These are the top three reasons why it is required …

In a rapidly evolving digital world, data protection has become a requirement that organizations of all sizes and industries can no longer afford to ignore. These are three of the main reasons why data protection is essential for every organization.

Avoid security breaches

Security breaches are costly and have detrimental effects on any organization; Damages caused can include not only legal liabilities to customers and partners, but also loss of consumer trust and brand reputation, as well as government fines for breaches of privacy regulations. As the amount of digital data continues to expand at an unprecedented rate, so does its value, and the challenge of keeping it safe. Consumers are increasingly aware of how valuable their personal information can be, as well as the dangers of it being leaked. In addition to customer data, company intellectual property or trade secrets are also at risk.

While there is an ongoing debate about whether insiders or outsiders pose a greater threat to sensitive data, what is clear is that given the increasing number of high-profile data breaches, companies need a proactive approach. to safeguard confidential data.

Ensuring business continuity

Data is among the most important assets a business has. Any information stored by an organization, from financial data and payment details to customer contact information, must be properly protected. Threats to business continuity that put sensitive data at risk come in many different forms, including cyberattacks and security incidents, but also disaster risks, data outages, and regulatory changes.

Consumers are becoming more privacy conscious, and organizations must commit to protecting consumer data to maintain and enhance their brand equity, to demonstrate transparency and reliability, and to strengthen and grow their business. . By being aware of the dangers and taking reasonable precautions, companies can substantially reduce the chances that a business continuity threat will disrupt the organization.

Meet compliance requirements

Governments around the world are implementing new regulations on how confidential customer information such as name, address, credit card number, etc. can be collected, stored and used. The General Data Protection Regulation (GDPR) of the European Union has prompted the emergence of data protection laws globally, including Brazil, California, Thailand, and India. Influenced by GDPR, India’s Personal Data Protection Bill 2018 (PDPB) proposes to regulate the processing of people’s personal data by incorporated governmental and private entities in India and abroad. The framework also sets out how to collect, process and store personal data.

Data privacy laws and regulations put further pressure on companies to be more accountable, more accountable, and more transparent. Organizations that fail to protect confidential information risk substantial fines and lose valuable business relationships through non-compliance.

There are many ways to protect sensitive data, including employee education and hardware and software solutions. Since no standalone method offers a comprehensive data security solution, it is important that companies understand their vulnerabilities and protect themselves accordingly.

Mr. Filip Cotfas is the Channel Manager for CoSoSys, which is a developer of endpoint-focused data loss prevention (DLP) solutions and security software.

Find our entire collection of Chandrayaan 2 Moon Mission stories, in-depth analysis, live updates, videos and more on our dedicated domain # Chandrayaan2TheMoon.