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Protecting Your Customers Data

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February 24, 2016
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One of the most critical parts of any business is the relationship you have with customers. With a positive customer relationship, your business will become trusted, which helps to ensure brand loyalty and a positive reputation, all of which can lead to increased sales and profit. However, an often forgotten aspect of building the relationship is customer data protection. Keeping their sensitive information or assets secure is of the utmost importance. Here are some things you can do to help protect your customer’s data.

The best thing you can do to prevent a security breach is to implement preventative security measures. Data security should not only include general business data but personal data as well. Part of preventative measures also includes creating a customer outreach plan if a breach does occur. It may be helpful also to create a breach incident plan. This way, in the event of a breach, everyone in the company will be on the same page when it comes to how to respond.

It is also important to note that when a business has a security breach, not only does it hurt your customers, it even hurts your company as well. In fact, according to a study done by the Ponemon Institute and Symantec, an average security breach will cost a business around $5 million. On top of this, many states have strict laws in place regarding data breaches, and if you fail to meet disclosure laws, it can result in lawsuits and even more steep fines. Small businesses are especially vulnerable to security breaches since the penalties associated with a breach are often too significant to absorb. This is why it is imperative that your company has a security system in place to help protect sensitive customer data.

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