Enterprises today are capturing more data than ever. And while collecting an increasing amount of data yields valuable insights and the ability to connect more effectively with customers, it also creates more concerns — mostly around security.
Sixty-nine percent of North American and European security decision-makers report they are responsible for protecting customers’ personal information. As a result, the pressure is rising — and so are the budgets. According to a recent Forrester report, 36 percent expect to increase spending in this area. But with increased media coverage highlighting devastating cyber attacks and security breaches, companies are asking, “How can we best ensure that this doesn’t happen to our company?”
Data Security and Privacy
Many technologies claim to be the “cure all” to growing security concerns, yet with so much available, how can you be sure that you’re selecting the right tools? Forrester recently explored the state of security through examining past research and surveying 53 field experts. The company highlighted important solutions that will play a critical role. Here are four to watch.
Cloud data protection solutions. Enterprises are seeking solutions that allow them to encrypt their own data and hold the keys, in contrast to older models that rely on a cloud or third-party provider’s native encryption solution.
This type of solution works by encrypting sensitive data before it leaves the enterprise network, rendering it unreadable or useless to cyber criminals. The cost to implement is moderate, and the solution can be deployed as an on-premise or virtual application or as hardware. It’s typically priced per user and often based on the per-user pricing of an SaaS agreement.
Regardless of the industry, email often contains confidential information that requires safeguarding. This is especially true for industries that are under strict regulatory scrutiny, such as the health care industry. Forrester predicts that email encryption adoption will remain steady over the next decade as compliance concerns rise.
This solution works by encrypting emails between recipients so that only the correct email recipient is able to read the content and download attachments. This is typically offered as a feature of a security solution or service, and can have the added advantage or removing file size restrictions. Pricing is moderate and enterprises can typically select from a hosted or on-premise solution.
Managed File Transfer.
Managed file transfer is an important technology to help organizations protect and audit their data transmissions. It’s at the core of many B2B interactions and serves as an effective replacement for unsecure methods such as FTP and email. MFT is proving especially important in financial services, healthcare, public sector and manufacturing, where security concerns are very high.
The technology works by allowing for the secure movement of files between business applications internally and externally. It’s typically offered as an on-premise solution or hosted service, and pricing can vary greatly. Because it’s typically a replacement for a legacy FTP system, migration to a Secure Managed File Transfer solution is the ideal opportunity to review additional enterprise requirements for batch or ad-hoc file transfers.
Secure file sharing and collaboration.
Workers today are increasingly interacting remotely using consumer-grade cloud sharing tools, also called EFSS (Enterprise File Sync and Sharing). This remote workforce benefits greatly from using a professional platform to synchronize files across multiple devices. As a result, Forrester expects the demand for secure methods of file sharing and collaboration to continue growing.
These EFSS tools allow for the safeguarding of information while sharing data and documents with internal and external partners. File sync and file distribution capabilities can also be included. The cost is typically low to implement, with services delivered on-premise or from the cloud and are priced per user.
Data security is entering the golden age. S&R professionals will continue to feel increased pressure to analyze all available security options, stay nimble, and adjust quickly to ensure data privacy and security moving forward.
Selecting options that offer a progressive amount of security and internal control over data, however, will ensure that enterprises are safeguarding critical data while navigating an increasingly complex regulatory environment.