Companies are becoming aware that, due to the increased focus on cyberattacks and breaches of data, it is important to have the right security measures in place to protect their most valuable assets. Security measures like encryption, firewalls and authentication are in place, but so are policies that regulate the storage, use and sharing of data.

Data privacy is one of the areas of control, including ensuring that personal data is only collected for the purpose for which it’s needed, and that companies don’t store or share that information with untrusted parties. It also means providing customers with clear, understandable policies regarding how their personal data is used, and giving them the ability to opt-out from those uses. It also requires compliance with a variety of data privacy regulations that include GDPR, CCPA, and HIPAA.

Modern business environments are complicated due to wireless, remote access, bring your personal device smartphones, smart devices and internet of things technology. These require careful management of infrastructure and robust access controls as well as a deep understanding of the regulations that are in place at the local, state, provincial, or even country level.

Without these security measures in place you run the risk of an expensive breach that could damage your reputation, cause loss of customers and cause penalties or lawsuits. You also run the risk that you’ll lose vital information that could allow you to create innovative products and services for your customers. In short the importance of privacy and data security protection is not overstated.

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