Last Updated on Apr 7, 2020 by James W
There are quite a few reasons for you to spend your time, money, and effort on protecting your data. The main reason is to minimize any sort of financial loss. You also need to keep being compliant with regulatory requirements in mind, as well as being able to maintain higher levels of productivity, and being able to meet the expectations of your customers. Computers are integral to the operations of businesses, and as such, requirements for data have been imposed by such regulators as the SEC (US Securities and Exchange Commission), and from your customers. All of your important data needs to be able to be accessed no matter the time of day or night, or which day of the week it is. Without a data protection strategy that works, this would not be possible.
Financial Loss
The most critical reason that you need to have a good data recovery company for is the fear of there being any sort of financial loss in the event of a data breach or loss. This could be data that is vulnerable on your hard drive or server, or even data on your phone. See, data has been determined to be a vital corporate asset that constantly needs to be protected. Losing any information can result in financial loss. This could be in the form of lost sales, monetary judgments, or even fines. It can also lead to there being indirect losses such as a loss of confidence from your investors, or your customers leaving you for one of your competitors. Even worse is that data that has been altered or stolen can lead to there being financial repercussions that won’t be known until further down the line. Once it is finally found out, there won’t be much that can be done about it, and this can magnify the negative impacts.
Regulation Compliance
Another thing that businesses need to worry about when it comes to data breaches has to do with being compliant with regulations regarding the protection of data. All across the planet, governments have started to impose regulations regarding data and electronic communications. Businesses can face pretty severe consequences if they are found to be noncompliant. In some countries, business owners and executives can even be held criminally liable for not being compliant with laws dealing with electronic documents and communications. Regulations such as these can define which information needs to be kept, the duration for retention, and the conditions under which the information should be held. There are other laws that have been designed in such a way as to ensure that the information in documents, databases, and files is kept private. Losing any of these vital communications is looked at as violating these regulations and can actually subject the business to a variety of fines and the executives to legal action.
Productivity
A third reason that data protection is so important has to do with productivity. This reason doesn’t tend to get a lot of attention from the press, but that doesn’t mean it is less important than the other reasons. Losing important data can cause a decrease in productivity. This is because employees will have to deal with customer issues that can be quite time consuming without having the assistance of your computer databases. The loss of data can also result in applications failing as well as other, similar issues with your systems. This can make it quite difficult for your employees to get their jobs done properly and in a timely fashion. Poor strategies for the protection of data can lead to people waiting for a long time if your systems need to be restored due to a failure. While they are waiting, your employees might not be able to get any work done, which can further diminish their productivity.
Now, in the 21st Century, more business is being electronically handled than ever before. We do business on all sorts of devices, from computers to tablets, and even our phones. If you want your business to be successful and compliant with all federal regulations, you need to be sure that your data is protected regardless of the type of device it is on.
