A pressing issue for financial organizations is securing the growing amounts of data that are accumulating. This data has great value — and great sensitivity: Organizations hold customer transaction histories and payment details, internal financial information, and intellectual property. All of this data is susceptible to leaks and is valuable to hackers.
Too often, organizations rely on firewalls and similar defensive strategies to safeguard sensitive data. However, as recent cyber crime headlines clearly illustrate, a defensive posture is not enough. Modern business processes demand that data be accessible outside the firewall. Trends in cloud computing and mobile policies such as bring your own device (BYOD), while convenient, have made data assets more vulnerable.
According to a recent study by the Ponemon Institute, a sample of US organizations experienced two successful cyber attacks per company per week — and the average cost of resolving each successful attack is more than $1 million1. Meanwhile, the US federal government has endorsed adopting a more proactive security posture — for example, by issuing an executive order about establishing more secure cyber environments2 and producing a Treasury report encouraging the nationwide adoption of best practices3.
A proactive approach to cyber security begins with an audit of all data assets. If your organization is like most, you’ll find a surprising number of unsecured assets that exist in some form outside the firewall — and you can’t reclaim these assets when copies reside indefinitely on cloud servers or user devices.
With these insights in mind, many organizations are seeking proactive security solutions that combine encryption, loss prevention, and data rights management (DRM) to secure data assets before they leave the protection of the firewall. Such solutions can greatly reduce the liability involved in routine tasks such as data backup, cloud storage, e-communication, and other manual and automated business processes.
As an SAP PartnerEdge member, Encryptics is positioned to help SAP customers adopt a more proactive security posture. Encryptics provides persistent, end-to-end data protection as well as training tools and metrics to help guide an organization’s security policies.
Encryptics’ email security solution is an SAP-certified mobile app that is available in the SAP Store’s Mobile Solutions section. Ideal for BYOD and mobile workforces, this multi-platform solution can protect mobile communication on the fly, or function as the data protection component of an enterprise mobility management (EMM) solution such as SAP Afaria.
As cyber crime becomes more sophisticated and cyber criminals become more capable, organizations of all sizes must rethink the way they protect their data assets — or face the consequences of a costly breach.
For organizations looking to protect data assets outside of email, Encryptics’ core technology can be integrated as a solution extension. In this way, data protection can be built into existing products and systems to secure everyday workflows.
As cyber crime becomes more sophisticated and cyber criminals become more capable, organizations of all sizes must rethink the way they protect their data assets — or face the consequences of a costly breach. It’s time to adopt a stronger, more efficient security posture. It’s time to be proactive.
For more details about Encryptics’ proactive data protection solutions, visit http://encryptics.com.
1 Ponemon Institute, “2013 Cost of Cyber Crime Study: United States” (October 2013; http://bit.ly/1dcZbXL). [back]
2 Executive Order 13636 — Improving Critical Infrastructure Cybersecurity (February 12, 2013; http://1.usa.gov/1gcpbWo). [back]
3 Treasury Department Report to the President on Cybersecurity Incentives Pursuant to Executive Order 13636 (Encryptics referenced in footnote on page 22; http://1.usa.gov/1m1VKKo). [back]