Why Your Business Needs a Data Security Policy
What Is a Data Security Policy?
Just like a home security system protects your home, a Data Security Policy (DSP) is designed to protect your data. Companies are trusted with highly private information of customers every single day — and this is exactly why your business needs a data security policy!
With cybercrime threatening both the public and private sector, it’s important for organizations to have a Data Security Policy in place. When formulating a Data Security Policy, it is important to look at all threats and to cover more than just the basics! Join our webinar on January 27, 2021 for more information on the importance of Data Security Policies!
Why Does Your Business Need a Data Security Policy?
Today, the competitive business environment is data-driven. Data provides key insights into your customers’ business performance which in turn, helps you make better decisions and improve processes. However, the sudden influx of employees working remotely exposes your organization’s information to several security threats.
Risks and Consequences of Not Having a Data Security Policy
Despite the growing number of data breaches, most small and midsized businesses do not have well-established Data Security Policies. The lack of a Data Security Policy opens the door to a wide variety of security risks.
The impact of a single data breach can be devastating and result in huge financial loss. It can also have the following serious consequences:
- Damage Brand Reputation
- Disrupt Business Operations
- Legal Implications
- Loss of Intellectual Property
Key Elements of a Data Security Policy
It is critical to identify both internal and external risks that could disrupt business operations in order to establish a robust data security policy. Here are some key elements your company’s data protection policy should include:
- Data Privacy
- Security Awareness Training
- Password Management
- Internet Usage
- Email Usage
- Company-Owned and Personal Employee Devices
- Software User Agreements
- Reporting Security Breaches
Why Your Business Needs a Data Security Policy
Protecting your organization’s most valuable assets requires far more than an IT security program. Having a well-documented Data Security Policy in place is an important step to protect sensitive data and minimize threats. Apart from setting up the policy, you should constantly communicate guidelines and best practices such as Security Awareness Training for data protection across your organization.
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