewall protection can completely stop data from being exposed. Whilst software’s cannot prevent data from moving, leaks or abuse – you can secure it wherever it is. That’s where Siccura comes in. Siccura is a simple to use software solution that helps you secure, control and track what happens to all types of business data, and increase employee awareness to mitigate the risks. Siccura is the Ultimate solution for data security and control. The primary focus is to help businesses mitigate risks, and reduce chances of data escaping from employees or by cyberattackers.

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