Business Privacy Q&A with Heidi Shey, Senior Analyst Security and Risk at Forrester Research – Part 3

Virtru. Privacy, Secured.

Part 3: Underlying Trends Driving the Need for Business Privacy Technologies

Leading up to our webinar with guest speaker Forrester Research Senior Analyst Security and Risk, Heidi Shey, we had a chance to ask her to address some of the questions around the challenges organizations face today in terms of ensuring business privacy and data security. We’ll be sharing Heidi’s key insights (and some of our own) in a five part series over the coming weeks.

Q3: Can you please describe the underlying trends that are driving the need for business privacy technologies?

Heidi: Evolving privacy laws around the world are helping to force enterprise discussions around data storage, data transfer, data collection purpose and consent. Companies must implement reasonable measures and technology controls for data protection that enable employees to securely access, use, and share information necessary to do their jobs. This is increasingly critical as more and more organizations move email and file shares to the cloud.

Regulatory and technology trends aside, social factors are another major trend. The notion that privacy is dead or that consumers don’t care about privacy is outdated. Our research has defined key attributes and behaviors that determine a consumer’s privacy segmentation and their willingness to share data. This makes having a strategy for data protection and enabling the right tools to support that strategy a critical priority. Data protection is a corporate social responsibility and business edge in this age of the customer and digital business. Companies that realize this understand that missteps with data use and handling – whether it’s lax measures to secure the data or unethical use of data – are not attributes they want associated with their organization.

Virtru’s Take

Beyond the well-documented regulatory requirements for companies, business privacy has become an imperative for organizations of all sizes.

Data breaches dominate our news cycles, so most people understand the importance of encryption and expect it from the organizations handling their data. Plus, we are more interconnected than ever, which means that the number of companies processing our personal information is also at its highest.

What’s more, we rely on cross-platform, cloud sharing in order to effectively share and collaborate. The assumption that data will stay in its original network has long been dead, and a desire for more persistent protections has grown with its demise.

Failure to adopt cutting-edge business privacy technologies and rigorous policies puts organizations at risk and compromises consumer trust. Not only is it more likely that unprotected data will become exposed at some point, it’s also more likely that your partners, consumers, vendors, and other stakeholders will seek to understand your data protection and encryption policies before a breach even occurs.

All of this means that business privacy has moved from from a “nice-to-have” to a “need-to-have.”

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