Data Security: Boon or Bane?
Businesses today are increasingly, if not totally, dependent on digital communications. But our race to embrace technology has a price: increased exposure to security threats.
Viewing personal documents without permission is nothing new. We can trace it back to before the widespread use of computers. As computing became common, along with the advancement of internet, publicly-disclosed data breaches increased in frequency, and growing public awareness of the potential for data breaches began to rise.
Today, breaching a company’s data has become as simple as gaining access to a single weak link.
How do companies fight back?
According to the Thales Data Threat Report, 63% of organizations deploy new technologies in advance of having data security in place. 67.8% of these same organizations have been breached. Time has shown over and over the consequences of data breaches. Organizations must understand the risks associated with doing business electronically. It’s no longer enough to just check off compliance boxes.
Recently, Echoworx conducted a survey which revealed that while email encryption is a “critical” or “very important” business priority for 53% of organizations, it is only being used “extensively” by 40% of organizations. Reason? Fallacies.
As Jacob Ginsberg, Senior Director at Echoworx says, “Despite the necessity of encryption and the benefits it offers, there is still the common misconception that the technology is suited for only the technically savvy.”
Data breaches are inevitable, and companies will continue to be hacked. The worry is that many organizations remain reactive to cyber security, waiting until their reputation is questioned or legislation forces them to act.
Many jurisdictions have recently considered or enacted significant expansions of regulation on the collection, processing, sharing, and storage of data, from forced localization regimes to greatly-expanded governance requirements, to “legal access” requests.
According to the same survey report, encryption was identified as the clear choice (64%) to satisfy local data privacy laws such as the EU’s upcoming General Data Protection Regulation (GDPR).
No matter whose survey you read…less than 50% of organizations report “extensive” use of encryption!
Unfortunately, even after the widespread knowledge about data breaches and growing importance of encryption solutions the “nuts and bolts” of cyber security are still not understood, or in most cases, simply ignored.
The challenge in the security industry today is that despite the ever more complex threat vector, solutions must remain dead simple to use. Human nature is to look for the easiest path to accomplish a task, and that path also must be the most secure. These challenges are not unique. Creating a more efficient, easy-to-use, cloud-based encryption system will help drive adoption forward.
According to Forrester, very few vendors offer push-based encryption, pull-based encryption, and support for S/MIME or PGP. Think about what you require before shortlisting providers – it may surprise you. Let me get you started with a few:
- Want to be able to personalize the user experience of your encrypted communications?
- Covet the ability to send secure email without requiring a registration process for major clients?
- Wish your encrypted email could use your company’s identity provider for Single Sign-On?
- Yearn to significantly reduce your onboarding time – yet maintain KYC and AML compliance?
- Crave horsepower to ramp up the encryption throughput and speed to send millions of sensitive documents digitally?
Check out our answers to these and more here.
By Fausto Carvajal, Country Manager, Echoworx