Lack of privacy can turn your client’s and your business’s lives upside down. If you’re a business owner, then you know how easy it is to become focused on building your brand and delivering excellent customer care, so much so that it’s also easy to let some of the most important matters suffer. It is especially the case when it comes to data security. When is the last time you considered how secure your data privacy program is? Can you say beyond a shadow of a doubt that your clients’ information is entirely safe?
The Privacy Threat
- System breaches can happen to anyone, but this is especially the case for businesses that handle sensitive information.
- Hackers realize that corporate computers tend to house some of the most high-value client data — and individual computers are easier to access and control.
- In 2011 alone, over 80 United States-based law firms reported breaches in their system which resulted in a loss of sensitive client data.
- Cyber breaches lead to disruption of operations.
- Expose the organization to a few regulatory actions, claims of negligence, inability to meet contractual obligations and loss of trust among suppliers and customers.
Competitive Edge
- Clients are actively seeking to work with companies and firms that have the proper protection. In fact, many are now demanding that businesses show proof of their security and monitoring.
- Distinguishes you from your competition.
- Companies know that you’re in a better position to respond to their requests and can provide them with the assurance that both policies and technologies protect their sensitive information.
Takeaway
Cyber security is one of the largest issues of the day. Despite best government agency efforts, cybercrime is likely to continue to increase. The increase is amounting to more and more cyber protection services that are available online. The sophistication of cyber criminals who often engage in cat-and-mouse games with top security experts helps companies understand the severity of these crimes. So if you’re interested in maintaining the success of your business and good public relations, then it’s critical that you build data privacy protection into your company strategy.
Disclaimer: This article provides general information and materials related to contract management. This article does not provide legal advice. VPS is not a law firm, nor does it provide legal advice. You should contact an attorney to obtain advice with respect to any particular legal issues or questions.