In this age of digitalization, data protection is a must for all organizations. During 2020, we have already witnessed that if data protection is not done properly, companies will face consequences in the form of hacking, phishing, ransomware, etc,. Unfortunately, this harmful trend is not going to stop rather it will stay for a longer time period.
Considering the importance of cybersecurity, the good thing is that companies have started taking precautionary measures. They are using cybersecurity tools like VPNs that help them protect their customers’ data appropriately.
This way, they can also safeguard their employees’ digital footprints who are working remotely from anywhere. Besides, they can evade various cyber risks proactively.
That said, this post will describe why data protection is crucial and how organizations can protect their corporate data including customers’ information in 2021 and beyond.
Why is data protection important?
Companies or organizations whether they are small or big ones cannot survive without safeguarding their crucial business data these days. Here are the three main reasons why companies protect their business data accordingly.
These main reasons are:
- Ensure business continuity
- Prevent unauthorized access
- Protect against data breaches and other issues
Ensure business continuity
There is no denying that business continuity is largely dependent on data protection. When companies apply security measures such as data backup, updation of corporate devices security wise, use of advanced security tools like email encryption software, etc. they can easily secure their core business functions and continue performing their day-to-day operations in the right manner.
Prevent unauthorized access
When organizations safeguard their resources like computers, laptops, and other smart devices, they can keep various notorious elements at bay online.
Moreover, they should protect their other sensitive assets like official websites, personal identifiable information of their employees, etc. accordingly. Hence, hackers and other cyber goons cannot access such important information and companies can work according to their long term goals or vision without any hassle.
Protect against data breaches and other issues
Data protection tactics allow organizations to secure themselves from various issues including financial costs, impact on future growth in terms of profits and expansions, loss of public trust, damaged brand reputation, regulatory or legal problems related to breaches, and so on.
In a nutshell, data has become a lifeline for organizations and without protecting it appropriately, they cannot grow in the future successfully.
What data needs to be safeguarded?
Businesses usually store different information related to their customers like customer details including personal information like bank account number, email address, contact no, etc.
They have to protect their customers’ valuable data so that they do not have to deal with online frauds like phishing scams, identity theft, etc. Here is the list that includes common data businesses store in their databases regularly:
- Financial information (bank name, account no, credit card details)
- Email address
- Residential address
- Miscellaneous information
How organizations or companies can fulfill their responsibility with regards to data protection?
Different data protection laws like GDPR, LGPD, CCPA, and others have compelled organizations or companies to give importance to their customers’ data as much as they can. However, they can still take different cybersecurity measures to protect their customers’ data. These steps include:
- Provide basic cybersecurity to your employees
- Improve endpoint security organization wide
- Update all your official devices regularly
- Consider cybersecurity a long term activity
Provide basic cybersecurity to your employees
Being an employer, you are supposed to train your employees regarding cybersecurity. For that reason, you can ask your information security department to play its crucial role in a diligent manner.
The department should help employees use encryption software like BitLocker, FileVault2, etc. to prevent their official computers, laptops and other devices from hacking, privacy invasion, malware and other risks.
Apply endpoint security organization wide
Endpoint security is a process by which organizations can protect endpoints of their official devices such as desktops, laptops, tablets, and others from the prying eyes of hackers, scammers, and other cybercriminals.
Furthermore, this whole activity should be conducted throughout the organization without any descrimination.
Update all your official devices regularly
There is no harm in updating your devices such as desktops, laptops, and other smart devices as and when required. This way, you can keep your official resources secure and comprehensively protect them from different cyber risks.
Consider cybersecurity a long term activity
Organizations should not perceive cybersecurity as a one-time activity. Otherwise, they should prepare themselves to face various cyber issues like data theft, phishing attacks, ransomware, etc.
Cyber issues aside, they can lose a handsome amount of money if they keep performing cybersecurity on an occasional basis.
Summing up, data protection is critical when it comes to expanding businesses online. Employers cannot underestimate the significance of data protection at any cost. This is because customers prefer to buy products or services from companies committed to data protection.
In short, data protection has become the need of the hour. Otherwise, companies or organizations will not grow or get success in the future.
The whole scenario indicates that cybersecurity will be the key for companies to protect themselves against various cyber risks like data theft, privacy invasion, phishing attacks, etc., in 2021 and beyond.