Data is among the most valuable assets a business can have, making it no small wonder that company owners must go to significant lengths to protect it.
Data security entails putting systems in place to prevent unauthorized access to data or its corruption. As intellectual property, data should be subjected to the same protection levels as any other business asset. Here is why your company needs to implement data security measures today:
Data breaches are on the increase
You need only consult the news to know that data breaches are becoming more common. Hackers are finding new ways to test even the most secure data systems, leaving them vulnerable to theft.
December 2020’s SolarWinds hack has left thousands of government departments, multi-million-dollar corporations, and educational institutions, among others, struggling to understand how an event like this could have occurred virtually undetected.
There is still no clarity on how many people’s emails were monitored and what the information gleaned from their accounts and the files attached to their correspondence will be used for.
Without protocols for secure cloud file transfers in place, your company could suffer the same fate. GoAnywhere provides a secure, managed file transfer system, allowing for the safe transfer of files and data between systems, users, and other role players.
Data breaches have long-term implications
A data breach at your company could have severe consequences. Once it becomes known that it has occurred, customers, suppliers, and other stakeholders could lose faith in the company. Their lack of trust will become a matter of public record. Even the smallest of businesses can feel this impact.
For example, customers might write critical reviews of your company because a data breach affected them personally. This type of reputational damage can take years to mend at best or cause the closure of a business at worst.
Additionally, a company might face legal implications for data breaches if it is proven that there was negligent behavior toward data protection. The legal costs of defending such action alone will be crippling, and there could also be cost orders for damages if affected persons or organizations claim civil damages.
Data integrity is essential for business success
When data is corrupted, its reliability and accuracy can no longer be guaranteed. For data to retain its integrity, there should be no interference from external sources that could compromise its completeness and content. Critical business decisions are made using data. These range from financial projections to operational matters. Without clean data, it is easy to make poor choices that could affect your company’s profitability.
Choices made based on corrupted data can have long-term effects, including a business shutting its doors permanently. Competitors with accurate data will decide on future actions that could squeeze your company out of the market.
Utilize data security measures such as centralizing data storage and placing it on different servers. This works as an effective, secure backup measure to protect data integrity.
Some hackers specialize in multiple attacks
Unsurprisingly, hackers’ techniques have improved at a pace with technological advances. They spend hours perfecting their craft and have no qualms about practicing their skills on organizations. Many hackers target small-to-medium enterprises because their data security tends to be weaker than that of large corporations.
Hackers can now automate their hacking attempts in a technique called bot attacks. This allows these computer criminals to perpetrate continuous hack attempts until they penetrate your data security.
Bot attacks are also used as a distraction, diverting a cybersecurity team’s attention in an act much like a magician’s sleight of hand. They get you looking at one aspect of your data security while attacking another.