There is a problem that needs to be discussed when it comes to data security. Even though it is predicted that cybersecurity spending will reach over $1 trillion by 2021, some organizations are not focusing this cash properly. According to recent surveys including Thales and HBR, there is a severe disconnect between the C-suite and IT decision makers—and it shows.
Data security is often the lowest priority for IT spending. This must change. Data breaches can be detrimental to the enterprise, with over 7 billion data records stolen since 2013. It’s obvious that data security should be a top priority in IT budgets.
The Case for Data Security
If you need convincing, there is plenty of proof. The Identity Theft Resource Center (ITRC) recently published its compilation of data breach notifications for 2020. In total, there were 1,108 data breaches reported and more than 300 million individuals impacted.
It isn’t going to slow down anytime soon. CSO has given their predictions for 2020, the majority not looking good for security within the enterprise. Attacks will increase and likely get worse thanks to the IoT.
With predictions and statistics like these, it is crucial to have a data security strategy and solution in place for problem-solving before the threat occurs. If you think speed from your IT team alone will be enough, you may be wrong. According to the Verizon Data Breach Investigations Report, the breaches that are the fastest to discover appear to be those where it becomes readily apparent something is wrong. This can be when an employee recognizes something has gone wrong or there is evidence of stolen information. Cultivate an early warning system with your employees by ensuring they know what steps to take when something doesn’t seem right.
With spending at an all-time high and data security already a low priority, some executives may be balking at the added costs associated with data security. Yet, the two most expensive viruses in history both caused nearly $40 billion in damage. The truth is, it is more costly to not implement data security.
All this information and more available proves the case for data security and its importance. Using a turnkey data security solution can remove the strain, from the top of the organization to the bottom.
The Big Picture
Most importantly, you should have a big picture of your entire organization and how data security will affect your enterprise from the top down. Your IT department and its tasks are not simply an expense any longer. Your IT department will be the backbone of your entire enterprise, especially now with cybersecurity as a priority.
Let’s look at an example of how data security can help your enterprise from the top down. As an executive, making the choice to use your spending for data security puts a plan in place to combat a breach before it happens. Your IT team is now given the tools necessary to take constant data updates and backups off their plate. These updates and backups are now automated and sifted through to find holes in your security system and data.
The holes that are found in your system are quickly patched and solutions are put in place to prevent them in the future. While your IT department no longer needs to spend critical time performing basic and repetitive functions, they are now able to focus and invest time in identifying solutions to efficiency issues within your organization. They are also able to work through process improvements in other areas of your business, affecting each department of your enterprise.
With process improvements through the enterprise, more training and identity management can be given to your employees. According to the report completed by Thales, “Fifty-eight percent of c-suite respondents say privileged users are the most dangerous insiders while executive management is seen as the second-most-risky insider at 44 percent. Ordinary employees and contractors sit at 36 and 33 percent respectively.” Your managers and team leads can help end-users create uncrackable passwords and educate them on owning their own identity within your enterprise.
This sense of identity ownership, mixed with a data security solution and your support will create a strategy that is built to last and hard to break. Data security solutions can make a difference in your security from the top down, so you don’t have to start again from the bottom up. If you still have concerns or have questions regarding which solution is best for you, New Era can help. It is time to change the focus.