In this digital age, many of us have accepted the reality of storing personal data online. In fact, even though we realize that so much of our personal data—social security numbers, credit card information, and more—lives online in the databases of companies, government agencies, and other businesses, we do not give it much thought…until a major company experiences a data breach. Then, quickly and surely, we are reminded that the security of those systems which store our personal information are not foolproof. If they are not protected, we are at risk.
This is not only a reminder to us on a personal level, but also a reminder of the responsibilities of our businesses to ensure the protection of both our employees and our customers.
Consider what occurred in 2013 when Target experienced a massive data breach during the holiday shopping season. More than 70 million people were affected—and close to 61 million people had personal data that was stolen. A 2015 settlement agreement for a class-action lawsuit cost the company $10 million. Even to say these kinds of situations are enormously detrimental to a business would be an understatement. The second a breach occurs and data is compromised, millions of dollars can be lost from failed transactions, low sales resulting from a lack of trust in the company by consumers, and costs incurred in lawsuits and settlements. Beyond the financial repercussions, the damage to a company’s reputation can be long-lasting and difficult to overcome.
With data privacy now a critical issue for businesses, how can you ensure your company is doing enough to protect the personal data of your consumers and employees?
To start, have your business network assessed by an IT solution company. A comprehensive network assessment by data security professionals can help you expose risks and issues before they result in a major problem, allowing you to strengthen and secure your network and protect against a data breach. Then, invest in a data security solution that can best meet the unique needs of your business. Never underestimate how critical it is for your business to ensure it is using secure data storage and networking solutions.
Call the IT professionals at CHI Corporation today to learn how you can protect your business against a data breach.
