Forbes discuss the top data security risks every business should address with urgency. One of those being a lack of awareness surrounding detecting frauds, security compliance and handling sensitive data. risual has substantial clients in the commercial sector in which we are seeing a reoccurring pattern that security is an area which needs to be addressed – and promptly. Let’s break this down a little bit further to help really understand the changes and challenges in the commercial sector:
- Cyber threats continue to remain high, and the lack of awareness people have about how to handle sensitive data and potential cyber-attacks is increasingly alarming.
- Increased occurrences of loss of customer data is continuing to leave businesses facing reputational damage, compliance issues and heavy scrutiny from the public and regulatory bodies.
- Remaining competitive and ahead of the curve is becoming a challenge as businesses are not putting security measures at the forefront.
- Proactive security management is becoming more popular as the commercial sector looks to minimise and mitigate potential cyber-threats.
risual has been working with a medium sized commercial business who primarily focus on delivering digital and technology advisory support. After the initial discussion to address the business pain points there were two critical macro problems which needed to be addressed – hybrid working and business growth.
The business had a bring your own device (BYOD) model in place, allowing employees to be flexible in the way they work, communicate and store workload. The process sat behind that model was immature meaning they had no reliable process to manage the devices and mobile phone estate – posing a data security risk. Naturally, if the business did not engage with risual they would be uncompliant with ICO and ISO standards and face a huge risk of being liable to substantial financial penalties.
We have already seen other businesses in the commercial sector face financial penalties of over £4m and exposing over 113,000 colleagues’ personal information – a cost and reputational damage businesses of today simply cannot afford.
To ensure the business and its people have a seamless BYOD model, effective security measures in place and are compliant with any relevant regulations and standards risual worked through piloting all devices on Microsoft Intune.
Accelerate business growth and awarded for high security standards
Since this pilot, risual and the client have completely mitigated any security risks and have a data secure BYOD model. Rather than facing a large financial penalty, the client instead has been awarded an ISO accreditation showcasing its impeccable internal security processes and practices which in turn has opened significantly more opportunities providing business and revenue growth.
This effective project has driven significant benefits for the business and has helped to combat potential risks and challenging hurdles they would have been faced with if they chose not to act. To summarise:
- A hybrid workforce was a macro problem for the business due to the high risk of potential data security incidents and lack of process surrounding the BYOD model in place. The business now has a seamless process backed with high security standards ensuring there is no risk of any data breaches from any device.
- Lack of and unsustainable business growth was another key macro problem, and since this project not only has it solved many security challenges but has also unlocked many doors for future opportunities with other clients but has also ensured the business has been recognised and awarded for its high security standards – helping to drive business growth.
- Remaining competitive is a challenge for the commercial sector, this business is now paving the way and showcasing its competitive edge by withholding industry recognised accreditations for security and its internal processes.
If you found this story interesting, get in touch. There is no obligation to purchase with risual – we genuinely care for helping businesses improve, contain costs, and focus on business growth. Get in touch with us today to discover the value you can unlock by working with risual.