What Happens To Confidential Data In Your Business?

by | Jul 3, 2019 | Business

Confidential data are everywhere. You can’t take a stroll down your local high street without stepping on a spiky confidential problem. Uploading that cute selfie to your social media platforms will potentially share your current location with millions of people. Should you share your email address to get the e-receipt directly emailed to your mailbox when buying the latest summer fashion? Most people don’t give it a second thought and gladly share their data. Every day. On social media. On their favourite shops. And even on their way to work. 

However, it doesn’t mean that businesses shouldn’t be careful with the confidential data they collect. In fact, companies need to be extremely rigorous about their data processing in-house, mostly because their customers are not! What happens to confidential data in the business world and how to handle them effectively and safely is a top priority for companies, big and small. 

 

 

It’s integral to task management

Most businesses have a strict policy on confidential data. Indeed, more often than not, managers choose to withhold sensitive information from the rest of the team. The strategy that is designed to protect confidential data can have a dramatic effect on business productivity and success. Withholding crucial data about a project, for instance, can interfere with your task management solution. After all, what is the point of assigning the task to the best-suited talent in-house if you refuse to share the relevant information with them? In the long term, the work in the dark approach can be damaging to the reputation of the company. Businesses that embrace transparency are more likely to make the most of their confidential knowledge. 

 

What happens to the data you don’t need anymore?

At the end of a project, your desk is covered in a thick layer of paper and other loose documents that might contain valuable information about your clients. There are two schools of thought. Some individuals make sure to classify and organise the information in large folders, while others grab the first bin bag in the vicinity and throw everything inside. In reality, there is a middle way. Information that might be relevant for future projects or your communication with your clients should be stored with the client’s approval. Anything else will need to be destroyed through professional shredding services. Indeed, any document that might contain sensitive information about your company or a client needs to be managed effectively, either through appropriate storage or destruction. 

 

You need to keep your data confidential

Small businesses are more vulnerable to data breach accidents than others. Hackers tend to focus on easy targets, and that makes SMEs the preferred victims in nearly 60% of cases. You can’t afford to ignore the risk. Having systems in place that encrypt and safeguard your data can be a game-changer. Needless to say, reliable anti-virus and anti-malware tools is a no-brainer! The majority of data breaches are linked to human errors, which means that you need to educate your team and ensure that everybody can identify risky behaviours. 

 

Confidential data are a source of many headaches in the business world. Indeed, it is your responsibility to protect your customers’ data – regardless of how careless some customers might be with those. As a company, you need to understand not only how to make the most of your knowledge to provide quality services, but also how to store, protect and destroy sensitive information. 

 

 

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