How private is your firm’s data?
As major news outlets continue to cover data privacy scandals, especially the new threats posed to Facebook users by owner company Meta, individuals and businesses remain at risk. While consumers often know their data is being tracked, business leaders may not recognize that entering into service-for-data agreements with free or low-cost software could allow their – or their clients’ – data to be harvested and sold to third parties.
Despite tech companies’ outstanding stock market performance and our reliance on their products in the world of hybrid work, the 2021 Edelman Trust Barometer reports that trust in technology has reached its lowest point ever in 17 of 27 markets studied. Although digital tools often put business data at risk, tech companies know that many organizations can no longer operate in the new normal without platforms that support anytime, anywhere collaboration.
For law firms, professional services companies and other client-focused businesses that manage confidential information regularly, these trends illustrate why it’s so important to work with providers who are truly committed to data privacy. It’s not just your business that’s at risk – it’s also your clients’.
The Importance of Data Security for Your Company
In an economy where data is the new oil, protecting sensitive company information is becoming more critical and more challenging. While keeping your own business’s information secure is essential, it’s doubly important when it comes to protecting client information. One security slip and your company could face potential legal and compliance risks for mishandling a deposition or a sensitive client document.
The amount of data we generate every year continues to increase exponentially, and it’s now being measured in zettabytes, which represent 1 sextillion bits. Having already risen from 33 zettabytes (ZB) in 2018 to 59 ZB in 2020, it’s predicted to reach 175 ZB by 2025. Many technology providers are monetizing this wealth of data, and even if they’re not selling it directly, third-party integrations and security weaknesses can also compromise data if not managed correctly. For example, vulnerabilities in Zoom’s platform have allowed criminals to retrieve data shared over videoconferences.
The lesson to be learned? Take precautions when linking integrations to third-party apps – especially those that contain sensitive information – and make sure to use the appropriate authentication protocols.
For businesses, data security and privacy requires carefully vetting all technology partners to ensure that your company isn’t headed for its own data privacy scandal. Collaboration isn’t just about sharing ideas and documents; it’s also about keeping those ideas and documents secure and confidential.
What To Expect From Your Technology Partners
At Workstorm, we believe privacy is your right and our responsibility. Security, privacy and confidentiality are fundamental rights, not a concession to be made as a cost of collaboration. That’s why Workstorm allows for highly secure sharing and collaboration on sensitive files, like legal documents. We’re also extremely committed to data privacy and won’t ever sell, share or compromise user data.
No matter who your technology partners are, doing your due diligence on their data management and sharing policies is a must before implementing their tools. As you’re choosing which technology will carry you into a post-pandemic hybrid working future, now is a great time to ensure that you have a foundation of privacy for years to come.
Here are four rules to follow in any engagement to ensure that sensitive company and client details stay secure:
- No data sharing. First and foremost, your data is your data. It should never be mined and sold to the highest bidder – and on Workstorm, it never will be. Make sure you read the fine print and ask partners to disclose specific privacy policies.
- Robust data protections. Your information should flow, not leak, as vulnerabilities can make it easy for hackers to infiltrate and steal data. Workstorm has enterprise-grade encryption that follows stringent security standards, as well as safeguards to ensure all users comply with your business’s own security standards.
- Customizable for your environment. No two businesses are alike, so make sure that you can adapt technology based on your own company’s security policies. For example, Workstorm offers the option to deploy and host on-premise or in the cloud. This allows for seamless collaboration, as Workstorm allows you to work on secure files directly in the platform – without the hassle of a separate login or link.
In today’s hybrid business world, data security is critical. Workstorm offers enterprise-grade encryption that follows industry security standards, all while providing analytics and technology to proactively ensure user compliance with your security policies.
By bringing together all the people and tools you need in one digital space, Workstorm keeps your data where you want and need it to be – helping you run your business better while preventing you from being a victim of the next Silicon Valley data privacy scandals. Request a demo today.