Developing a Strong Risk Management and Information Governance Strategy

The challenge of protecting business critical information has never been greater – and neither has the cost of failure. The challenge facing most businesses is the serious security risks and compliance issues caused by the advent of “Bring Your Own Device” (BYOD) and “Social, Mobile, Analytics and Cloud” (SMAC), including internal and external collaboration platforms. 

 

Protect Your Business from Threats

Securing access to your critical information is essential to protecting your company and brand strength. From sensitive customer data to the corporate material that forms the basis of your competitive strength – even the often-overlooked images of confidential data stored on hard drives of multifunctional printers – your information is at risk. And today, it’s harder to protect this data than ever before.

• The average organization now experiences a staggering 1,400 security attacks each week. And the situation is likely to become even worse, as more resources are moved outside the firewall.¹
• In the face of these challenges, it’s not surprising that the confidence CIOs have in effectively responding to these crises has decreased from 37 percent in 2011 to just 26 percent in 2013.²

Source: Accenture, “How Global Organizations Approach the Challenge of Protecting Personal Data”

In addition to that, you also need to provide your customers with 100 percent uptime, without interruptions caused by Denial of Service (DoS) attacks or Advanced Persistent Threats (APTs).
Ricoh can help by extending your security reach to the very edge of the information enterprise, including both mobile platforms and document devices, to decrease risk and ensure maximum protection of customer and other critical data.

Manage the Risks and Costs of Non-Compliance

It seems that nearly every week, there’s another story about a company whose customer data has been breached. The costs of failing to protect your customers’ personally identifiable information (PII) can include not only fines and lawsuits but irreparable damage to customer trust and loyalty.
To provide your customers with peace of mind, you need to be able to demonstrate compliance with key regulations governing the security and availability of business information, including:

• Sarbanes-Oxley (SOX) in the US, and international equivalents like Bill 198 in Canada, the Financial Instruments and Exchange Law in Japan, and the EU Data Protection Directive
• Payment Card Industry Data Security Standard (PCI DSS)
• Service Organization Control (SOC) 1, 2, & 3 (formerly known as SAS 70)
• Gramm-Leach-Bliley Act (GLBA)
• Health Insurance Portability and Accountability Act (HIPAA)

And the requirements to protect sensitive information are not just limited to digital data. Over 30 percent of business information — especially customer data — resides on paper, with many processes comprising both paper and electronic workflows.³ No matter the format, Ricoh can help you secure your critical data.

With the increasing value of business information and the need to prioritize its security, c-level executives are expanding their information governance efforts beyond IT alone to processes specific to different Lines of Business.
Internal security threats and lapses can be addressed with well-articulated information governance policies, strong employee training and a more secure information infrastructure that covers information and technology throughout its lifecycle – from introduction to its secure destruction.

The Bottom Line

Your growth and competitive strength depend on securing your information and operations against the unknown. When your operations are up and running continuously — with no significant disruptions or breaches — customer trust and loyalty will bolster existing revenue streams and drive future business, helping you avoid the significant costs of non-compliance.

¹ 2013 CIO insights from the Global C-suite Study – IBM, November 2013
² Harvey Nash CIO Survey 2013
³ IDC White Paper sponsored by Ricoh, “It's Worse than You Think: Poor Document Processes Lead to Significant Business Risk,” doc #6352, June 2012.