When It Comes to A Data Breach Time Can Mean Money

There’s almost not a day that goes by without a data breach being reported in the media and for US companies, this is particularly unwelcome and costly news. According to recent research, the average cost of a data breach for US companies is nearly twice that of their European counterparts.  While the discovery of a data breach is bad news in itself, the length of time taken to identify the breach and then to contain it, can directly affect customer’s confidence in the brand. In cases where a breach has occurred over a long period, customers are more likely to take their business elsewhere, effectively resulting in an increase cost to the organization. Increasingly, customer’s want to know all the fine details, including when the incident occurred, when it was discovered and how long it took the organization to determine if it was data breach.  One industry report suggests that companies that manage to contain a breach in less than 30 days save over US $1 million compared to those organizations that don’t.

When it comes to a data breach resulting from printed documents, identifying the breach tends to take longer and can be a significant challenge if organizations do not have print tracking capabilities in place. On many occasions a breach only comes to light as a result of an affected individual reporting suspicious activity and not from the source. The resulting PR can lead to a significant loss of business due to reputational damage and customer attrition.

With 59% of businesses reporting a data loss due to a print related incident in the past 12 months, business organizations need to take a pro-active approach to print monitoring and security. FollowMe® by Ringdale® is a tried and tested print management solution with fully integrated data loss prevention (DLP) and security features and is highlighted in the latest 2019 Quocirca Security Report. Download your copy now.

SOURCE Ringdale

Large Enterprises Aren’t the Only Ones at Risk