Small business unprepared for data breaches
For any organization, a data breach can be a devastating event, but this is especially true of small businesses. Because these firms often have limited budgets and in-house staff, coping with the fallout of a compromise is simply not affordable. However, despite the fact that the costs of data exposure are prohibitive, many smaller organizations still have not implemented the security solutions necessary to ward off such incidents. Companies must get the support they need, including resources like database experts, to maximize the bottom line and keep customer trust.
According to a recent study conducted by Ipsos Reid for data security firm Shred-It, the majority of small business owners may not be doing enough to protect their records, nor do they understand the value of taking these steps. The survey discovered that 69 percent of respondents are either unaware of the fact that lost or stolen data would result in negative consequences for their financial health and reputation or they don't believe these impacts would occur. Additionally, 40 percent of small business owners admitted that they do not have any data protection protocols in place and one-third said that they don't train staff about information security.
Techworld noted that recent report from McAfee discovered that when companies lose control of their information, it often takes a significant amount of time of them to notice a problem has even occurred. The study revealed that the average enterprise believes it would take approximately 10 hours to detect a data breach, while 22 percent estimated this process would take a full day. One in 20 respondents said it would most likely to take a week to notice a compromise.
"This study has shown what we've long suspected – that far too few organizations have real-time access to the simple question 'am I being breached?'" said Mike Fey, CTO at McAfee, according to the source. "Only by knowing this, can you stop it from happening."
Information is any company's most valuable asset. Preventing unnecessary costs and maintaining strong relationships with clients depends on a firm's ability to keep data safe from a range of threats. With the help of database experts, it's possible to implement the right security solutions and policies to achieve these ends.