By Lisa Croft
We’ve established that digital transformation is an important initiative for organizations, on both B2B and B2C levels. However, several barriers to digital transformation prevent organizations from taking the full leap. At the top of the list of concerns is security. Security is a chief concern for most organizations, and rightly so. How we transfer and store documents is critical for creating trust as well as for company integrity. Before we dig into how we can ensure document security, let’s look at why security is important for every transaction we make within our organizations.
Why is document security important?
You should consider security any time you share a document with anyone, whether internally or externally. Though the why is different for different documents and situations, the when is the same: always. Whether it’s to protect the document from being copied or reused, or to completely secure the information and document, including confidential or private information, security should always be top of mind.
The 2016 Internet Security Threat Report shows that all organizations, large or small, are susceptible to attacks at any time. More important, however, is that analysts found vulnerabilities in more than three quarters of sites scanned for the report. With attackers taking the long-game approach to data theft, more companies are vulnerable, and it’s likely that they will be attacked more than once—so it’s not a “one and done” issue. Security is an ever-changing process, therefore it’s important to view it as ongoing rather than a one-time solution.
Ensuring document security is not only important because failing to address security can open your organization to attacks, but it’s also a critical component of creating trust within your organization and with your customers. From sending digital documents, digitally signing forms, and managing digital rights, document security touches every aspect of an organization. Given the ubiquitousness of risk, security should be every organization’s top priority.
What happens when we don’t consider security?
Ensuring document security seems like a no-brainer, but many organizations don’t take the time to think about what it could mean if they don’t emphasize security from the get-go. From a business perspective, one of the greatest potential downfalls of not focusing on security is a loss of revenue. Data breaches can cost companies, on average, $221 per lost or stolen record, which can equal up to huge amounts depending on the size of a company’s database.
Another problem that arises out of placing security on the backburner is that in the end, you end up with a slower time to market for your software product. Security will always be a top concern for customers and clients, so when a product does not meet their standards, the development team will be forced to go back to the drawing board. If a product is nearing completion, having to go back to square one to address security concerns can add ample time to a product’s release date.
And this is just scratching the surface of issues that can arise from not considering security early in any Go to the full article.