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.
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