After the recent Facebook data breach, which shook up billions of people, everyone’s become more anxious about protecting their information. This is critical for businesses too, because even minor breaches that are rapidly fixed can cause competitors to get a hold of proprietary data, leading to colossal losses. However, there are situations where companies deem sharing their data is imperative if they’re to improve their bottom line. It’s in these situations where data security steps in, ensuring your information stays safe, even when you’re sharing the said data with third-party entities.
One example of this is when a company hires a third party to do a job for them, like manufacturing processes and/or handling customer service. Even though there are strict rules in place when a company hires another entity, there’s always a chance that information could leak out. Does this mean it’s not worth hiring another company to help?
While there is certainly an element of risk in doing so, the pros outweigh the cons if a company takes the necessary precautions.
Hiring an outsourcing company comes with lots of benefits, like saving money and getting work done faster. But because we know data theft can happen, it’s important to take steps to mitigate that risk. We already have strict rules in place to keep data safe, but there are other things we can do too. Here, we’ll talk about some ways to make sure your data, and your customers’ info, stay as safe as possible when you hire outside help.
Get the Right Outsourcing Company
Without this first step, many other data security measures we’ll talk about won’t matter much. The most obvious, but most important thing companies need to do to keep their data safe is to pick the right outsourcing company. To do this, they’ve got to do some serious digging to find out which company is the best fit. Besides looking at how good they are at getting work done, it’s crucial to see how seriously they take protecting data. Check out the security stuff they use and talk to other companies who’ve worked with them to see how happy they are with how their data’s been handled.
Maintain a Secure Intellectual Property Privacy Policy
Once they’ve picked the right service provider, a company should communicate a clear policy about how the third party should keep their data safe. It covers what kind of data the outsourcing company can access, what they should do if one or both parties suffer a data breach, and what would happen if they fail to keep the data secure. It’s imperative that both the company and the service provider work out an agreement before proceeding. This helps avoid problems later. Also, another thing to consider is the privacy laws in the outsourcing company’s location, especially if they’re in another country.
Having a Secure Privacy Policy Within the Company
Even though we’ve talked about data security rules that govern how the outsourcing service provider should carry out processes concerning a company’s data, it’s also crucial for the company itself to have strong security measures. It’s very much possible that if a data breach does happen, it will occur in the company’s infrastructure. A good privacy policy should make sense and cover everything well. It should say what kind of data is common and what’s sensitive. These rules should be clear, so everyone understands them. Everyone in the company, from the employees to the big bosses, should work together to finalize these rules.
Educating the Outsourcing Firm on How to Handle Data
This might sound obvious, but lots of companies forget about it. They just tell the outsourcing company what to do, maybe a bit about how things work, and then they’re hands-off. But sometimes, this leads to mistakes in handling data. In the worst cases, secret info gets leaked out. This can be avoided if the right steps are taken. Companies need to make sure they explain everything about handling data to the outsourcing company. If necessary, they should even give them training. Maybe they can send someone good with data to help, so everything goes smoothly, and secrets stay safe.
Beef up Data Security
Let’s focus on beefing up the company’s data security first. Before outsourcing, companies should think about using application layer firewalls and database monitoring gateways. These tools help keep track of who’s accessing the data and stop outsiders from getting in. They also stop employees from misusing their access and protect against hackers trying to break in. If the company already uses these tools, they should either find an outsourcing firm that does too or ask their chosen firm to start using them. This way, the data stays safe for the long haul.
Make use of Other Prevention Technologies
This tip applies to both the company and the outsourcing firm. Companies need to keep up with the latest software to track, organize, and, most importantly, keep their data safe. They should also make sure the outsourcing firm they choose is using top-notch technology to monitor and secure data. For example, there’s software that can control and track how data moves around. It can check if the right people are using it. Companies should also make sure the outsourcing firm can stop sensitive data from being copied or emailed to others.
Conduct Regular Network Security and Application Audits
Even after picking the right outsourcing firm, companies should keep checking to make sure everything’s running smoothly. Just because the outsourcing firm is good doesn’t mean they can’t get better. Companies should do regular checks on database and application security to make sure everything’s still working right, and no bad guys can sneak in. This isn’t just about the software, but also about the gadgets they’re using. It’s a good idea to surprise them with checks sometimes to make sure they’re on their toes.
The Rule of Least Privilege
One of the most critical principles in computer and data security is the “rule of least privilege,” also known as the “principle of least authority.” This rule involves limiting the access of devices or users to only the data and functions necessary for their roles. By doing this, it reduces the potential entry points for security breaches or unauthorized access. Access levels are tailored to specific job duties, ensuring that no single entity has unrestricted access to all data. This approach is crucial because, in the past, some companies gave employees full access to everything, even if it wasn’t needed. This increased the risk of unauthorized access and potential breaches. Therefore, companies should adopt the rule of least privilege to restrict access to essential functions and data, thereby enhancing overall data security.