It’s hard to miss the latest data breaches in the news. Major retailers are being regularly hit with extensive breaches of their consumers’ sensitive cardholder information. And it’s not just retail that is at risk. Companies in virtually every industry that accept card-not-present transactions are targets. According to a recent study by the Ponemon Institute, healthcare, financial, and pharmaceutical organizations top the list of companies suffering the most expensive breaches.
While a breach is a PR nightmare, the costs associated with fines, customer churn, litigation fees, and auditing processes push this issue beyond the CIO’s responsibility, and bring it to the attention of the CFO.
How Protected Are You?
Don’t wait until after a breach occurs — now is the time to figure out what processes you have in place to protect your organization from a breach.
The Payment Card Industry Data Security Standard (PCI DSS) is a good framework for evaluating and implementing the safe handling of sensitive data in enterprise systems and applications. It provides a set of tools and guidelines for assessing the level of protection in your organization and ensuring you have a robust security process in place for preventing, detecting, and reacting to security incidents.
Meeting compliance guidelines can be an onerous and costly undertaking, but you don’t have to go it alone. There are solutions that can help you meet these high security standards in your SAP environment through tokenization technology. And implementing an SAP-certified solution using tokenization is a fraction of the cost of an actual breach.
Safeguarding Your Data with Tokenization
Tokenization technology, such as Paymetric’s XiSecure solution, works by replacing payment card numbers with a surrogate, or token, ensuring that sensitive data is never stored in your environment. The real data is stored offsite in Paymetric’s secure data vault.
By deploying a tokenization solution, you not only limit the risk of a costly data breach, but you can also reduce — and even remove — systems from the scope of your annual PCI-compliance audit, saving you time and money. Solutions such as Paymetric’s Data Intercept capture cards and tokenize them before they enter enterprise systems, ensuring raw cards never even touch those systems.
The result? CFOs can sleep better at night, knowing that data is protected in the event of a breach, because tokens are useless to criminals or rogue employees.
Hundreds of enterprise and mid-market SAP customers have turned to Paymetric to help tackle their data security and compliance challenges.
Learn more about how Paymetric can help you at www.paymetric.com.