Data Security in Business: A Comprehensive 101 on Digital Communication Safety

The contemporary business landscape is increasingly reliant on data-driven technologies - both internally and externally.

From daily messaging, video conferencing, and file-sharing, up to presentations, FAQs, surveys, and in-person meetings inside Metaverse - digital business communication covers almost every imaginable aspect of online information exchange today. The recent Apple Vision Pro premiere will most probably make it even more prominent.

Businesses eagerly leverage third-party apps like Slack, Teams, or Meets to maintain project delivery up to schedule or reach their target audience. With digital communication tools on deck, businesses benefit i.e. from much smoother online-based collaboration with vendors, resulting in better risk mitigation in the supply chain.

AI-powered chatbots have also become recently increasingly popular for selling and facilitating customer support in business-to-business companies. According to Gitnux organization, over 97% of organizations managing sensitive information are investing in big data or AI solutions.

They support the sales process and provide a quick and efficient way to communicate with customers, vendors, and other stakeholders. AI automation can also reduce response times, improve customer satisfaction, and increase productivity.

Having those in mind, it is clear, that today's communication in business extends way beyond talking to customers or sharing some files after a meeting.

Regardless of the business model, data leakage is currently a significant concern,

This issue can occur whenever any type of sensitive information or raw materials is unintentionally shared or exposed. Data breaches result in financial loss, reputational damage, and potential legal implications that may affect other businesses.

Most of the time data leakage comes from inadequate security measures or human error.

That is why, the ongoing digitization processes have raised many safety concerns due to the associated risks of possibly sensitive data leakage. The wave of IoT only complicates the matter. According to among the most prominent cyber threats, today are:

• Ransomware
• Malware
• Social engineering
• Identity theft
• DDOS (Denial of Service)
• Information manipulation and interference
• Supply chain attacks

Safeguarding data privacy is not limited to the assurance of confidentiality within a single location today. Rather, it is also critical to handle and protect personal or sensitive information across multiple entities. Therefore, corporate decision-makers must recognize the importance of data management and data security posture management in safeguarding their business and individual customers.

Unfortunately, different solutions mean a possible rise of potential caveats in the defense system. That is of course unless you are really on modern solutions. Click here to learn more about Direct - the 1# privacy communication platform on the market.

Striking privacy law compliance requires much more than simply relying on tried and trusted communication tools.

In 2022, the University of Toronto community faced a rise in the number of incidents related to Zoom bombing, a form of cyber attack where uninvited individuals intrude and disrupt video conference calls. The unwanted guests often display inappropriate or offensive content, leading to disruptions and discomfort for the participants.

Moreover, 2023 has ended with a concerning data breach in Slack GitHub repositories. Even though officials stated that malicious actors did not access any sensitive data, it is still a perfect example of how thin the line is between digital privacy and total exposure.

The same goes for VPN services. Many consumers and businesses implemented such tools during the pandemic due to their low prices and efficient protection. Unfortunately, the beginning of 2024 was marked by a major data breach at Ivanti - one of the most popular VPN providers there are.

Having those in mind it becomes clear, that ensuring robust digital privacy protection is crucial for both larger businesses and smaller organizations.

The evolution of business communication channels has been a journey of constant adaptation to technological advancements and changing business needs.

Both AI and ML already play significant roles in information exchange due to their cost-effectiveness and automation opportunities in standard communication practices, valuable insights extraction, marketing, and even product and service creation.

Advanced personalization options and immediate customer response time, that come with AI and ML, are highly beneficial for the end customer. They positively influence their purchasing decisions allowing for establishing a solid base for personal relationship development with the brand.

Streamline processes will also become a major trend. This tactic involves identifying and eliminating unnecessary steps, tasks, or procedures. This can result in significant time and cost savings, as well as improved customer satisfaction. Here are 3 key benefits of this improvement:

1. Improved efficiency - By streamlining processes the completion time and resources needed for a task or project can be largely decreased. This can result in significant cost savings and increased productivity.
2. Improved customer satisfaction - More efficient and effective make customers happy. They will have to wait less time for service and are more likely to receive the correct results.
3. Increased employee morale - Workers who can complete their tasks efficiently are more inclined to feel content with their employment. This can lead to improved morale and productivity of i.e. sales team resulting in a cash flow increase.

Improving business processes can be a difficult and intricate task, however, it can prove to be a valuable investment for businesses, regardless of their size. Companies can enhance their output quality, save time and resources, and increase customer satisfaction by identifying and removing any unnecessary steps, tasks, or procedures.

According to Endelman's Future of Corporate Communication Report 2023 collaboration with sustainability and investor relations leaders is also on the rise. Cooperation is necessary to effectively navigate the rapidly growing Environmental Social Governance (ESG) landscape. In the upcoming years, it will be important for B2B and B2C businesses to act as strategic advisors/participators in cross-functional ESG working groups.

Another emerging trend will be data security in communication. As businesses share more sensitive information through digital channels, the risk of data leakage increases. Therefore, business-to-business model-based companies will need to invest in secure communication platforms and educate employees about safe communication practices.

Lastly, the future of business communication is likely to be more visual. With the rise of virtual reality (VR) and augmented reality (AR), businesses could conduct virtual meetings where participants feel like they're in the same room, even if they're miles apart. This could make communication more engaging and cost-effective.

The evolution of business communication channels is heavily influenced by recent technological advancements. However, such improvements also bring new challenges, particularly in terms of data security.

Looking ahead, businesses will need to navigate these challenges while taking advantage of new technologies to communicate effectively. This necessitates the careful handling of customer data categories such as:

• Personally Identifiable Information (PII),
• Individual-specific Data (ISD),
• Delicate Personal Insights (DPI),
• Restricted Non-Public Data (RNPD).

Failure to prioritize cybersecurity can result in cash flow disruption, sizeable financial losses, and a loss of essential stakeholder trust. Compliance with data protection laws such as the General Data Protection Regulation (GDPR) is essential, and businesses must handle customer data responsibly.

Communication is at the heart of business processes, helping to drive productivity, facilitate collaboration on business decisions, and nurture relationships. In this regard, it is imperative to implement preventative and detective cybersecurity measures, including firewall implementation, encryption techniques, multi-factor authentication (MFA), and regular software updates.

Sensitive information is not limited to customer data but also includes intellectual property, financial data, and strategic plans. Data leakages can occur in various ways, not just through cyberattacks but also due to human error, such as mistakenly sending sensitive information to the wrong recipient.

It's crucial to train employees on the importance of privacy, and security, how to handle sensitive information, and what to do in the event of a suspected data breach. Proper data disposal is essential as it can lead to data theft if not done correctly, whether it's old files on a computer, piles of paper documents, or outdated IT equipment.

Smoothening the business communication process, however, requires a lot of joint effort. Conducting communication audits, setting clear goals, coding messages effectively, selecting appropriate communication channels, documenting processes, and seeking feedback from the business's sales rep and their clients, vendors, or other external key stakeholders.

That's where Direct comes into play. It is a number-one business communication app that puts privacy in the first place and doesn't require effort during implementation.

Imagine the ability to streamline your business communications while ensuring your data is safeguarded by the most advanced encryption methods available. That's Direct.

We prioritize data protection, offering state-of-the-art encryption methods that keep your confidential information secure. Your transactions, business strategies, proprietary knowledge - everything remains uncompromised.

Click here to download Direct and improve the workplace safety of your business.

This article is based on:

1. Gitnux Must-Know Data Management Statistics 2024
2. ENISA Threat Landscape Report 2023
3. Endelman Future of Corporate Communication Report 2023
4. IBM's Cost of a Data Breach Report 2023