Data Breach Crisis Management
Not all company information is the same. Some pieces of information are more important than others. However, no matter what kind of data you work with, you want to make sure that you have the tools you need to protect it. Is your company prepared with data breach crisis management? If not, then it's time to start considering your options.
Even the most unimportant data can cause serious consequences when it gets lost or stolen. For example, think about what could happen to your company's reputation if information gets lost. Would clients still be willing to do business with you? Would your current business allies think twice about signing a contract? After all, who's to say that more important data won't be lost in the future?
And that's just for unimportant information. What happens if more sensitive information gets compromised in a data breach? In worst-case scenarios, a data breach can mean real monetary losses, and not just from lost business over time. Organizations with poor document security can face legal penalties and fines, be subject to paying ransoms, and have product information stolen.
That's what makes data breach crisis management so important. How can you tell if you have a good data breach protection platform? For one thing, it should be all-encompassing. The most effective document security starts with the lowest-level employee and extends all the way up to leadership.
It takes the proper software and training to get things right. If a crisis strikes, how you respond will impact the scope of the breach. Start by taking a look at the items below. They can help you make sure that you've got all of your bases covered.
Get Out in Front of the Data Breach
Obviously, when it comes to data breach crisis management, prevention is always better than reaction. However, if reaction is necessary, it's always best to be proactive. The faster you jump into action, the more trust and confidence you can salvage.
Of course, nobody wants to announce that their company's information has been breached. That's why it's so tempting to sweep the issue under the rug and deal with it in-house. That approach may help your company save face upfront, but it'll ultimately cause more damage overall. A lot of organizations have learned the hard way that sitting on a data breach and waiting for the smoke to clear is not the right approach.
For one thing, this approach does a major disservice to your clients. If your company's information has been breached, then there's a good chance that your clients' information has been breached as well. They have a right to know that their information has been compromised so that they can deal with the problem effectively.
For another thing, depending on your line of business and the size of the breach, hiding a data breach could be illegal. Your business may face serious repercussions if it doesn't deal with the data breach honestly.
Getting ahead of the data breach is the key to data breach crisis management. When customer data is stolen or lost, organizations should issue a statement to all affected stakeholders. The messaging should instill confidence that the data breach is being handled. In addition, partners should know that you are putting the proper document security measures in place to limit the impact of this breach and prevent any future breaches.
Internal Investigation on Document Security
The next step in data breach crisis management is gathering all the relevant information that you can find. You'll want to understand everything you can about the data breach so that you can see what went wrong and how you can prevent it from happening in the future.
To get started with this internal investigation, you should move quickly. Start by investigating the size of the data breach and what impact it will have on operations. The more you understand the impact, the more effectively you can implement damage control methods and patch your security against future attacks.
Once you understand the scope of the crisis, the next step in data breach crisis management is analyzing how the data was stolen. For example, was the data hacked by a physical intruder, or was someone able to hack your system remotely?
How you handle the investigation will depend on the resources you have at your disposal. If you have the internal resources to handle an investigation, that's great. However, if you don't have those resources, that doesn't mean that you can't access crisis management tools. Look for a reputable data and document security firm to help. They’ll be able to find and address any gaps in your security system.
After-Action Report on Data Breach Crisis Management
After the crisis is over, don’t just sigh in relief and keep going. Any investigation and crisis management process should include an after-action report. The report will go over what you did correctly and where you need to improve for better security in the future. It will identify areas you need to invest in for better document security so that you can protect your company's information from future attacks.
This report isn't just a passive formality; it's an important step in data breach crisis management. In fact, it can act as an instruction manual so that your employees understand their role in preventing future data breach attacks.
Again, though, the best approach to data breach crisis management is prevention, and Vasion is here to help with that prevention. Vasion offers organizations the effective document security plans they need to help fight against intrusion and data breaches. People often choose Vasion as a way to keep their documents more organized, and we certainly help them achieve that goal. However, we do more than that. Vasion's document storage platform is one of the safest methods you can use to keep your documents out of the wrong hands. Not only will your documents stay protected in cyberspace, but the reduction of physical documents will prevent information theft from a break-in.
We understand how important it is to keep customer and company data safe. If you need better document security, contact our team today.