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Importance of Data loss prevention and why it is requisite for any industry?

Data have become a critical factor that makes or breaks the company’s credibility within the industry in recent years. With mountains of data comes the responsibility of maintaining it. Data breach and leakage has made its way to the headlines time and again. We have seen in the past that frauds and cyber-crimes have always hampered the growth of the company. Data Loss Prevention and its respective measures are necessary to protect your data from unauthorized access. 

Global Data Risk Report of 2019 states that 22% of the company’s folders are open to everyone.

DLP provides detailed encrypted resolutions to various adversities. Let’s understand why Data Loss Prevention is important to your business.

  • Maintaining The Confidentiality Of Data

The data of the company is its most valuable resource. This includes the data of employees, customers, clients, and confidential reports. Any access to third-party organizations can harm the image and reputation of the organization. To ensure privacy, a range of security solutions are opted by the companies to handle the data securely and privately. 

  • Monitoring The Activity Of Employees

According to a report by IT Security Central, 48.32% of the data breach is internal.

Certain internal staff who have access to confidential data can also disrupt the company’s server by giving access to the rivals or selling it for personal benefits. For securing the data, the activity of such employees needs to be monitored and this can only be done if Data Loss Prevention tools are utilized successfully. 

  • Threat from BYOD

BYOD refers to Bring Your Own Device. 67% of employees use their personal devices for work purposes, claims a report by TechJury. Most company-associated professionals often access the data through their personal devices, which increases the risk of breaching to several folds. Here, Data Loss Prevention comes into the role and eliminates the risks associated with BYOD like theft, fraud, etc. 

As of 2020, the DLP market is worth $2.64 billion dollars. Data Loss Prevention has been widely adopted recently by several industries. If your organization is working on a large scale, the use of Data Loss Prevention and other Security Solutions is a must. It is a one-time investment, but worth every single penny. Choose wisely and follow the process with strategic planning. 

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