If you have concerns about the privacy and security of your organization’s sensitive data and intellectual property (IP), you aren’t alone. In fact, data breaches are on the rise, with 4.5 billion records compromised in the first half of 2018 alone. What’s more, IP theft costs US companies as much as $600 billion each year.
IP is the lifeblood of an organization and what distinguishes one business from the next, so the value of it cannot be overstated. Traditionally, organizations would try to put all of their IP in an on-site vault, locked safely away. However, when it is stored on-premises, organizations are presented with an accessibility challenge preventing team members from getting any value out of the data that drives the business.
Storing your IP on the cloud provides the agility and flexibility needed for long-term growth and innovation but it doesn’t come without challenges of its own. To facilitate effective collaboration, data must be both easily accessible and securely protected, and every industry has its own set of unique challenges to consider when it comes to data privacy and security:
- Manufacturing: Cybercrimes targeted at manufacturing companies are designed to not only steal IP but also cause physical disruption to operations and produce black-market replicas.
- Education: K-12 and higher education institutions must build a data security system that shields against cyberattacks designed to compromise the sensitive data of students, faculty, donors and more while remaining compliant with growing state and federal regulations.
- State & Local Government: Governments are responsible for balancing the data privacy rights of citizens while ensuring that health, safety and municipal requirements are fulfilled across townships. Not to mention compliance with various state and federal laws that address the security of healthcare data, financial or credit information, social security numbers or other specific types of Personally Identifiable Information (PII).
- Healthcare: As the number-one most attacked industry, it is critical for healthcare organizations to defend against cyberattacks designed to compromise sensitive Protected Health Information (PHI) while remaining compliant with regulations like the Health and Insurance Portability and Accountability Act (HIPAA).
- Media and Entertainment: The sheer number of people involved in every movie or television show produced increases the susceptibility of cyberattacks.
Managing Your Risk Doesn’t Have to Be Complicated
First, it’s important to ensure you understand the challenges specific to your sector—whether it be manufacturing, education, government, healthcare, or entertainment. Then, seek out a solution that meets the demands of your organization and gives you the confidence that your IP is safe and secure.
Whether you’ve already migrated to the cloud or are just beginning to think about it, your journey doesn’t have to put your organization at risk. The cloud is loaded with benefits that are aimed to increase your business performance, growth potential, and innovation.
The time to place your confidence in the cloud is now—you just need the right technology and a little bit of trust. Look for a data protection solution that makes it easy to share securely across platforms and devices in any cloud environment. Download a copy of “Securing Your Data in the Cloud” (for manufacturing, education, government, healthcare, or entertainment) to learn which security features are essential in managing your organization’s IP.
Ready to take the next step in your cloud journey? Get in touch with us!