Ways Data Security Can Improve Your Business

 Digital Transformation makes it easy for you to access information online in just a few clicks. From your face ID, exact location, and search history—your personal information is circulated digitally on a regular, if not every day, basis on different platforms. Your data privacy is always at risk of getting leaked and released whenever you provide and store data to online stores. As business owners, it's your responsibility to take care of your clients' information appropriately, and to do so, you must vamp up your security. In order to give you more idea of its importance, here are some ways data security can improve your business.

The What and Whys of Data Security

Data security is the digital protection of stored information from unwanted online access. It serves as a protective shield from hackers and coding experts who want to penetrate your database and use it for their agenda. There are three As to data security: Accountability, accessibility, and accuracy. Businesses are accountable for holding both the security and privacy of data from their client since they have access to it. Therefore, they expected you to use this information accurately and only in matters they have permitted to do.

Prevents Breaches to Clients' Data

Businesses that use online are easily accessible to hackers who get clients' personal information. Hackers often get credit card information, address, full names, and clients' contact numbers and use them to make online transactions without the owners noticing. There have been reports of hundred-dollar withdrawals from banks by untraceable hackers, all of which root from unsecured and hackable sites.

How to Avoid Data Breaches

1. Limit who can access clients' data

If your business has different departments such as accounting, information technology, and sales, it's best to assign trusted people in one department to handle data collection. If you also want to monitor who can access what, you can use Microsoft Excel as a logistics application to see which employee opened at what time.

2. Regularly change authentication and passwords.

Another tip to avoid breaches is by regularly changing passwords at monthly intervals on sites/applications that store your data. Also, remember that the more characters–change in capitalization, numbers, and symbols–you include, the more difficult it would be for hackers to guess your log-in details.

3. Strengthens Trust and Business Branding

The safer your data security is, the more confident your clients will trust your business. Once you have breached data, it will decrease your confidence in your brand. In a study mentioned by BusinessToday, 85 percent withdraw business transactions, and 65 percent of customers lose trust when this happens. Improving your data security software is one way to prevent possible loss of business sales and income because of its added protection.

Popular Data Security Softwares

● McAfee Data Center

McAfee is one of the most reliable software to prevent viruses from unwanted sites. It alerts you for possible malware and unsecured sites before you even click so you can avoid them. You can avail of its service for $124.99 a year that up to 10 devices can use.

● Avanan Cloud Email Security

Avanan's malware, phishing, and ransomware scanner will benefit you if your business communities internally and externally through email. It also blocks malicious URLs usually made by hackers to get important information from you in one click. For only $5 per user per month, you can get your money's worth of protection by subscribing to it.

4. Reflects Commitment to Clients' Protection

Customers will gravitate towards businesses that they can see seriously value their information. Companies break clients' data security by posting their names on social media without their consent. That's a big no-no. Although it increases the credibility of your business by up 92% probability of online customers purchasing after reading a review, it's still unsafe to publicise their information without prior notice.

Once clients see that you are strict and severe in how you use the information they give, chances are they will be more confident in availing your product/service. Keep in mind that managing your data security reflects how you value your business.

5. Reduces Chances of Involving in Cybersecurity Issues

If your business makes privacy and security a priority, then you're moving ahead in the line. With the transition of businesses to online platforms, there has also been an increase in credential stuffing attacks. These attacks program bots to automatically insert usernames and password combinations to accounts in hopes of accessing them for their use.

For example, if your client gives you their email and contact number and your account becomes hacked by these cybercriminals, chances are your clients will also be victims of these attacks. The worst part is, you might also be suspected as a contingent because you didn't protect your and their accounts effectively.

How to Avoid Getting Victimised By Cybercriminals

1. Use Multi-Factor Authentication

When using your platform for communication, it's best to agree to use more authentication processes before logging in. It can be in the form of receiving an OTP from the site or verifying the location of the device log-in.

2. Block and Report Unknown Log-In Attempts

If you use social media platforms to communicate with customers, chances are you will experience at least one unknown log-in attempt from a hacker. In Facebook, for example, you are informed of the log-in attempt address and time, so you can decline the attempt and report the user.

Takeaway

Data security is essential when building a business; adding another layer of protection that can cost you a few dollars is a good investment you won't regret. If you want your business to thrive, you must ensure that you and your customers are well-protected from privacy breaches. Data security can improve your business by preventing problems, securing all information, and strengthening your brand image. Remember that prevention is always better than cure, and although costly, it's still a better option than paying hundreds of dollars worth of lost income fees, and it's always better to end a transaction with a "thank you" than a "sorry."

Business Security