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With businesses spending between 1.5 and 7.2 percent of their yearly revenues on technology, leaders are always looking for ways to improve cost efficiency and ensure the success of their digital transformation initiatives. But, with limited budgets and technical expertise being in short supply, it’s often a difficult task.
As the proverb goes, failing to plan is planning to fail. Now that businesses have become so reliant on modern technology, more hangs in the balance than ever before. Solutions such as cloud storage and automation offer better opportunities to secure your most valuable business asset — digital data.
With the costs of running an in-house IT department easily running into seven-figure numbers even for smaller organizations, business leaders are constantly looking for ways to reduce the impact of technology on their bottom lines. When high-level executives like CIOs command a typical salary of over $142,600 per year, it’s easy to see why.
Every business, no matter its size or industry, faces constant pressure to innovate to keep up with an increasingly dynamic market. However, implementing new technology is always disruptive, and a lack of strategy can easily result in your business being in a worse situation than when it started.
Although data breach reporting dropped by 59% during the first half of 2018 in California, no business can afford to be complacent when it comes to cybersecurity. Everyone’s a potential target, and cybercrime continues to rise.
To protect your organization, you’ll need to identify the common causes of data breaches and how they can affect your operations.
California has long had some of the toughest data breach notification laws in the country and, in 2018, attorney general Xavier Becerra announced a new law to address certain limitations of the original SB 1368 bill that went into force in July 2003.
The new legislation expands on existing laws to add requirements for organizations to notify their customers if their passports, ID numbers, or biometric data are stolen.
As hacking hit the headlines in the last few years — most recently the global hack in May that targeted companies both large and small — insurance policies to protect businesses against damage and lawsuits have become a very lucrative business indeed.
