Data breaches and security has never been more of a focus for most organizations. It’s not just hackers or rogue employees that are causing worries. Financial Planning brought this to our attention in their article, “Don’t let this data breach threat end your business.”

Organizations are building processes and protocols for “when” they are victims of a data breach, not “if”. Every aspect of a business must be considered. Contracts with vendors must be scrutinized, a cybersecurity policy must be in place, and don’t forget to consider purchasing cybersecurity insurance.

There is an ongoing industry debate over data ownership and the role it should play. But while that debate plays out in boardrooms, emails and contracts,  at the end of the day, who is going to pay the price? You, your vendor, or the client?

Steps to better protect all of the above are in order. For example, more people are going to work remotely. so it’s increasingly important to understand where they are pulling data down from, where that data is being stored and the measures you have in place to protect that data.

Melody K. Smith

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