With the rapid pace of technological growth, businesses are relying more and more on digital storage of data. Sensitive information such as customer’s credit cards and social security numbers are often stored in some shape or form within the computer system. While this practice saves paper, it increases the number of possibilities by which a security breach could occur. These breaches of security are extremely detrimental to small businesses that are hoping to build strong customer relations based on trust.
Unfortunately, about 80% of small businesses which suffer from compromised data will find themselves with severe financial losses or even bankruptcy. These security breaches can be prevented by taking the necessary precautions to properly secure a small business’s sensitive information.
Identify and Segregate
All small businesses have sensitive data including personal information of employees and consumers. Make an inventory of all sensitive data and store it in an encrypted location. Try to limit the number of places which this data is stored as to minimize the number of points where breaches could occur. On top of limiting storage locations, restrict access of these points to as few employees as possible.
Encrypt Data and Transactions
Even if a security breach does occur, encrypting data might save sensitive information from being available to the wrong hands. These encryptions are the last line of defense and would be wise to invest some resources. Furthermore, encrypting data transactions is key towards preventing data loss during transferring. Financial data such as customers’ credit card information should be transmitted using secure connections.
Change Passwords Often
As the number of employees increase within the small business, so does the opportunity for passwords to be left behind unknowingly or stolen. To minimize the damage of these risks, make it a habit to regularly have employees change their passwords to laptops and databases.
Biz2Credit can help you figure out the best path to take. Visit the website or call (877) 861-2210 for help.