It’s hard to deny that data theft is prevalent in the U.S., with the government admitting that it is an on-going problem. Judy Greenwald, specialty writer for Business Insurance, cites appalling data theft statistics for 2014, with 368 cases having been reported so far by the non-profit organization Identity Theft Resource Center. Surprisingly, the medical and healthcare sector, historically the most common targets of such a crime, fared better compared to other industries:
“The business sector, with 32.9% of the breaches, represented nearly 60% of the compromised records, according to the center.
Government/military ranked third on the list, accounting for 11.1% of the overall breaches and 14.3% of the compromised records, according to the center, whose list of data breaches is a compilation confirmed by various media sources and/or notification lists from state governmental agencies.”
The truth is that data security is an ever-evolving arms race. As data storage technologies improve, data thieves simply become craftier. That said, many entrepreneurs and business owners fail to see the importance of secure document storage, because they think it’s futile to spend money preparing for something that may happen. They need to grow out of this mindset and realize that working with reliable document management companies, like Curtis Spectrum Information Services, is essential if they want to protect their interests. After all, it’s not just data thieves that justify the need for reliable document management.
Document storage is crucial for disaster preparedness: if a company doesn’t include this in their contingency plan, chaos is sure to be the aftermath. It is necessary for health purposes too, because hardcopies induce mold growth once exposed to moisture. In addition, reliable document storage services can improve office productivity. By removing clutter at the workplace, employees can focus more on their jobs rather than rummage through poorly-organized folders and file cabinets for the necessary paperwork.
However, data security is still the biggest reason why document storage and management is vital. Misplaced or stolen financial statements can cost any company thousands, if not millions, of dollars, while poorly-protected client information can destroy long-held relationships with customers and business partners. Either of these scenarios can lead any company to economic ruin, which is something that Spectrum Information Services and other document management firms seek to prevent.
While it’s hard to say if businesses can completely protect themselves from data theft, they have the resources to improve their defenses. Business owners should only take a more proactive approach in data protection, which in turn protects their investments and interests.
(Source: At least 368 data breaches reported this year: Identity theft report, Business Insurance, June 25, 2014)