Assume the Position: 3 Things Successful Companies do to Prepare for Data Breaches

BY:

Oct 18, 2016

assume-the-position-3-things-successful-companies-do-to-prepare-for-data-breaches

Ensure your company is prepared in the aftermath of a data breach

Today, companies of all sizes must prepare for data breaches. In the first six months of 2016, there have been 974 publicly-disclosed data breaches, according to the Breach Level Index (BLI), which resulted in the loss of 554 million data records.

If your company falls victim to a data breach, your reputation will likely be tarnished and you’ll be left with customers wanting to know why their records were compromised. You’ll also probably have to answer to authorities, who may be concerned about what sort of liability you may have as a company that did not properly protect its customers from these threats.

Your reputation means everything in business. By putting in the effort ahead of time to build trust with your customers while also putting mechanisms in place to protect your employees and your customers, you’ll be well on your way to being properly prepared for a data breach.

Remain transparent with your customers

Remaining transparent with your customers, in good times and in bad, helps to foster a relationship that is built on trust. Social media is a great way to reach out to customers and to engage when and if an issue does arise.

Personally reaching out and responding to any inquiries that come up via social media as well as other communication mediums can help to keep the dialogue open. Your audience will become familiar with your constant communication and will learn to appreciate it. Your customers want to be informed, and even though it may seem more difficult to be forthcoming about any security issues that arise, it’s much better than leaving them in the dark.

Establish your organization as a leader in the industry

Becoming a leader in the industry will instantly build trust among your customers and it will also give you additional clout that could prove beneficial in the event of a crisis. Should you fall victim to a data breach, it’s critical to use your organization’s reputation as an advantage and communicate the concrete steps that your company will take to mitigate any damage.

Ensure your employees are onboard

One of the most common causes of data breaches are careless or malicious mistakes by internal employees. According to a Verizon report, 20.6% of confirmed breaches occurred due to insider misuse. For this reason, it’s critical that your employees understand the importance of protecting customer data, as well as the implications of an incident.

Perform regular security audits of your internal team to make sure that you have the necessary security tools and procedures in place to reduce the likelihood of a data breach due to an internal breakdown among your employees.

Is your company prepared to deal with a costly data breach?

According to IBM, the average cost of a data breach has grown to $4 million dollars. Can your company afford to take that kind of financial hit? If not, it’s critical to take the necessary steps to protect your organization and your customers from breaches and other cyber threats. For more information on how to safeguard your data, feel free to contact CloudHesive today at 800-860-2040 or through our contact form.

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