How To Ensure Data Security For Your Customers

Best Practices | Business & tech

by   Anthony Smith

This article was originally published on Forbes Council.

Data serves as the lifeblood of most businesses today, and safeguarding its security is imperative. I believe this commitment is not merely an obligation to uphold ethical and legal standards; it also lies at the heart of preserving trust within the business-customer relationship.

According to PWC, 55% of business leaders today say that their clients trust them with more data than 24 months ago, but only 21% of those clients report an increase in trust, with another 28% reporting dropping trust levels. As the founder of a software company that manages customer data, security has always been top of mind for me. Robust security measures, like protecting physical, network and application components—and having a commitment to transparency and security policies—can instill that missing piece: the assurance customers need to trust your company with their sensitive data. As businesses increasingly invest in data integrity and security strategies, here are five areas of focus

1. Securing The Foundation With SOC2 Accreditation

A well-known framework for organizational data protection and client privacy, Systems & Organization Control 2 (SOC2) certification is a barometer of good business hygiene and a step in establishing a high-quality data security framework. Once my company undertook securing our infrastructure under SOC2, I respected the process so much that I only sought out other vendors that were compliant under the certification. Companies that adhere to SOC2 undergo rigorous annual audits, ensuring their data security controls meet the highest standards possible. Upon successfully passing each audit, companies receive a certificate as a good housekeeping seal of approval, indicating that their security protocols are transparent and effective.

2. Data Encryption

Encryption is the backbone of data security. This comes in two key forms: data at rest and data in transit. Data at rest refers to information stored on servers or hard drives, while data in transit is transmitted over networks. Data encryption converts readable text, or “plaintext,” into unreadable text, also known as “ciphertext.” Only an individual with the correct encryption key can decipher encrypted data.

Adopting strong encryption standards like Advanced Encryption Standard (AES) 256-bit encryption can provide proper data security when dealing with data at rest. For scenarios that include transmitting data over networks, enforcing secure protocols like Secure Sockets Layer (SSL), Transport Layer Security (TLS) or Internet Protocol Security (IPSec) can help ensure the integrity and confidentiality of your data. It matters less which specific set of protocols your business follows and more that data encryption is a thoughtful defense mechanism deployed to protect and safeguard your customers’ sensitive information.

Additionally, I recommend providing support for two-factor authentication (2FA). This step adds an extra layer of security, making it harder for unauthorized individuals to access sensitive information.

3. Training And Best Practices

Data breaches or security incidents are often not solely the result of system vulnerabilities: They can occur due to critical errors made by well-intentioned individuals. In fact, a staggering 82% of security breaches are attributed to human error. That is why I believe it is crucial for companies to prioritize investments in comprehensive training programs for all employees. Regular training sessions and workshops can be pivotal in consolidating best practices and fostering a strong security culture—and awareness—within your organization.

Also, continually update and enhance your employees’ understanding of fundamental data security principles like having remote workers use a secure VPN to access the company network, creating unguessable passwords, and utilizing password managers to limit exposure to a single account and not a myriad of them. This ongoing commitment to training and awareness can help ensure data security for your valued customers.

4. Preparation And Honesty

There’s a widely recognized adage regarding data breaches: Companies should prepare for a breach—not questioning whether it will happen, but rather when. No matter how powerful your data security measures may be, breaches still happen, so have an incident response plan in place. With clear and established protocols for reporting and addressing security incidents, this proactive approach can help ensure a fast and effective response. I recommend including a swift disclosure to customers within three business days of a breach, along with an outline of the steps being taken to rectify the situation. Transparency in these moments is one of the best ways to maintain trust and allow customers to react effectively.

5. Smart Tools For Proactive Security​​

Embracing cutting-edge tools and technologies represents a potent strategy to fortify security measures. For example, use sophisticated network and computer scanning tools designed to proactively identify unusual activities, signaling potential security threats. It’s worth noting that these systems may occasionally trigger false alarms. In any instance, take swift action, such as quarantining laptops or devices until their legitimacy is verified.

Another example of a tool that offers convenience but also challenges is the USB drive. A good workplace solution doesn’t necessarily entail an outright ban of thumb drives; rather, it can involve educating employees about the potential risks associated with their use. Raising awareness can help your team become a proactive line of defense against vulnerabilities stemming from these innocuous devices.

The judicious adoption of effective security tools and technologies is important for avoiding potential threats. While false alarms may arise, quick and decisive responses can help maintain the integrity of your network.

Embracing Zero-Trust Networking

The zero-trust networking model epitomizes a forward-thinking paradigm for data security. It embodies the fundamental principle that trust should not be granted by default to anyone, whether within or outside an organization, and access should be strictly confined. Information security transcends mere compliance; it represents a profound ethical and business imperative contingent upon a multifaceted approach that includes implementing layered data security measures.

These efforts are important for safeguarding the integrity of customers’ data and sustaining the trust they place in a businesses’ services. By adhering to these principles, we can ensure that data security remains a cornerstone of industry and that our customers’ confidence remains unwavering.

 

 

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