Blog


← Back to BLOG

18
Jan
2023
The Benefits of Data Loss Prevention for Your Business

The Benefits of Data Loss Prevention for Your Business

Whether you run a restaurant, an antique store, or a nonprofit organization, your business has important data that, if lost in a security breach, can have detrimental consequences.  According to IBM’s Cost of a Data Breach Report 2022, the average data breach worldwide costs $4.35 million, and each individual record breached approximately $164¹. Consider, too, that 60 percent of small businesses close their doors forever within six months after a data breach.  

Data loss prevention, or DLP, provides a means for protecting business data in the case of breaches. DLP is a collection of tools used to protect data and prevent unauthorized access to information³. In this article, we will discuss the benefits of DLP software for you and your business. 

DLP software alerts you to potential cyberattacks before they occur, sending automatic notifications if compromising behavior is detected³. Having an immediate reporting system cuts down the time spent on defending against cyberattacks by stopping them before they start.

Another advantage of DLP is that it helps you better comprehend the many diverse types of data you store on your business’s computer systems⁴. DLP plans can organize large amounts of data through classification or tagging by priority, resulting in consolidated, documented backups that can be used during potential breaches⁴.

DLP also bolsters your company’s reputation as a trusted brand. Implementing DLP solutions to keep your data secure shows that you take this responsibility seriously, and all stakeholders within your organization notice this commitment to enhanced security⁴.

Yet another benefit of DLP is that it helps you comply with relevant rules and regulations, such as GLBA, HIPAA (the Health Insurance Portability and Accountability Act), Sarbanes-Oxley, and the PCI Data Security Standard⁵. For example, if you are a healthcare provider, you must install DLP software to prevent unauthorized users from sending emails and scanning documents that could contain patients’ personal health information (PHI), as well as copying PHI onto portable storage devices⁶. By installing DLP technology in your organization, you can thus avoid costly fines such as the $50,000 to $1.5 million penalties for violating HIPAA⁶. 

While DLP’s importance is growing across all business sectors, this is especially true in hospitality. Consider fast-food juggernaut Taco Bell, for example. In 2019, the chain’s franchisee BurgerBusters Inc. adopted a DLP solution from Envysion to “standardize and bolster its loss prevention,” including DLP, practices across its 147 Taco Bell restaurants⁷. This cloud-based platform allows BurgerBusters leaders to integrate data from POS (point-of-sale) and other systems into a multi-angle video feed and view a “side-by-side comparison on a single screen,” helping to verify and quickly resolve incidents such as fraud, theft, and sales data leakage⁷. 

By incorporating point-of-sale data with capabilities like a state-of-the-art health monitoring system, video scrubbing, and secure file sharing, Envysion’s DLP solution reduces investigation times by several hours and enables BurgerBusters leaders to track all activities in their restaurants, 24/7/365⁷. 

If you are seeking an effective DLP solution for your business, navitend can help. We offer a variety of managed IT (Information Technology) services, including DLP software installation, for clients in New Jersey, New York, and eastern Pennsylvania. We also provide DLP software training for your business, whether you have fifteen, fifty, or 500 employees. Our top priority is keeping your company’s data secure 24 hours a day, seven days a week. 

Navitend can help you. Call 973.448.0070 or set up an appointment today. 

Sources: 

¹IBM Security. “Cost of a Data Breach Report 2022.” Retrieved from https://www.ibm.com/downloads/cas/3R8N1DZJ

²Cybersecurity Ventures. “60 Percent of Small Companies Close Within 6 Months of Being Hacked” by Robert Johnson III. Retrieved from https://cybersecurityventures.com/60-percent-of-small-companies-close-within-6-months-of-being-hacked/

³Acronis. “DLP Software – What is it?” Retrieved from https://www.acronis.com/en-us/blog/posts/dlp-software/

⁴EasyDMARC Inc. “Benefits of Data Loss Prevention.” Retrieved from https://easydmarc.com/blog/benefits-of-data-loss-prevention/

⁵Security Intelligence. “A Business Case for Data Loss Prevention” by Brian Evans. Retrieved from https://securityintelligence.com/a-business-case-for-data-loss-prevention/

⁶Endpoint Security. “HIPAA Basics and the Role of DLP in Meeting Compliance” by Larisa Cocis. Retrieved from https://www.endpointprotector.com/blog/hipaa-basics-and-the-role-of-dlp-in-meeting-compliance/#:~:text=Businesses%20that%20are%20involved%20in%20any%20way%20with,in%20order%20to%20avoid%20penalties.%20What%20is%20HIPAA.  

⁷Hospitality Technology – “Taco Bell Franchisee Uses Tech to Combat Loss Prevention.” Retrieved from https://hospitalitytech.com/taco-bell-franchisee-uses-tech-combat-loss-prevention

Contact us at 973.448.0070

Testimonials

  • "Thanks so much!  You are a class act!  
    You and your team have really done an excellent job on this!"

    Steve Van Ooteghem, The C12 Group in Houston, Texas
  • “Navitend’s expertise helped our firm over the past year to effectively elevate our I.T. game, powering our website into a highly interactive tool. Well done to Frank and his team!”  

    Chuck Steege, CFP®, CEP, President, SFG Wealth Planning Services, Inc.
  • navitend’s approach to customer service is greatly appreciated here.  Ensuring that we are well protected from a technology standpoint provides us with peace of mind to continue our day to day operations and that they are looking out for our company's best interest. 

    Debbie
  • "navitend has been a great IT partner for our company.  Their helpdesk response time is the best I have experienced in my 30 year career.  navitend has helped me to have great IT services without the need to have a full time, in house, technician at significant savings to our company."

    Bob Bradley, President, Bradley Graphics
  • "We've dedicated our lives to growing our retail and ecommerce business and it's a relief to have found a company like navitend who treats our business likes it's their own. navitend's personal approach to project management and problem solving are top-notch."

    Stamatis, Co-owner Twisted Lily, Fragrance Boutique and Apothecary
  • "Our company is more efficient and has grown as a result of navitend’s work. navitend helped us get to the next level."

    Greg Niccolai / Madison Insurance
  • "I appreciate that they didn’t just build the application. They made it better by bringing ideas to the table that not only made for a better user experience, but also kept the development costs down."

    Andy Lynch / North Star Marketing
  • "I look forward to working with you again in the future. Once again, thanks to your organization for your prompt response."

    Luke Wolters / Luke Wolters Tax Consultants
  • "Thanks so much again for taking care of everything in such an expedient manner. It's a pleasure to work with navitend and its staff as always!"

    Lawrence Wolfin / Textol Systems, Inc.