With increasing legislation around protecting data and reporting breaches, companies are now mandated that they put in place the correct procedures, personnel and technologies within their organisations for compliance. It can be a significant challenge for companies if they fail to comply with the legislation. New laws across the world are revealing data breaches that would otherwise have stayed unknown.
For instance, unauthorised activity noticed in a company’s computer systems was detected by PageUp, an Australian company. The firm promptly announced the data breach and employed technology professionals to address the issue. Earlier that year, Australia had introduced the notifiable data breaches scheme in February. Some industry experts opine that had it not been for the new law in place, companies would not have declared if data breaches had occurred. Now, according to government reports, over 63 data breaches were announced in the latest quarterly statistics, which goes to show how legislation is introducing transparency and forthrightness for the benefit of consumers.
Document breaches or data infringement is not just a security breach; it erodes the form of loyalty and confidence of customers and impacts future business. Although, it has not been declared how much PageUp had to spend to resolve the data breach in their company, given the average global cost of data breaches, a reasonable starting point would be approximately US$ 3 million.
And not just in Australia alone, but across the world, data, document and PDF protection has become increasingly stringent thanks to privacy regulations and data protection laws. Companies today are now obliged to secure data within their organisations under the new legislation and protect the rights of the people. Customers today can access their data and have it amended or deleted according to Europe’s General Data Protection Regulation (GDPR). Today, customers can be assured of being better informed about their data being stored and used by organisations.
Every organisation has complex information networks and data processing systems including file shares, databases, business systems and more. Since privacy laws and global compliance regarding data is no longer optional, it is essential that every company be prepared in advance and act in accordance with compliance. Every organisation that boasts of customer trust and has robust security measures in place can use them as a competitive advantage. However, to work towards it, it begins with safeguarding internal data.
Storing personal information across a wide range of systems in a company can be a lengthy procedure. This is because data stored in various repositories that are shared or private need to be secured while at the same time being accessible easily to those who need it. Companies must bear in mind how they can effectively collect all the information, without having to compromise on data security and efficiency. Ideally, the right processes, employee competence and appropriate technology can be the solution.
The right data protection plan can ensure that an organisation’s documents are effectively tracked, controlled and secured. Apart from having a document protection solution in place, organisations must also ensure that their password policies, documentation formats, and delivery mechanisms to distribute data are under control.
Organisations must be clear of the objectives for securing the data within the various departments. They need to consider the multiple technologies that can work towards their goals or achievements. For instance, if an organisation is concerned with transmitting classified data from one point to another and assured that the recipient is trustworthy, then, simple encryption can be the right tool for the company.
On the other hand, if a document needs to be modified and you need to track the authorisation of the content in the report, the company can opt for a document collaboration system. Alternatively, if companies are looking to ensure that their documents and PDF files are not shared with anyone while at the same time ensuring that they are not misused or misplaced, a DRM solution can be the right option.
As can be seen in data breaches across the world, unprotected content can be easily infiltrated, copied and duplicated in a matter of seconds. This can make documents in any organisation extremely vulnerable to theft. To avoid the potential fallout of a document breach or data theft that can call for expensive legal action, irreversible damage to a company’s name and reputation, erosion of customer trust and eventually, overall losses, every business must look into employing the right document and PDF security solution.
A document security management and protection system through encryption, collaboration and data rights management (DRM) can help companies achieve data security. With military-grade encryption, document and PDF files are secured at all times regardless of who is accessing the content through any device.