Did you know that in the amount of time it takes you to brush your teeth there will have been 6,000 records compromised? The rate of data breaches in 2015 was the highest ever recorded and 2016 will surpass it. One of the main causes of these breaches is little to no data encryption.
In 2015, digital security firm Gemalto released the Breach Level Index database report. They discovered there were 707 million records breached worldwide. The majority these encroachments were identity theft and they targeted: healthcare, government, financial, and retail sectors.
The core reason for data breaches was failure to encrypt. “… [T]hrough encryption technology is widely known as a means of protecting data from exposure, only 60 of the data breach incidents in 2015, (less than 4% of the total), involved data that was encrypted in part or in full.” A good way for organizations to protect themselves and encrypt their data is by adopting a solid Enterprise Content Management (ECM) system.
ECM’s provide multi-layered protection against breaches while providing encryption.
ECMS PROTECTS DATA IN A CENTRALIZED DATABASE WHERE SECURITY IS AUTOMATED THROUGH STANDARDIZATION.
If you have the correct content structure in place, you can protect areas that need security like HR and accounting while giving open access to content that is not a security risk such as marketing and product knowledge.
ECMS ONLY ALLOWS SECURITY ACCESS TO THOSE WITH PERMISSION.
ECMs ensure employees with only the right security authorizations have access to critical data. Automated workflows for approvals, electronic signatures and other required documentation increase efficiency without opening your company to vulnerabilities. You don’t want someone working in marketing accidentally emailed information on payroll; a well-designed ECM will prevent this automatically.
ECMS CONTROL WORKFLOW AND HELP CONTROL AGAINST INTERNAL SECURITY THREATS.
With the proper workflow rules in place, an ECM can automatically alert the proper parties of a potential data breach. For example, the head of HR starts downloading payroll information at 7pm on a Saturday without prior approval. Your ECM will notify you immediately and you can take the proper actions as you see fit.
ECMS ALLOW FOR SAFE REMOTE ACCESS.
When employees access information from any remote device the data remains secure and encrypted. Perhaps you have decided to go to the Bahamas but still want to approve workflow processes? An ECM is your safety net. It will allow you to connect and work from anywhere on any tablet, phone, or laptop.
ECMs save money. A new study came out recently that compared 350 companies worldwide with the amount of data breaches they experienced in 2014 versus 2015. Unsurprisingly, the study, 2015 Cost of Data Breach Study: Global Analysis, discovered “…the average total cost of a data breach … increased from $3.52 to $3.79 million.” Breaking this amount down, the average cost paid for a stolen record increased from $145 in 2014 to $154 in 2015.
ECMs benefit any field of business to remain relevant. From law offices, to banks, to multinational not-for-profits, any organization can use and benefit from incorporating an ECM. BluePoint Solutions, a financial technology solutions and consulting agency stated in their white paper “Are you Prepared for a Data Breach?” that ECMs are “… a key technological tool for institutions looking to secure their member data and to remain relevant in the rapid evolution of content that will soon leave institutions still relying on paper in the dust.”
Ready to protect your company with an ECM? Act now to ensure you have a solid ECM environment in place with both the people and technology to support it. You can’t afford the pain, hassle or price of a security breach.