Data has become a valuable resource for many organizations in the process of undergoing digital transformation. More so once that data undergoes data transformation so that it can be effectively utilized for decision-making processes. Because of this, data has become a prized target for cybercriminals and other malicious players in cyberspace. As such, securing data is a given, more so a necessity.
But as the adage goes, it’s easier said than done. Securing digital assets within enterprises is a significant challenge, with the complexity of the enterprise’s IT infrastructure contributing significantly to these challenges. Recent data suggests that 33% of digital folders in companies lack proper protection and a staggering 96% of workstations are inadequately backed up, posing a potential threat to data integrity.
Regardless of these challenges, organizations must take that first step in securing their data and network. For those who are unsure where to start, this is where compliance comes in.
The Importance of Compliance
In the realm of security, there is a perception that compliance is more about following the different rules and guidelines which some dread as it would entail having to go through the time-consuming process of going through these policies word for word and the trouble of ensuring everything is up to standard. However, it is important to remember that these policies are instituted for a far greater goal: ensuring the security of the organization.
An enterprise that is found to be fully compliant with security regulations can at least be assured that they have the proper mechanisms in place for it to successfully address, if not thwart, any potential security threats. This also helps boost the organization’s trust level among customers and other stakeholders who are inclined to transact with businesses that have ample security infrastructure in place that can not only defend itself against threats but also protect the data entrusted to them.
Compliance is also a requirement for a business to operate in certain conditions or locations. For instance, companies that are looking to operate in any of the European Union member countries are required to comply with the EU's General Data Protection Regulation (GDPR), which requires businesses to implement stringent data protection safeguards, such as data encryption and breach notification procedures.
Implementing a Data Governance Framework
For the organization to ensure its data compliance, it is important to establish a data governance framework. This pertains to a collection of policies, procedures, and standards for managing and safeguarding data throughout its lifecycle. It also ensures that data is correct, complete, consistent, and secure, as well as that it is used in accordance with applicable laws and regulations.
A well-designed data governance framework can assist businesses in streamlining data operations, lowering data-related risks, and improving decision-making. It can also assist businesses in identifying and mitigating compliance gaps, ensuring that best practices for data management are followed, keeping up with changing regulations, and ensuring that their data practices are compliant with evolving requirements.
Implementing a data governance framework is critical for businesses to effectively manage their data and ensure compliance during the digital transformation process.
The Importance of Software Security
Businesses that prioritize software security are more likely to be successful in ensuring data compliance and protecting their data and information systems from potential security threats.
Further Steps to Ensure Data Compliance
As security threats and measures continue to evolve, as well as regulations concerning data, it is the responsibility of each organization to ensure their security protocols comply with cybersecurity and regulatory standards. Measures the enterprise can do to ensure compliance include:
Conduct a data audit – The organization must have a thorough understanding of the data it collects, processes, and stores - and what the data is used for.
Implement data protection measures – Safeguards should be implemented to protect data, such as the implementation of access controls, encryption of data where necessary, and ensuring that all data is securely stored. Also, consider implementing a data breach response plan and conducting regular vulnerability assessments.
Develop data policies and procedures – Set up and maintain up-to-date data policies and procedures to ensure that the company complies with relevant data regulations, such as data retention, access controls, and data handling procedures. Also, ensure that each employee is made aware of these policies and that they understand their responsibilities when dealing with sensitive data.
Appoint a Data Protection Officer - If a company handles a large amount of personal data, appointing a Data Protection Officer (DPO) will help ensure compliance with applicable regulations.
Regularly review and update the compliance program - It is critical to review and update the compliance program regularly to ensure its currency and efficiency with changes in regulations and business processes.
The integration of compliance into digital transformation strategies will not only safeguard sensitive information but also enhance organizational efficiency and resilience, paving the way for a secure and compliant digital future.
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