Did you know that experts predicted ransomware attacks to cost $20 billion in damages in 2021? That’s a staggering 57 times higher than in 2015! Worse, these crimes could cost victims about $265 billion come 2031.
And unless you practice proper data management, you can become part of the statistics.
Don’t worry, though, as we’re here to help you reduce your risks of such attacks. Below we’ve shared some of the best data management tips you should employ ASAP, so read on.
Remove Clutter From Your Desktop
Research suggests that clutter can impair focus, mess with memory, and reduce productivity. It may even increase your stress levels or put you at risk of depression.
If you think that only applies to cluttered physical environments, it doesn’t. After all, clutter can also worm its way into your digital workspace. An example is a messy computer desktop filled with disorganized files and folders.
Since the desktop is the first thing you see when you turn your computer on, it’s best to keep it organized.
One way to do that is to practice proper file cataloging. It involves creating folders and subfolders and then naming them appropriately. You can then move desktop files into these locations for easier and quicker access.
Organizing your desktop also lets you spot suspicious items hiding among your files. Unfamiliar files can be malware, so run your anti-malware app as soon you see them.
Consent management also affects the initial requests for consent and consent preference management. For example, in January 2022, the French data privacy regulator fined Google and Facebook a combined $237 million for breaching Article 7.3.4 of the GDPR, namely that rejecting cookies was not as easy as accepting them, as “several clicks are required to refuse all cookies, as opposed to a single one to accept them.”
Password-Protect Files and Folders
Almost, if not all, small business owners handle personally identifiable information (PII). That includes full names, Social Security Numbers, driver’s license information, and financial data.
Under the Privacy Act, you’re responsible for securing all the PII you collect and store. Failure to do so can put you at risk of legal consequences if that data gets breached. That, in turn, can happen if malware, especially ransomware, worms its way into your IT devices.
One of the best ways to reduce such risks is to use password protection on files and folders containing PII. Most productivity tools, such as MS Office, offer this feature. You can also create codes for locking and unlocking Windows and macOS folders.
Delete Files You No Longer Need
As you catalog files, be on the lookout for duplicate, old, or useless files. Consider deleting them to create space for new data in your hard drive. And don’t forget to empty the Trash folder (macOS) or Recycle Bin (Windows) afterward.
Sanitize IT Devices for Disposal
Data sanitization, also called data erasure, is the permanent destruction of stored data. Instead of just deleting files in a storage container, it overwrites the data in the files. That renders them unreadable or illegible to potential hackers.
Moreover, the folks at Certus note that there are data erasure products for all platforms. For example, data wiping products exist for storage devices, hardware, and software. You can even have the contents of your IT devices wiped remotely.
So, before disposing of old IT devices or legacy equipment, be sure to erase their data first. That can help prevent your business from becoming the next data breach victim.
Follow These Data Management Tips Today
Remember: One data breach is enough to bankrupt small businesses. Indeed, reports found that 60% of hacked SMBs went out of business six months after getting hacked.
That should be enough reason to secure all the data you handle in your business. So, as early as today, start employing the data management tips we’ve shared above.
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Kenneth is a proud native of sydney, born and raised there. However, he pursued his education abroad and studied in Australia. Kenneth has worked as a journalist for almost a decade, making valuable contributions to prominent publications such as Yahoo News and The Verge. Currently, he serves as a journalist for The Hear Up, where he focuses on covering climate and science news. You can reach Kenneth at [email protected].
The Importance of Business Continuity and Risk Management Plan
Have you considered what could happen if a major disruption hit your business today?
Ensuring business continuity and risk management is like having an insurance policy for your business operations. This article explains why solid continuity planning is crucial and how it can protect your business from unforeseen events.
It’s a must-read if you want to be prepared for anything and keep your business running smoothly no matter what happens.
Downtime can hurt your business big time. It can stop your work, upset your customers, and cost you money. So, it’s super important to minimize downtime as much as possible.
A solid business continuity plan can help you do that. It keeps things up and running when disruptions happen, keeping your downtime low.
Protecting Your Reputation
When something goes wrong with your business, it can negatively affect your reputation. And we all know how important a good reputation is for success.
A well-designed risk management plan can help mitigate potential harm to your brand image in case of a disruption. This can include regular data backups, secure storage and communication protocols, and a crisis communications plan in a PR emergency.
Ensuring Financial Stability
Problems with how businesses work can also cause money problems. If your business doesn’t have a good continuity plan, it might be hard to get back on its feet after something unexpected happens and costs a lot of money.
A risk management plan helps you determine the possible financial risks and how to lower them. Some things that can help with this are having a savings or emergency fund, getting insurance, and spreading your purchases.
Supply Chain Management
Supply chain problems may halt your business. You won’t be able to run your business if you can’t get the supplies you need or send your goods. You need a business survival plan to handle these risks well.
A well-organized supply chain management plan ensures backup providers are ready in case something goes wrong.
Complying with Regulations
Every business must follow certain rules and regulations. Depending on your business, these rules can be local, national, or even international. You might face big fines or other penalties if your business fails to follow these.
A good business continuity and risk management plan can help ensure you follow all the rules. This way, even if something unexpected happens, your business can continue to operate within legal boundaries.
Insurance premiums can become a significant expense for businesses. A robust business continuity and risk management plan can lower these costs. By showcasing your proactive measures to insurers, you demonstrate that your business is less risky to them.
In this context, businesses may particularly consider this business liability insurance in NJ, as it aligns with a comprehensive risk management strategy and could contribute to more favorable premium terms.
Elevate Success With Business Continuity and Risk Management
A comprehensive business continuity and risk management plan is essential in today’s dynamic and unpredictable business landscape. It protects your business from potential disruptions and helps you minimize downtime, protect your reputation, ensure financial stability, and comply with regulations.
Don’t wait for a crisis – start creating your business resilience plan today! Remember, the best time to prepare is before you need it. Stay ahead of the game and keep your business safe and secure.
We hope you found this article helpful. If you did, be sure to check out our blog for more great content like this.
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