It can be easy to take document security for granted. Before we began to digitise our work documents, they are often physically stored in filing cabinets or archives.
We now upload documents and files to the cloud without thinking twice about it. Research shows that nearly two out of every three global businesses – 65% to be exact – are now using some form of cloud-based storage (Allbusiness.com). However, the widespread use of cloud-based storage is no guarantee of a secure environment, and security is more important than ever. For example, only 6% of companies that experience a significant data loss survive for more than two years! (Allbusiness.com).
So, what is the potential impact of poor document security? What kind of protective measures can be taken to ensure our business information is kept safe?
The impact of poor document security
Poor document security can arise from paper-based physical storage. Important information can easily be lost or stolen when in paper form. However, digital storage platforms make large volumes of documents easily accessible and safer to manage – a combination that paper documents cannot offer at scale.
That said, the possibilities of digital theft in today’s world are still significant.
Digital document security is undoubtedly a top concern for most organisations worldwide. 72% of businesses state that document management systems feature as part of their cyber-security-related policies (Cyber Security Breaches Survey 2019), second only to what staff are permitted to do on their devices (81%).
Data collection and handling have many GDPR implications, and if personal information is compromised, companies can now face significant fines and reparations as a result of a data breach.
The largest security threats can actually come from within organisations. Internal breaches of information, such as misconfigured services and other data handling/clearance mistakes, expose far more records than hackers can manage to steal (CSOonline.com).
The 2016 data breach at Sage highlighted the risk of the insider threat, as an employee leaked important company information by gaining unauthorised access to internal login data (PCWorld.com). As a result of the breach, Sage saw share prices fall by 4.3% (PCWorld.com).
Both external threats and internal weaknesses are security risks that should be dealt with proactively.
So, what’s the solution?
It has been reported that most security lapses are due to either careless or dishonest employees (Learn.Admemero.com). To mitigate this, properly implemented document management systems can selectively restrict files and documents, meaning that access rights can be granted to only certain employees. In addition to this, increased insight into who accessed the breached data can help to rapidly identify the culprit and minimise any potential impact.
The best digital storage solutions reduce the likelihood of data breaches because they control the scope of access to sensitive files. Digital storage also means that each employee only has access to the files necessary for their task/role; making work more efficient and straightforward.
Ultimately, the success of a document management solution can be attributed to the way in which it is implemented into a company’s existing structure. When it comes to security, it is key that it is rigorously reviewed and tested regularly in an effort to identify any vulnerabilities, as well as informing employees about how to create backups and maintain high standards of security.
Speak to our experts to discover how SCC can tailor a robust, secure and cost-effective document storage solution to suit your needs today and in the future.
Related: MPDS Services