In today’s age of information, it is more important than ever to secure data. In this blog post, we will tackle data privacy best practices you can apply to your business to protect your company and your customers’ data.
Data Privacy: Why Is It Important for Business?
The big data era has brought about many changes in the way businesses operate. The ability to collect and analyze large amounts of data has given companies a competitive edge, but it consequently raised concerns about data privacy.
In this modern age, companies are unsurprisingly adopting a more digitalized approach to their operations. To keep up with competitors, your brand has to be at the front lines of the e-commerce trend. However, all the benefits of having an online presence come with the biggest threat of losing credibility. Brands that have poor data privacy practices suffer greatly.
Data breaches can cost a company up to $9.44 million in the US. And financial damage is only one of the many issues brought about by such an incident. There are several legal repercussions, along with several safety risks for the organization and its customers. So, if you want to protect your company and your customers, having the right data privacy protocols in place is crucial.
Data Privacy Best Practices: How to Protect Your IT Systems
Here are some of the data privacy best practices you can apply in your organization. You can also check out our other data protection guide for startups for more tips.
1. Back up your data
Hacking is the most common type of data breach. Hackers can exploit the weaknesses in your network and acquire unauthorized access to your data. It’s important to put up pre-emptive measures in your system before an attack happens.
One way to do this is to create a backup copy of your data and sync it regularly. Store it somewhere other than your main database, if possible. This also secures your data from physical attacks such as a break-in, fire, and other natural causes.
Veeam Enterprise, Acronis Cyber Protect, and Rubrik are some of the best data backup software for businesses. They design their platform to simplify the management and automation of your data storage.
2. Use encryption software
Encryption is one of the most important data privacy best practices for 2023. Encryption technology is a valuable tool for data privacy. It safeguards your information from unauthorized access and prevents malicious actors from using it for their gain. By using encryption, you prevent your data from being intercepted or stolen without your knowledge.
Companies can benefit greatly from using encryption methods like Bcrypt Algorithm to protect from password-cracking schemes or applying Advanced Encryption Standard (AES) to strengthen their data security. Depending on your company’s security requirements, you can choose the best encryption methods that work on your system.
3. Create and continuously update your data privacy policy
Create a clear and concise data privacy policy to ensure employees, customers, and other stakeholders understand how you handle data. It should include the type of information you will collect and how it is stored, used, shared, and disposed of. This will help ensure that your business complies with all applicable laws.
And just as important, keep your privacy policy up-to-date with privacy laws, as well as changes in the industry practice. Ensure that you add the necessary protocols to accommodate changes in the market trends.
4. Monitor user activity
Monitor who has access to the network, what devices are connected, and what activities are being conducted. This will help to detect any suspicious activity and identify breaches quickly. Make sure you have a way of monitoring your system for any suspicious activity. This could involve setting up alerts when certain data points are accessed or when changes are made.
5. Limit access to sensitive data
Make sure that only those with a valid need have access to sensitive data, such as customer information or financial information. Use role-based permissions so users only have the privileges they require. If you use third parties to store or process data, make sure they are compliant with all applicable data privacy laws and have their own set of security protocols in place.
6. Secure transmitted data and its storage
If you transmit data over the internet, ensure that it is encrypted and secured with a firewall. Use TLS/SSL to make sure you send data securely over public networks. Additionally, store your database for customer information on a secure server with anti-virus and firewall protection in place. Also, consider using a virtual private network (VPN) to provide additional security when accessing the server remotely.
7. Train employees on security protocols
Every department (HR, marketing, sales, product development, operations) is concerned with data protection, and each one has a separate processing method. Each department will work with a variety of outside vendors and a unique collection point.
Make sure every department, procedure, and vendor is recognized in your program. All employees should also be aware of the security protocols in place and can recognize potential threats. Provide regular training on data privacy best practices, so everyone is aware of the risks and how to spot them.
8. Improve documentation
Having solid documentation is essential in preventing and tracking any suspicious activities in the system. Documentation puts things in perspective and gives precise, granular insight into organizational procedures and critical risk areas.
Create a map of your full data lifecycle, including the steps used by each department to gather, store, access, use, and share customer data (using data flow diagrams). Describe the procedure by which end users can control their privacy rights as well as the organization’s legal and contractual responsibilities.
The abovementioned tips are just a few practices that an organization can apply. As tech advances, data privacy will be a priority in all online interactions. Businesses must make wise decisions and maintain vigilance to safeguard data and prevent the exploitation of personal information.
You’re Safe With Full Scale
At Full Scale, we comply with strict data privacy protocols for our employees and clients. Our clients are not required to share their IP addresses and other sensitive information that can compromise their business. We value privacy and consent in data sharing.
If you’re looking for a reliable partner for software development, Full Scale has a lot to offer! We can help you assemble your development team and manage the project. Our goal is to ensure you can hire developers quickly and affordably. We’ll guide you every step of the way!
