Why You Should Know More About Data Security Policy

by | Dec 1, 2014 | Business Continuity, Security

Does Your Business Have a Data Security Policy?

Is data security policy important? We think so, and we really can’t understate the importance of knowing more about it.

The main thing that data security policy prevents is data breach. The problem is that some businesses still don’t understand just how costly data breach can be. It happens all the time to unsuspecting businesses that don’t have an adequate level of data security. IBM’s 2014 Cost of Data Breach Study proves just how detrimental data breach is to businesses’ finances with these two statistics:

  • The average total organizational cost of data breach over two years in the US was $5.85 million in 2014, up from $5.4 million in 2013.
  • The average per capita cost of data breach over two years in the US was $201 in 2014, up from $188 in 2013.

If your business doesn’t have money to throw around to cover up losses incurred by data breach, then data security policy is of the utmost importance.

It’s also important to have an updated data security policy because there are always new trends developing that call for appropriate regulations. You may have heard of Bring Your Own Device (BYOD), which poses a big threat to businesses. Essentially, many businesses are allowing employees to use their own laptops, smartphones, and laptops for work. This might save on hardware expenses but it may also lead to data breach if the devices are secured. Data policy has to be updated to cover topics such as this.

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And finally, data security policy is important because it tells employees exactly which files they’re allowed to access and share and which ones are off-limits. This sends a clear message from management to employees that can’t be confused or distorted. This may even prevent unsafe practices since employees can refer back to the policy before sharing certain files.

Data security policy isn’t something that businesses should gloss over. It’s one of the main tools a company can use to prevent data breach. Businesses should take advantage of this by laying out a clear policy that informs and educates employees about data security.

To talk more about this, or anything else, please contact us.

Dale Shulmistra is a Business Continuity Specialist at Invenio IT, responsible for shaping the company’s technology initiatives -- selecting, designing, implementing & supporting business continuity solutions to bolster client operational efficiencies and eliminate downtime.