Think back to the last time you read about a security breach at a hospital, university, bank, retail store, etc. Was it today? Yesterday? Chances are, you didn’t have to reach back too far. Security breaches occur every day, and every organization, no matter how small or large, is susceptible.
Although data encryption is quickly rising in the ranks of effective strategies to protect against security breaches, several common myths continue to prevent organizations from investing in encryption solutions. Don’t fall victim to these three popular encryption misconceptions:
1. Encryption is too pricey for small businesses.
“Data encryption” is often a daunting phrase for small businesses, startups and nonprofit organizations. But the truth of the matter is that every organization can benefit from data encryption, there is an abundance of ready-to-use, out-of-the-box encryption tools and services on the market. The key to identifying the right tool for your organization is to know the type of data that should be encrypted, where it lives, and who should be given access to it. To simplify the process, look for solutions that do not require modifications to your operating system, application, data or storage.
This is all well and good, but if your organization falls under the small business category, you are likely concerned about cost. Think of it this way: When the latest iPhone comes out, you rush to Apple Store to make a purchase (who doesn’t love a shiny new iPhone?) and are offered $60 insurance for your $700 phone. If you don’t purchase the insurance and accidentally run over your phone with your car, you’re in deep trouble. If you’re insured? No problem! Similarly, let’s say a good computer costs you $1,200. According to a recent study conducted by the Ponemon Institute, data encryption can save organizations an average of $20,000 per laptop if sensitive data is breached. Much like iPhone insurance, that’s an investment worth making.
2. Passwords are enough to protect laptops.
Circa 2003, it’s possible all you needed was an AOL email address and a password consisting of your name and birthday to protect what was important to you (your oh-so-precious MySpace page, for example). But in 2017, a simple username and password is woefully inadequate for protecting important data if your laptop is lost or stolen. These days, it doesn’t take a genius to remove the hard drive from a laptop and access its data contents from another system. With this in mind, businesses are encouraged to encrypt hardware, cloud data and mobile devices.
3. Encryption is only for organizations with compliance requirements.
A common perception is that encryption is only needed by healthcare, legal or financial firms. There’s no doubt that any organization belonging to a regulated industry that mandates data security and privacy should encrypt its data, as the fines that come along with being non-compliant can lead to bankruptcy, but these aren’t the only businesses that need protecting. All companies possess data regarding employees, customers, products and financials that is worth protecting. Whether encryption is a legal obligation in your field or not, you should always take measures to keep your data secure and your employees and consumers safe.
Sure, there may be other means to protect your organization from a devastating security breach, but there is no substitute for strong data encryption, regardless of industry or size. Now that you won’t fall prey to these three encryption myths, there no excuse not to take the necessary precautions to protect the data that powers your company. Happy encrypting!
The purpose of this blog is to answer the questions you ask! Feel free to contact us to learn more about MyITpros’ encryption offerings. You can also visit our services pages to learn more about our managed services, including security solutions!