Although the most recent economic indicators indicate a change toward a healthier economic climate than previously 4 years, the general nicely becoming from the United States and globe economic climate remains within the realm of recession territory.
Throughout any downturn or economic down cycle, numerous companies try to make choices to scale back on numerous line items in their operating spending budgets. Frequently occasions these reductions are made to areas which are thought to be support or not important towards the each day operations of the company. 1 such area that's frequently regarded as a “back office†operation is information protection. The UK Information Commission Office made a statement recently to place companies on notice that information protection might be “under threat†while in a continuing tough economy.
The Commission head, Cristopher Graham stated that “those coping with info security and having access to info are under actual demands, hit with the double whammy of growing demands for info from citizens and customers on the 1 hand and decreased resourcing on the otherâ€. He added, “Businesses under pressure within the economic downturn should be inclined to scrimp and push boundaries. That is a poor call, because the very first victim of a large information breach is certainly going to be a brand’s good reputation. Customers will reject businesses that disrespect their privacy.â€
With these decisions being made on an almost daily basis during a recession, it is important for CFOs and CIOs to work together. CFOs should serve as a facilitator to help different entities manage and participate in the requirement for data security. CFOs understand that data breaches can affect the company’s bottom line both due to increased costs to monitor and secure data, but also with increased insurance, potential damage claims and lawsuits as well as intangible damage to the company’s customer trust.
Understanding the reducing expenses within the information protection area might wind up costing the business much more revenue in the long run can also be an essential point for CFOs to know in a slump. This enables the CIO to provide beneficial info to the CFO and also have them as a good partner in determining what kinds of systems and safety measures to get in place over information. The CIO’s function would be to clarify how an investment can save the business cash and just how it'll affect the company.
Hardware authentication is one way to protect data.
Throughout any downturn or economic down cycle, numerous companies try to make choices to scale back on numerous line items in their operating spending budgets. Frequently occasions these reductions are made to areas which are thought to be support or not important towards the each day operations of the company. 1 such area that's frequently regarded as a “back office†operation is information protection. The UK Information Commission Office made a statement recently to place companies on notice that information protection might be “under threat†while in a continuing tough economy.
The Commission head, Cristopher Graham stated that “those coping with info security and having access to info are under actual demands, hit with the double whammy of growing demands for info from citizens and customers on the 1 hand and decreased resourcing on the otherâ€. He added, “Businesses under pressure within the economic downturn should be inclined to scrimp and push boundaries. That is a poor call, because the very first victim of a large information breach is certainly going to be a brand’s good reputation. Customers will reject businesses that disrespect their privacy.â€
With these decisions being made on an almost daily basis during a recession, it is important for CFOs and CIOs to work together. CFOs should serve as a facilitator to help different entities manage and participate in the requirement for data security. CFOs understand that data breaches can affect the company’s bottom line both due to increased costs to monitor and secure data, but also with increased insurance, potential damage claims and lawsuits as well as intangible damage to the company’s customer trust.
Understanding the reducing expenses within the information protection area might wind up costing the business much more revenue in the long run can also be an essential point for CFOs to know in a slump. This enables the CIO to provide beneficial info to the CFO and also have them as a good partner in determining what kinds of systems and safety measures to get in place over information. The CIO’s function would be to clarify how an investment can save the business cash and just how it'll affect the company.
Hardware authentication is one way to protect data.
About the Author:
Oliver David contributes articles for Lok-it.net and other websites on sujects like flash drive reviews.
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