Securing digital assets within enterprises is a significant challenge, considering that 33% of digital folders in companies lack proper protection, as per the ‘Data Loss Statistics 2023’ presented by Truelist. Additionally, the research shows a staggering 96% of workstations are inadequately backed up, posing a potential threat to data integrity.
When transitioning into a more agile and digitally-driven business model, it’s crucial to remember a key rule – more data brings more responsibility. In a short period, digital transformation prompted by the ongoing impact of unprecedented global events from 2020 to 2023 has completely changed how businesses operate in the modern world. This shift has empowered organisations to use digital technology, making them more agile and competitive to overcome the substantial challenges presented by the current economic climate.
While the digital transformation of businesses enhances efficiency and competitiveness, it also introduces a higher risk of data security issues. The increased reliance on technology brings new challenges concerning data integrity and compliance. Organisations now heavily depend on data for their operations and decision-making processes. Consequently, data has become a valuable asset that must be protected against threats like cyber-attacks, data breaches, and unauthorised access.
To ensure data remains compliant and secure, businesses must implement appropriate measures to protect their data and guarantee its integrity. Additionally, organisations are obligated to adhere to relevant laws and regulations concerning data security and privacy.
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Data Security & Data Compliance
Security and compliance are two interconnected but distinct concepts in the world of data and information systems. Security pertains to the established policies and procedures designed to protect data and information systems from unauthorized access, breaches, and other security threats. On the other hand, compliance involves ensuring that a company adheres to all relevant data protection and information security laws, regulations, and industry standards.
Although security and compliance are distinct, they are closely linked and often mutually influence each other. A company that adopts robust security measures, such as access controls and encryption, is more likely to comply with applicable laws and regulations. Similarly, a company that adheres to data protection laws and regulations is more likely to have robust security measures in place. The requirements for compliance often drive businesses to implement new security measures and technologies.
Ensuring Data Compliance During Digital Transformation
To ensure that data remains compliant and secure, businesses must implement appropriate measures to protect and guarantee its integrity. Additionally, organisations are obligated to adhere to relevant laws and regulations concerning data security and privacy. It is more important than ever for businesses to make sure that they are collecting, storing, and processing data in a compliant and secure manner. There are several ways to safely manage data in the digital transformation era while ensuring compliance.
Conduct A Data Audit
Before ensuring data compliance, businesses must thoroughly understand the data they collect, process, and store and its purpose. A data audit enables a business to identify potential risks, ensure that it has the necessary consent and permissions, and determine whether the company is in compliance with relevant regulations and laws.
Implement Data Protection Measures
Once a company clearly understands its data landscape, it is critical to put safeguards in place to protect that data. This includes implementing across controls, encrypting data where necessary, and ensuring that all data is securely stored. To ensure that a company’s security measures are effective, it is essential to consider implementing a data breach response plan and conducting regular vulnerability assessments.
Develop Data Policy & Procedures
Developing and maintaining up-to-date data policies and procedures is crucial to ensure that the company complies with relevant data regulations. Data retention, access control, and data handling procedures should all be covered. It is also critical to provide regular training and awareness sessions to employees to ensure that they understand their responsibilities when dealing with sensitive data.
Appoint A Data Protection Officer
If a company handles a large amount of personal data, it may need to appoint a Data Protection Officer (DPO) to ensure compliance with applicable regulations. The DPO should be knowledgeable about data protection laws and be able to advise and guide senior management and staff.
Regularly Review and Update Compliance Program
Finally, it is critical to regularly review and update the compliance program to ensure that it remains effective and current with changes in regulations and business processes. This should include performing regular risk assessments and ensuring that compliance measures align with the company’s business goals.
