Information is power, which is why it is one of the most critical resources that companies have.
With the use of new technologies to manage and store large amounts of data and the increasing use of mobile devices, the risks of losing sensitive and confidential information are growing.
Hence, the importance of maximizing security within corporate networks.
Causes of data and information loss in companies
The loss of a company’s data is not only caused by viruses. There are a large number of variables that can lead to the deletion or elimination of information in a company: from not implementing a discovery phase when outsourcing a software development project to cyber-attacks from hackers.
The origins of the loss of data in a company are usually by:
Human team
The people’s failures are one of the cases that more erased data produce in the companies. They are usually caused by deleting a file or not saving the latest updates of a file being used or by a simple accident such as spilling a liquid on one of the terminals.
Loss of mobile devices
Laptops are in the day-to-day of the companies with a lot of confidential and sensitive company information. Employees use them to attend meetings or work from home, and here comes the factor that at some point, these devices can be lost or stolen with this large amount of confidential data.
Mechanical failures
The electronic devices used in a company have essential data, and any power surge or blackout can cause this information to be lost.
Viruses and cyber-attacks
Companies work with devices permanently connected to the network, which means that they are exposed to many dangers and cyber-attacks. With viruses and digital attacks, confidential or sensitive data contained in the device can be deleted or stolen so that cybercriminals can use them to their advantage.
How do we prevent data loss?
It is not possible to be 100% sure that a loss of company data will not occur, but specific rules can be adapted to be as minor as possible if it does happen.
Employee training
A large part of data loss is usually due to user intervention. Therefore, the company’s employees must be trained and made aware of good information security practices. It is necessary to teach workers about the threats they can receive through social networks or e-mails such as phishing.
In addition, it is necessary that signed confidentiality agreements are carried out and that the entire workforce knows the protocol of action, classification, and treatment of sensitive and confidential data to prevent the loss of information.
Creation of backup copies
Keeping information in backup copies is essential because if they are lost from one location, they will not be lost since they will continue to be stored in one of the backup copies that have been made. These backup copies must be made periodically to keep the information updated.
One of the best options is to have a backup copy in the cloud. Even if the devices are attacked, or the confidential or sensitive data is accidentally deleted, you will not lose it since you will keep it in the cloud storage.
Implement access control measures
These systems must be put in place both for physical access to the facilities where the devices with the information are located and for access to the company’s equipment containing the confidential and sensitive data that you do not want to lose.
Having DLP systems in place
Companies must have a data loss prevention (DLP) system in place. It works like an antivirus that looks for patterns and signatures that companies consider most susceptible to information.
It is a system that acts throughout the company’s network infrastructure and can analyze all the information that is interacted with, stored, and not used. A DLP system monitors everything that happens in the company’s devices to prevent and correct vulnerabilities through which information can be leaked.
DLP solutions must be implemented after a previous study has been carried out to analyze the company’s needs in terms of vulnerable points and to understand the corporate network environment.
Have a cybersecurity team in place.
Having technological tools will help the company better protect confidential or sensitive data, but it is not enough. It is necessary to have an expert cybersecurity team that is aware of all new developments in cyberattacks and constantly updates all preventive measures to avoid data loss.
The consequences of losing information for companies
The loss of confidential and sensitive data has a significant negative impact on companies.
Image damage
The loss or theft of confidential information can affect a company’s reputation and image in the long term. If the information leakage reaches customers, they will retaliate against the company, either by legal means or by cutting off any relationship with the company. The target audience will no longer trust to leave their data because of a history of poor information security.
Economic loss
The economic impact of the data leakage is linked to the wrong image. The loss of reputation will cause many customers to stop trusting the company’s services and products, which will reduce economic income.
In addition, the loss of confidential information will result in the loss of intellectual property that may affect the competitiveness of the business and the inability to attract new customers or lose business opportunities.
Legal Consequences
The loss of confidential and sensitive employee or customer data can have legal repercussions. There is a data protection law, so the legal consequences are aggravated if the stolen information is personal.
Conclusion
Data protection should be an essential part that companies should focus on to avoid running risks of data breaches, customer dissatisfaction, and brand damage that can harm the company’s economy.
Now that you know the importance of protecting company data, you are probably thinking about improving it.
