Privacy and security have taken center stage for most individuals and businesses. As businesses shifted to remote or hybrid work environments, they also saw an increase in usage of Internet of Things (IoT) devices, cybersecurity risks, and privacy concerns. In fact, the pandemic highlighted interdependencies across privacy, ethics, fairness, and transparency. Looking ahead, business leaders must focus on addressing privacy and security concerns as a strategic imperative.
The increased usage of digital technology in our personal and professional lives has quickly become a double-edged sword. On the one hand, it has increased our portability and enabled individuals and businesses to continue to thrive in spite of the pandemic raging all around us. On the other, this portability and increased usage have enabled businesses to collect even more data about customers, prospects, and employees, including location tracking, personally identifiable information, and more. Although this can present a tremendous competitive advantage for businesses, it is not without risks.
Forrester Research recently highlighted three privacy trends that business leaders must consider going forward:
By incorporating a privacy-by-design approach to initiatives going forward, leaders can ensure the proper safeguards are in place to meet the growing demand for collecting, processing, and sharing sensitive information, as well as address the increased risks created by this demand. So how can you lower that risk and maintain privacy security in your organization?
To lower your risk and protect your business and customer data, keep in mind the following best practices:
To truly monitor and maintain data privacy within your organization, you must look both internally and externally. Internally, you must ensure you have the proper privacy policies and procedures in place to protect the data that you collect, process, and share. You must monitor the usage of company devices and access points for all employees and be able to remotely restrict access or even delete data should that device be lost, stolen, or misused.
From an external standpoint, you must be aware of potential cybersecurity threats and ensure you have proper patches and security protocols in place to protect your data and infrastructure. Further, you must be aware of new and updated privacy regulations from the federal and state level. Violating one of these regulations could cost your business significantly.