Is Your Company Ready For A Data Breach?

Everyone thinks it – it won’t happen to us. My company is not big enough. We don’t need to prepare for a breach. The fact of the matter is, you do. You need to get ready. The threats show no sign of slowing, and in fact, are getting more common and sophisticated even when geared toward small businesses. Companies must take steps to prepare in order to avoid the threat as best they can while minimizing the fallout and liability when it does occur.

The potential consequences reach beyond just lost revenue to potential devastating negative public opinion and loss of trust with customers and consumers. Companies must incorporate leadership involvement and awareness in planning and response in order to effectively combat this threat.

There are few steps you can take to prepare.

1. Get ready by reviewing your information

Companies need to know what information they have, how sensitive it is and what the consequences of unwanted public disclosure are should it occur. This can as involved as a full scale information audit to just taking inventory of basic categories of information held by the organization.

2. Prepare a data breach response plan

A comprehensive and detailed data breach response plan can be expensive and time consuming. It is best practice and a company should dedicate the resources if available. At a minimum though, companies need to identify vendors and contacts to reach out to in the event of a breach in order to quickly respond. This can involve insurance companies, lawyers and accountants.

3. Prepare a communications plan

One of the most overlooked, but most important, part of responding to a breach is the communications plan. Companies must communicate with customers quickly to give honest and current information to maintain trust. Talking points should be prepared ahead of time for management to deal with the press and customers. Every effort should be made to quickly and effectively communicate with customers to apologize and respond to needs.

 

Richard Pavlick Presents at NOLA Entrepreneur Week

Richard Pavlick presented at New Orleans Entrepreneur Week this past week to start-ups. and entrepreneurs on issues relating to privacy and data security. The presentation, Privacy by Design, highlighted issues start-ups need to pay attention to from the earliest of design phase and provided a framework for how to deal with them.

New Orleans Entrepreneur Week (NOEW) presented by JPMorgan Chase & Co. is a weeklong series of events celebrating business, innovation and entrepreneurship in New Orleans.

Richard Pavlick