Why Your Business Needs Information Rights Management to Protect Sensitive Data
In today’s digital age, data protection is of utmost importance, especially for businesses. Companies store a tremendous amount of data, including sensitive information such as personal customer data, financial information, and intellectual property. Losing control over this data can lead to significant financial, legal, and reputational damage. This is where information rights management (IRM) comes into play.
What is Information Rights Management?
IRM is a technology that enables businesses to protect sensitive data by controlling who can access, edit, and share it. IRM allows businesses to set rules and policies on how users interact with data, such as prohibiting unauthorized access and blocking the ability to copy or paste information into unsecured documents or emails.
The Risks of Not Implementing IRM
Without IRM, there are several risks that businesses face, such as:
Data breaches
Data breaches occur when cybercriminals gain unauthorized access to sensitive data, which can be disastrous for organizations. Not only do they suffer financial losses from penalties and legal fees, but they also experience reputational damage that can take years to recover from.
Accidental data leakage
Sensitive data can be accidentally shared through emails, file-sharing applications, and portable storage devices. Such events can expose sensitive information to unauthorized individuals and put businesses at risk.
Insider threats
Insider threats refer to employees who misuse or leak sensitive data either intentionally or unintentionally. This can be done through social engineering attacks or by exploiting vulnerabilities in the company’s network.
The Benefits of IRM Implementation
Here are some of the benefits businesses can enjoy by implementing IRM:
Better control over sensitive data
By implementing IRM, businesses can gain better control over sensitive data and restrict access to authorized personnel only. This technology allows businesses to set rules and policies on who can access, edit, and share sensitive data. Companies can define user privileges, control who can copy or print confidential documents, and even prevent screen captures.
Enhanced cybersecurity
IRM provides an extra layer of security to protect sensitive data from cybercriminals and insider threats. It encrypts data, controls document access, and automatically revokes access when an employee leaves the company or when access is no longer needed.
Compliance with regulations
Many industries have regulations and guidelines that require businesses to protect sensitive data. By implementing IRM, companies can comply with these regulations and avoid penalties and legal fees.
Conclusion
In conclusion, IRM is a powerful technology that businesses can use to protect sensitive data. It enables companies to control who has access to confidential information, encrypts data, and automatically revokes access when necessary. With the increasing threat of cyberattacks and data breaches, implementing IRM is one of the best ways for businesses to safeguard their most valuable asset – sensitive data.
